Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

March 29, 2007 11:14 ET

Alexandria Intersects 21.37 g/t Gold Over 4.05 m on Orenada Property, Val d'Or

TORONTO, ONTARIO--(CCNMatthews - March 29, 2007) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) reports that it intersected high-grade gold zones in two holes drilled 375 metres apart along the Cadillac Break at the Orenada Property, Val d'Or, Quebec. Diamond Drill Hole (DDH) AAX-07-12, intersected 12.55 meters (core length) grading 7.90 g/t gold, including a 4.05 meter wide zone (core length) grading 21.37 g/t gold containing visible gold, and DDH AAX-07-11 intersected 25.60 m grading 2.89 g/t gold. Estimated true widths are given in the table below.

Assay results from DDH AAX-07-10, 11, and 12 suggest that historic gold mineralization at both the Orenada #2 and Orenada #4 Zones (See Figure 1 below) may be more extensive than previously tested by past exploration. In addition, these drill holes are located 1.5 to 2 km west along the Cadillac Break from the new discovery reported in DDH AAX-07-9 (Alexandria Press Release March 27, 2007) which intersected 1.97 g/t gold over 10.18 m, continuing the exploration successes the Company is having over this portion of the Cadillac Break.

To view Figure 1. Location map and summary of new results, Orenada Claims, Val d'Or, please click on the following link: http://www.ccnmatthews.com/docs/0329azx.pdf

DDH hole AAX-07-10, which pierced 200 meters down dip from historic drill holes just east of Orenada #2, intersected 23.35 meters grading 0.48 g/t gold, and an additional, higher grade gold zone of 4.20 meters grading 2.98 g/t gold. Infill sampling will be carried out to complete the sampling between mineralized sections.

DDH hole AAX-07-11, drilled 30 m down dip from known mineralization at Orenada #2, intersected 12.60 m grading 5.29 g/t gold as part of the larger zone reported above, in addition to a separate zone 8.50 m wide grading 1.16 g/t gold. Gold in both holes 10 and 11 is hosted by deformed, silicified sedimentary rocks with quartz-carbonate veins, pyrite and arsenopyrite. Orenada #2 is open along strike and at depth.

Drill hole AAX-07-12 was drilled 30m east of the nearest hole on the Orenada #4 Zone, intersecting the zone at about the 200m depth. Gold is associated with silica, biotite, sericite, quartz-carbonate veins, pyrite and arsenopyrite. The results at depth from the holes AAX-07-10, 11 and 12 are extremely positive, and this provides management with encouragement to explore these targets at depth, eventually with a second drill.

The Orenada #4 zone was discovered by Aur Resources Inc. in the late 1980's, and estimated by them in 1990 to contain 2.1 million tonnes grading 1.47 g/t gold. As an historic resource, the deposit is not a Current Resource as defined in National Instrument 43-101, and the data cannot be relied upon, as a Qualified Person (QP) has not reviewed in detail the historic data. The Company currently views it only as an advanced exploration target.



The table below summarizes the results from the recent Alexandria holes:

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From To Core Estimated Au
Hole (m) (m) Length (m) True Width (m) g/t
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AAX-07-10 289.00 293.95 4.95 4.06 0.89
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300.65 324.00 23.35 19.15 0.48
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329.15 330.40 1.25 1.02 1.68
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333.30 346.50 13.20 10.82 0.35
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352.40 360.45 8.05 6.60 0.24
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363.70 372.30 8.60 7.05 1.65
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incl. 363.70 367.90 4.20 3.44 2.98
------------------------------------------------------------------
379.85 383.70 3.85 3.16 2.06
------------------------------------------------------------------
388.10 390.20 2.10 1.72 5.66
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432.35 433.10 0.75 0.61 2.79
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------------------------------------------------------------------
AAX-07-11 46.90 101.00 54.10 38.72 0.54
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incl. 92.20 98.00 5.50 4.15 1.20
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134.40 160.00 25.60 18.32 2.89
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incl. 135.40 148.00 12.60 9.02 5.29
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183.70 192.20 8.50 6.08 1.16
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incl. 183.70 186.20 2.50 1.79 2.79
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------------------------------------------------------------------
AAX-07-12 100.00 103.50 3.50 2.09 0.48
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208.90 212.10 3.20 1.91 0.56
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255.75 268.30 12.55 7.48 7.90
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incl. 255.75 259.80 4.05 2.41 21.37
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and 257.70 258.20 0.50 0.30 88.70
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275.60 280.85 5.25 3.13 1.88
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incl. 277.10 280.85 3.75 2.23 2.34
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Alexandria is earning a 50% interest in the Orenada and 9 other properties in the area from Aur Resources Inc. by incurring exploration expenditures of $3 million and paying $500,000 in cash/shares over a five year period to July 2011. The Company can earn an additional 50% by completing further expenditures of $5 million by July 2014. The Company is aggressively exploring for gold on its Val d'Or properties and has completed approximately 3,800 m of drilling of the 15,000 m program in 2007. Drilling continues on the Bloc Sud West property, about 6 kilometers east of the Oramaque property, where it is testing coincident geophysical and geochemical anomalies on and near the Cadillac Break. Additional drilling details can be viewed by visiting the Company's website at www.azx.ca or with the link http://www.azx.ca/currentdrilling.asp.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Person, Eddy Canova, PGeo. The properties do not contain current mineral resources as outlined by National Instrument 43-101 Standards for Disclosure for Mineral Projects, nor does the Company intend to communicate such. More drilling will be required to bring the properties into compliance with definitions of resources as delineated by NI-43-101 standards.

The drilling program employs a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Drill core is NQ-sized, and is logged, sampled and split at the Company's Val d'Or office, in intervals of 0.3 meters to a maximum of 1.5 meters. The samples are recorded, bagged and sent to Bourlamaque Assay Lab in Val-d'Or for 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.

WARNING: The Company relies upon litigation protection for "forward-looking" statements. 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

  • Coal Harbor Communications
    (604) 662-4505 or Toll Free: 1-877-642-6200
    (604) 662-4547 (FAX)
    Email: dale@coal-harbor.com
    or
    Alexandria Minerals Corporation
    Eric Owens
    President
    (416) 363-9372
    Email: info@azx.ca
    Website: www.azx.ca