The drilling campaign by
The new holes cut the mineralized zones at vertical depths of around 340 metres. One of these, hole 1, encountered 18.1 metres of massive sulphide grading 2.69% copper and 0.05% zinc.
Hole 2, drilled from a collar 13 metres away from hole 1, cut a 5-metre interval grading 3.39% copper, 0.12% zinc and 1.6 grams gold per tonne. The location and direction of the hole imply it pierced the zone between 35 and 50 metres from the hole 1 intersection.
The same hole intersected stringers of sulphide mineralization immediately below the massive material, which ran 0.89% copper and 1.32% zinc over 1.6 metres.
The zones appear to crosscut the stratigraphy, unlike typical exhalative massive sulphides. Their shape and size are not yet apparent and they are open above and to depth.
Two other holes intersected wide sulphide mineralization. One was still in progress when Alexis released the results, and the core from both was still being assayed. Hole 4, from the same setup as hole 2 but drilled to intersect the zone about 50 metres farther updip, cut 42.3 metres of sulphide mineralization.
Hole 5, about 290 metres farther south, cut a 51.2-metre section of massive sulphides and magnetite in a separate zone called the “Upper Target.” The target is 200 metres deep and sits on a breccia unit, the Beecham horizon, stratigraphically above the West Ansil mineralization. Two other targets are awaiting drilling north of the West Ansil mineralization.
Down-hole electromagnetic and ground magnetic surveys detected anomalies in the area. Two previous holes did not find the zone.
Ansil, 15 km northwest of the Rouyn town centre, was the most copper-rich of the Noranda deposits. It had a resource of 1.4 million tonnes grading 7.18% copper and 0.8% zinc.
Alexis is earning a half-interest in Noranda’s Rouyn-Noranda area properties by spending $16.5 million over three years. Noranda received 1 million Alexis shares and 500,000 warrants in the deal.
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