TORONTO, ONTARIO — (Marketwired) — 06/27/13 — Alexandria Minerals Corporation (TSX VENTURE: AZX)(FRANKFURT: A9D)(PINKSHEETS: ALXDF) reported today on assay results from drilling received after the release of the Company-s National Instrument 43-101-compliant resource update at Akasaba (Filed on SEDAR in March 2013). Notably, DDH IAX-12-219 intersected 178.50 m grading 0.27 g/t Au plus 0.25% Cu (0.70 g/t Au Equivalent, „Au Eq“), which indicates the West Zone extends an additional 100 m below the 300 m deep Resource and is open at depth.
In March, 2013, Alexandria filed on SEDAR its updated resource estimate for the Akasaba Gold-Copper project, issuing the following resources (Initially reported on February 7, 2013):
These results represented an increase of 9% for the Indicated Resources and a 263% increase in the Inferred Resources over the Company-s initial resource estimate of a year earlier, with just 18,306 m of drilling during this time. The West Zone is now 500 m long and 400 m deep, averaging some 60 m wide.
Subsequent to the resource update, Alexandria announced step out drill results from the West Zone (See Press Release, April 9, 2013), including 81.65 m grading 0.53 g/t Au + 0.30% Cu (1.04 g/t Au Eq ) in DDH IAX-13-232 and 41.00 m grading 0.22 g/t Au and 0.16% Cu (0.50 g/t Au Eq ) in DDH IAX-13-234, located 50 m down-plunge from and 100 m west of, respectively, the resource. Both holes show that the gold-copper zone continues below and to the west of the resource.
Of the holes reported here, assay results from IAX-12-218, 219 and 235 were not included in the resource update and represent significant results from step-out targets. Highlights include the following (see Table 1 at end of this release for greater detail):
Together, these three drill holes extend the West Zone to the east and west at depths below 250 m.
The following previously unreleased gold-copper intersections in drill holes from the West Zone, drilled prior to the resource update, indicate that the shallow, disseminated gold-copper mineralization is much wider than reported in the resource update:
In addition, two holes, DDH IAX-12-205 and 206, were drilled 100 m and 200 m east of the presumed eastern edge of the West Zone, and the latter, in particular, established that grades and widths above potential open pit cutoff exist to the east, in between the west Zone and the Akasaba Mine area. Furthermore, review of copper contents from drill holes along the main Mine Horizon have also established that open pit widths and grades extend beyond current open pit resources.
The Company is currently in progress with the compilation of more than 70 years of historic data on the broader Cadillac Break group of properties. As a result of this ongoing process the company has delineated a number of drill targets on the property package over and above the high priority area around Akasaba, and expects to delineate more as this process nears its completion.
Program design, management, and Quality Control/Quality Assurance are governed by Alexandria-s exploration group of which Peter Legein, P.Geo, and Eric Owens, P.Geo, are the Company-s Qualified Persons. Mr. Legein and Mr. Owens reviewed the results in this press release. All exploration work on the property is conducted under the direct supervision of 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 .
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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 . 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.
Contacts: Alexandria Minerals Corporation Andreas Curkovic Investor Relations (416) 577-9927
Alexandria Minerals Corporation Eric Owens President/CEO 416-363-9372
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