Alexis Minerals Corporation
TSX : AMC

Alexis Minerals Corporation

December 04, 2007 08:00 ET

Alexis Pours Six Gold Dore Bars in Ongoing Custom Milling Campaign on Lac Herbin

Reports New Underground Drill Results, Including 0.95 Ounces Gold Per Ton Over 7.2 Feet (32.8 g Au/t Over 2.2 Meters)

TORONTO, ONTARIO--(Marketwire - Dec. 4, 2007) - Alexis Minerals Corporation (TSX:AMC) is pleased to announce the pouring of six gold dore bars, a mixture of gold and silver, for a cumulative weight of 3,980.4 troy ounces. in an ongoing custom milling program of a 50,000 tonne bulk sample obtained during Phase IV underground exploration on the Lac Herbin gold deposit near Val-d'Or, Quebec. Gold pours will continue until mid-December and completion of the processing of the bulk sample. In addition, remaining assay results for the 2007 Lac Herbin underground drilling campaign have been received. Good results continue to be received from the S1, S2 and S3 Zones. Drill results continue to expand all zones within the deposit, in particular the size of the "Deep South" (S3) high grade zone discovered in January 2007.

"Underground exploration continues to confirm the quality and strong lateral continuity of mineralization in shear-vein systems at Lac Herbin," said David Rigg, President and CEO of Alexis Minerals. "The Phase IV program will be completed in mid-December and a new Resource evaluation of the deposit by year end. We continue to be encouraged by the potential of deposit, with all zones remaining open below the current depth limit of drilling. Planning for a potential Production Decision and continued exploration in 2008 with up to five drill machines is well advanced."

Highlights from the recent assay results (Table 1) include: ((i)Cut Grades - See note in Table 1):

S1 Zone

- 22.79 (20.48 cut(i)) g Au/t over 1.6 (LH02-212) including,

-- 38.9 (24.29 cut(i)) g Au/t over 0.8 m

- 19.54 (14.38 cut(i)) g Au/t over 4.3 m (LH02-189, delineation drill hole)

- 23.0 (16.23 cut(i)) g Au/t over 5.3 m (LH02-224, delineation drill hole)

- 32.8 (32.8 cut(i)) g Au/t over 2.2 m (LH02-225, delineation drill hole)

S2 Zone

- 7.31 g Au/t over 2.1 m (LH02-213)

S3 Zone

- 11.89 g Au/t over 7.2 m (LH02-214) including,

-- 18.9 g Au/t over 4.0 m

- 9.11 g Au/t over 4.5 m (LH02-213) including,

-- 25.1 g Au/t over 1.50 m

Underground diamond drilling has been temporarily suspended under the regulations of Quebec Mining Act during the bulk sampling program but will re-commence early in the New Year with four (4) drill machines. In the meantime, a surface drill program of 15 holes for 1,700 metres is being undertaken to delineate an area of known, near-surface mineralization. The target represents the up dip extension of the HW zone in an area lying to the north of Herbin Lake. The surface program will be completed before year end.

A total of 40,000 m of underground diamond drilling is planned for Lac Herbin in 2008. A fifth drill machine is scheduled to join the program in Q2-2008 to assist with deeper exploration of the deposit between the 400- and 800-m elevations and below all previous drilling. The 2008 program will include further ore definition and delineation drilling to infill areas of Inferred Resources and provide sufficient information for future mine planning and production. All zones currently remain open to depth with the S3 and S1 zones exhibiting a 250-m strike length of mineralization at the current depth limit of drilling. The new HW2 zone, the LH, WE and HW, and numerous potential shear-shear intersections, commonly the location of higher grade and wider mineralization; will be evaluated through this program.

Phase IV Underground Program Update

A total of 1,940 m of lateral development has been completed during Phase 4; 450 m of lateral drifting along mineralized veins and 1,500 m as waste development to access mine areas and provide suitable drill stations for exploration and delineation drilling. 26,727 metres of underground exploration and delineation drilling during the program have provided continuing encouragement towards expanding the gold Resources on the property. A revised Resource estimate is scheduled for year end.

Lateral development and bulk sampling along the S1W and HW zones, and from one area characteristic of the "Flat-Swarm" style mineralization, has demonstrated excellent strike continuity to mineralization and has contributed to a 50,000 ton bulk sample which will be processed during the final stages of the Phase IV underground program. Milling of low-grade stockpile material and development ore commenced on November 5th. The bulk sample will include milling of a further 30,000 tons from test stopes on S1, HW and Flat Swarm zones. The 50,000 ton sample is expected to be processed by mid-December, 2007.

Six gold dore bars, a mixture of 80 - 90% gold with recovered silver, for a cumulative weight of 3,980.4 troy ounces, have been poured to date from the ongoing custom milling program. Gold pours will continue until mid-December and completion of the processing of the bulk sample. A reconciliation of the recovered gold will then be undertaken to determine the overall grade correlation of the sample to the cut-off grades that will be applied to future mining and exploration of the deposit. The dore bars have been shipped to the Royal Canadian Mint for refining and determination of gold content.

Quality Control

The Milling Campaign on the Lac Herbin bulk sample is being undertaken on a commercial basis by Usine Camflo Inc., Malartic, Quebec and is being supervised on behalf of Alexis by Maureen Paterson, P.Eng., Metallurgist, a Qualified Person as defined under NI 43-101 guidelines. A strict QA/QC program is followed on samples taken from the mill circuit. Rejects are kept for future reference or metallurgical testing. Analyses are performed by Bourlamaque Assay Labs - Val-d'Or (Quebec) for Camflo. Analyses are performed by ALS Chemex - Chimitec of Val-d'Or (Quebec) for Alexis.

The Lac Herbin underground program is supervised by Mr. Olivier Grondin, P.Geo. and Patrick Sevigny, Eng., recently promoted from Chief Engineer to Project Manager; Qualified Persons as defined under NI 43-101 guidelines. Assay samples are taken from underground exploration drill core sawed in half with one half sent to a commercial laboratory and other half retained for future reference. Whole core sampling procedures are followed on infill drilling and delineation drilling. A strict QA/QC program is followed which includes mineralized standards, blank and field duplicate for each batch of samples. Analyses were performed by ALS Chemex - Chimitec of Val-d'Or (Quebec).

The content of this press release has been reviewed by the respective Qualified Persons.

About Alexis Minerals

Alexis Minerals Corporation is a Canadian exploration and development company listed on the Toronto Stock Exchange. Alexis holds an outstanding portfolio of properties covering the Val-d'Or and Rouyn-Noranda Mining Camps in Quebec. Alexis owns the 1400 tonne per day Aurbel gold mill and holds a 100%-interest in the Aurbel property. Alexis will vest into a 100% ownership of all remaining interests of Aur Resources on approximately 212 square kilometres of the Val-d'Or Mining Camp in early 2008. Alexis also has the right to earn-in into a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda. The Company is currently advancing towards a 50% interest in 825 square kilometres of the Rouyn-Noranda Mining Camp in JV with Xstrata Copper Canada (formerly Falconbridge Ltd.). Alexis is following strategic exploration approaches across these properties for both gold and base metals, with a focus on the potential for gold production from the 100%-owned Lac Herbin and Lac Pelletier deposits during 2007 - 2008. One surface drill is currently active in Val-d'Or and one surface drill in Rouyn-Noranda.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements".




Table 1 - Underground Diamond Drilling Results - Lac Herbin Project,
Val-d'Or, Quebec

----------------------------------------------------------------------------
Uncut Cut True
Hole No. From - To (m) Core Zone Grade Grade Width
Length (m) (g Au/t) (g Au/t) (m)
----------------------------------------------------------------------------
LH02-213 354.3 - 357.6 3.3 HW 1.55 1.8
----------------------------------------------------------------------------
LH03-048 31.8 - 34.7 2.9 S1 4.55 2.5
----------------------------------------------------------------------------
LH02-212 330.9 - 332.5 1.6 S1 22.79 20.48 1.6
----------------------------------------------------------------------------
including 330.9 - 331.7 0.8 38.9 34.29 0.8
----------------------------------------------------------------------------
LH03-059 29.5 - 33.0 3.5 S1 LV 3.0
----------------------------------------------------------------------------
LH02-213 362.6 - 366.3 3.7 S1 5.05 3.6
----------------------------------------------------------------------------
LH02-214 367.4 - 369.0 1.6 S1 Veining - LV 1.5
----------------------------------------------------------------------------
LH03-051 67.8 - 72.2 4.4 S1 2.75 4.2
----------------------------------------------------------------------------
LH03-052 81.8 - 83.3 1.5 S1 5.71 1.5
----------------------------------------------------------------------------
LH03-053 93.7 - 95.4 1.7 S1 2.2 1.5
----------------------------------------------------------------------------
LH03-054 93.4 - 95.2 1.8 S1 1.63 1.6
----------------------------------------------------------------------------
LH03-055 76.2 - 77.7 1.5 S1 Veining - LV 1.5
----------------------------------------------------------------------------
LH03-056 80.9 - 82.5 1.6 S1 Veining - LV 1.5
----------------------------------------------------------------------------
LH03-057 92.4 - 94.0 1.6 S1 Shearing - LV 1.5
----------------------------------------------------------------------------
LH02-213 245.9 - 248.0 2.1 S2 7.31 1.8
----------------------------------------------------------------------------
LH02-214 242.3 - 243.9 1.6 S2 3.39 1.5
----------------------------------------------------------------------------
LH02-212 212.0 - 216.5 4.5 S3 Shearing - LV 4.5
----------------------------------------------------------------------------
LH03-048 179.7 - 186.6 6.9 S3 3.83 6.0
----------------------------------------------------------------------------
including 179.7 - 181.2 1.5 9.84 1.3
----------------------------------------------------------------------------
LH02-213 223.8 - 228.3 4.5 S3 9.11 4.4
----------------------------------------------------------------------------
including 224.4 - 225.9 1.5 25.1 1.5
----------------------------------------------------------------------------
LH03-048 179.7 - 186.6 6.9 S3 3.83 6.0
----------------------------------------------------------------------------
including 179.7 - 181.2 1.5 9.84 1.3
----------------------------------------------------------------------------
LH03-050 170.8 - 173.0 2.2 S3 6.09 2.0
----------------------------------------------------------------------------
LH03-059 174.0 - 184.3 10.3 S3 4.09 9.2
----------------------------------------------------------------------------
including 175.4 - 177.0 1.6 13.4 1.4
----------------------------------------------------------------------------
and 183.0 - 184.3 1.3 12.8 1.2
----------------------------------------------------------------------------
LH02-214 224.0 - 231.2 7.2 S3 11.89 6.8
----------------------------------------------------------------------------
including 227.2 - 231.2 4.0 18.9 3.8
----------------------------------------------------------------------------
LH03-058 189.2 - 191.0 1.8 S3 1.48 1.5
----------------------------------------------------------------------------
LH02-215 234.9 - 238.7 3.8 S3 3.98 3.7
----------------------------------------------------------------------------
LH02-216 227.7 - 230.3 2.6 S3 5.5 2.5
----------------------------------------------------------------------------
LH02-217 223.7 - 225.6 1.9 S3 Shearing - LV 1.9
----------------------------------------------------------------------------
LH02-218 242.8 - 245.1 2.3 S3 Veining - LV 2.2
----------------------------------------------------------------------------

Notes: (i)Cut Grade- all assays in excess of 34.28 gAu/t are cut
conservatively to 34.28 gAu/t (or 1.0 troy ounce/tonne), a common
industry practice. Cutting factors at Lac Herbin have been based on
statistical results of the bulk sampling and test milling program
completed in November 2006 and reported in January 2007 (see Press
Release: January 16, 2007).

LV equals Low Values
QT equals Quartz Tourmaline
VG equals Visible native Gold


Contact Information

  • Alexis Minerals Corporation
    David Rigg
    President and CEO
    (416) 861-5889
    (416) 861-8165 (FAX)
    or
    Alexis Minerals Corporation
    Peter Cashin
    Investor & Corporate Affairs
    (416) 861-5905
    or
    Alexis Minerals Corporation
    Louis Baribeau
    Relationiste, Quebec
    (514) 667-2304
    Email: info@alexisminerals.com
    Website: www.alexisminerals.com