TORONTO, ONTARIO--(Oct. 5, 2015) - Alexandria Minerals Corporation ($AZX:CA) ($ALXDF) (FRANKFURT:A9D) is pleased to announce that it has filed on SEDAR the technical report on the updated Mineral Resource estimate for its gold-rich Hudvam Volcanic Massive Sulfide copper-gold-silver-zinc deposit in Flin-Flon, Manitoba, in compliance with National Instrument 43-101. The updated resource estimate was originally presented in an Alexandria press release dated August 19, 2015.
Indicated Resources at Hudvam host 930,000 tonnes grading 1.17% copper, 3.62 g/t gold, 1.71% zinc, and 13.23 g/t silver, representing a 10% increase in tonnage and 5% increase in metal content over the previous 2008 resource estimate. Inferred Resources have 612,000 tonnes grading 0.77% copper, 2.89 g/t gold, 1.26% zinc, and 6.55 g/t silver, for an 18% increase in tonnage and 15% increase in metal content over the 2008 resource estimate.
The Hudvam mineralization occurs in 5 principal sulfide zones hosted along multiple subparallel horizons underlying the property. Resources at Hudvam come principally from two near-surface zones (Zone 1 and Zone 3) located about 400 m apart on the same stratigraphic horizon. The majority of the mineralization lies within Zone 1, averaging 10 m true thickness, and extending from surface to approximately 600 meters below surface and 300 meters along strike. Zone 3 extends 200 m along strike, dips vertical and extends to a depth of 110 m.
Summary of the August 19, 2015 Hudvam Resources
|Tonnes||Copper (%)||Gold (g/t)||Zinc (%)||Silver (g/t)||Copper Equivalent (%)||Copper (lbs)||Gold (oz)||Zinc (lbs)||Silver (oz)|
For Notes to Table, see press release August 19, 2015. Slight differences in numbers from previous release are due to rounding.
The report provides guidance on future work, with particular reference to: 1) infill drilling to upgrade resources and provide more reliable continuity of gold mineralization; 2) drilling of existing untested geophysical targets; and 3) further evaluation of the 2 sulfide zones that have been modelled but not included in the resource estimate.
For this estimate, a Copper Equivalent percent ("CuEq %") has been calculated, which incorporates the values and recoveries of the metals (copper, gold, zinc and silver) in the resource. A cutoff of 1.35 % CuEq was determined for the underground resources.
This Press Release has been reviewed and approved by Greg Greenough P.Geo. and Paul Palmer P.Eng., both of Golder, and Qualified Persons for the WIM Mineral Resource update and NI 43-101 Technical Report. Please note that Mineral Resources which are not Mineral Reserves do not have demonstrated eventual economic viability.
Further information about the Company is available on the Company's website, www.azx.ca, or our social media sites listed below:
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with important gold resources on one of the largest properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec, and a significant presence in the Snow Lake-Flin Flon gold-base metal mining district of Manitoba. The Company's properties have potential for large mineral discoveries and, located as they are in established mining districts, have potential for near-term production.
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.
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