Business & Finance
Business and Finance
Business and Finance
Tue, September 22, 2009 Alexis Minerals Corporation: Alexis Interprets Three New Gold Zones at Lac Pelletier Mine-Including Intervals of 14.4 g Au/t Ov
TORONTO, ONTARIO--(Marketwire - Sept. 22, 2009) - ALEXIS MINERALS CORPORATION (TSX:AMC) is pleased to announce new assay results from recently completed surface drilling on its Lac Pelletier property in Rouyn-Noranda, Quebec. New analytical results clearly demonstrate that at least three new gold-bearing structures occur to the immediate west of the existing ramp, only 100 to 200 metres from the current mine infrastructure. The zones confirm the potential for additional resource growth at Lac Pelletier through exploration. The new zones are in addition to Zone 3 and Zone 4, which contain all calculated Resources and Reserves. The new zones are within structures oriented at a high angle to both Zone 3 and Zone 4 and where they can be defined and rapidly developed from the current mine infrastructure, or from areas developed as part of the Alexis underground bulk sampling program.
The new gold-bearing intervals are located within a northwest-trending corridor, at least 60 metres wide and bounded by the principal A and B shears. Highlights from the drilling are listed in table 1 and include:
- 14.4 (10.1 cut(1)) g Au/t over 2.4 m (2.3 m true thickness) in drill hole 17475-72;
- 30.0 g Au/t over 1.0 m (0.8 m true thickness) in drill hole 17475-73;
- 24.1 (16.2 cut(1)) g Au/t over 1.5 m (1.4 m true thickness) in drill hole 17475-75.
(cut(1): high-grade analytical results were cut to 30 g Au/t)
The new zones are interpreted to strike to the northeast and dip moderately to the northwest. Initial results from the first two holes of the program were published in August (see news release: August 27, 2009). Results include many intervals grading more than 2 g/t gold, associated with quartz-tourmaline-carbonate-pyrite veins or veinlets.
Table 1: Assay Results from Lac Pelletier Surface Drilling Program, Rouyn-
Noranda Quebec.
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True width
Hole no From (m) To (m) Length (m) (m) Au (g/t)
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54.5 55.5 1.0 0.7 2.6
------------------------------------------------------------
60.7 61.2 0.5 0.4 2.7
------------------------------------------------------------
61.2 63.6 2.4 2.3 14.4 (10.1 cut)
17475-72 ------------------------------------------------------------
Incl. 61.2 61.9 0.7 0.7 44.4
-----------------------------------------------
Incl. 63.0 63.6 0.6 0.6 5.5
------------------------------------------------------------
100.5 103.0 2.5 2.4 3.4
-----------------------------------------------------------------------
17475-72A 15.8 16.6 0.8 0.5 2.9
-----------------------------------------------------------------------
11.0 12.0 1.0 0.8 30.0
------------------------------------------------------------
17475-73 34.8 35.4 0.6 0.6 2.1
------------------------------------------------------------
122.0 123.0 1.0 1.0 2.6
-----------------------------------------------------------------------
17475-74 112.0 113.0 1.0 1.0 5.5
-----------------------------------------------------------------------
33.5 35.0 1.5 1.4 24.1 (16.2 cut)
------------------------------------------------------------
Incl. 33.5 34.2 0.7 0.6 46.9
-----------------------------------------------
Incl. 34.2 35.0 0.8 0.8 4.1
------------------------------------------------------------
17475-75 36.4 36.8 0.4 0.8 4.8
------------------------------------------------------------
105.9 106.8 0.9 0.9 4.5
------------------------------------------------------------
134.0 135.0 1.0 1.0 2.6
------------------------------------------------------------
160.0 162.0 2.0 1.9 3.3
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Alexis continues to advance the underground bulk sampling program at Lac Pelletier. The ramp has been dewatered to the 140 metre level, development is advancing on the 100 metre level and refurbishment of the 50 metre level is in progress. A bulk sample is expected to be taken before the end of 2009 with anticipated production of approximately 9,400 ounces of gold. Progress continues on schedule. Alexis anticipates a positive production decision early in 2010 which is expected to lead to commercial production by mid-2010.
Quality Control:
The technical and scientific content of this press release has been prepared and reviewed by Claude Gobeil and Jean Girard, Qualified Persons as defined under NI 43-101 guidelines. Assay samples are taken from NQ core, sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. A strict QA/QC program is followed on samples from drill core that includes mineralized standards, blank and field duplicate for each batch of samples. Analyses are performed by Techni-Lab of Ste-Germaine Boule, Quebec.
About Alexis Minerals
Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC"). The Company owns one producing gold mine in Val d'Or and the right to earn a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda. Alexis undertakes exploration in the mineral rich Val d'Or (100% ownership of 212 sq. km.) and Rouyn-Noranda Mining Camps (50% ownership of 785 sq.km and in joint venture with Xstrata Copper). Further information about Alexis Minerals can be found at its website: [ www.alexisminerals.com ]
Forward looking information.
This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to, mineralization projections, future production estimates and cost of production projections, projected capital and operating expenditures future exploration plans and techniques, estimates regarding the timing and costs of exploration, mineral prices, and future mining plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions underlying the future-looking information are based upon extensive technical and scientific analysis conducted by the management of the Company, the analysis of external consultants and information obtained by the Company from third parties. Readers should not place undue reliance on forward-looking information. Forward looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
