Alexandria Minerals Corporation

Alexandria Minerals Corporation

September 10, 2009 12:46 ET

Alexandria Delineates Multiple High Grade Gold Targets on its Cadillac Break Properties, Val d'Or

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2009) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) reported today that an extensive summer surface sampling and mapping program on its 35 kilometer long Cadillac Break Property Group has resulted in the discovery of new high grade gold targets, with rock chip (grab) samples assaying up to 37.3 g/t Au.

Following its successful first round of drilling on its Akasaba project, where the Company intersected 4.22 g/t Au over 8.48 m (true width), including 24.50 g/t Au over 1.03 m (see Press Release April 30, 2009), the summer season saw the Company embark on a mapping, sampling, trenching and geophysical programme covering the Akasaba, Oramaque, Sabourin, Trivio, and the newly acquired Valdora, properties. At Akasaba, previously reported work aided in the identification of multiple combined Induced Polarization and Magnetic anomalies, including an anomaly a minimum of 1.5 km long along the mine horizon, with significant grab sample results up to 600 m away from the mine area: 26.90 g/t Au, 54.6 g/t Ag, and 4.50% Cu and 10.45 g/t Au, 26.8 g/t Ag and 2.04% Cu (press release June 24, 2009).

Positive sampling results at Akasaba provide further support for previously-reported assays on two gold-bearing zones on the property: a total of 14 samples assayed between 1.38 g/t Au and 12.2 g/t Au from the north and south zones, the former a 640 m long geophysical anomaly just north of the Akasaba Mine, and the latter a 950 m long geophysical anomaly, located 250 m south. Alexandria plans to begin a second round of drilling at Akasaba in mid-October, which will aim toward delineating a National Instrument ("NI") 43-101 resource estimate.

On the adjacent Valdora property, where certain geological structures trend from the Akasaba property, 6 grab samples from quartz veins and altered volcanic rocks assayed over 0.88 g/t Au, including 3.57 g/t Au, 1.85% Cu, and 26.0 g/t Ag, and 3.31 g/t Au, 1.49% Cu and 24.2 g/t Ag. Five km west on the Oramaque property, five samples assayed over 2.87 g/t Au, including 12.75 g/t Au, 25.9 g/t Au and 37.3 g/t Au, principally in gabbros cut by quartz veins. The Company is reviewing these data in light of previous results on the properties.

Eric Owens, President and CEO of Alexandria, said, "These results show that the value of our land package resides just as much in its totality as in individual projects. The Cadillac Break is among the world's most prospective gold trends and demands much more exploration. When combined with the more advanced resource studies underway at Orenada and Sleepy, we have shown that Alexandria's property package has significant potential beyond currently explored areas."

To view the map accompanying this map release please click on the following link:

In other matters, the Company expects to complete and release an NI 43-101 compliant resource estimate on its Orenada property in the coming weeks. Orenada, located on the Cadillac Break about 12 km west of Akasaba, is the most advanced of its properties, and will additionally see an NI 43-101 compliant economic assessment completed in early October. Alexandria will also be completing an NI 43-101 compliant resource estimate for the second of its 3 principal gold projects, Sleepy, located about 12 km east of Akasaba.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Persons, Eddy Canova, PGeo, and Dr. Eric Owens, PGeo. There is no Current Resource on these properties as defined by NI 43-101, and there is no guarantee that an economic gold deposit underlies the properties. More work by an independent Qualified Person ("QP") will be required in order to bring the properties into compliance with resource definitions in NI 43-101. The surface sampling program is consistent with industry best practices and the Company's QA/QC programme continues to be adhered to: samples are recorded, bagged and sent to ALS Chemex Labs in Val-d'Or for preparation and assay. Samples are analyzed for Au, Ag, Cu and Zn, via a 30 gram pulp by FAA for Au and AA for Ag, Cu and Zn. Re-assays by FA gravimetric finish are performed on samples assaying greater than 1.0 g/t Au and re-assays greater than 5.0 g/t Au are checked a second time by FA gravimetric finish.

Alexandria Minerals Corp. is a Toronto-based mineral exploration and development company, focused on the exploration for precious metals on mineral properties located in Northern Ontario and Quebec. The Company's management has extensive global experience with small to large mining companies, from grass-roots exploration to the exploitation of mineral deposits. The Company is a reporting issuer in the provinces of British Columbia, Alberta and 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alexandria Minerals Corp.
    Andreas Curkovic
    (416) 577-9927
    Alexandria Minerals Corp.
    Eric Owens
    (416) 363-9372
    Alexandria Minerals Corp.
    Matt Morrish
    (416) 363-9372