Alexandria Minerals Corporation

TSX VENTURE : AZX
FRANKFURT : A9D
PINKSHEETS : ALXDF


Alexandria Minerals Corporation

April 17, 2014 12:44 ET

Alexandria Plans Drill Holes to Test Geophysical Anomalies on its Akasaba Project, Quebec

TORONTO, ONTARIO--(Marketwired - April 17, 2014) -

Editors Note: There is an image associated with this press release.

Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) is pleased to provide an update on drill target planning related to its recently completed geophysical survey on its 100%-owned Akasaba project in Val d'Or Québec, which includes a very strong untested 700m long geophysical anomaly east of the Akasaba Mine.

Over the winter, the Company completed a surface Ipower3D Induced Polarization ("IP") survey over its Akasaba and Valdora projects, previously reported on March 12, 2014. Results from this survey show that the main Mine Horizon at Akasaba yields a very strong chargeability anomaly, which is consistent with the Akasaba main ore zones below the past-producing Akasaba Mine.

Of particular note is a very strong 700m long anomaly, similar to the Akasaba Mine Horizon, which occurs 1200 m along strike to the east of the Akasaba historical Mine, and will be a high priority target (See Figure 1 below). This target is as yet untested and, like the main Mine Horizon, this anomaly has a vertical extent of more than 650 m, appearing to plunge to the east.

To view Figure 1. High Chargeability Anomalies (in Red and Yellow colors) on IPower3D map of the Akasaba Mine Horizon and showing the strong IP anomaly to the east (taken from 150m below surface), please visit the following link: http://www.marketwire.com/library/20140417-NewDrillTarget.jpg.

The IPower 3D was selected to better aid Company geologists in selecting both shallow and deep-level targets as well as to define new along strike targets. These anomalies are vertically extensive, expressing themselves from surface to the maximum survey depth of 650m.

Alexandria geologists are in the process of reviewing the most recent geophysical results and planning additional drilling exploration work on the Akasaba and Valdora projects.

The Mine Horizon at Akasaba hosts the following Current Resources from the surface down to 650 m vertical depth:

Tonnes Grade (g/t Au) Ounces Gold
Underground Indicated 609,300 5.93 116,240
Underground Inferred 1,475,600 5.58 264,960
Main Pit Indicated 3,009,200 1.37 132,550
Satellite Pit Indicated 219,900 1.93 13,640

Note: Resources are stated as released in press release from February 20th, 2014 http://azx.ca/news/2014/news20140220.html

From 2011 to 2013, Alexandria discovered and built a significant gold-copper resource in the southwestern part of its Akasaba property, the West Zone, hosting a National Instrument 43-101 compliant Inferred Resource of 14 million tonnes with an average grade of 0. 7 g/t gold and 0.4% Cu (see Press Release February 7, 2013).

Alexandria recently sold the West Zone to Agnico Eagle Mines ("AEM") for $5 million plus 2% NSR (Press Release January 14, 2014). AEM reports that it has since completed its infill drilling program on the West Zone, and is currently working on community outreach, environmental permitting and geotechnical studies as it moves down the path toward production.

Drill testing of the geophysical targets will commence in June, after spring thaw runs its course. The Company is currently wrapping up a 4,000 m drill program on its Sleepy project, located 15 km east of Akasaba.

Program design, management, and Quality Control/Quality Assurance are governed by Alexandria's exploration group of which Phillippe Berthelot, P.Geo, is the Company's Qualified Person. Mr. Berthelot has reviewed the results in this press release. All exploration work on the property is conducted under the direct supervision of Mr. Berthelot and Emilie Batailler P.Geo. The QA/QC program is consistent with NI 43-101 and industry best practices and has been previously addressed in the NI 43-101 Technical Report on the Cadillac Break properties (February 2008) as well as in subsequent NI 43-101 reports found on the Company's website or on www.sedar.com.

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. Global gold resources are distributed between three projects on its Cadillac Break Property package, Akasaba, Sleepy, and Orenada, the details of which can be found on the Company's website at www.azx.ca. The Company is currently focused on advancing its Akasaba project. Agnico-Eagle Mines Ltd., with two producing gold mines in the region, owns roughly 10% of the Company.

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
    416-305-4999

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