Alexandria Minerals delineates high-grade targets in Val d’Or

Surface sampling and mapping of its 35-km-long Cadillac Break properties (Akasaba, Oramaque, Sabourin, Trivio, and the newly acquired Valdora), have unearthed new high-grade gold targets, with rock chip or grab samples assaying up to 37.3 grams gold per tonne, Alexandria Minerals (AZX-V) says.

At Akasaba, multiple combined induced polarization and magnetic anomalies have been identified, including an anomaly that is a minimum of 1.5 km long along the mine horizon.

Grab sample results up to 600 metres away from the mine area included 26.90 grams gold per tonne, 54.6 grams silver per tonne and 4.50% copper, as well as 10.45 grams gold, 26.8 grams silver and 2.04% copper.

Positive sampling results at Akasaba give further weight to assays of two gold-bearing zones that were reported previously: A total of 14 samples assayed between 1.38 grams gold per tonne and 12.2 grams gold from the north and south zones, the former, a 640-metre-long geophysical anomaly just north of the Akasaba mine, and the latter, a 950-metre-long geophysical anomaly, 250 metres south.

Alexandria plans to begin a second round of drilling at Akasaba in the middle of October. In the first drill round completed this spring, results included intersects of 4.22 grams gold per tonne over a true width of 8.48 metres, including 24.50 grams gold over 1.03 metres.

On the adjacent Valdora property, where some geological structures trend from Akasaba, six grab samples from quartz veins and altered volcanic rocks assayed over 0.88 gram gold per tonne, including 3.57 grams gold, 1.85% copper, and 26 grams silver per tonne, and 3.31 grams gold, 1.49% copper and 24.2 grams silver.

Five km west on the Oramaque property, five samples assayed over 2.87 grams gold per tonne, including 12.75 grams gold, 25.9 grams gold and 37.3 grams gold, principally in gabbros cut by quartz veins.

“These results show that the value of our land package resides just as much in its totality as in individual projects,” Eric Owens, Alexandria’s president and chief executive, explained in a statement.

“The Cadillac Break is among the world’s most prospective gold trends and demands much more exploration. When combined with the more advanced resource studies underway at Orenada and Sleepy, we have shown that Alexandria’s property package has significant potential beyond currently explored areas.”

The company plans to complete a National Instrument 43-101compliant resource estimate on Orenada in the coming weeks. Orenada, on the Cadillac Break, is about 12 km west of Akasaba. It is the most advanced of the company’s properties and Alexandria plans to release an economic assessment in early October.

Alexandria also plans to finish a resource estimate for the second of its three principal gold projects, Sleepy, about 12 km east of Akasaba.

Alexandria finished 15.8% higher or 1.5¢ per share at 11¢. Over the last year it has traded in a range of 2¢-11¢ and has 71.4 million shares outstanding.