Alexis Minerals Corporation
TSX : AMC

Alexis Minerals Corporation

November 04, 2009 08:30 ET

Alexis Finding More Gold at Lac Herbin Gold Mine

TORONTO, ONTARIO--(Marketwire - Nov. 4, 2009) - ALEXIS MINERALS CORPORATION (TSX:AMC) is pleased to announce that results from continued delineation and exploration drilling at its Lac Herbin Gold Mine in Val d'Or, Quebec continue to return very good gold grades in extensions to previously established Reserve areas and in new discovery areas adjacent to the mine.

Recent delineation drilling focused on the three principal zones, S1, HW and S3, on the eastern side of the current mine infrastructure, Table 1. Highlights of this work include the following:

- 47.4 (23.5 cut) g Au/t over 4.1 m (true width 2.8 m) in Hole LH03-125;

- 19.4 g Au/t over 2.2 m (true width 1.5 m) in Hole LH05-067;

- 17.5 g Au/t over 1.7 m (true width 1.5 m) in Hole LH01-284;

- 14.0 g Au/t over 5.0 m (true width 4.4) in Hole LH05-063; and

- 14.3 (13.2 cut) g Au/t over 3.8 m (true width 1.6 m) in Hole LH03-124.

The delineation drilling in the HW zone, with Holes LH03-125 (23.5 g Au/t cut) and LH03-124 (13.2 g Au/t cut) at 270 m depth, confirm the presence of economic mineralization below the previously mined area in this zone. Hole LH05-067 (19.4 g Au/t), at 310 m depth, extends mineralization at the junction between the HW zone and a secondary shear an additional 40 metres down dip.

Delineation drilling in the S1 zone, with Hole LH02-402 (6.9 g Au/t) at 250 m depth, further confirms mineralization in the S1 zone where development is currently advancing towards production from this area. LH01-284 (17.5 g Au/t) at 170m depth, confirms mineralization in the S1/WE junction where development is currently advancing towards production from this area. Hole LH05-063 (14.0 g Au/t) at 370m depth, extends the S1 zone to the east, beyond previously defined ore limits.

Recent exploration drilling focused on the S1, HW and Bonanza zones on the eastern side of the current mine and infrastructure, Table 2. Highlights of this work include the following:

- 9.1 g Au/t over 2.5 metres (m) (Hole LH01-277, true width 2.4 m);

- 5.8 g Au/t over 1.9 m (Hole LH02-393, true width 1.5 m); and

- 5.6 g Au/t over 2.8 m (Hole LH02-375, true width 2.4 m).

The Bonanza zone in the mine workings is normally a narrow (less than 0.60 m wide) vein within a shear running parallel to the principal S1 and S3 shear zones. Hole LH01-277 represents a further, high-grade intersection in the Bonanza zone which confirms that the Bonanza zone opens into a wider vein zone, with good lateral and vertical continuity similar to the principal S1 zone, 200 metres east of the current mine workings. This represents a new eastern extension of the Lac Herbin Deposit. The zone remains open to expansion.

Hole LH02-393 confirms the down-plunge continuity of the principal S1 zone. This intersection confirms mineralization down to a vertical depth of 500 metres, 180 metres vertically below the current depth limit of the mine infrastructure. Hole LH02-375 identified mineralization in the S1/S4 junction area to the west of the mine workings at a depth of 170 metres.

Table 1. Delineation drilling results - Lac Herbin, Val d'Or, Quebec.



----------------------------------------------------------------------------
From To Length Cut True Width
Hole (m) (m) (m) (g Au/t) (m) Zone
----------------------------------------------------------------------------
LH05-050 64.9 66.4 1.5 7.6 1.5 S3
----------------------------------------------------------------------------
LH03-124 19.4 23.2 3.8 13.2 1.6 HW
----------------------------------------------------------------------------
LH03-127 11.7 13.5 1.8 5.3 1.5 HW
----------------------------------------------------------------------------
LH03-125 13.6 17.7 4.1 23.5 2.8 HW
----------------------------------------------------------------------------
LH05-061 58.45 60.05 1.6 6.2 1.5 S1
----------------------------------------------------------------------------
LH05-071 86.5 88.6 2.1 3.6 1.5 S1
----------------------------------------------------------------------------
LH05-073 73.5 75.5 2.0 6.6 1.5 S1
----------------------------------------------------------------------------
LH05-067 64.3 66.5 2.2 19.4 1.5 HW
----------------------------------------------------------------------------
LH01-279 55.1 58.5 3.4 8.6 1.5 WE
----------------------------------------------------------------------------
LH05-063 64.4 69.4 5.0 14.0 4.4 S1
----------------------------------------------------------------------------
LH01-281 90.8 92.7 1.9 10.0 1.5 S1
----------------------------------------------------------------------------
LH01-284 73.35 75 1.7 17.5 1.5 S1
----------------------------------------------------------------------------
LH05-077 5 7.1 2.1 4.2 1.5 HW
----------------------------------------------------------------------------
LH01-285 23 25.3 2.3 7.6 1.6 Flat
----------------------------------------------------------------------------
LH01-294 8.85 10.6 1.8 12.4 1.6 HW
----------------------------------------------------------------------------
LH02-400 39.05 40.55 1.5 4.0 1.5 S1
----------------------------------------------------------------------------
LH02-402 49.5 52.2 2.7 6.9 1.6 S1
----------------------------------------------------------------------------


Table 2. Exploration drilling results - Lac Herbin, Val d'Or, Quebec.



----------------------------------------------------------------------------
From To Length (1)Cut/Uncut True Width
Hole (m) (m) (m) (g Au/t) (m) Zone
----------------------------------------------------------------------------
LH01-277 349.9 352.4 2.5 9.1 2.4 Bonanza
----------------------------------------------------------------------------
LH02-375 181.8 184.6 2.8 5.6 2.4 S1
----------------------------------------------------------------------------
LH02-387A 168.9 172.7 3.8 3.2 3.1 S1
----------------------------------------------------------------------------
LH02-388 90 92.2 2.2 3.7 1.6 HW
----------------------------------------------------------------------------
LH02-393 364 365.9 1.9 5.8 1.5 S1
----------------------------------------------------------------------------
LH02-397 141.9 143.65 1.8 3.5 1.5 S1
----------------------------------------------------------------------------
Cutting Factor: ((1)Cut) - High grade assays cut to 34.29 gAu/t (1.0 ozAu/T)


Exploration and delineation drilling continues to expand the resource potential at its Lac Herbin gold mine in co-ordination with mine production. This approach has been the typical approach of many other gold mines in the Val d'Or area where continued drilling has consistently and significantly extended resources and mine life of operations.

Quality Control:

The technical and scientific content of this press release has been prepared and reviewed by Mr. Olivier Grondin, P.Geol., Chief Geologist and Qualified Person as defined under NI 43-101 guidelines. Assay samples are taken from NQ core, sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. A strict QA/QC program is followed on samples from drill core that includes mineralized standards, blank and field duplicate for each batch of samples. Analyses are performed by Techni-Lab of Ste-Germaine Boule, Quebec.

About Alexis Minerals

Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC"). The Company owns one producing gold mine in Val d'Or and the right to earn a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda. Alexis undertakes exploration in the mineral rich Val d'Or (100% ownership of 212 sq. km.) and Rouyn-Noranda Mining Camps (50% ownership of 785 sq.km and in joint venture with Xstrata Copper). Further information about Alexis Minerals can be found at its website: www.alexisminerals.com

Forward looking information.

This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to, mineralization projections, future production estimates and cost of production projections, projected capital and operating expenditures future exploration plans and techniques, estimates regarding the timing and costs of exploration, mineral prices, and future mining plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions underlying the future-looking information are based upon extensive technical and scientific analysis conducted by the management of the Company, the analysis of external consultants and information obtained by the Company from third parties. Readers should not place undue reliance on forward-looking information. Forward looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

Contact Information