AMC nice discovery right here in Canada
Alexis Minerals Corp (C-AMC) - News Release
Alexis Minerals intersects 3.57% Cu over 52.70 metres
2005-03-31 05:52 ET - News Release
Shares issued 40,706,386
AMC Close 2005-03-30 C$ 0.44
Mr. David Rigg reports
ALEXIS MINERALS: SECOND HOLE AT WEST ANSIL INTERSECTS 3.57 % COPPER OVER 52.70 METRES AND 5.30% COPPER OVER 10.80 METRES
Alexis Minerals Corp., in joint venture with Noranda Inc. (TSX: NRD), has released the results from a second drill hole completed in the area of the previously announced West Ansil discovery hole (see news issued in Stockwatch on March 4, 2005), in the Central Rouyn-Noranda mining camp, Quebec. The new West Ansil zone is located 1.8 kilometres to the southwest of the historic Ansil mine.
Hole AN-05-04 (in progress) intersected two significant intervals of massive sulphide mineralization. The two high-grade intersections in AN-05-04 are separated by a 9.05-metre thick diorite dike.
The first massive sulphide intersection has returned:
3.57 per cent copper, 0.25 per cent zinc, 7.72 grams per tonne silver and 0.52 gram per tonne gold over 52.70 metres from 317.45 to 370.15 metres; and
including, 5.18 per cent copper, 0.22 per cent zinc, 10.07 grams per tonne silver and 0.74 gram per tonne gold over 31.95 metres from 338.2 to 370.15 metres.
The second massive sulphide intersection has returned:
5.3 per cent copper, 0.07 per cent zinc, 9.16 grams per tonne silver and 2.32 grams per tonne gold over 10.80 metres from 379.20 to 390.00 metres.
Mineralization is situated 100 metres to the southeast and 150 metres vertically above the discovery intersection of 1.28 per cent copper over 26.75 metres in hole AN-05-03.
David M. Rigg, president and chief executive officer, stated: "This substantial new intersection further advances the significance of the previously announced discovery. Results from hole AN-05-04 support the high net smelter return potential which characterizes the historic deposits in the immediate area. The discovery comes after little more than four months of exploration in the heart of the Rouyn-Noranda mining camp. It confirms that the joint venture approach, 3-D Gocad modelling within an extensive historical database and an aggressive exploration drilling approach, is producing discoveries."
Borehole geophysics has identified four, subvertically stacked conductors. The lower-most conductor at a vertical depth of approximately 500 metres represents the massive sulphides in the original discovery zone (AN-05-03). Hole AN-05-04 confirms massive sulphides responsible for two central conductors above this. Hole AN-05-05, 50 metres farther south of AN-05-04, is targeting the upper-most BHEM anomaly at a vertical depth of approximately 200 metres. Hole AN-05-05 has intersected strong alteration and minor stringer mineralization (assays pending) at the target depth, however, the upper anomaly remains unexplained. Additional borehole geophysical surveys will be undertaken upon completion of the drilling and results will be applied to retarget exploration in the area.
The style and setting of the mineralization appears typical of other volcanogenic massive sulphide (VMS) deposits in the camp. The latest drilling may suggest the presence of a stacked mineralized system, however, does not provide sufficient information to characterize the environment and dimensions of the mineralization. There is also a possibility that these zones were originally a single zone now offset by late diorite dikes. True widths of the mineralization cannot be estimated without additional drilling, geochemistry of surrounding intensely altered rock types and modelling of the area.
TABLE 1
SIGNIFICANT INTERSECTIONS IN
RECENT SURFACE DRILLING
Hole From To Cu Zn Ag Au
m m % % gpt gpt
AN-04-01 799.05 800.25 1.35
AN-05-02 554.90 560.70 2.72
AN-05-03 522.85 549.00 1.28 0.23 1.6 0.3
AN-05-04 317.45 370.15 3.57 0.25 0.5
And 379.20 390.00 5.30 2.3
AN-05-05 194.5 210.9 pending
The Alexis-Noranda joint venture is advancing a planned 50,000-metre exploration drill program in the Rouyn-Noranda area in 2005. In addition to the three machines now working on the discovery area, two drill machines continue to test other 3-D Gocad, Titan24 and MegaTEM targets.
Quality control
Drilling on the West Ansil property is supervised by senior geologist Mario Masson, PGeo, and qualified person under National Instrument 43-101 guidelines. Assay samples are taken from drill core (BQ size) sawed in half with one-half sent to a commercial laboratory and other half retained for future reference. A strict QA/QC program is followed which includes mineralized standards, blank and field duplicate for each batch of samples. Significant assay results are duplicated at the original laboratory and a second independent laboratory. Assays were performed by ALS Chemex-Chimitec of Val d'Or, Que.
Philippe Cloutier appointed vice-president exploration
Alexis Minerals has appointed Philippe Cloutier, BSc, PGeo, to the position of vice-president, exploration.
Most recently, Mr. Cloutier has been the senior consulting exploration geologist for Alexis Minerals in Val d'Or, Que. Previously, he was senior geologist at Aur Resources, American divisions, and a project geologists for Noranda Mines and Soquem. Mr. Cloutier will be responsible for all levels of program management for gold and base metals projects in the Southern Abitibi district, specifically, the Rouyn-Noranda and Val d'Or mining camps.
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