Feb 9 2017
Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(OTC PINK:ALXDF) ("AZX" or the "Company") is pleased to announce that a second drill rig has launched an initial 4,500 meter drill program on its Triangle Too project. This is a part of a larger 12,500 meter wintertime drill program focused on the western Cadillac Break Properties, Val d'Or, Quebec.
The Triangle Too drill program is a follow-up to the smaller, first-pass drill program completed last fall. Alexandria, in 6 out 7 holes drilled, successfully located important geological rocks. These host high grade gold veins in the region: diorite plugs, shear zones and gold-quartz veins.
Eric Owens, President and CEO of Alexandria, emphatically stated, "We have strong targets for this portion of a program that will ultimately total 7,500 meters. This is an extensive property-wide drill program which we expect will generate follow-up drilling on additional targets as results come in. This undertaking is an extension of our nearby Orenada Zone 4 program, and fits with our goals of resource growth."
The Triangle Too drilling activities are located 1-2 kilometers northwest of Zone 4, where Alexandria recently announced intersecting 21.32 g/t gold over 3.95 meters in one of multiple high-grade gold-quartz veins (see Press Release, February 1, 2017).
The second drill rig will test several targets on the Triangle Too program. To date, Alexandria geologists have prioritized a first set of 25 targets. These targets are based on geophysical anomalies in conjunction with geologic information gleaned from scattered historic (pre-Alexandria) drill holes.
Drill targets will include relatively shallow drill tests of geophysical anomalies, less than 350 meters in depth. These will also include deeper drill holes on gold-quartz vein-bearing diorite plugs, first identified in last fall's drill program, at a depth below 450 meters.
The property is located in prime geologic ground: to the west of the East Sullivan Pluton, south of the Bourlamaque Batholith, and north of the Cadillac Break, and therefore with excellent underlying fundamentals. Notable gold and base metal prospects occur nearby, including Mid-Canada (77,778 t grading 7.44 g/t gold and 0.21% copper), Zone 1 (845,000 t grading 4.9 g/t gold), and the East Sullivan Mine (16.5 Mt grading 1.0% copper, 0.33 g/t gold, 10.46 g/t silver and 0.69% zinc).
In other matters, drilling continues with the fifth hole of the season on Zone 4. This hole is located 1-2 km southeast and is testing the stacked high-grade veins in this vicinity.