TORONTO, ONTARIO, Oct. 8, 2009 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 10/08/09 -- Alexandria Minerals Corporation (TSX VENTURE: AZX)(FRANKFURT: A9D) reports today on the results of its recent surface mapping and sampling programme on its Matachewan property in Ontario, which includes a grab sample assaying 7.90 g/t Au.
The exploration programme sheds further light on the geological environment in the southeastern part of the property, this portion of which is held jointly with Carmax Explorations Inc. Of the 170 grab samples taken over 8 claims, 4 assayed between 0.89 g/t Au and 7.90 g/t Au, all occurring within syenite or at the contacts between syenite and volcanic rocks. This geology is similar to that at the adjacent Young-Davidson gold project of Northgate Minerals Corporation, which hosts Proven and Probable Reserves of 2.8 million ounces of gold, principally in syenite (see Northgate website).
This area of Alexandria's property is underlain mainly by interleaved syenite and basaltic volcanic rocks and tuffs, with extensive potassic alteration, quartz veining and pyrite. Strong coincident Induced Polarization and magnetic anomalies further characterize the anomalous area. Alexandria previously intersected 3 separate gold-bearing intervals in a drill hole completed in early 2008, between 165.5 m and 191.0 m downhole, assaying 2.25 g/t Au over 6.0 m, 4.14 g/t Au over 1.5 m, and 5.34 g/t Au over 1.5 m (Press Release June 18, 2008).
Eric Owens, President of Alexandria, said, "During the past year we have had encouraging success at several projects, including Matachewan, across the breadth of our large Cadillac Break property portfolio. We now have significant development options and we will analyse all recent results in order to focus on the projects that have the most potential."
Alexandria's Matachewan property is located along the Cadillac-Larder Lake Break, about 3 km east of Northgate's Young Davidson gold project, and about 40 km southwest of Kirkland Lake, Ontario, which has produced some 33 million ounces of gold from mines such as the Wright-Hargreaves, Kirkland Lake and Macassa mines, all near the Cadillac-Larder Lake Break. In total, Alexandria's property extends for 10 km along the "Break" with several geophysical and geological targets, as well as targets generated by past explorers, which the Company will be evaluating for future work.
The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Persons, Mr. Eddy Canova, PGeo and Dr. Eric Owens, PGeo. There is no Current Resource on this property as defined by NI 43-101, and there is no guarantee that an economic gold deposit underlies the properties.
