Akasaba Property

Au, Cu
Ag, Zn
Louvicourt Twp
Quebec 32C04
487.48 Ha. 26 claims 100% Alexandria

Akasaba Property Location & Geology


Property location and description:

The Akasaba property is located in the Ranges XIII to XIX and VI of the Louvicourt Township, (approximately 48°03’N and 77°33’ W) NTS 32 C/04 at around 25 kilometres east of Val-d’Or on Louvicourt and Bourlamaque Township. The property consists of twenty-six (26) claims, covering 487.48 hectares.

Economic geology:

The property is located at the boundary between two geological sub-provinces from the late Archean age, the Pontiac sub-province (tightly folded interbedded greywacke and mudstone conformably lying on the top of the Heva formation) and the Héva Formation (intermediate to mafic flows and pyroclastics with dacitic intercalations) of the Malartic group. The Akasaba mine horizon is stratigraphically located on the summit of a thick volcanic and pyroclastics series at contact with sedimentary rocks from the Trivio group. It is hosted in intercalated intermediate to mafic tuffs and flows intruded by dioritic to gabbroic syn to post-volcanic dykes. Several E-W shear zones are present and parallels the main Cadillac Break Zone. Several 2nd and 3rd order NE faults can be identified. The Southern contact of the favourable volcanic horizon is limited by a dacitic unit that extend over two (2) kms. The northern contact of the favourable volcanic horizon is delimitated by a diorite-gabbro sill that extend over three (3) kms and thin westward.

Between 1960 and 1963, the Akasaba mine produced 265,000 tonnes with an average grade of 5.20 g/t Au and 1.7 g/t Ag.  In the 1970’s and early 1980’s Soquem estimated a resource of 255,000 tonnes at 6.33 g/t Au in the 4 lenses (A, B, C, D). The gold was thought to be associated with stratiformed disseminated to semi-massive lenses of pyrrhotite-chalcopyrite hosted in mafic lapilli tuffs and brecciated basalt altered to epidote-hornblend-actinolite after scarnification. The genesis of the deposit remains very controversial.

Previous work:

Work description
Prospection and 1532m of drilling
  • Discovery of copper and gold showings
Development, Geophysical and geological survey, 26353m of drilling
  • Reserve calculation
Acquisition of Frobisher stake and Ventures Ltd stake, Exploitation of the Akasaba mine
  • 262,568t at 5.14g/t Au and 1.7g/t Ag Recuperation (91.4%) of 39, 744 ounces and 12 746 ounces Ag.
Acquisition of Obaska Lake Mines Ltd, Acquisition of the control of Akasaba Gold Mines Ltd of Obaska Lake Mines Ltd.
Acquisition of the control of Akasaba Gold Mines Ltd of Obaska Lake Mines Ltd. Geophysical survey (PP, airborn magnetic ), Hg(Mercury survey), geological and structural survey, geo-chemical and bio-geo-chemical studies, outcrop stripping, Detailed mapping
Compilation, Prospection & sampling, 6921m of drilling, Master by Jeanne Lebel, Master by Lev Vorobiev, lithogeochemical sampling, geophysical compilation, stripping, humus geochemistry survey by Cambior
  • Reserve calculation (254,750t at 6.33g/t Au (cutting grade:3.4g/t), Potential: 100, 000t),
Prospection, Trenching, Geophysics, and 39,027m of drilling by Alexandria Minerals Corp.
  • Mineralized lenses identified along 1km strike length and down to 500m below surface
44,885.45m of drilling by Alexandria Minerals Corp.  Discovery of Akasaba West Zone
Resource estimation (43-101)
IPower-3-D and IP hole to hole 3-D model.
  • Exploration of the mineralized lenses at depth
  • Exploration for lateral extensions: discovery of the West Zone in 2012.
  • Resource calculation (2013):Main Akasaba Zone:Indicated Resources:
  • Underground: 653,929 t@ 5.79g/t Au (121,657Oz Au).
  • Open Pit: 3,009,214 t@ 1.37g/t Au  (132,475 Oz Au)Inferred Resources:
  • Underground: 1,537,973 t@ 5.51 g/t Au (272,385 Oz Au)
  • West Zone : 14,863,740 t@ 0.69g/t Au & 0.41% Cu (332,074 Oz Au & 61,255,885 Kg Cu)
  • Sale of the West Zone (Oz Au, t Cu) for 5M to Agnico-Eagle (14 claims), 2% NSR.

Significant results:

On Akasaba, the mineralization is principally hosted within three (3) distinct anastomosing lenses which have been identified over 1km strike length. The gold mineralization is associated with quartz-carbonate ± epidote veinlets (mms to 10 cms wide) &/or alteration in the mafic to intermediate volcanic lavas and tuffs. Local visible gold is present in the veinlets. Only a minor portion of the mineralization is associated with sulfides.

Mineralized lenses true thickness on Akasaba may vary from 3m to more than 40m in places where the lenses join each other. Alexandria drill holes intersected 2.06g/t Au over 61.07m, 25m below the old mine, 2.25g/t Au over 17.68m east of the mine, 1.15g/t Au over 42.24m west of the mine, and up to 7.07g/t Au over 7.59m down to 500m below surface. Lenses are still open to the west and at depth.

Cambior and Alexandria drilling campaign also have identified other parallel gold mineralized lenses northern of the main Akasaba deposit which returned up to 1.19g/t Au over 12.72m, 30m below surface and up to 7.07g/t over 7.59m at  500m depth.

Alexandria drilled from 2009 to 2014 on the property to extend the mineralized zones and explored for lateral extensions. The Resources of the main mineralized zone were extended to about 300,000Oz (cf. table for the details).

In 2012 Alexandria identified the “West Zone” located about 1.2km west of the main Akasaba deposit. The West Zone is a disseminated Au-Cu skarn type deposit located in the alteration halo of the buried Kalahan intrusion. The West Zone was sold to Agnico-Eagle for 5M$ + 2% NSR in January 2014. The inferred resources were estimated at 14,863,740 t@ 0.69g/t Au & 0.41% Cu (332,074 Oz Au & 61,255,885 Kg Cu).

Zones Tonnes Grade (g/t Au) Ounces Gold
Underground Indicated 609,300 5.93 116,240
Underground Inferred 1,475,600 5.58 264,960
Main Pit Indicated 3,009,200 1.37 132,550
Satellite Pit Indicated 219,900 1.93 13,640

Recent Exploration Developments on Akasaba

Geophysic surveys:

► An IPower 3D (IP) survey was completed in 2014 by Abitibi Geophysics (78 km of lines covering 744h). It identified 7 anomalous trends over the area, including along strike to the east of the Akasaba Mine. The survey tested areas to the north and east of the Akasaba resource. The anomalies in the east strike of the mine was called the “Kettle Zone”. Among the 7 highlighted anomalies, 5 have geophysical characteristics similar to the Akasaba main deposit (disseminated sulfides mineralizations).

► Hole to hole borehole IP was been conducted on the Akasaba main deposit to help identify targets at depth in 2013. The H2H IP survey identified several chargeable targets both on the North Zone and the main Akasaba zone, as well as several conductive zones. The main targets extend from 100m to 400m along strikes. Some of them are open along strike to the east.  All targets are open at depth.

More specifically, one anomaly along the north zone is of particular interest. It begins at 500m below surface and has been detected down to 800m below surface and over a strike length of 400m. Hole IAX-12-199 was drilled about 50m above the higher chargeability anomaly. It intersected 1.44g/t Au over 44.0m including 2.14g/t Au over 5.0m and 4.69g/t Au over 5.0m.

Furthermore, some zones presented high chargeability anomalies similar to the anomalies intersected by drill holes IAX-11-148 (11.35g/t Au over 6.0m included in 3.88g/t over 20.15m) and IAX-11-155 (5.92g/t Au over 6.30m and 5.07g/t over 3.25m included in 2.85 g/t Au over 20.55m). Those anomalies are located at depth and also to the east of the actual Akasaba gold resources

Drilling campaign: 

During summer 2014, Alexandria conducted a drilling campaign to test 3 different targets on the property: 1) down plunge below the actual resources of the Akasaba Mine area, 2) along strike to the east of the Akasaba Mine (Kettle Zone), and 3) the North Zone, located approximately 100 m north of the Akasaba Mine. All targets consisted of surface and down-hole Induced Polarization (“IP”) anomalies. In the case of the Aksaba Mine area and the North Zone, those anomalies were associated with gold mineralization.

Akasaba Kettle zone:

Drill holes tested a 1,000 m long IP anomaly named “the Kettle Zone”. It is located about 600m east of the Akasaba Mine. The geology encountered is consistent with a Volcanogenic Massive Sulfide (“VMS”) environment: interbedded felsic tuffs and lapilli tuff, chert, black shale, widespread pyrite and pyrrhotite with local sphalerite, and especially a 0.8m massive pyrrhotite intercept. Those units are located along strike of the hanging wall of the Akasaba Mine dacitic dome. Some of the assays included: 0.5g/t Au / 0.7m (CW) in DDH IAX-14-257 and 2.31g/t Au and 0.11% Zn / 1.1m and 0.58g/t Au / 1.1m (CW) in DDH IAX-14-258.

Akasaba North Zone:

Four drill holes were testing the north Zones in this campaign. They intercepted long anomalous gold zones below -500m deep. The geology was composed of the Akasaba usual sequence of mafic lavas and tuffs cross-cutted by gabbro dykes. The North Zone was composed of brecciated basalts with Po-Cpy mineralization. Wide gold mineralization with anomalous copper mineralization was intercepted in the North Zone geophysical targets, including the following:

  • IAX-11-152: 49 g/t Au over 51.0m including 6.28 g/t Au over 1.5m (CW)
  • IAX-10-109: 0.63 g/t Au over 16.7m (CW)
  • IAX-12-207: 0.32 g/t Au over 25.2m (CW)

Akasaba Main Zone:

One hole (IAX-14-261) intercepted the main Zone offside of a high grade gold Zone (see on the longitudinal). The zone was well mineralized and intercepted an average gold grade of 0.66 g/t Au over 7.8m (TW).

The planned holes on the hole to hole anomalies are located at depth of the actual Akasaba gold resources (see on the longitudinal). Those targets can only be drilled during winter time.

Akadaba Central & Kettle Zone