Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D
OTC PINK : ALXDF

Alexandria Minerals Corporation

February 17, 2016 09:00 ET

Alexandria Begins 2,000 Meter Drill Program in Val d'Or

TORONTO, ONTARIO--(Marketwired - Feb. 17, 2016) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(OTC PINK:ALXDF) is pleased to announce a 2,000 meter drill program to begin later in February, focusing on the Company's Porphyry Gold-Copper Program in Val d'Or, Quebec.

The drill program will test several targets on Alexandria's Cadillac Break Properties in Val d'Or Quebec, including the following:

  • The Zone 5 Breccia, a 1.5 kilometer long geophysical anomaly with coincident drill assays up to 31.0 g/t gold over 0.61 meters, 5.7 g/t gold over 5.48 meters, and 2.0 g/t gold and 1.1% copper over 8.8 meters,
  • The nearby Hogge Zone, another magnetic anomaly with coincident drill assays of up to 45.9 g/t gold over 1.5 meters, and 11.88 g/t gold and 0.64% copper over 3.0 meters,
  • Selected geophysical anomalies within the Center Post Intrusion, an alkalic "granite" which hosts wide copper intersections such as 0.22 % copper over 150 m, and
  • Three short holes to test for Triangle Zone-style gold mineralization on the Company's Airport property west of its porphyry program.

Eric Owens, President and CEO, said, "We are testing some exciting targets, generated out of our recent geophysical and geological activities, which were themselves following up on our discovery of the Akasaba West Zone in 2012. Since that discovery, we have been focusing on gold-copper targets on the western half of our property package and believe there is great potential for a significant discovery."

Four priority drill targets have been selected on the Zone 5 Breccia, located some 500 meters northeast of the Company's Orenada Zone 4 gold deposit. The four holes will test 700 meters of strike length along the altered breccia which hosts disseminated, fracture and veinlet gold and copper.

Sporadic drilling on Zone 5 dates back to the 1930's, with focus on the western end of the strongly magnetic zone, and recorded gold and copper intersections, such as 1.45 g/t gold and 0.71% copper over 16 meters, 1.32 g/t gold and 0.68% copper over 9.45 meters, and 6.8 g/t gold and 1.8% copper over 0.3 meters.

However, none of the past holes traversed completely across the breccia zone; most skirted the edges or only partially penetrated the breccia. Relatively recent recognition of the character and mineralogy of the breccia, and of the northerly dip, has given Alexandria geologists a better understanding of the geology and the ability to complete holes which cross the breccia in its entirety.

The Zone 5 breccia lies along the south flank of, and parallel to the contact with, the Center Post Intrusion, a polyphase, alkalic "granite". The "granite" is an important contributor to the gold and copper story in the area, and is itself host to disseminated and fracture copper and gold mineralization.

To test the altered contact zone further east, Alexandria will complete 1 hole below the Hogge Zone, about 1.5 km east of Zone 5. Past drilling at the Hogge Zone has intersected both high grade and disseminated gold and copper such as 45.9 g/t gold over 1.5 meters; 8.4 g/t gold, 0.14% copper and 5.1 g/t silver over 10.2 meters; and 1.2 g/t gold over 35.1 meters. Much of the Hogge Zone drilling was near surface, rarely exceeding 50 m depth. Alexandria intends to test the Hogge Zone Breccia well below that depth.

Two holes are also planned to test geophysical anomalies within the alkalic "granite". Past drilling in the Intrusive Rocks near the southern contact have shown that copper can occur in low grades over great widths, as attested by the following historic drill assays: 0.27% copper over 150.3 meters and, in a separate hole, 0.22% copper over 211.5 meters. Alexandria well test previously undrilled anomalies that suggest either structural control and/or mineralogical alteration.

In addition to the Porphyry Drill Program, the Company will test 3 Triangle Zone-style gold targets on its Airport property 4 km west of the Porphyry drill program, and 500 meters south of Integra's Triangle Zone. These are the first such holes to target such gold veins on the Airport Property.

Further information about the Company is available on the Company's website, www.azx.ca, or our social media sites listed below:

Facebook: https://www.facebook.com/pages/Alexandria-Minerals-Corporation-AZXTSXV/186115074772628

Twitter: https://twitter.com/azxmineralscorp

YouTube: http://www.youtube.com/AlexandriaMinerals

Flickr: http://www.flickr.com/alexandriaminerals/

About Alexandria Minerals Corporation

Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with important gold resources on one of the largest properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec, additional gold-copper resources in the world class Snow Lake-Flin Flon mining district of Manitoba, and the notable Red Lake Mining District of northern Ontario.

WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alexandria Minerals Corporation
    Mary Vorvis
    Vice President, Corporate Development and Investor Relations
    (416) 305-4999

    Alexandria Minerals Corporation
    Eric Owens
    President/CEO
    416-363-9372
    info@azx.ca
    www.azx.ca