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Alexandria Minerals (TSXV: AZX) Reports the first results from its current drill program in Quebec

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With a portfolio of assets in well-known and prolific Canadian mining districts, the company is currently focussed on its Val d’Or properties, where it has completed more than 150,000 metres of drilling.

Additional Information:

Company: Alexandria Minerals
Website: http://www.azx.ca
Stock Symbol: TSXV: AZX
Date Published: Feb 1, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Alexandria Minerals has reported the first results from its current drill program in Quebec.

With a portfolio of assets in well-known and prolific Canadian mining districts, the company is currently focussed on its Val d’Or properties, where it has completed more than 150,000 metres of drilling.

Current drilling at Orenada Zone 4 is still relative shallow, at less than 300 metres, continues to expand the near-surface potential of Zone 4.

Currently one drill rig is operating at Zone 4, with a second drill rig expected to arrive in the near future to begin a drill program on the company’s Triangle Too program, a grass-roots program to test for stacked high grade veins 1 to 2 kilometres northwest of Zone 4.

Highlights include hole OAX-17-084 which intersected multiple veins with up to 42.5 grams per tonne gold over 1.5 metres, 16.3 grams over 1.2 metres and 14.9 grams over 1.15 metres.

Results confirm multiple high-grade gold-quartz veins and vein sets to the west of recent drill holes, with visible gold observed in 4 veins between 150 and 190 metres, showing evidence of gold occurrences below previously known limits of gold mineralization at Zone 4.

Assays reported here comprise a portion of the upper half of the drill hole.

Results are pending for all of the hole below 200 metres, as well as from selected portions of the core above the 200 metre down hole depth.

The company is headed by Eric Owens President, CEO, and Co-Founder, who brings 30 years’ exploration in the western hemisphere with companies such as Newmont, BHP, Phelps Dodge, and Echo Bay.

Eric Owens stated: "This is a great start for our 2017 winter program. We have already shown growth along strike and beneath previously tested flat south-dipping, gold-bearing veins. We expect further positive results as we progress, and anticipate that, as a result, our 12,500m drill program will grow larger."

Gold veins at Zone 4 are hosted in the Cadillac Break shear zone, a 300 kilometre long fault and geologic belt, along which some 100 million ounces of gold have been mined.

Other notable gold deposits partly or wholly hosted in the Cadillac Break shear zone include the Canadian Malartic gold mine, a 13 million ounce gold deposit located 30 kilometres west of Zone 4, and, further west, the 3 million ounce Hosco and Heva gold deposit of Hecla Mining.

In December the company raised approximately $5.1 million from the issuance of 44 million regular units at $0.05 and 45 million flow-through units at $0.06.

The shares are trading at $0.07, and with 435 million shares outstanding, the company is capitalized at $30.5 million.

For more information, please visit the company’s websites www.azx.ca or contact Mary Vorvis, Vice President of Corporate Development and Investor Relations at 416-305-4999 or email info@azx.ca.

I’m Samantha Deutscher for Investmentpitch Media