Alexandria Files WIM Technical Report on SEDAR
TORONTO, ONTARIO--(Marketwired - Jul 2, 2015) - Alexandria Minerals Corp. (TSX VENTURE:AZX)(OTC PINK:ALXDF)(FRANKFURT:A9D) is pleased to announce that it has filed on SEDAR the technical report on the updated Mineral Resource estimate at its WIM property in Snow Lake, Manitoba, in compliance with National Instrument 43-101. The updated resource estimate was presented in an Alexandria press release dated May 20, 2015.
As previously released, the estimate resulted in a significant increase in resources by updating it with current metals prices. Indicated Resources show a 40% increase in tonnage and 22% increase in metal content over the last estimate in 2008, now totaling 3.90 million tonnes grading 1.71 % copper, 1.57 g/t gold, 6.81 g/t silver, and 0.26% zinc.
Likewise, Inferred Resources increased 64% in tonnage and 44% in metal content, now standing at 0.732 million tonnes grading 1.03 % copper, 1.76 g/t gold, 4.65 g/t silver, and 0.37% zinc.
| Summary of the May 20, 2015 WIM Resources | ||||||||||
| Grade | Total Metal Content | |||||||||
| Cut-Off (CuEq %) | Tonnes | Copper (%) | Gold (g/t) | Zinc (%) | Silver (g/t) | Copper (lbs) | Gold (oz) | Zinc (lbs) | Silver (oz) | |
| 0.6 | Pit Constrained | 275,000 | 1.08 | 1.25 | 0.1 | 6.81 | 6,568,000 | 11,000 | 584,000 | 60,000 |
| 1.3 | Underground | 3,623,000 | 1.76 | 1.59 | 0.28 | 6.67 | 140,588,000 | 186,000 | 22,146,000 | 777,000 |
| Total Indicated | 3,898,000 | 1.71 | 1.57 | 0.26 | 6.68 | 147,156,000 | 197,000 | 22,730,000 | 837,000 | |
| 0.6 | Pit Constrained | 63,000 | 0.95 | 1.05 | 0.09 | 6.4 | 1,330,000 | 2,000 | 126,000 | 13,000 |
| 1.3 | Underground (East) | 604,000 | 1.12 | 1.69 | 0.44 | 4.7 | 14,912,000 | 33,000 | 5,803,000 | 91,000 |
| Underground (West) | 64,000 | 0.26 | 3.03 | 0.01 | 2.5 | 374,000 | 6,000 | 12,000 | 5,000 | |
| Total Inferred | 732,000 | 1.03 | 1.76 | 0.37 | 4.65 | 16,616,000 | 41,000 | 5,941,000 | 109,000 | |
For Notes to Table, see press release May 20, 2015.
The report provides guidance on future work, with particular reference to: 1) drilling down dip and along strike in order to increase the size of the deposit; 2) more detailed drilling in the gold-rich zone in order to better understand this portion of the deposit; and 3) completion of metallurgical work to better understand the accessibility of the ore minerals.
The WIM deposit is a volcanogenic massive sulfide deposit averaging 7.0 m true thickness, and extends from surface to approximately 700 meters below surface and 600 meters along strike. It was discovered by Hudson Bay Exploration and Development Corporation by drilling a ground EM geophysical anomaly in 1962. Murgor Resources Inc. produced the first NI 43-101 Mineral Resource Estimate in 2008. Alexandria now holds 100% of the property as a result of acquiring Murgor Resources in March 2015.
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 (see below). From this cutoff of 1.3 % CuEq and 0.6% CuEq were determined for the underground and pit constrained resources, respectively.
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:
| Facebook: https://www.facebook.com/pages/Alexandria-Minerals-Corporation-AZXTSXV/186115074772628 |
| Twitter: https://twitter.com/azxmineralscorp |
| YouTube: http://www.youtube.com/AlexandriaMinerals |
| Flickr: http://www.flickr.com/alexandriaminerals/ |
About Alexandria Minerals Corporation
Alexandria Minerals Corp. 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 Corp. 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.
Contact
Alexandria Minerals Corp.
Mary Vorvis
Vice President, Corporate Development and Investor Relations
(416) 305-4999
Alexandria Minerals Corp.
Eric Owens
President/CEO
(416) 363-9372
info@azx.ca
www.azx.ca