Alexandria In-fill Drilling Intersects 7.44 g/t Au over 8.50 m at Akasaba

TORONTO, April 12 /CNW/ - Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today on results from 5 drill holes on its shallow in-fill drill programme at its Akasaba gold project in Val d'Or Quebec, where it has intersected 7.44 g/t Au over 8.50 m (True Width, 6.01 m), including 20.41 g/t Au over 3.00 m (True Width, 2.12 m).

The intersection in Diamond drill hole IAX-11-132 occurred from 64.40 m to 72.90 m downhole, around 50 m vertical depth, and 150 m east of the past-producing Akasaba gold-silver mine, in the vicinity of the high grade zone discovered by Alexandria geologists in 2010.

Eric Owens, President and CEO of Alexandria Minerals, said, "These results continue to progress our successful drill program at Akasaba. The broader widths we are encountering are particlarly encouraging as we further refine and enlarge the zone while we continue to search for the main zone."

Drill holes IAX-11-131 and 134, like hole 132, are also located in the area of the eastern high grade zone, and have aided in further defining the high grade zone. Hole 131, located 50 m west of Hole 132, intersected 23.90 g/t Au over 0.30 m, and hole 134, 100 m east of 132, intersected  7.26 g/t Au over 2.35 m, including 48.15 g/t Au over 0.30 m.

Table 1. Selected Assay Results at Akasaba.

Hole# From (m) To(m) Length (m) Est'd True
Width (m)
Au g/t
IAX-11-131 38.00 40.00 2.00 1.41 0.72
IAX-11-131 58.20 58.50 0.30 0.21 23.90
IAX-11-132 55.00 59.15 4.15 2.93 0.73
IAX-11-132 64.40 72.90 8.50 6.01 7.74
incl. 67.10 70.10 3.00 2.12 20.41
IAX-11-134 148.05 150.40 2.35 1.66 7.26
incl. 150.10 150.40 0.30 0.21 48.15
IAX-11-134 172.45 177.05 4.60 3.25 1.80
IAX-11-134 185.35 186.85 1.50 1.06 6.98
IAX-11-136 18.00 33.00 15.00 10.61 1.57
incl. 20.50 24.45 3.95 2.79 3.49
incl. 21.50 22.45 0.95 0.67 8.29
IAX-11-138 7.00 23.95 16.95 10.11 1.98
incl. 11.05 19.50 8.45 4.85 3.39
incl. 11.05 12.00 0.95 0.54 8.42
incl. 16.60 17.60 1.00 0.57 9.82

Close to the Akasaba mine, drill hole IAX-11-136, which ended in mineralization, hit the target zone just above the underground workings, intersecting 1.57 g/t Au over 15.00 m, including 3.49 g/t Au over 3.95 m, above 20 m vertical depth. Hole IAX-11-138, also drilled just above the historic stope, 100 m east of hole 136, intersected 1.98 g/t Au over 16.95 m, including 3.39 g/t Au over 8.45 m.

Alexandria is in the middle of a two-rig, 20,000 meter drill programme, principally focused at Akasaba, aiming to better define gold-silver mineralization and enlarge the gold-bearing zone. The shallow level targets recently tested are designed to aid in the determination of gold potential in the upper 150 to 200 m in the main Mine Horizon, within which Alexandria has delineated strong gold mineralization over 1,000 m of strike length, still open along strike and at depth. Future drilling will broaden the exploration targeting to also include step out drilling and the testing of new targets along strike.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Persons, Jared Beebe, PGeo, and Dr. Eric Owens, PGeo. There is no Current Resource underlying the Akasaba property as defined by National Instrument 43-101, and no guarantee that an economic gold deposit is present.

About Alexandria Minerals Corporation

Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest property packages along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. The Company has two NI 43-101 compliant gold resources, at Orenada and Sleepy, and is currently focused on advancing its Akasaba gold-silver project.  Roughly 10% of the Company is held by Agnico-Eagle Mines Ltd., who has three producing gold mines in the region.

WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


SOURCE Alexandria Minerals Corp.

For further information:

Andreas Curkovic, Investor Relations
(416) 577-9927

Mary Vorvis, Corporate Development

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Alexandria Minerals Corp.

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