Production & Exploration
The Company holds a dominant property position (+1,104 km2) in three of Canada's richest mining camps: Val-d‟Or and Rouyn-Noranda, in Abitibi District of Québec, historically the 3rd richest gold producing region in the world; and Snow Lake, Manitoba.
Message: Produces Over 6600 Ounces of Gold in First Two Months of 2009
| April 3, 2009 |
| Alexis Produces Over 6600 Ounces of Gold in First Two Months of 2009 |
| TORONTO, ONTARIO--(Marketwire - April 3, 2009) - ALEXIS MINERALS CORPORATION (TSX:AMC) is pleased to advise that the Lac Herbin mine in Val d'Or, Quebec has completed its first milling campaign of 2009, confirming that gold production is on target to meet the annual goal of 40,000 oz. The campaign commenced February 12th and was completed on March 13th after the milling of 27,869 metric tonnes of ore. The ore graded 7.65 gAu/t and 6,692 oz. of fine gold were produced after refining at the Royal Canadian Mint. Mill recoveries were as expected at 97.5%. The overall grade of the ore was higher than the annual budgeted grade of 7.45 g/t. Costs are on target towards the 2009 budget of C$545/oz. These results continue to confirm the good grade and recovery characteristics of the ore from the Lac Herbin gold mine. Mine production is on a continuing basis at the Lac Herbin Mine and ore is shipped approximately 35 km. to the custom milling facility near Malartic, Quebec. Over 16,000 tonnes of ore grading an estimated 6.34 gAu/t have been mined and are currently stockpiled at the mill site and Alexis' mine site in preparation for the second milling campaign scheduled to commence on May 5th, 2009. Higher grade ore is scheduled in the mine plan over the next few months from the S1 and S3 areas. The production results set the course for Alexis' 2009 strategic plans. Cash flow from Lac Herbin's gold production is expected to fund the refurbishing of the Company's wholly owned Aurbel Mill by year end. This will lead to a C$10-15/ tonne reduction in transportation and milling costs in 2010 and an even revenue stream. Cash flow will also fund the company's development work at the Lac Pelletier Project in Rouyn-Noranda as well as the 2009 exploration program. Expanding Lac Herbin Mine Life The Company also advises recent exploration drilling confirms strong potential for increasing resources and further extending the mine life at Lac Herbin. The company is currently active with two underground drills in the mine and three surface drills in areas adjacent to the mine and on the surrounding 100 sq.km Aurbel Property. During Q1-2009, 12,615 m of surface drilling and 10,331 m of underground drilling were completed. Encouraging results were found close to the Lac Herbin mine (250 m to the east), in the Bonanza Zone confirming a connection with Lac Herbin. The Bonanza zone is completely open at depth and for 200 m laterally to the east of the intersections. The intersections open a new area for potential resource expansion at Lac Herbin. Enhancing Regional Production Potential Other regional exploration reveals exciting new prospective gold structures in a broad area west of the Lac Herbin mine for a potential mine extension. Surface drilling, 1 km west of the Lac Herbin mine, had anomalous gold values observed in three different shear zones in an area covering 400 m of strike length, 1000 to 1300 m west of the mine. This confirms a geological context similar to that at Lac Herbin with numerous gold-bearing shear zones of different strikes and dips. Drilling results in the NEF Area, 4 km NE of Lac Herbin, define a different structure than at Lac Herbin, yet with good gold showings. These results generate confidence that more resources will be found in close proximity to the Company's Aurbel Mill, to provide additional ore to supplement the Lac Herbin ore that will feed the mill. Surface winter drilling is continuing in the area west of the mine, in the NEF area and on deeper targets beneath the Dumont Mine. Results will be published on completion of the winter program. Quality Control The technical and scientific content of this press release have been reviewed by Keith Boyle, P.Eng.; Patrick Sevigny, Eng.; and Claude Gobeil, P.Eng.; employees of the Company and Qualified Persons as defined under NI 43-101 guidelines. About Alexis Minerals Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC"). The Company owns one producing gold mine in Val d'Or and the right to earn a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda. Alexis undertakes exploration in the mineral rich Val d'Or (100% ownership of 212 sq.km.) and Rouyn-Noranda Mining Camps (50% ownership of 785 sq.km and in joint venture with Xstrata Copper). There are currently two drills active underground at Lac Herbin and two surface drills active in surface exploration in Val d'Or. Further information about Alexis Minerals can be found at its website: www.alexisminerals.com. |
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