Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

April 22, 2015 10:10 ET

Alexandria Drills High Grade Gold Veins at Orenada, Including 25.3 g/t Gold over 0.9m

TORONTO, ONTARIO--(Marketwired - April 22, 2015) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) ("Alexandria" or the "Company") is pleased to announce the first drill hole assay results from its wintertime exploration drilling program on the western half of its Cadillac Break Properties, Val d'Or, intersecting 111.3 meters grading 1.24 grams/tonne ("g/t") gold from 171.5 meters to 282.8 meters downhole, an interval which includes a number of high grade gold-bearing veins, up to 25.30 g/t gold over 0.9 meters.

Eric Owens, President and CEO, stated, "We have been re-interpreting the geology of Orenada as part of our broader exploration program, specifically identifying flat lying veins. The implications of the high grade, flat veins could be important for the deeper parts of this deposit."

In the first of two holes testing for high grade gold veins within Orenada Zone 4, Diamond drill hole OAX-15-054 intersected several high grade gold veins carrying more than 5 g/t gold, which occur within the Cadillac Break shear zone near the southern boundary of the East Sullivan Granitic Porphyry Intrusion.

Selected assay results from DDH OAX-15-054:
Core Length Au Grade
Zone From (m) To (m) (m) (g/t)
V4 142.7 144.7 2.0 2.49
V4 148.2 149.5 1.3 3.18
Zone 4 171.5 177.0 5.5 3.03
including 171.5 173.6 2.1 5.94
Zone 4 204.7 214.0 9.3 2.33
including 204.7 207.0 2.3 4.61
Zone 4 233.4 282.8 49.4 1.71
including 233.4 235.0 1.6 15.15
and 233.4 234.3 0.9 25.30
including 243.2 245.6 2.4 2.82
including 252.0 253.2 1.2 4.37
including 264.2 266.2 2.0 3.77
including 275.3 282.8 7.5 2.30
Zone 4 302.2 313.3 11.1 2.45
including 302.2 303.7 1.5 3.93
including 311.6 313.3 1.7 10.47

In late 2009, Alexandria issued its first resource estimate (NI 43-101 compliant) at Orenada, focusing on the shallow, open pit potential of the project hosted within the Cadillac Break shear zone. However, past underground mapping at Orenada, which has a 1,000 foot shaft and two exploration drifts, has indicated the presence and importance of relatively flat-lying gold veins within the broad shear zone. These higher grade veins within the broadly disseminated gold zone could be important for the deeper parts of the gold zone below the shallow, potentially open pit mineralization.

Hole OAX-15-054 was the first of two boreholes drilled within the Zone 4 2009 NI 43-101 resource envelope to test the new model. It was drilled with a core-orienting system to collect structural data and will be surveyed with optical borehole imaging to confirm the measurements. Assays are pending for part of the first hole and all of the second hole.

All technical information presented in this press release has been reviewed by Phillippe Berthelot, P.Geo, who is the Company's Qualified Person. All exploration work on the property is conducted under the direct supervision of Mr. Berthelot, and the Company adheres to industry best practices consistent with NI 43-101 for its QA/QC program.

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 one of the largest portfolio of properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec, as well as newly acquired strategic packages in Manitoba and Ontario. Its gold resources are distributed between: (i) three projects on its Cadillac Break Property package, at Akasaba, Sleepy, and Orenada in Val d'Or, Quebec; (ii) Flin-Flon and Snow Lake, Manitoba; (iii) Red Lake and Matachewan, in Ontario; and (iv) Chibougamau, Quebec. The details of Alexandria's property portfolio can be found on the Company's website at www.azx.ca.

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
    Eric Owens, PGeo
    President/CEO
    416-363-9372

    Alexandria Minerals Corporation
    Mary Vorvis
    Vice-President Corporate Development & Investor Relations
    (416) 305-4999
    info@azx.ca
    www.azx.ca