Siscoe
East Property
- 88 claims, Val d’Or, Quebec
-Project Summary
The Siscoe East is located along the western flank of the Bourlemaque Batholith, a granitic intrusion in the Val d’Or region associated with several gold deposits. The original Siscoe East claims are situated between the Siscoe and Sullivan Mines and were expanded northwest and east of the core claims over time through property agreements with Virginia Mines and Niogold Mining. Siscoe was the first gold mine in the camp, producing 880,000 ounces of gold at an average grade of 10 g/t gold from 1929 to 1949, while Sullivan produced about 1.2 million ounces averaging 8 g/t gold.
Alexandria has conducted geophysical surveys to bring the Siscoe East property to drill-ready status. A magnetic survey provided assistance with interpretations of geologic structure and rock layering, an Induced Polarization Survey (IP) enabled inferences about conductance and resistance of the rocks, and a seismic survey further pointed to potential fault-vein structures.
The Stabell property includes a historic mine that produced 1,750 ounces of gold from 1935 to 1937 at grades averaging 0.27 oz. gold per ton. The mine was developed to a depth of 312 metres, with drifts and cross-cuts established at five separate levels. Historic reports indicate that the mine contains 48,553 tons grading 0.203 oz. gold per ton. Historic drilling results include 13.7 g/t gold (0.39 oz.) over 1.2 metres and 34.3 g/t gold (1 oz.) over 0.3 metre.
A first-phase drilling program at Siscoe East and Stabell was completed in late 2006. Seven holes totaling 2,545 metres were drilled to test three main targets: the K-Shear Zone (from which ore was mined at the Siscoe mine); the Stabell Mine vein; and the extension of the Sullivan mine vein. All holes intersected their targets and returned anomalous gold values ranging from 0.22 g/t up to 3.13 g/t gold.
In July 2008 Alexandria signed an Option/Earn-In agreement with Niogold to allow Niogold the right to earn 50% interest on all 61 claims of the Siscoe east property (July 2nd, 2008 - Press Release). Niogold can earn the 50% by issuing Alexandria 650,000 shares from their treasury and completing $750,000 of exploration work by June 11th 2010. |
