AZX.V ALERT

Alexandria Continues to Hit Shallow High Grade Gold at Akasaba with 7.41 g/t Au over 4 m 

Canada NewsWire 




TORONTO, June 17 /CNW/ - Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today that it has intersected 7.41 g/t Au over 4.0 m (True Width 2.81 m), at a vertical depth of 60-70m, in DDH IAX-10-78, including a visible gold-bearing 26.65 g/t over 0.5 m, on its 100% owned Akasaba property in Val d'Or, Quebec. The Company also reports an increased length of intersection in previously reported DDH IAX-10-72, now 1.97 g/t Au over 86.8 m.


The high grade interval in DDH IAX-10-78, occurs within a broad anomalous envelope averaging 0.10 to 0.20 g/t Au range (see Table 1), locally up to 1 g/t, a common characteristic of the Akasaba mineralization. The hole was drilled 250 m east of the Akasaba mine shaft, where the Company has shown success in drilling a number of high grade intersections, including 20.48 g/t Au over 3.30 m (Press Release February 16, 2010) and 4.40 g/t Au over 6.50 m (Press Release May 6, 2010). The hole was situated in the vicinity of old historic drill holes for which the company either has no assay records or report low or sporadic gold assays.


Separately, additional sampling of drill core in DDH IAX-10-72, previously-reported at 2.01 g/t Au over 78.77 m (Press Release May 27, 2010) shows that the wide zone now stands at 1.97 g/t Au over 86.3 m. The company will be moving the drill rig to this area for follow-up holes as soon as possible to test the extent of this zone.


Results for DDH IAX-10-77, the easternmost hole drilled to date, 500 m east of the mine shaft, intersected 1.51 g/t Au over 1.0 m, at about 175 m vertical depth. The hole also intersected a 2.5 m interval of sphalerite-galena veinlets, a unique occurrence at Akasaba which suggests metal zonation along the strike length of the nascent gold zone. The veinlets are hosted in sericitized mafic tuffs, assaying 0.37% Zn.