TORONTO, ON / ACCESSWIRE / April 9, 2014 /
Alexandria Minerals Corporation (TSX VENTURE:AZX) (Pick Sheets:ALXDF)
(Frankfurt:A9D) is the subject of a Mining MarketWatch Journal Review offering
insight and opportunity afforded investors. AZX.V is focused on exploring,
developing, and monetizing its Cadillac Break group of precious metal properties
which contiguously stretch 35 km along the prolific Cadillac Trend in Quebec.
The Cadillac Trend lies within the Southern Abitibi Greenstone Belt which has
seen over 170 million ounces of Gold production history. AZX.V currently has
global resources totaling 1,426,932 ounces gold (695,524 ounces Measured &
Indicated and 731,408 ounces Inferred) on three 100% owned projects proximal to
infrastructure-rich Val d'Or where 4 gold mills with excess capacity are within
15 km. The Company has ~$5 million in the bank plus a royalty on horizon from a
recent asset sale, it is uniquely positioned along the Cadillac Trend with
quality gold deposits, and has the intention to discover significantly more gold.
The full Mining Journal article may be found at
http://miningmarketwatch.net/azx.htm online.
AZX.V, with 178,108,297 shares outstanding (203,746,234 fully diluted) appears
to present an exceptional risk-reward scenario; trading with a market cap near
$10M. AZX.V is positioned for potential extraordinary share price appreciation
over the coming months and years as the reality of the large inherent value that
the Company possesses is understood by the market and as it executes on its
plan, continues to find new gold, and monetize existing gold assets.
AZX.V's plan is to advance its
existing gold deposits to marketable status for monetization at local
feed-hungry mills, and do what it does best -- discover more new gold; the
Company's confidence level is high as it steps out and test potential
multi-million ounce gold targets in 2014. AZX.V's rapid exploration success
since coming public in 2006 and assembling its strategic Cadillac Break land
package is attributable in large part to the skilled technical leadership of
Eric Owens, PGeo., PhD, Alexandria Minerals' President, CEO, and Co-Founder.
Since 2006, AZX.V has discovered >1.77 million ounces of gold (plus 61,255,885
lbs copper) efficiently at an all-up cost of discovery of ~$14 per ounce of
gold.
AZX.V is responsible for discovering what appears will be Canada's next open pit
Gold mine:
In 2012 AZX.V discovered the West Zone Au-Cu deposit which now appears will
soon be Canada's next open pit Gold mine; AZX.V sold the West Zone deposit
(332,074 oz Gold and 61,255,885 lbs Copper Inferred) earlier this 2014 to Agnico
Eagle (TSX: AEM) for $5 million and 2% NSR. AEM requires feed for its 8,600 TPD
Goldex mill, which it was only operating at 4,000 TPD -- the West Zone deposit
met the requirements to take Goldex up to 100% capacity. AEM is now actively
prepping the West Zone to become Quebec's next Gold mine.
Alexandria Minerals does what few junior miners ever manage to do; explore for
gold and make money at the same time (see related news release dated April 1,
2014 entitled "Alexandria Minerals Reports Net Income of $2,048,414 in 3rd
Quarter"). The sale of West Zone to AEM demonstrates two important future
drivers for the share price of AZX.V to the market; 1) Alexandria Minerals is
capable of monetizing the gold it finds, and 2) AZX.V's gold deposits, all of
which are proximal to mills hungry for feed, have an advantage over gold
deposits that most other juniors are exploring/discovering (absent local
mill/infrastructure), comparatively AZX.V gold deposits are apt to superior
demand/returns as they do not necessarily require large capex of building a
mill. The plan to advance its current gold deposits to monetization-ready status
will facilitate AZX.V achieving its exploration goals non dilutively --
dramatically adding value to shares going forward. Again, important to note is
the efficiency of gold discovery AZX.V is capable of on its Cadillac Trend
ground; the actual recently sold West Zone gold deposit itself was proven up for
discovery with only ~10 drill holes with costs totaling $0.69 per ounce Gold,
the broader 14 claims sold had ~$2.7M in exploration cost. Some now refer to
AZX.V as the 'unofficial exploration arm of Agnico Eagle' in the region, as AEM
is highly supportive of AZX.V's efforts and holds a 9% equity stake in AZX.V,
additionally AEM's success in the region is reliant upon new gold for its mills
-- which AZX.V is highly skilled at finding.
Alexandria highly prospective for major gold discovery as it tackles the whole
western half of its 35 km property package for multi-million ounce deposits:
The Cadillac Trend lies within the Southern Abitibi Greenstone Belt which has
seen over 170 million ounces of Gold production history. AZX.V has affirmed its
understanding of the geology of its Cadillac Trend claims, proven it can find
Gold efficiently, proven it can monetize the gold it finds, and now believes it
is poised to discover multi-million ounces of new gold. For the first several
years AZX.V concentrated its exploration efforts on taking its 3 main known gold
deposits (starting with Orenada, Sleepy, and then Akasaba) to resource. It
focused efforts around the historic past producing mine of Akasaba and
subsequently performed small step outs (such as the recently sold West Zone
adjacent Akasaba). AZX.V's success and understanding surrounding what it has
done stepping out from Akasaba leads the exploration team to believe AZX.V will
encounter success by stepping away and finding more gold in 2014. It has just
started the process of taking the whole western half of its 35 km property
package and trying to find significant gold; the drill program that it just
finished up in January in the north part of Akasaba and in the Valdora property
to the north, was its first significant drill program in that effort. AZX.V
released initial results from the winter program of intercepts in the range of
2.82 g/T to 19.2 g/T. Numerous sub-parallel, east-west trending, gold bearing
zones with similar characteristics as the Akasaba have been identified across
the property and the underlying geology is similar to that found under the
prolific Bousquet-Doyon-LaRonde District where ~26 million ounces gold have been
mined across an ~8km stretch -- AZX.V believes it its claim package has similar
if not greater potential. Geophysical surveys conducted this Q1 2014 will assist
in risk mitigation and have identified significant targets.
Current assets of significance being advanced toward near-term monetization:
1) Akasaba Gold Project -- NI 43-101 resources (Q1 2013): 248,790 oz. gold
Indicated (made up of Indicated open pits = 132,475 oz gold (3,009,214 Tonnes @
1.37 g/T) + Indicated underground = 116,158 oz gold (609,274 Tonnes @ 5.93 g/T))
and 278,600 oz. gold Inferred; (made up of Inferred open pits = 13,653 oz gold
(219,882 Tonnes @ 1.93 g/T) + Inferred underground = 264,886 oz gold (1,475,622
Tonnes @ 5.58 g/T)). The current resource has been delineated around a
past-producing mine, active in early 60’s (it historically produced 40,000 oz.
of Gold at 5.14 g/t). AZX.V has recently conducted 12,277 m of drilling
(completed in 2013 and 2014) on Akasaba. Akasaba possesses substantial
near-surface and in depth growth potential. Akasaba’s main high grade zone is
open at depth, deposit is open along strike to the east. Greenstone belts
typically run deep, there are mines at 8,000 – 10,000+ feet, AZX.V has only
explored to ~600m. Successful mines in the Abitibi area typically have a few
years of production lined up ahead of time and just keep going for decades,
adding as they go.
2) Sleepy Gold Project -- NI 43-101 resources (Q3 2009): 150,400 oz gold
Inferred underground (1,557,000t @ 3.0 g/t Au). The sleepy deposit is a fairly
high-grade disseminated gold pyrite ore body. AZX.V has drill holes down below
the existing resource that intersected much higher grades and wider than the
resource intercepts; e.g. 6.8 g/T over 16 m (true width), 11.29 g/T over 3 m.
AZX.V has blue-sky potential to increase mineralization at Sleepy along strike
and at depth. There is a 4,000 m drill program underway and AZX.V is aiming to
provide an updated resource later in 2014 -- Mining MarketWatch Journal
guesstimates 400K - 500K oz gold at a fairly high grade will be revealed in the
revised resource and this will provide a catalyst for upside share price
movement as Sleepy will be marketable for monetization at that point. There
should be high interest in Sleepy as we expect it to be viewed as a fairly good
size and quality deposit, located in amongst several Val d'Or mills looking for
feed.
3) Oreanda Gold Project -- NI 43-101 resources (Q4 2009): 446,891 oz gold
Measured & Indicated (~10.2M Tonnes @ 1.35 g/T Au), and 302,469 oz gold Inferred
(~7.4M Tonnes @ 1.27 g/T). Oreanda is a surface bulk-tonnage deposit with 24-36
month production potential with outsourced milling. The deposit also has
underground potential. It lies within 15 km of 4 mills operating below capacity.
The deposit is open along strike and at depth. In the early 1990's Aur Resources
completed a bulk sample that produced ~4,000 ounces of gold (72,195 tonnes
grading 1.72 g/t Au). In short, Oreanda is ripe for monetization near-term.
The full Mining Journal article may be found at http://miningmarketwatch.net/azx.htm online.
This release may contain forward-looking statements regarding future events that
involve risk and uncertainties. Readers are cautioned that these forward-looking
statements are only predictions and may differ materially from actual events or
results. Articles, excerpts, commentary and reviews herein are for information
purposes and are not solicitations to buy or sell any of the securities
mentioned. Readers are referred to the terms of use, disclaimer and disclosure
located at the above referenced URL(s).
Contact information:
James O'Rourke, Editor
Mining MarketWatch Journal
[email protected]
SOURCE: Alexandria Minerals Corporation