Alexandria Minerals (AZX-V) has resumed a 15,000-metre drilling program at the Oramaque gold property in Val d’Or, Que., which it started just before Christmas.
Alexandria is testing gold targets in the Hogg zone, a skarn-like style of gold-copper mineralization north of the Cadillac-Larder Lake Break. The property has been drilled by Alexis Minerals (AMC-V, AXSMF-O) in the past.
The Cadillac Break is a major fault zone that extends more than 300 km from Matachewan, Ont., eastward into the Val d’Or mining camp. More than 100 million oz. of gold have been produced from mines located along or near it.
The first hole that Alexandria drilled twinned an Alexis hole that yielded 1.67 grams gold per tonne over 27 metres, including 17 grams gold over 1.7 metres.
The second hole was drilled to the west along strike from the first hole to test the downdip extension of an Alexis drill hole grading 3.04 grams gold per tonne over 16.2 metres, including 7.57 grams gold over 4.5 metres.
Results from Alexandria’s drill holes have yet to be released, but the resumption in drilling gave the junior a boost of 12.5% to 22.5 apiece on trading volume of 55,500.
In late February, the company will also begin drilling at the Bloc Sud West property, where Alexandria has an option to earn 50% from Iamgold (IMG-T, IAG-N). The first six holes will test the geophysical and geochemical anomalies near the Cadillac Break, identified from magnetic and other surveys in 2006.
Alexandria was listed on the TSX Venture Exchange in March 2006. Due to recent agreements with Xstrata (XTA-L, XSRAF-O), Aur Resources (AUR-T, AURRF-O) and Iamgold, Alexandria’s portfolio has grown to 529 from 45 claims along the Cadillac Break near Val d’Or.
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