TORONTO, ONTARIO, Apr 30, 2015 (Marketwired via COMTEX) — Alexandria Minerals Corporation (AZX)(frankfurt:A9D)(otc pink:ALXDF) (“Alexandria” or the “Company”) is pleased to announce new high grade assay results in diamond drill hole OAX-15-54 at its Orenada project in Val d’Or, updating previously released results (Press Release April 22, 2015). The updated data expand the earlier reported drilled intersection to 3.14 g/t gold over 27.8 meters, including 17.03 g/t over 3.4m and 131 g/t gold over 0.4m.
These results lengthen the mineralized drill intersection from 111.3 meters grading 1.24 g/t gold to 158.5 meters grading 1.43 g/t gold, and deepen the zone from 282.8 meters downhole to 330.0 meters downhole.
Eric Owens, President and CEO, stated, “These new results lie below past drilling, and open up potential for deeper gold mineralization. We anticipate further positive assay results, which are still pending, from the second hole to test these veins.”
The highlights of the new results are as follows:
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Core length Gold grade
Hole name From (m) To (m) (m) (g/t)
(uncapped)
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171.5 330 158.5 1.43
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Including 302.2 330 27.8 3.14
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OAX-15-054 Including 312.6 313.3 0.7 18.6
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Including 324.6 328 3.4 17.03
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Including 324.6 325 0.4 131
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Drilling on Orenada Zone 4, part of the Company’s 2,500 meter wintertime drilling program, has focused on the re-interpretation of past drill hole data and underground mapping, resulting in the recognition of flat-lying, high grade veins within the steeply-dipping Cadillac Break shear zone. The shear zone hosts the low-grade, bulk- tonnage Current Resources at Orenada, which were the focus of the 2009 resource estimate (Press Release September 16, 2009).
Borehole OAX-15-054 is the first of two boreholes drilled within the Zone 4 Current Resource envelope (National Instrument 43-101 compliant) to test specifically for high grade veins. 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 the entire 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
About 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.
Contacts: 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
SOURCE: Alexandria Minerals Corporation