Alexandria drills 17.5 m of 8.56 g/t Au at Orenada

Oct 26, 2017

2017-10-26 07:18 ET – News Release

Mr. Eric Owens reports

ALEXANDRIA MINERALS CORPORATION DRILLS 8.56 G/T GOLD OVER 17.50 M AT 24.8 METRES DEPTH; CONTINUES TO EXPAND SHALLOW GOLD MINERALIZATION AT ORENADA ZONE 4

Alexandria Minerals Corp. has released assay results from 10 holes completed in its detailed summer drill program at Orenada zone 4 near Val d’Or, Que. The reported results further confirm robust gold mineralization east of the zone 4 open pit over a 250-metre strike length. These results, once again, expand high-grade gold mineralization east beyond the limits of the 2009 resource estimate.

Highlights:

Diamond drill hole OAX-17-168, located 330 metres east of the open pit, intersected two major high-grade zones: 8.56 grams per tonne gold over 17.50 m from 24.80 m to 43.20 m downhole (including 31.2 g/t gold over 3.2 m, which includes 80.70 g/t gold over 1.00 m) and a second intersection of 4.28 g/t gold over 35.70 m between 223.30 m and 259.00 m (including 7.10 g/t gold over 16.20 m), expanding high-grade veins well beyond the former 2009 resource limits.
Together with OAX-17-170, also located on the same section, which intersected 1.65 g/t gold over 95.00 m, the results show the potential growth of the gold deposit at zone 4.
Hole OAX-17-156, located roughly 250 m west of DDH OAX-17-168, but still east of the open pit, intersected 2.65 g/t gold over 47.15 m between 189.20 m and 236.35 m, part of a broader intersection grading 1.65 g/t gold over 131.50 m, infill results that confirm a robust core below and east of the open pit.
Infill hole OAX-17-160 intersected 3.35 g/t gold over 11.00 m, and 1.52 g/t gold over 33.45 m part of a larger zone grading 0.98 g/t gold over 127.5 m.
OAX-17-162 intersected 42.50 m grading 1.06 g/t gold. These holes, located 60 m west of OAX-17-168, provide confirmation of continuity of gold mineralization.

Eric Owens, president and chief executive officer of Alexandria, stated: “These exciting results emphasize potential for both growth and grade at zone 4. We are finding a very robust core area that extends 1,100 metres along strike, down to 300 metres at depth and continues to be open in all directions. Our ongoing geologic and resource modelling efforts are being confirmed and strengthened as results come in. With assay results pending for 70 holes, we expect further great results for the rest of the year.”

Current resources compliant with National Instrument 43-101 at Orenada were originally estimated in 2009 for the upper 250 metres, at zone 4 and zone 2 (see press release dated Sept. 16, 2009). Alexandria’s 45,000-metre drill program in 2017 has intersected the gold vein system for more than 2.5 km along strike, centred around the zone 4 open pit, an increase in strike length of more than 300 per cent over the previously known dimensions. A new resource estimate is expected by January, 2018.

Gold mineralization remains open along strike — to the east and west — as well as at depth. New drill targets are being evaluated in these directions in anticipation of an active next phase drill program.

Next steps

Focus continues to be on wrapping up the processing of the remaining core from 70 drill holes from the summer program, and continuing geologic and resource modelling, with the aim of incorporating this information into a new resource estimate by January, 2018.

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. Details of sampling procedure can be found in the addendum. Mr. Berthelot has reviewed the contents of this press release.

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/