Alexandria drills 1.8 m of 36.62 g/t Au at Orenada
2018-04-09 16:33 ET – News Release
Mr. Walter Henry reports
ALEXANDRIA INTERSECTS NEW GOLD ZONES WEST OF ORENADA WITH UP TOA 1.80 METRES AT 36.62 G/T GOLD
Alexandria Minerals Corp. has released the assay results from the first eight diamond drill holes from its 2018 winter drill program on new areas west and northwest of the company’s Orenada property in Val d’Or, Que. For the 2018 winter program the company drilled 34 holes for 12,072 metres. The drilling to the west of Orenada tested the Near West and Airport zones and to the northwest the Centremaque zone, designed to test for new zones of gold mineralization within favourable geological and geophysical targets along or adjacent to the Cadillac Break.
Highlights
- Drill hole CAX-18-001 intersected 1.80 metres at 36.62 g/t gold (Au), including one m at 40.57 g/t Au at a depth of 337.10 m, and 0.65 m at 14.50 g/t Au at the new Centremaque target located northwest of Orenada confirming high-grade gold north of the Cadillac Break;
- The results of drilling from the North zone of the Near West target returned up to 15.90 m at 2.25 g/t Au, including 6.50 m at 3.70 g/t Au from hole OAX-18-241, and four m at 3.18 g/t Au in hole OAX-18-250. The drilling is testing western extensions of the Orenada system;
- Initial drilling from the first drill hole at the new Airport target returned up to one m at 3.93 g/t Au from hole AAX-18-050.
Alexandria has drill targeted three new target areas during the winter of 2018, completing 12,072 m of drilling in 34 holes at the Centremaque (seven holes), Near West (20 holes) and Airport (seven holes) target areas. The results of the eight holes from the three areas occur to the west and northwest of Orenada are included in this release. No results from this program are included in the current resource estimate under way and all areas tested occur outside of and will add to the potential to add to the current resource footprint.
Centremaque target
Two gold-bearing zones were intersected at the new Centremaque target located two kilometres west of the Orenada open pit. The Centremaque property is the subject of an earn-in option agreement with Golden Valley Mines as detailed in a news release dated April 25, 2017.
A total of seven drill holes for 3,348 m have been completed at Centremaque of which two are included in this release (CAX-18-001 and CAX-18-003) to test the two known zones of mineralization. The shallow zone is hosted in brecciated, biotite and chlorite-altered ultramafic volcanics with up to 5 per cent pyrrhotite and 1 per cent chalcopyrite from 285.85 m to 286.50 m and returned up to 0.65 m at 14.50 g/t Au in hole CAX-18-001. The deeper zone contained a zone of chlorite-tourmaline altered sediments/volcanics located north of the ultramafics, containing up to nine visible gold grains gold grains between 337.10 m and 338.75 m. The zone returned up to 1.80 m at 36.62 g/t Au, including one m at 40.57 g/t Au at a depth of 337.10 m also in hole CAX-18-001. Hole CAX-18-003 intersected both zones with lower-order intercepts. Drilling to date has shown the zone to extend for 300 m.
Near West target (Orenada West)
A new gold zone at Near West has been discovered over 200 m northwest of the western zone 4 extension. The Near West target is considered to be the extensions of the mineralization and host tuff unit intersected at Orenada, currently the focus of a resource estimate update. A total of 19 holes for 6,191 m were completed at Near West over the winter of 2018 with the first five reported in this release.
This new zone is associated with shearing intersecting quartz porphyry intrusive rocks, strongly silica and sericite altered, with fine disseminated pyrite hosted in a tuff unit. Mineralization is associated with quartz-tourmaline veining containing pyrite and arsenopyrite. The five holes reported (OAX-18-241, OAX-17-250, OAX-17-107, OZX-17-243 and OAX-17-235) tested this new zone, which occurs north of the regional Cadillac Break, over a strike length of more than 600 m. Additional results are pending for OAX-17-250.
Drilling along this strike length have returned values of up to 15.90 m at 2.25 g/t Au, including 6.5 m at 3.70 g/t Au from hole OAX-18-241 at 159.00 m depth, and four m at 3.18 g/t Au at a depth of 219 m in hole OAX-18-250. Drill holes OAX-17-107, OAX-17-243 and OAX-17-235 were drilled during 2017 on the same shear zone and returned up to 3.90 m at 2.30 g/t Au at a depth of 91.40 m in hole OAX-17-235.
Airport target (Far West)
One drill hole is reported from new drill testing along the Cadillac break on the Airport target, located 2.5 km west of Orenada from a total of eight completed holes for 2,533 m. Drill hole (AAX-18-050) returned up to one m at 3.93 g/t Au from a depth of 321.0 m. A second hole AAX-18-051 contained visible gold for which assays are pending.
Next steps
The company’s technical team is working with an independent qualified person to update the National Instrument (NI) 43-101 compliant resource estimate for the Orenada Zone 4 and Zone 2 gold deposits. This updated estimate is progressing and is expected to be completed before mid-May 2018. The new resource update will explore both the new interpretation involving multiple flat lying higher-grade mineralized structures as well as potentially a bulk mining scenario. Additional time has been required to complete the new geological model which will include more geological constraints. The new resource will be more robust than the previous resource estimate and potentially may contain more depth constraints in the estimation.
Exploration drilling; winter drilling — 2018
The eight drill holes were drilled outside of the area currently forming the basis for a resource estimate for Orenada Zone 2 and Zone 4. The drill holes at Near West were designed to test for extensions of the Orenada system and at Centremaque and Airport (Far West) for new zones of mineralization.
SELECTED SIGNIFICANT ASSAY RESULTS --
WINTER 2018 DRILLING
Drill hole From To Length Au Target
# (m) (m) (m) (g/t)
u 284.00 286.50 2.50 5.18 Centremaque
includes 285.85 286.50 0.65 14.50 Centremaque
CAX-18-001 337.10 228.90 1.80 36.62 Centremaque
CAX-18-003 338.50 390.00 1.50 1.11 Centremaque
OAX-18-241 159.00 174.90 15.90 2.25 Near West
includes 159.00 167.00 8.00 3.10 Near West
includes 159.00 165.50 6.50 3.70 Near West
OAX-18-241 171.00 174.90 3.90 2.64 Near West
OAX-18-241 192.00 198.50 6.50 1.67 Near West
includes 193.50 197.50 4.00 2.27 Near West
OAX-18-250 213.00 223.00 10.00 1.73 Near West
includes 219.00 223.00 4.00 3.18 Near West
includes 220.00 222.00 2.00 4.57 Near West
OAX-17-107 107.50 113.70 6.20 1.04 Near West
OAX-17-107 181.00 188.00 7.00 1.59 Near West
OAX-17-107 219.00 251.50 32.50 0.68 Near West
includes 220.50 226.50 6.00 1.59 Near West
and 247.00 251.50 4.50 1.58 Near West
OAX-17-235 91.40 95.30 3.90 2.30 Near West
OAX-17-235 110.95 116.05 5.10 0.74 Near West
OAX-17-235 124.50 126.50 2.00 0.95 Near West
OAX-17-235 177.00 180.00 3.00 1.16 Near West
OAX-18-243 29.00 33.00 4.00 0.70 Near West
OAX-18-243 113.00 114.50 1.50 1.26 Near West
OAX-18-243 126.50 127.80 1.30 1.91 Near West
AAX-18-050 242.00 243.00 1.00 1.25 Airport
AAX-18-050 321.00 322.00 1.00 3.93 Airport
Analytical procedures and quality assurance/quality control
Program design, management, and quality control/quality assurance (QA/QC) are conducted by Alexandria’s exploration group under the supervision of Philippe Berthelot (PGeo), who is the company’s qualified person. Mr. Berthelot has reviewed and approved the contents of this press release.
Drill core sampling protocol is conducted according to industry standards, and has been reviewed by the company’s independent qualified person. Half-core samples are shipped to AGAT, Bureau Veritas Minerals, or SGS Canada laboratories for assaying. For visibly mineralized core, the entire core sample is crushed to 75 per cent passing negative two millimetres (10 mesh); a split of one kilogram of crushed material is then pulverized to more than 85 per cent passing 75 microns (200 mesh). Two pulp samples, 50 grams each, are analyzed by fire assay with an atomic absorption spectrometry (AAS) finish. Samples assaying greater than 10.0 g/t Au are reanalyzed with a gravimetric finish on two 50 g charges for each sample.
For core samples located between mineralized intersections, the core is crushed to 75 per cent passing negative two mm (10 mesh). A 250 g split of this material is pulverized with 85 per cent passing 75 microns (200 mesh); one pulp sample (50 g) is analyzed by fire assay with an atomic absorption spectrometry finish.
Commercial certified standard materials and blanks are systematically inserted by Alexandria’s geologists into the sample chain after every 17 core samples as part of the QA/QC program. Duplicate samples are systematically analyzed by the laboratories after every 17 core samples. Third party assays are submitted to other designated laboratories for 5 per cent of all samples.
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 in Manitoba. 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.
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