Alexandria Minerals Announces Completion Of Private Flow Placement.TORONTO -- Alexandria Minerals is pleased to announce the completion of a private placement by issuing 2,000,000 Flow Through shares for gross proceeds of $240,000. The proceeds are earmarked for exploration activities on its gold properties in northern Ontario Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it and Quebec. Alexandria Minerals Corporation has two principal properties along the Cadillac-Larder Lake Break: Matachewan (Ontario) and Siscoe (Quebec) properties. The Matachewan Property, located west of Kirkland Lake Kirkland Lake, mining town, E Ont., Canada. An important gold-mining center, gold was discovered there in 1911 and again in the 1980s at Harker. The mining of iron ore and tourism are two other important industries. , is underlain un·der·lain v. Past participle of underlie. by geology similar to that elsewhere in the Kirkland Lake Belt. The company conducted an airborne magnetic and EM survey over the property, followed by 68 km of line cutting and ground magnetics, and 51 km of Induced Polarization Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials, such as ore. The method is similar to electrical resistivity tomography, in that an electric current is induced into the subsurface through two electrodes, and voltage is (IP) surveys. The IP chargeability has outlined three target area anomalies each over 1 km long. One IP anomaly is along a Syenite-Sedimentary contact with coincident oxidized oxidized having been modified by the process of oxidation. oxidized cellulose see absorbable cellulose. mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. stripped outcrops and anomalous gold in historic drill holes (1981 Minorex Ltd.). A second IP anomaly occurs along the Larder Lake break, a shear zone with considerable deformation, alteration and pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. present, observed in an historical drill hole tested by WMC WMC Winter Music Conference WMC Weill Medical College (Cornell University) WMC Wisconsin Manufacturers and Commerce (Madison, WI) WMC Westchester Medical Center WMC Western Mining Corporation International Ltd. in 1995. The third IP anomaly is along the fold nose in a magnetic iron formation and ultramafic rocks. On the Siscoe Property, located 5 km north of the town of Val-d'Or, sits between the Siscoe and Sullivan Mines. The company conducted ground magnetics and IP surveys over the property, which have outlined geological structures on the property that are parallel to those in the adjacent Sullivan and Siscoe Mines. In the Siscoe Mine, the historically mined structures trend east-west, southeast and north-northeast, and in the Sullivan Mine they trend northwest. A number of these outlined structures will be looked at as potential drill targets in the future programs. Detailed 43-101 technical reports on these two properties may be viewed at www.sedar.com. Alexandria Minerals Corporation is a junior gold exploration company intent on the discovery of new gold deposits in the Canadian Shield. In addition to the two properties discussed above, the company has three other gold exploration properties in its portfolio, on which the company will conduct activities as budgets permit. Forward Looking Statements: The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. This press release was prepared by Alexandria Minerals Corporation. |
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