I think you are right on Hank. We are now seeing for the first time what was happening in 1987. I sure took a long time, but now stocks are responding "EVENTS". good examply below: Stock almost doubled today and came out of nowhere.
This portends good things going forward hank. Lots of money can be made as long as this lasts. If it is a secular bull market that runs for years we can go retire on the beaches of Bora Bora.
Alexis Minerals Corp (C-AMC) - News Release
Alexis Minerals drills 9.2 m of 35.42 g/t gold
2007-01-24 12:03 ET - News Release
Shares issued 70,742,769
AMC Close 2007-01-23 C$ 0.58
Mr. David Rigg reports
ALEXIS CUTS 30.2 FEET OF 1.03 OUNCES GOLD PER TON (35.42 G AU/T OVER 9.2 M) IN NEW DEEP ZONE AT LAC HERBIN-SOUTH AND 240 FEET BELOW EXISTING MINE
Alexis Minerals Corp. is releasing high-grade gold results and substantial vein widths from a recently initiated phase IV program of underground exploration at its Lac Herbin deposit. New intersections, outside previously reported resource areas (see Stockwatch news Jan. 11, 2007), include 1.03 ounces gold per ton over 30.2 feet, or 35.42 grams per tonne (g/t) gold (Au) over 9.2 m, approximately 80 metres below any previous drilling in the area of the discovery. An additional drill hole 60 metres to the east of the discovery intersection has also encountered a strongly mineralized quartz-tourmaline vein over 12.5 metres in core length. Assays from this new hole are unavailable and will be reported shortly.
The new discovery supports the interpretation that the Herbin deposit strengthens and remains open to depth both to the east and the west.
Drilling results in the discovery area include (see table below): new intersections below previous resource modelling (at the 300-metre level); 35.42 g/t Au (9.76 cut grade) over 9.2 m (LH02-122), including 41.93 g/t Au (11.28 cut grade) over 7.7 m -- including 231 g/t Au (34.28 cut grade) over 1.2 m; and strongly mineralized 12.5-metre intersection (LH02- 123) 60 m east of LH02-122 -- assays pending.
The deepest previous intersections included in recent resource modelling in this area and at the 220-metre level returned: 23.82 g/t Au (16.38 cut grade) over 2.2 m (LH02-118); and 8.67 g/t Au over two metres (LH02-116).
"The deeper drilling results from this new area are excellent and higher grade than any previous exploration to the south of Lac Herbin," said David Rigg, president and chief executive officer of Alexis Minerals. "The new zone parallels one of the principal orebodies (S1) in current resources and is developing into an important gold structure on the project. The new intersections fall outside of current resources, offer very good upside potential for increasing grade and tonnage, and will provide additional input for ongoing feasibility and mine planning."
The Lac Herbin project is located 10 kilometres northeast of Val d'Or, 1.8 kilometres from the Aurbel gold mill, and adjacent to the past-producing Ferderber and Dumont mines.
Phase IV underground exploration program
The board of directors for Alexis recently approved a phase IV underground exploration program at Lac Herbin. The program will be undertaken concurrently with feasibility studies and is expected to be completed in March, 2007. The phase IV program will be directed at:
expansion of inferred resources through delineation drilling down dip, down plunge or on strike of known resource areas -- all resource areas remaining open at depth in current modelling;
new discovery in the immediate project area -- 11 targets have been identified adjacent to the area of the workings and development;
ramp development to the 250-metre level -- providing access for additional drifting and raising in ore to confirm ore continuity, distribution of high-grade areas within the deposit and to confirm the optimal mining approach (long hole or shrinkage); and
level development on the 200-metre, 150-metre and 170-metre levels to further advance within several of the gold zones and to provide additional drill stations.
A total of 445 m of ramping, 1,180 m of raising and drifting, and 8,000 m of diamond drilling are planned for completion during the phase IV program. Underground drilling continues with two machines. To date, a total of eight additional drill holes for 1,156.5 m have been completed. An access drift to facilitate deep drilling on the S1 zone has been completed and the ramp has been advanced 120 metres.
New discovery zone
The new intersections are the deepest holes drilled to date on a shear zone (the S3 shear) which lies along the southern limit of the area of exploration focused upon during the recent underground delineation and development program. The intersections and new discovery lie 80 m to 100 m below any previous work. The S3 shear parallels one of the principal structures hosting ore in the Lac Herbin mine, the S1 shear, and strikes approximately east-southeast with southerly dips of 70 degrees. The structure is also interpreted to be the far-western continuation of the North shear, a prominent structure and host to ore at the past-producing Ferderber mine (historical production -- 1.6 million tonnes at seven grams per tonne gold) several kilometres to the east.
Mineralization encountered in the new discovery area is open in all directions. Exploration to date on S3 suggests a minimum strike length to mineralization of approximately 200 metres. Indeed, the three principal gold zones (S1, HW and the new discovery zone) below the 200-metre level, all appear to show improved grades and widths with depth, and demonstrate minimum continuous strike length of 200 m at the lower limits of current drilling.
Quality control
The Lac Herbin underground diamond drilling program is supervised by Richard Roy, PGeo, of NordQuest Inc., qualified person as defined under National Instrument 43-101 guidelines. Assay samples are taken from underground drill core sawed in half with one-half sent to a commercial laboratory and the other half retained for future reference. A strict quality-assurance/quality-control program is followed which includes mineralized standards, blank and field duplicate for each batch of samples. Analyses were performed by ALS Chemex-Chimitec of Val d'Or in Quebec.
Mr. Roy, Claude Perrault, PEng, qualified person, R. Inglis, PEng, Michel Labonte and R. Adams, PEng, consultants to Alexis, supervise the underground program.
RESULTS FROM UNDERGROUND DIAMOND DRILLING --
NEW DISCOVERY (S3) ZONE, LAC HERBIN PROJECT, VAL D'OR (QUEBEC)
Hole From To Length Zone Uncut Cut grades(i) True
No. (m) (m) (m) grades (g/t Au) width
(g/t Au) (m)
Holes currently in resource
LH02-114 92.3 95.5 3.2 S3 shearing -- LV 2.0
LH02-116 50.7 52.7 2.0 S3 8.67 2.0
including 51.5 52.7 1.1 14.13 1.1
LH02-117 49.0 51.7 2.7 S3 shearing -- LV 1.7
LH02-118 93.0 95.2 2.2 S3 23.82 16.38 1.5
LH02-119 76.3 79.3 3.0 S3 4.40 2.0
Holes outside of resource block
LH02-122 155.0 162.7 9.2 S3 35.42 9.76 (VG) 4.2
including 155.0 162.7 7.7 41.93 11.28 3.5
and including 158.4 159.6 1.2 231.0 34.28 0.55
LH02-123 126.0 138.5 12.5 S3 strong QT veining with 6.0
pyrite assays pending
(i) All assays in excess of 34.28 g/t Au are cut
conservatively to 34.28 g/t Au (or one troy ounce per ton), a common
industry practice. Cutting factors at Lac Herbin have been based on
statistical results of the bulk sampling and test milling program
completed in November, 2006, and reported in January, 2007
(see Stockwatch news Jan. 16, 2007).
Note: LV -- low values, QT -- quartz tourmaline, VG -- visible native
gold
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