Toronto, Ontario, February 22, 2018 – Alexandria Minerals Corporation (TSX-V: AZX; OTCQB: ALXDF; Frankfurt: A9D) (“AZX” or the “Company”) is pleased to announce the assay results from the last seventeen shallow diamond drill holes from its 2017 program at Zone 4 on the Company’s Orenada property in Val D’Or, Quebec. The eight in-fill drill holes and nine step-out drill holes cover more than 1,400 metres of strike length at Zone 4, and have resulted in the new discovery of shallow gold mineralization 900 metres to the west of Zone 4.
Alexandria completed 43,500 m of drilling over the past 14 months in 170 drill holes for the new updated resource estimate, focusing on the stacked vein sets at Zone 4 and nearby Zone 2. The drill program has now successfully enlarged the footprint of gold mineralization to more than 2,400 m in length.
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 well and is expected to be completed before the end of the first week of March 2018.
Four drill rigs had started drilling on the western extensions of the Orenada Project as part of the 2016 exploration program. The drill program is the Near-West area, consisting of follow-up drilling within 1 km of Zone 4, designed to add near-surface resources adjacent to the Zone 4 resource, and, 2) the Far-West, more than 4 km west of Zone 4, where encouraging geophysical anomalies and geological targets, together with reported historic high-grade gold veins, indicate a continuation of Zone 4-style gold mineralization along the Cadillac Break.
Source: Alexandria Minerals Corporation