Alexis Intersects Up to 4.26% Zinc and 186 G/T Silver Over 4.5m at Wolverine Project and Surface Exploration Update in Val D’Or Mining Camp
ALEXIS MINERALS CORPORATION (TSX: AMC) is pleased to announce interesting results from recent drilling in Val d’Or, Quebec, on the Wolverine Zone, one of several near surface zones currently under exploration to evaluate open pit potential in the Val d’Or Camp. Exploration is also continuing to advance on deeper targets throughout the Camp.
“We are moving quickly to determine the potential growth prospects for each of the known areas of near-surface mineralization. Within our large land position these represent a potentially attractive opportunity for Alexis during the current cycle of high metal prices,” stated David Rigg, President and CEO of Alexis Minerals. “Our efforts are also continuing on the deeper exploration potential of the district principally along the Louvicourt-Manitou Barvue mine trends.”
Three holes, totaling 450m, were completed recently to test the Wolverine Zn-Ag-Au-Pb mineralized zone at shallow depths of less than 50m. The holes intersected wide zones of sulphide mineralization which returned values including:
Hole 17420-03 (5328555N; 224305E and 50m depth, MTM Nad 83 Zone 9):
– 0.69% Zn, 24.0 g/t Ag, 0.73 g/t Au over 6.2m (From 54.0 to 60.2m)
– 4.26% Zn, 0.27% Cu, 186 g/t Ag, 1.49 g/t Au, 0.26% Pb over 4.5m (From 83.2 to 87.7m)
Hole 17420-04 (5328515N; 224252E and 40m depth, MTM Nad 83 Zone 9):
– 1.14% Zn, 78.0 g/t Ag, 0.2 g/t Au and 0.31% Pb over 3.0m (From 44.5 to 47.5m)
– 0.83% Zn, 21.7 g/t Ag, 0.2 g/t Au over 7.0m (From 67.0 to 74.0m)
Hole 17420-05 (5328552N; 224205E and 40m depth, MTM Nad 83 Zone 9):
– 1.21% Zn, 4.0 g/t Ag, 0.48 g/t Au, 0.26% Pb over 3.4m (From 59.5 to 62.9m)
– 2.12% Zn, 41.1 g/t Ag, 0.75 g/t Au, 0.18% Pb over 6.5m (From 92.5 to 99.0m)
The Wolverine zone trends WSW- ENE and dips 60-70 degree towards the north. Historically, thirteen holes drilled between 1946 and 1988 intersected Zn-Ag sulphide-rich mineralization at depths of 100 to 250 meters over a strike length of approximately 100m. The zone remains open in all directions. Intersections from earlier drilling of the Wolverine zone include:
– 2.19% Zn, 48.2 g/t Ag, 0.30% Pb over 48.83m (Hole S-191),
– 1.45% Zn, 39.5 g/t Ag, 0.28 g/t Au, 0.13% Pb over 47.55 m (Hole S-192)
– 1.09% Zn, 17 g/t Ag, 0.54 g/t Au over 26.67m (Hole S-77).
Mineralization ranges from 10 to 50m wide (core length and true thickness) with sulphide mineralization characterized by 1-30% pyrite, 1-10% sphalerite and less than 2% galena as stringers and disseminations in sheared sericitized and chloritized felsic volcanic/volcaniclastic rocks. The zone is located 6 km west of the Louvicourt mine (15.65 Mt @ 3.42% Cu, 1.59% Zn, 25.8 g/t Ag and 0.92 g/t Au) and 2 km east of the Manitou-Barvue deposit (Past production (1942-1979) of 7.5Mt grading 4.52% Zn, 124.5 g/t Ag and 1.13 g/t Au; and 3.8 Mt grading 0.82% Cu and 0.75 g/t Au.
Alexis drilling was spaced at 40 metre intervals along the strike of the zone, near surface, and above previous drilling. Mineralization remains open in all directions and can be traced using surface geophysics over a projected strike-length of 350-metres. Additional near surface drilling will be undertaken to confirm the potential strike length of the zone, grade characteristics and environment, after completion of two deep holes west of the Louvicourt Mine.
Mineralization at depth on the Wolverine zone trends towards the depth extension of copper mineralization at the Quebec-Manitou deposit, located 400-metres north. The Quebec-Manitou deposit contains an historic, pre-National Instrument 43-101, estimated resources of 536,350 t grading 1.31% Cu.(Quebec Natural Resources Dept., Cogite number 32C/04-0077). Drilling to depth on the property has not tested the intersecting trends of Copper and Zinc mineralization.
Deep Drilling
Deep Louvem Target:
Four small base metal deposits (Louvem Zones 1-2, 3, 4 and 5) are known along a linear trend that extends to the east and through the Louvicourt Deposit. Louvem 4, the most westerly of the deposits, is interpreted to be base metal mineralization within a footwall stringer zone and lies stratigraphically below the mine horizon which hosts the Louvicourt mine and the Louvem 1-2, 3 and 5 volcanogenic massive sulphide (VMS) deposits. Surface drilling is currently testing a deep target which represents the intersection of the stringer zone system which hosts the Louvem 4 deposit, with the Louvicourt Mine horizon, approximately 1.8 km west of the Louvicourt Mine and 1,000 m west of the deep “P6″ target tested in 2007 (Hole No. 17315-10C).
Alexis completed five holes on deep Titan24 geophysical targets during 2007 to the immediate west of the current area of drilling and was able to complete down-hole geophysics (with a new survey cable) in the deep hole (17315-10C) in January 2008. The results are currently under technical re-interpretation. No massive sulphides were intersected in hole 17315-10C on target P6 but the stringer sulphide zone continues to depth. The additional five holes drilled in 2007 extend and reveal a more complex stratigraphic assemblage towards the west than previously recognized in the Val d’Or Camp. These holes have also confirmed multiple stratigraphic horizons which offer potential loci for VMS mineralization west of Louvicourt Mine and extending into the Dunraine property, one of 17 properties recently acquired by Alexis from Aur Resources (see Press Release: April 1, 2008). This area remains of particular exploration interest.
Deep West Target:
An additional deep target has been selected for drilling approximately 500-m west of “P6″ and to the east of the Deep Louvem target. The target represents a conductive zone interpreted from four holes drilled previously from the underground workings at the Louvicourt mine, all of which intersected strong, footwall chlorite alteration and stringer zinc and copper mineralization but potentially drilled sub-parallel to, and in the footwall of, the interpreted conductor. Significantly, the new interpretation suggests that the conductor sits to the south of the holes, represents an edge anomaly of a conductive sheet, and lies where the westward extension of the mine horizon has never been drilled.
Drilling will advance to completion of the deep hole in progress on the Deep Louvem target, and then to the testing of the Deep West Target prior to returning to the Wolverine area. Compilation and re-interpretation will continue as new data becomes available.
Quality Control
The base metal programs are supervised by Mr. Jean Girard, Eng. and Denys Vermettte, P.Geol., Qualified Persons as defined under NI 43-101 guidelines. Assay samples are taken from NQ or BQ core, 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 on samples from drill core which includes mineralized standards, blank and field duplicate for each batch of samples. Analyses are performed by ALS Chemex of Val d’Or, Quebec.
About Alexis Minerals
Alexis Minerals Corporation is a Canadian exploration and development company listed on the Toronto Stock Exchange. Alexis owns the 1400 tonne per day Aurbel gold mill and is currently advancing the adjacent, wholly-owned Lac Herbin Gold deposit into production in 2008. Alexis also has the right to earn in into a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda and is focused of advancing this project to a commercial production decision in 2008. Alexis holds an outstanding portfolio of properties covering 1,005 sq. km. of the prospective Val d’Or and Rouyn-Noranda Mining Camps in Quebec and explores these properties for both gold and base metals. Approximately 786 sq. km. of the Rouyn-Noranda Mining Camp is explored in a 50-50 joint venture with Xstrata Copper. There are currently four underground drills active at Lac Herbin, one surface drill active in Val d’Or and one surface drill active in Rouyn-Noranda.
Forward-looking information. This document may contain or refer to forward looking information based on current expectations, including, but not limited to, mineralization projections, estimates regarding the timing and costs of production and exploration, mineral prices, feasibility of projects, and future mining plans. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
Contacts: Alexis Minerals Corporation David Rigg President and CEO (416) 861-5889 (416) 861-8165 (FAX) Alexis Minerals Corporation Bruce Barch VP Investor & Corporate Affairs (416) 861-5905 Alexis Minerals Corporation Louis Baribeau Relationiste, Quebec (514) 667-2304 Email: info@alexisminerals.com Website: www.alexisminerals.com
SOURCE: Alexis Minerals Corporation