Mining Companies - Gold Companies

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Alexandria Minerals Corporation is a Canadian gold exploration company focused on exploring and developing one of the largest properties in the prolific Val d'Or, Quebec, gold mining district. They are situated within 15 km of 4 mills that are operating below capacity. They seek JV partners for development leading to production. The Company is listed on the Toronto Venture Exchange under (AZX) and Frankfurt under (A9D) and OTC under (ALXDF).

Annual Trading Range .09 to .275

Trading on 7 Nov 2011 @ .13

Major Shareholders: Management owns 13%, Teck and IAMGOLD Corp own 7%, Agnico-Eagle 9.9% @ .21 cents/share

Financials

Q2 2011

Cash and Equivalent 4.5M

ST liabilities 460K

Cash Burn Rate Exploration 1.4M

Non Exp 570K

Quarterly Loss (.01)

Update :

October 26, 2011 Alexandria Minerals Corporation Closes $3,000,000 Financing

Properties

Summary

Size: 675 claims, 12,192 Ha

Location: Val d'Or, QC

Prospects: Copper, Gold, Silver, Zinc

NI 43-101 Resource: Click Here

Acquired: Cambior (IAMGOLD) and Aur Resources (Teck Cominco) 2007

Overview Top

The Cadillac Break Property Group comprises 20 properties stretching for 35 km along the Cadillac Break, a regional fault zone that has produced some 100,000,000 ounces of gold since the early 1900's. Alexandria's initial 14 properties in this group came from two property agreements in late 2006 from Aur Resources Corp. (Teck Cominco) and Cambior Inc. (IAMGOLD Corp.). The Company staked or acquired the remaining properties subsequent to the initial purchase. Alexandria holds 100% interest in all 20 properties, subject to a 2% NSR, which lie in Bourlamaque, Louvicourt and Vauquelin Townships.

Geology
Geologically, the dominant feature underlying the properties is the Cadillac Break, a regional fault zone that separates metasedimentary rocks of the Pontiac Group on the south side from predominantly volcanic rocks and associated intrusive rocks on the north. However, this large property package hosts a variety of geological environments favourable to gold mineralization, including those which are known elsewhere to host large gold deposits, including: 1) shear-zone, 2) gold-rich massive sulphide, 3) felsic intrusive and skarn, and 3) disseminated gold.

The property group hosts four historic gold deposits: Orenada, Mid-Canada, Akasaba, and Sleepy. Two of them, Mid-Canada and Akasaba, are former producing mines, the latter having produced 40,000 ounces of gold at a grade of 5.14 g/t of gold in the early 1960's. Orenada has had underground development in the form of a 300 m shaft and two horizontal exploration drifts.

Exploration
The properties have been explored by various operators since the early 1930s, with over 2,400 drill holes completed since that time. Other work includes multi-property geophysical and geochemical programs, and trenching and mapping, all of which Alexandria has been compiling into a single database. It is worth noting that recent blind discoveries in the region (as at Lapa and Goldex), at depths between 500 m and 1,500 m, show that the Cadillac Break Group of properties is highly underexplored, as most drilling has been in the upper 150 m over the whole package, only locally testing down to 300 m depth.

Akasaba

Size: 23 mining claims and 1 mining concession, 487 hectares

Location: Louvicourt Township

Prospects: Copper, Gold, Silver, Zinc

Past Production: 40,000 oz. Au and 13,000 oz. Ag (262,568t at 5.14 g/t Au and 1.97 g/t Ag)

NI 43-101 Resource: None (In Progess)

Acquired: May 2007, from CAMBIOR

The Akasaba Property lies in the center of Cadillac Break group of properties and hosts the historic Akasaba Gold Mine that produced 262,500 tonnes grading 5.14 g/t gold and 1.7 g/t Ag. Gold mineralization at the Akasaba Mine is hosted in semi-massive to stringer sulphides (pyrrhotite, pyrite,and chalcopyrite) in volcanic rocks of the Southern Malartic Group.

Alexandria's exploration programme has identified a gold-rich Mine Horizon, with high grade intersections up to 121.00 g/t Au over 0.70 m as well as wide, near surface intersections such as 1.19 g/t Au over 63.30 m. Ore grade gold assays have been encountered for more than 1 km along strike and to 400 metres vertical depth, and the zone remains open in these directions. The Company's primary exploration focus for 2011 will be to expand, and better define, gold mineralization at Akasaba with the intent of building a substantial gold deposit, leading to an NI 43-101 resource estimate.

Geology

The Akasaba property straddles the Cadillac Tectonic Zone (CTZ) and is underlain by the Val d'Or Formation, Heva Formation, Cadillac, Piche and Pontiac Groups. The main Mine Horizon lies approximately 600 m north of the CTZ and consists of basalt to andesite volcaniclastic rocks and flows intruded by gabbro and diorite sills, and is bound on the south by massive dacite.

Gold mineralization occurs in all rock types, but mainly in three principal parallel lenses, or veins, denoted A, B, and C, and numerous smaller ones. Sulfides, principally pyrrhotite, with lesser pyrite and chalcopyrite, comprise between 5-50% of the gold-bearing zones, typically as semi-massive to stringer sulphides. Associated alteration minerals are quartz, carbonate, chlorite, biotite and epidote. A strong epidote-hornblende-actinote-magnetite type alteration is present at Akasaba and is easily identified in outcrops around the historic mine area.

Akasaba hosts polymetallic mineralization, with widespread silver (up to 50 g/t) and copper (generally 0.2-0.4%, locally up to 1-2%), and local high grade zinc (up to 6.35% Zn over 0.3 m in a massive sphalerite-pyrrhotite layer). Taken together with the host volcanic environment and the multiple stratigraphic targets, Akasaba geology is consistent with either a contact metasomatic origin or a gold-rich VMS origin, the latter similar to Agnico Eagle's La Ronde Mine (Proven and Probable resources of 34,380,000 tonnes grading 4.39 g/t Au, 28.3 g/t Ag, 0.28% cu and 1.16 % Zn).

Alexandria 2007 - 2010
Alexandria acquired the Akasaba property in the Spring of 2007 from Cambior as part of an agreement that included the Sleepy, Bloc Sud Trivio and Bloc Sud West properties. In early 2009, a small exploration programme was initiated to A) verify the high-grade gold mineralization around the historical Akasaba Mine and B) test the growth potential of this zone along strike and at depth. Alexandria's small 3 hole drill programme was very successful, intersecting 24.5 g/t Au over 1.00 m, and 57.23 g/t Au over 0.5 m, expanding the zone of mineralization 250 metres east along strike and 225 metres below the mine area. Follow-up geophysical work, including IP and Magnetic surveys, and numerous grab samples and trenches later that year expanded identified 900 m of continuous gold mineralization within the Mine Horizon.

Between 2009 and the end of 2010, Alexandria completed more than 23,000 m of drilling along the Mine Horizon, expanding mineralization to its present dimensions of 1 km along strike by 420 m deep. Assays vary from wide, low grade intersections west of the mine area, including 1.21 g/t Au over 19.80 m, to narrow, high grade intersections, including 19.33 g/t Au over 4.55 m and 45.60 g/t Au over 0.80 m, on the eastern end of the Mine Horizon. The most continuous gold mineralization occurs in a 100 m envelope around the historic mine area with assay results as high as 7.74 g/t Au over 6.01 m and 1.97 g/t Au over 63.3 m. (All true widths). In addition to consistent gold intersections, encouraging copper, silver and zinc grades have also been intersected within this growing zone of mineralization.

Current Exploration Top
Alexandria 2011
Akasaba remains the focal point of Alexandria's exploration efforts for 2011. Currently, two drill rigs are completing a 25,000 drill programme focused on infill drilling in the top 100 - 200 m of the Mine Horizon, and testing new targets along strike and at depth. Alexandria will continue to drill on this property for the foreseeable future with the intention building a sizable gold deposit leading to completion of a NI 43-101 compliant resource estimate.

Orenada

Size: 29 mining claims, 1 mining lease; 487.14 hectares

Location: SW Bourlamaque Township

Prospects: Copper, Gold

NI 43-101 Resource: M&I: 446,000 oz. Au Inferred 302,000 oz. Au (Full Report)

The Orenada property is located on the western end of the Cadillac Break property package, approximately 4 km south east of the town of Val d'Or, QC. The property straddles the Cadillac Tectonic Zone (CTZ) and hosts two surface vein-type gold deposits, Orenada Zone 2 and Orenada Zone 4, within this shear zone. In the Fall of 2009, Alexandria completed a NI 43-101 compliant resource estimate on Orenada Zone 2 and 4 that identified Measured and Indicated resources of 446,000 ounces of gold and an Inferred resource of 302,000 ounces of gold.

Alexandria Exploration 2007 - 2009
Alexandria began a multi-rig exploration programme in the Spring of 2007 that concluded in July 2008 with 52-holes of exploration drilling totaling 21,744 metres. This drill programme expanded the zone of mineralization from a mere 200m wide and 100m deep to over 800m along strike 450m deep.

In early 2009, Geologica Groupe-Counsel was commissioned by Alexandria to complete a NI 43-101 resource estimate on Oreanda Zone 2 and Zone 4. The report, released in August 2009, outlines a near surface gold deposit with a Measured and Indicated resource of 435,000 ounces Au and an Inferred resource of 279,100 ounces Au.

Summary of Measured and Indicated, and Inferred Resources at Orenada

Full Resource Tables

Current Exploration:
Alexandria is currently evaluating economic production scenarios at Orenada that include in-situ milling operations and outsourced custom-mill operations. The Company intends to find a partner for this property to 1) lead to production and 2) enlarge the deposit through drilling.

Sleepy

Size: 8 mining claims, 312 hectares

Location: Louvicourt Township

Prospects: Copper, Gold, Silver, Zinc

NI 43-101 Resource: Inferred 150,000 oz. Au (Full Report)

Acquired: May 2007, CAMBIOR

The Sleepy property is located on the eastern end of the Cadillac Break Property package, approximately 25 km east of Orenada, and hosts a disseminated pyrite-gold zone in the Vicour Gabbro Sill. The Company began exploration drilling in 2007 and completed a NI 43-101 Compliant Resource in the Fall of 2009. This initial resource estimate outlined a near surface inferred resource of 150,400 oz. Au (1,500,000 tonnes grading 3.0 g/t Au). Recent exploration drilling in January 2011 has expanded gold mineralization at depth. Alexandria plans to continue exploration drilling on the property with the intent of defining a sizeable gold deposit.

GEOLOGY

The Sleepy property is located north of the Cadillac Tectonic Zone (CTZ) and is underlain by the volcanic rocks of the Malartic Group. Local geology consists of intermediate to felsic agglomerates, tuffs and flows, and a sequence of intermediate spherulitic flows, intruded by dioritic to gabbroic sills. The largest of these gabbro sills, the Vicour Sill, 100-350 m in width, is the host for gold mineralization on the property.

The Sleepy Gold Zone is a disseminated gold-pyrite mineral deposit hosted in a distinctive blue quartz tonalite layer within the differentiated Vicour Sill. This tonalite layer is laterally extensive, having been intersected at various places over much of the length of the Vicour Sill, most notably at the Sigma II gold deposit located 4.5 km to the northwest within the same Vicour Sill. The Sigma II mine produced 1.8 Mt of ore grading 1.7 g/t Au from an open pit, and has a current reserve of 1.2 Mt grading 2.8 g/t Au.

Gold mineralization in the Sleepy Zone is associated with 2% to 10% pyrite as disseminated grains and veinlets, minor chalcopyrite and local sphalerite. Principal alteration mineralogy consists of albite, blue quartz grains ("eyes") and quartz veinlets, and chlorite. Assay intervals of holes drilled to-date reveal a relatively uniform distribution of gold within the Sleepy Zone: in hole SAX-11-01, completed in January 2011, for instance, the average grade of the zone was reported as 3.81 g/t over 9.0 m, where all values ranged between 2 g/t and 8 g/t Au.

HISTORICAL EXPLORATION

Historically there have been 206 holes, totaling more than 4,000m, of drilling on the Sleepy property. This active exploration began in the late 1970's when Soquem initiated a 20-drill hole program after positive glacial tills and geophysical signatures were discovered. In 1999, Cambior completed an in-house resource estimate on Sleepy defining a total of 152,471 tonnes grading 5.1 g/t Au.

Alexandria Exploration 2007 - 2009

Since Spring 2007 Alexandria has completed 15 drill holes on the Sleepy property totaling more than 5,600m. Exploration drilling has focused on defining gold mineralization within the Vicour Sill and expanding this gold zone west along strike and at depth. In addition to significant gold intersections within the Vicour Sill, Alexandria also discovered a stringer copper zone located 1 km east of the Sleepy deposit that intersected 0.34% Cu over 35.8 m. This new bornite and chalcopyrite copper discovery is hosted in dacitic and andesitic volcanic rocks south of the Vicour sill.

In the Fall of 2009 Alexandria commissioned Geopointcom of Val d'Or, Quebec to complete a NI 43-101 Compliant Resource. Geopointcom outlined a resource of 1,557,000 tonnes grading 3.0 g/t Au totaling 150,400 ounces of gold. Gold mineralization was defined from surface to 350 metres vertical depth, with a total width of 300 metres within the Vicour Sill and remains open along strike and at depth.

Summary of Inferred Resources at Sleepy

CURRENT EXPLORATION

In January of 2011, a small, 3 hole 1,500m, step-out drill programme tested gold mineralization west along strike and below the current zone of mineralization. Initial results from this campaign have been very encouraging with the first of three drill holes (SAX-11-01) intersecting 3.81 g/t gold over 14.00 metres (9.00 metres true-width). Assays are still pending for the remaining two drill holes however, these positive results continue to show the growth potential of the Sleepy deposit at depth and along strike.

A follow-up drill program of 7-8 holes began in April 2011, that will test 1) the down-plunge extension of the Sleepy deposit, and 2) for gold in the Sleepy Zone intersected about 1 km east of the deposit

Corporate

Management

Eric Owens - President and CEO, Director
Dr. Owens co-founded Alexandria Minerals and helped guide the company to its present status as one of the principal explorers in Val d'Or, Quebec. With 27 years of experience in the mineral exploration industry in North America, Mexico and Central America, he previously held positions with Newmont Mining, BHP Minerals, Phelps Dodge, and Echo Bay. His accomplishments include the discovery holes at the El Zapote silver deposit in El Salvador, definition drilling of the American Girl and Madre-Padre gold mines in California, and at the Brookbank gold project in northern Ontario.

Peter Legein - Vice President of Exploration
Peter Legein is a professional geologist and management consultant with over 30 years experience in base metal and gold exploration in Canada and Australia, including 20 years with Utah Mines Ltd and BHP. Proven discoverer of two significant base metal deposits, Caber and Caber North, located near Matagami Quebec, for which his team was awarded the Quebec Prospector of the Year award in 1994. Mr. Legein also discovered numerous base metal and gold showings in the Abitibi region of Quebec and Ontario as well as in Newfoundland. He is graduate of Concordia University, B.Sc. Geology, and the Executive Management MBA program at Royal Roads University, Victoria BC.

Mario A. Miranda - CFO
Mr. Miranda is a Chartered Accountant with extensive experience in the resources industry and has held various senior financial positions including Chief Financial Officer at Alturas Minerals Corp., where he concurrently continues in this role; former Chief Financial Officer at Lake Shore Gold Corp and White Pine Resources Inc.; and Interim Director for Financial Reporting for Kinross Gold Corporation. He is a member of the Ontario Institute of Chartered Accountants(ICAO). Fluent in English, French and Spanish, Mr. Miranda is a graduate of McGill University (Graduate Diploma in Public Accounting) and has an undergraduate degree in Economics from Concordia University (BA).

Media

Corporate Presentation

Fact Sheet

http://www.azx.ca/ir/factsheet.pdf

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Comments (4)

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written by FabCH, January 25, 2012

Hi Brian !


Thank you for bringing upfront this nice company which make me think of Temex Resources, currently working in the Timmins area and having nice results and developments (notably a joint-venture with Goldcorp on a property with near mills). Marketprice quite similar with exciting 2012 year ahead ;-)

http://www.temexcorp.com/s/Home.asp

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written by Brian Boutilier, November 11, 2011

Well, its good to see your hit the radar here at Bullion Bulls. Yes, Guanajuato was a great deal. Hope we get to do more tours that are if that calibre. I have enjoyed looking over the links you've posted. You certainly have a depth of knowledge about Alexandria, that our readers will benefit from. If you wish, I can start a thread. That venue will give us more latitude for publishing and editing. Again, great to have you here.

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written by TMFSinchiruna, November 11, 2011

My name is Christopher Barker, and I cover precious metals for The Motley Fool.

http://www.fool.com/author/1632/index.aspx

After meeting Brian recently during our tour of the Guanajuato operations of Endeavour Silver and Great Panther Silver, I am glad I had occasion to come over to bullionbulls and join this community as a brand new member. I like what I see, and I get excited anytime I see a community of people combining their capabilities to make each individual a more effective investor.

You'll find we have a similarly engaged community of resource investors active at the "CAPS blogs" over at The Motley Fool, where my own blog serves as something of a community hub.

http://caps.fool.com/Blogs/Vie...9416869148

I must confess I am extremely bullish on Alexandria Minerals. I own more than 125 stocks, but Alexandria is by far my largest holding. My cost basis is USD 0.164, and I emboldened during this period of relative weakness by the fact that Agnico-Eagle was happy to pay CDN 0.20 for its 9.9% stake in the Spring of 2010. And that was BEFORE Alexandria released a string of powerful assays from its flagship Akasaba project, including 2.01g/t Au over 78.77m on May 27 2010, 7.41g/t Au over 4m on June 17 2010, 19.74g/t Au over 2.4m on January 20 2011, 7.44g/t Au over 8.5m on April 12 2011, 100.4g/t Au over 2.2m on May 31 2011, 3.07g/t Au over 19m on July 27 2011, etc. [Relevant press releases linked below for your convenience]

http://www.azx.ca/news/2010/news20100323.html

http://www.azx.ca/news/2010/news20100527.html

http://www.azx.ca/news/2010/news20100617.html

http://www.azx.ca/news/2011/news20110120.html

http://www.azx.ca/news/2011/news20110412.html

http://www.azx.ca/news/2011/news20110531.html

http://www.azx.ca/news/2011/news20110727.html

After scrutinizing each and every set of drill results to emerge from Akasaba since Alexandria began exploring there in 2009, I feel conservative in my expectation that the company's initial resource estimate that will be released in early 2012 will add at least another 400,000 ounces to the company's growing tally. From an existing total resource of 900,000 ounces, that would bring the tally to 1.3 million ounces or more within the company's expansive and still under-explored property portfo0lio right in the sweet spot of Val d'Or's Cadillac Break.

The current market cap of USD 18.6m yields a valuation of just over $20 for every ounce of existing gold resource. As one begins to anticipate even just a portion of the ounces anticipated from Akasaba's initial resource, the valuation gap grows more noteworthy still.

After identifying the company as a particularly compelling prospect on the basis of that deep and persistent valuation disconnect, I brought Alexandria Minerals to the attention of my readers at the Motley Fool CAPS blogs, and on two occasions CEO Eric Owens was kind enough to come directly into our online community to relate the company's story directly and answer questions from community members. Here are the relevant links:

Introducing the story:
http://caps.fool.com/Blogs/com...aps/569492
Live chat / Q&A #1
http://caps.fool.com/Blogs/liv...ria/571634
Live Chat / Q&A #2
http://caps.fool.com/Blogs/cap...rum/617724

I invite you all to review those blog posts, and to dig deeper into Alexandria's story. I am happy to answer any questions you have about the company (my e-mail is sinchiruna@cox.net). Brian has done a terrific job summarizing the relevant particulars above, but I'm sure he joins me in encouraging members of the community to use this post as a starting point for collective research and due diligence.

Alexandria's gold will not continue to fetch just $20 of market valuation per resource ounce for long, and as gold's continued ascent combines with the pending addition from Akasaba, I detect a powerful re-rating in the making. The strategic value of the assets from the perspective of a potential consolidator within the Cadillac Break must not be overlooked, and I am particularly interested in discussing (both here and with my Motley Fool community) the strategic implications of Agnico's recent closure of the Goldex mine (i.e. the spare mill capacity in the area continues to grow).

I hope you enjoy taking a close look at Alexandria Minerals as your time affords, and I look forward to getting to know another online community of investors.

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written by Brian Boutilier, November 11, 2011

What caught my eye was location (Val d'Or), the strength of the holdings by tech and IAMGOLD. They have ongoing robust exploration programs, and just refinanced. They should be updating resources this winter, after both expansion and infill drilling. They are within close trucking distance for several operating mills. I found all that put together, compelling at the price. The only downside, was the FD share structure. I prefer a tighter structure.
Disclaimer, I own shares

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