Alexandria Minerals Corp.
Stock Price - News Releases
Alexandria Minerals is a junior gold exploration company focused on under-explored, high-potential mineral properties in the world-class gold mining camps of Ontario and Quebec, Canada. The Company completed its initial public offering (IPO) on the Toronto Venture Exchange (symbol: AZX) in April of 2006, coupled with a financing for gross proceeds of $1.5 million.
The Company has assembled a portfolio of gold properties in the historic Abitibi Belt, a 700-km-long geological structure stretching from northeastern Ontario into northwestern Quebec that has produced more than 170 million ounces of gold over the past century. The properties were selected because of their proximity to known gold deposits, the presence of gold occurrences as confirmed by sampling or drilling campaigns, and their geological environment and overall potential for the discovery of significant gold deposits. Many of the properties lie on or near the prolific Cadillac Larder Lake Break, a regional gold-bearing fault zone that has produced 100 million ounces of gold from mines in its vicinity. This 300-km-long structure is noted for such historic mining camps as Val d’Or and Noranda in Quebec, and Kirkland Lake in Ontario. Various other companies are exploring or reviving projects in these camps with good success. One example is the Queenston-Globex joint venture, whose first 2006 drilling results at the Pandora Property (between our Joannes and Siscoe properties intersected 22 grams gold per tonne over 22 metres.
Since becoming a public company, Alexandria Minerals has conducted initial exploration of its coreproperties to establish a foundation for future growth. The Company has also implemented an Investor Relations program, received a secondary listing on the Frankfurt Stock Exchange (symbol “A9D”), and formed productive relationships with larger companies in the industry. These relationships have allowed the Company to significantly expand its holdings in the Abitibi Belt through joint ventures and option agreements covering more than a dozen new projects.
On the exploration front, the Company has completed geochemical and geophysical surveys at the Siscoe East and Joannes projects in Quebec, and the Matachewan gold property in Ontario. Drilling was completed at the Siscoe East project in the Val d’Or camp, with the initial holes successfully testing three main target zones. (Please click here to view a map showing the drill target areas.) Results of work programs are summarized in news releases that are available for viewing on this web-site.
Along with ongoing field activities, Alexandria Minerals has significantly expanded its presence in the Abitibi Belt. The Company enlarged its Siscoe East project by acquiring the adjacent Stabell Mine property from Virginia Mines, with past production at grades ranging between 0.25 ounces of gold per ton and 0.45 ounces of gold per ton. The Company also completed a Joint Venture agreement with Cambior Inc. to acquire interests in several properties in the Val d’Or district, located along the Cadillac Break. This agreement gives Alexandria interests in a past–producing gold mine (Akasaba) as well as historic, non 43-101 compliant resources at both Akasaba and the Sleepy Zone.
Alexandria also signed an option agreement with Aur Resources to acquire up to 100% interest in ten properties in the Val d’Or mining camp through staged exploration expenditures and other considerations. The properties, which have enabled Alexandria to become one of the larger claim holders in Val d’Or, cover a variety of geological settings and styles of mineralization for gold and base metals, and range from early-stage prospects to advanced exploration projects with historic resources (not yet compliant with National Instrument 43-101 disclosure standards).
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