TORONTO, Jan. 20, 2012 /CNW/ - Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) has recently completed a regional airborne magnetic survey over the entire 38 km long Cadillac Break Property group in Val d'Or, Quebec, that has provided a more detailed view and better understanding of the underlying geology as it pertains to the potential for metals deposits on the property. The data and imagery received from this extensive study will aid in the interpretation of geology and delineation of mineral targets.
The data help characterize the following:
- Significant geological faults related to shear-zone hosted gold mineralization, one of the most important styles of gold deposits in the Abitibi Belt.
- Recognition of significant granitic intrusions, also very important in the formation of gold and base metal deposits in the Abitibi Belt.
- Magnetic anomalies which may indicate the potential for synvolcanic base metal mineralization and targets.
Eric Owens, Alexandria's President and CEO, said, "The geophysical work has bolstered and extended the insights we have gained through drilling. The findings demonstrate the great prospectivity of our projects and suggest that the geological and geophysical hallmarks of the great Abitibi deposits of the past continue to be present and offer guidance for future discovery. These new findings will be of great value to in refining our drill targets."
The image below is a total magnetic intensity map of the Cadillac Break Property Group, showing the location of selected gold and base metal prospects (black squares) and the three most advanced gold projects, Akasaba, Sleepy, and Orenada, and the past-producing Mid-Canada gold mine (all represented by stars).
Notable features which stand out on the image are: 1) a central belt underlying most of Alexandria's claims, of magnetically variable rocks (colored orange, red, and pink on the image) comprised of mafic-felsic Upper Malartic Group volcanic rocks and concordant gabbro and granitic sills; 2) a north belt of lower overall magnetic intensity (mostly blue colored) underlain by the ultramafic-felsic volcanic rocks of the Lower Malartic Group, and 3) a southern belt of metasedimentary rocks of the Pontiac Group, also of lower overall magnetic intensity.
The regional Cadillac Break Fault Zone marks the boundary between the central variable magnetic belt (Upper Malartic Group) and the southern low magnetic belt (Pontiac Group).
Two circular, magnetically-variable features (surrounded by yellow dashed lines) occur in the western half of the property package. Both correspond to intrusive rocks: diorite of the Centre Post Intrusion, to the north of Orenada, and a tonalite intrusion northwest of Akasaba. As can be seen from the preponderance of gold and base metal prospects around these intrusive rocks, they are considered integral to the location of at least some of the gold and base metal mineralization discovered to date.
Mineral Deposit Potential
Alexandria's Cadillac Break Property Group hosts geological environments consistent with gold and base metals deposits found elsewhere in the Abitibi Belt of Quebec and Ontario.
Shear Zone Gold: The Cadillac Break extends the length of Alexandria's property, and is notable for being one of the most prodigious fault zones in the world in its relationship to gold deposits and gold production. Some 100,000,000 ounces of gold have been produced in Quebec and Ontario from mines located along or within the "shadow" of this fault zone, and it essentially defines the gold mining camps of Matachewan and Kirkland Lake, Ontario, and Cadillac, Malartic and Val d'Or, Quebec. On Alexandria's property, Orenada is an example of this type of gold deposit, somewhat unusual in that it is hosted within the Cadillac Break, similar to Agnico-Eagle's Lapa gold deposit, rather than on a subsidiary related shear zone.
Intrusive Related Gold: As can be seen from the image above, there are a numbers of prospects and deposits around the two notable intrusions in the western half of the property package, suggesting a strong correlation between these geological features and metal occurrence. Both Akasaba and Orenada lie within the shadows of these intrusive rocks. In the Abitibi Belt, granitic intrusive rocks of all shapes and sizes are intimately associated with gold deposits and mines: in the Val d'Or area, for example, such rocks host all, or important components of, gold ore at the Lamaque, Siscoe, and Malartic Mines, as well as all mines within the extensive Bourlamaque Batholith to the north of Alexandria's property.
Synvolcanic gold-base metal deposits: the widespread base metal prospects and geochemical signatures indicate the potential for these types of deposits, and the style of mineralization at Akasaba is consistent with such an interpretation, including its polymetallic characteristics (Au-Cu-Zn-Ag), the high concentration of sulfides (up to 30%), the stratiform nature of the mineralized zones, multiple stratigraphic targets, and proximity to felsic flows and volcaniclastic layers.
In short, the Cadillac Break properties are underlain by a variety of geological environments which are known to host potentially large gold and base metal deposits elsewhere in the Abitibi Belt. The recently completed magnetic survey is being reviewed in light of these ideas, and will be an integral and ongoing process in the Company's exploration activities.
In other matters, the Company continues to drill with one rig at Akasaba. However, because the Company is in the latter stages of its National Instrument 43-101 resource study there, it has issued a directive to the assay laboratory to withhold all assays. No assays will be received by Alexandria nor released to the public until after the study is complete, anticipated to occur later this winter. Drill results are pending, however, for 2 holes at Sleepy.
The Company's Board of Directors has also has granted 2,136,000 stock options pursuant to its stock option plan to certain directors, officers, consultants, and employees as part of its incentive program, in part to replace 1,360,000 options expiring at the end of January. The options are exercisable at a price of $0.095 and expire on January 20, 2014.
Alexandria is also pleased to announce that the Company will be exhibiting at the Vancouver Resource Investment Conference on January 22-23, booth 2013, and will also be hosting a booth at the upcoming PDAC show in early March.
Further information can be found on the Company's website at www.azx.ca. All exploration data and information presented here has been reviewed by the company's Qualified Persons, Eric Owens (PGeo) and Peter Legein (PGeo).
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 is currently focused on advancing its Akasaba and Sleepy projects, and has two NI 43-101 compliant gold resources. At Orenada, at a 0.5 g/t cutoff, the Company has delineated a Measured and Indicated resource of 446,000 ounces of gold (10,273,932 t grading 1.35 g/t Au), and an Inferred resource of 302,000 ounces of gold (7,399,644 t grading 1.27 g/t Au). At Sleepy, the Company has delineated an Inferred resource of 150,000 ounces of gold (7,399,644 t grading 3.0 g/t Au). Agnico-Eagle Mines Ltd., with two producing gold mines in the region, owns roughly 10% of the Company.
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.
PDF with caption: "Cadillac Break Property Group". PDF available at: http://stream1.newswire.ca/media/2012/01/20/20120120_C5622_DOC_EN_9064.pdf
For further information:
Andreas Curkovic, Investor Relations
Eric Owens, President/CEO