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: Click Here
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.
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).
Historical Exploration Top
1940's - 1980's
Exploration work at Akasaba has been ongoing on and off since the early 1940's. In 1959, Akasaba Gold Mines completed a reserve calculation outlining 19,131 tonnes grading 5.76 g/t Au. Akasaba Gold Mines began underground development and stope construction shortly thereafter. After acquiring Akasaba Gold Mines in 1962, Falconbridge Nickel Mines continued underground development and in 1963 produced 262,568 tonnes of ore grading 5.14 g/t Au and 1.7 g/t Ag from the southernmost A Lens. With a recovery rate of 91.4%, a total of 39,744 ounces of gold and 12,746 ounces of silver were produced from the shallow, 90 m deep stope. Exploration activities were limited until 1982 when Souvern completed a reserve calculation estimating an additional 376,770 tonnes grading 5.2 g/t Au remained in the mine area. Little work was then conducted on the property until Alexandria began drilling in 2009.
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
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.