Alexandria Minerals Corp. (AZX:CA)

Alexandria Minerals Corporation is a Canadian gold exploration company focused on exploring and developing one of the largest properties in the prolific Val d'Or, Quebec, gold mining district.
Corporate Highlights

• Global Gold Resources: M&I: 435,000 and Inferred: 429,000 (Resource Tables)
• Strategic Partnerships: Agnico-Eagles Mines 10% Owners; Teck and IAMGOLD Corp, 7%
• Infrastructure-rich: 4 Mills with in 15 km of Alexandria's Properties (16,000tpd capacity
• Drilling Milestones: Akasba - 26,000 m drilled to date, additional 30,000 m drill programmme underway; Sleepy - 7,100m drilled, additional 2,800 m underway.
• Pipeline of Properties: 35km long, contiguous property package with 3 advanced exploration and development projects, and many more exploration targets on the Cadillac Break in the metal-rich Abitibi Belt
• Cash/Short Term Assets: $6.0 million available

Projects

Cadillac Break Properties - Overview

Overview

The Cadillac Break Property Group comprises 20 properties stretching for 35 km along the Cadillac Break, a regional fault zone that has produced some 100,000,000 ounces of gold since the early 1900's. Alexandria's initial 14 properties in this group came from two property agreements in late 2006 from Aur Resources Corp. (Teck Cominco) and Cambior Inc. (IAMGOLD Corp.). The Company staked or acquired the remaining properties subsequent to the initial purchase. Alexandria holds 100% interest in all 20 properties, subject to a 2% NSR, which lie in Bourlamaque, Louvicourt and Vauquelin Townships.

Geology

Geologically, the dominant feature underlying the properties is the Cadillac Break, a regional fault zone that separates metasedimentary rocks of the Pontiac Group on the south side from predominantly volcanic rocks and associated intrusive rocks on the north. However, this large property package hosts a variety of geological environments favourable to gold mineralization, including those which are known elsewhere to host large gold deposits, including: 1) shear-zone, 2) gold-rich massive sulphide, 3) felsic intrusive and skarn, and 3) disseminated gold.
The property group hosts four historic gold deposits: Orenada, Mid-Canada, Akasaba, and Sleepy. Two of them, Mid-Canada and Akasaba, are former producing mines, the latter having produced 40,000 ounces of gold at a grade of 5.14 g/t of gold in the early 1960's. Orenada has had underground development in the form of a 300 m shaft and two horizontal exploration drifts.

Exploration

The properties have been explored by various operators since the early 1930s, with over 2,400 drill holes completed since that time. Other work includes multi-property geophysical and geochemical programs, and trenching and mapping, all of which Alexandria has been compiling into a single database. It is worth noting that recent blind discoveries in the region (as at Lapa and Goldex), at depths between 500 m and 1,500 m, show that the Cadillac Break Group of properties is highly underexplored, as most drilling has been in the upper 150 m over the whole package, only locally testing down to 300 m depth.
For an interactive map of our Quebec properties please click here

Cadillac Break Properties - Akasaba

Summary

Size: 23 mining claims and 1 mining concession, 487 hectares
Location: Louvicourt Township
Prospects: Copper, Gold, Silver, Zinc
Past Production: 40,000 oz. Au and 13,000 oz. Ag (262,568t at 5.14 g/t Au and 1.97 g/t Ag)
NI 43-101 Resource: None
Acquired: May 2007, from CAMBIOR

Overview

The Akasaba Property lies in the center of Cadillac Break group of properties and hosts the historic Akasaba Gold Mine that produced 262,500 tonnes grading 5.14 g/t gold and 1.7 g/t Ag. Gold mineralization at the Akasaba Mine is hosted in semi-massive to stringer sulphides (pyrrhotite, pyrite,and chalcopyrite) in volcanic rocks of the Southern Malartic Group.
Alexandria's exploration programme has identified a gold-rich Mine Horizon, with high grade intersections up to 121.00 g/t Au over 0.70 m as well as wide, near surface intersections such as 1.19 g/t Au over 63.30 m. Ore grade gold assays have been encountered for more than 1 km along strike and to 400 metres vertical depth, and the zone remains open in these directions. The Company's primary exploration focus for 2011 will be to expand, and better define, gold mineralization at Akasaba with the intent of building a substantial gold deposit, leading to an NI 43-101 resource estimate.
Drill Results 2009, Drill Results 2010, Drill Results 2011

Geology

The Akasaba property straddles the Cadillac Tectonic Zone (CTZ) and is underlain by the Val d'Or Formation, Heva Formation, Cadillac, Piche and Pontiac Groups. The main Mine Horizon lies approximately 600 m north of the CTZ and consists of basalt to andesite volcaniclastic rocks and flows intruded by gabbro and diorite sills, and is bound on the south by massive dacite.
Gold mineralization occurs in all rock types, but mainly in three principal parallel lenses, or veins, denoted A, B, and C, and numerous smaller ones. Sulfides, principally pyrrhotite, with lesser pyrite and chalcopyrite, comprise between 5-50% of the gold-bearing zones, typically as semi-massive to stringer sulphides. Associated alteration minerals are quartz, carbonate, chlorite, biotite and epidote. A strong epidote-hornblende-actinote-magnetite type alteration is present at Akasaba and is easily identified in outcrops around the historic mine area.
Akasaba hosts polymetallic mineralization, with widespread silver (up to 50 g/t) and copper (generally 0.2-0.4%, locally up to 1-2%), and local high grade zinc (up to 6.35% Zn over 0.3 m in a massive sphalerite-pyrrhotite layer). Taken together with the host volcanic environment and the multiple stratigraphic targets, Akasaba geology is consistent with either a contact metasomatic origin or a gold-rich VMS origin, the latter similar to Agnico Eagle's La Ronde Mine (Proven and Probable resources of 34,380,000 tonnes grading 4.39 g/t Au, 28.3 g/t Ag, 0.28% cu and 1.16 % Zn).
Click here for more information

Cadillac Break Properties - Sleepy

Summary

Size: 8 mining claims, 312 hectares
Location: Louvicourt Township
Prospects: Copper, Gold, Silver, Zinc
NI 43-101 Resource: Inferred 150,000 oz. Au (Full Report)
Acquired: May 2007, CAMBIOR

Overview

The Sleepy property is located on the eastern end of the Cadillac Break Property package, approximately 25 km east of Orenada, and hosts a disseminated pyrite-gold zone in the Vicour Gabbro Sill. The Company began exploration drilling in 2007 and completed a NI 43-101 Compliant Resource in the Fall of 2009. This initial resource estimate outlined a near surface inferred resource of 150,400 oz. Au (1,500,000 tonnes grading 3.0 g/t Au ). Recent exploration drilling in January 2011 has expanded gold mineralization at depth. Alexandria plans to continue exploration drilling on the property with the intent of defining a sizeable gold deposit.

Geology

The Sleepy property is located north of the Cadillac Tectonic Zone (CTZ) and is underlain by the volcanic rocks of the Malartic Group. Local geology consists of intermediate to felsic agglomerates, tuffs and flows, and a sequence of intermediate spherulitic flows, intruded by dioritic to gabbroic sills. The largest of these gabbro sills, the Vicour Sill, 100-350 m in width, is the host for gold mineralization on the property..
The Sleepy Gold Zone is a disseminated gold-pyrite mineral deposit hosted in a distinctive blue quartz tonalite layer within the differentiated Vicour Sill. This tonalite layer is laterally extensive, having been intersected at various places over much of the length of the Vicour Sill, most notably at the Sigma II gold deposit located 4.5 km to the northwest within the same Vicour Sill. The Sigma II mine produced 1.8 Mt of ore grading 1.7 g/t Au from an open pit, and has a current reserve of 1.2 Mt grading 2.8 g/t Au.
Gold mineralization in the Sleepy Zone is associated with 2% to 10% pyrite as disseminated grains and veinlets, minor chalcopyrite and local sphaerite. Principal alteration mineralogy consists of albite, blue quartz grains ("eyes") and quartz veinlets, and chlorite. Assay intervals of holes drilled to-date reveal a relatively uniform distribution of gold within the Sleepy Zone: in hole SAX-11-01, completed in January 2011, for instance, the average grade of the zone was reported as 3.81 g/t over 9.0 m, where all values ranged between 2 g/t and 8 g/t Au.
Click here for more information