Alexis Confirm Lower Cost Mining Potential
Monday, August 13th, 2007
Alexis Minerals Corporation has announced that initial drill results from a drilling program on the companyâ€™s Lac Pelletier gold project, four kilometres southwest of RouynNoranda, Quebec. Drilling to delineate an area for potential longhole mining is proving successful in an area adjacent to the historic ramp and within the known deposit. To date, assay results from 15 drillholes (1361.5 m) of a planned 36 hole, 3567.5 m program have been received. The intent of the program is to identify a large volume ore shoot that could be mined using lowcost, longhole bulk mining methods during the early production stages of the Lac Pelletier operation as opposed to the stepped room and pillar mining approach studied in recent scoping study evaluations.
Significant results from the first 1,361.5 m of drilling are:
Â· 7.58 (5.33 cut*) g Au/t over 22.4 m (Hole 1747531)
Â· 6.68 (4.47 cut*) g Au/t over 18.1 m (Hole 1747527)
Â· 8.08 g Au/t over 13.2 m (Hole 1747533)
Â· 5.37 g Au/t over 10.6 m (Hole 1747551)
Â· 4.42 g Au/t over 25.5 m (Hole 1747537)
The current program has confirmed the presence of a large and extensive area of well developed mineralisation at the point of intersection of the two principal gold structures, B Shear and Zone 4. The zone has been confirmed over a minimum plunge length of 40 metres, a true vertical thickness of up to 25.5 m and an average width of 60 m but remains open. The thickened area trends west northwest and plunges at a shallow angle to the east southeast. Mineralisation is characterised by a strongly chloritecarbonated altered shear zone containing up to 5%disseminated to fracture filling pyrite and 1040% quartzcarbonatetourmaline veins and veinlets. Fine disseminated visible gold is occasionally observed associated with the sulphides. The drill program continues to expand the zone.
Additional results will be reported as results become available from the assay laboratory. Holes are closely spaced on a 10 x 15 metre pattern and have been drilled vertically to best evaluate the zones mining potential.
â€œThe new results demonstrate the potential for lowcost, bulkmining at Lac Pelletier,â€ David M. Rigg, president and CEO of Alexis Minerals. â€œAll holes have intersected targeted mineralisation within metres of their projected locations. Drilling has confirmed continuity to mineralisation in the zone and supports the potential of locating additional lowcost, bulkmineable resources elsewhere on the property. Lac Pelletier offers Alexis potential for production with a short leading time for start up and low capital costs in support of development of the Lac Herbin mine project in Val dâ€™Or. Alexis will focus on dewatering the underground infrastructure at Lac Pelletier in 2007 and underground exploration to upgrade and expand the resource, test mining to confirm grade, and further metallurgical work.â€