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Alexandria Minerals Corp.
Summary
| Project: | Orenada | |
|---|---|---|
| Deposit: | Orenada | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 12/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-12-2016: Alexandria Minerals Corp. announces an Exploration/Drilling Update report for its Orenada deposit at the Orenada project. Drilling results incl. 4.70m @ 8.88g/t Au from 61.60m. Toronto, Ontario, December 7, 2016 – Alexandria Minerals Corporatio | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Philippe Berthelot (Internal) | |
| ABSTRACT: | Toronto, Ontario, December 7, 2016 – Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) (“AZX” or the “Company”) is pleased to announce assay results from its six hole, first-pass drill program testing for high grade veins at Orenada Zone 2, which intersected gold-quartz veins with assays up to 8.88 g/t gold over 4.7 meters, including 14.72 g/t gold over 2.0 meters in Diamond Drill Hole OAX-16-076. Eric Owens, President and CEO, said, “These early results at Zone 2 are quite exciting and very encouraging, with a significant potential for improving the resources at Orenada. We believe that these veins will be important for the size and grade of the deposit.” Orenada Zone 2 is a gold-bearing zone lying along the Cadillac Break shear zone (see Figure 1). Previous drilling identified a low grade gold zone 250 meters long, 20 to 100 meters wide, and mostly drilled above 250 meters depth. The zone is open in all directions. Recognition of stacked, south-dipping high grade veins in 2015 at Zone 4 located 750 meters west of Zone 2 (see cross section by clicking on the link: http://bit.ly/2gisunX), however, has resulted in development of a new geologic model at Zone 4, and has led to the drilling at Zone 2 for the same purpose. The current drill holes at Zone 2 have intersected multiple veins which appear to be oriented near-vertical within the larger alteration zone and also appear to correlate with veins in previous holes (see Figure 2 below). This orientation is distinct from that at Zone 4. As this is the first round of drilling conducted with orientation surveys, Company geologists are beginning the process of creating a new geologic model at Zone 2 in order to better understand the role of high grade veins in the deposit. | |
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