Alexandria drills 2.06 g/t Au over 77.35 m at Orenada

Oct 11, 2017

2017-10-11 12:15 ET – News Release

Mr. Eric Owens reports

ALEXANDRIA MINERALS ANNOUNCES SHALLOW IN-FILL DRILLING INTERSECTS 4.62 G/T GOLD OVER 30.05 METRES AT ORENADA ZONE 4, FURTHER SUBSTANTIATES GOLD MINERALIZATION ABOVE 200 METRES

Alexandria Minerals Corp. has distributed assay results from its 30,000 metre summer drill program at Orenada near Val d’Or, Que. The results from this drill program will inform an updated resource estimate in the coming months.

The five drill holes reported here are located within 100 metres east of the open pit at Orenada zone four. They are part of a detailed drilling program intended to increase confidence in the continuity and volume of gold mineralization in the upper 250 metres.

Highlights

Diamond drill hole OAX-17-153 intersected 4.62 grams per tonne gold over 30.05 metres between 110 metres and 140 metres depth, adding to the continuity of robust gold mineralization in the subsurface;
DDH OAX-17-158 intersected 3.41 g/t gold over 25.60 metres, between 69 metres and 95 metres depth, confirming the presence of gold at shallower depths than the previous 2009 resources, thereby expanding mineralization at this location;
DDH OAX-17-159 intersected 2.06 g/t gold over 77.35 metres, between 143 metres and 221 metres depth, again confirming continuity of gold mineralization at these levels;
Assay results to date have identified a volume of broad, relatively continuous gold mineralization that is up to 700-metres long, 250-metres deep and up to 50-metres wide, within the larger 1.1-kilometre gold vein trend at zone four, still open along strike and at depth.

Eric Owens, president and chief executive officer of Alexandria, stated: “We are extremely pleased with these results and the progress to date. The shallow occurrence of the multiple, flat, high-grade gold veins together with their intervening, gold-bearing wallrock make a great bulk-tonnage target. These wide intersections will add to the gold grades that we have already been building, and we are anticipating further strong assays in the coming weeks and months.”

The company has now completed its drill program at Orenada zone four and zone two, which began in June, 2017. A total of 124 holes were drilled in this program, for a total of 32,280 metres, with assay results pending for about 80 holes. Drilling has now identified the gold veins over two kilometers along strike, open to the east and west, and up to 300 metres deep, also open below this depth. Interpretation and modelling of the gold deposit is underway, which aims at a new resource estimate by January, 2018. Gold mineralization at Orenada zone four is located in the Cadillac Break shear zone, associated with two vein sets: an earlier folded, schistosity-parallel set, which is cross-cut by a later, low-angle and relatively undeformed vein set. The veins are principally developed in a deformed and altered tuff, occasionally extending beyond the tuff contacts. A principal, central gold zone with long intersections of relatively continuous gold mineralization, together with related subsidiary zones above and below the principal zone, has been identified over at least 700 metres along strike, to more than 300-metres deep, and up to 50-metres wide. The drill holes reported here provide further evidence and continuity for this zone, adding to previously-released holes, such as DDH OAX-17-100, which intersected 2.84 g/t gold over 217 metres (see press release May 10, 2017).

Next steps

With the completion of the summer drilling, the company’s focus will be on wrapping up the processing of the remaining drill core from that program with the aim of incorporating this data into the new resource estimate. Ongoing compilation of historical data (drill holes, geophysics and geochemistry) has already identified numerous, strong targets to be tested by drilling, with geological signatures similar to those of Orenada zone four, over a four-kilometre trend to the west and a similar distance to the east, in anticipation of a follow-up, step-out drill program. Further details can be viewed in the addendum/appendix to the original document.

Analytical procedures and Quality assurance/quality control

Program design, management and QA/QC are conducted by Alexandria’s exploration group under the supervision of Philippe Berthelot, PGeo, who is the company’s qualified person. Details of sampling procedure can be found in an addendum to the original document. Mr. Berthelot has reviewed the contents of this press release. Further information about the company is also available on the company’s website.

About Alexandria Minerals Corp.

Alexandria Minerals is a Toronto-based junior gold exploration and development company with strategic properties located in the world-class mining districts of Val d’Or, Que,, Red Lake, Ont., and Snow Lake-Flin Flon, Man. Alexandria’s focus is on its flagship property, the large Cadillac Break property package in Val d’Or, which hosts important, near-surface, gold resources along the prolific, gold-producing Cadillac Break, all of which have significant growth potential.

We seek Safe Harbor.

http://www.azx.ca/2017-news-releases/