Alexis Minerals Corporation

Alexis Minerals Corporation

September 07, 2011 07:00 ET

Alexis Continues to Define the Apex Zone at Lac Herbin Mine in Quebec, Intersecting Up to 10.0 g/t Au Over 6.9 Metres

TORONTO, ONTARIO--(Marketwire - Sept. 7, 2011) - ALEXIS MINERALS CORPORATION (TSX:AMC)(OTCQX:AXSMF) ("Alexis" or the "Company") is pleased to announce results from recent drilling on the Apex Zone at its Lac Herbin mine, 10 km northeast of Val D'Or, Quebec. These results are part of the exploration work which was first launched in the fourth quarter of 2010 and is focused on three potential zones near the mine infrastructure--the Bonanza, FL and Apex. This recent drilling activity has been focused on in-fill drilling on the inferred resource envelope as well as expanding the zone in the open directions shown in Figure 1.

Highlights from the drill results from the Apex zone include:

  • 10.0 g/t Au over 6.9 metres from hole AMAR-75
  • 5.5 g/t Au over 11.1 metres from hole AMAR-77
  • 4.4 g/t Au over 8.9 metres from hole AMAR-107

The drilling targeting the Apex Zone identified two flat lenses dipping 22' south-west. The thickness of the Apex Superior lens averages 5.0 meter while the Apex Low lens thickness averages 2.4 meters.

The Apex Zone constitutes the third of three flat mineralized structures, the two previous having already been mined. In all cases, the lenses were located on the border of a known mineralized zone. Compilation work of the flat structures will be undertaken in the fourth quarter of 2011 in order to determine the highest potential zones and integrate these new targets into the 2012 exploration program.

Further to these results, the development of the Apex zone commenced in June 2011 as part of the mine turnaround plan (Please refer to Press Release dated June 8, 2011). The Apex Zone is located within 100 meters of the mine infrastructure and production is forecasted to begin during the first quarter of 2012.

François Perron, the President and CEO of Alexis, comments: "The drilling of the Apex Zone confirmed its potential as it began the year as part of the inferred resource. The development of this new sector has been completed in a few months which demonstrates the ability of our operating team. Furthermore, these new workings will establish a drilling platform from which at least two other underground exploration targets can be tested on the western side of the mine. Additionally, the recognition of this third flat structure has increased our understanding of this flat vein type of mineralization. For this reason, the flat structures will be the subject of further analysis in 2012 with the objective to add to our resource inventory. Our current mine exploration program for 2011 continues on other nearby zones such as FL and Bonanza."

The following table summarizes the recent drill results:

Holes From
True Thickness
g Au/t Zones
2101-82 168.40 172.52 4.12 3.01 Apex Low
AMAR-108 130 133 2.70 3.16 Apex Low
AMAR-110 139.2 143.7 4.50 3.71 Apex Low
LH01-377 111.20 113.10 1.00 7.72 Apex Low
LH01-378 78.8 81.3 1.00 4.56 Apex Low
LH01-379 79.2 85.1 2.10 7.66 Apex Low
LH01-380 59.40 68.40 2.90 5.17 Apex Low
LH01-385 91.3 94.75 1.00 3.48 Apex Low
AMAR-75 165.9 172.8 6.90 10.02 Apex Sup
AMAR-77 143 155.2 11.10 5.49 Apex Sup
AMAR-107 117.4 126.3 8.90 4.36 Apex Sup
LH01-380 83.90 90.40 2.10 8.1 Apex Sup
LH01-381 112.65 116.40 1.00 1.79 Apex Sup
LH01-382 107.00 118.10 3.90 4.55 Apex Sup
LH01-383 85.25 90 1.60 3.94 Apex Sup
AMAR-151 144.2 145.15 0.95 1.88 Apex Low
AMAR-153 144.2 145.15 0.06 2.70 Apex Low
AMAR-204B 135 140.15 5.15 4.64 Apex Sup
AMAR-205 148.65 154.6 5.95 0.86 Apex Sup
AMAR-206 139.55 141.40 1.85 6.50 Apex Sup

Qualified Persons and Quality Control

The technical and scientific content of this press release has been supervised and reviewed by Claude Savard, P. Geo., Exploration Geologist, Lac Herbin mine, Alexis Minerals and Qualified Person as defined under NI 43-101 guidelines. Diamond drill core is logged and sampled by company personnel at the Lac Herbin mine. NQ core is cut in half using a diamond saw with one half bagged and submitted for assay and the remaining half sample retained and archived. BQ core is entirely bagged and submitted for assay. A strict QA/QC program is followed that includes mineralized standards, blank and field duplicate for each batch of samples. Analyses are performed by Techni-Lab of Ste-Germaine Boulé, Québec an ISO/IEC 17043 accredited assay facility. The Laboratory is certified by the Standards Council of Canada for gold analyses utilizing instrumental or gravimetric finish.

About Alexis Minerals

Alexis Minerals Corporation is a Canadian publicly traded mining company concentrating on exploration and mine development. The Company is listed on the Toronto Stock Exchange ("TSX") under the symbol "AMC", and trades in the United States on the Over the Counter QX International ("OTCQX") platform under the symbol "AXSMF". Alexis Minerals is a dynamic and aggressive mining company operating in Canada's richest mining regions: Val-d'Or & Rouyn-Noranda, Quebec, and Snow Lake, Manitoba. Alexis continues production and exploration in the mineral rich Val-d'Or area with property covering over 1,000 km2. The Company also continues work on its newest property at the Snow Lake Mining Camp. Alexis is now in its third full year as a junior gold-producing company and gold production is a priority as the company targets mid-tier gold production levels.

Forward-looking information:

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the impact of the results of the drilling on the Company and its understanding of the property, the timing and amount of future exploration and development of the property, and the future financial or operating performance of Alexis and its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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Contact Information

  • Alexis Minerals Corporation
    Francois Perron
    President and CEO
    (416) 309-2952 or Toll Free: 1 877-717-3027

    Alexis Minerals Corporation
    Louis Baribeau
    Public Relations
    (514) 667-2304 or Toll Free: 1 877-717-3027

    Alexis Minerals Corporation
    Rob Hopkins
    Investor Relations
    (416) 861-5899 or Toll Free: 1 877-717-3027