Alexandria Minerals Corporation (TSX-Venture:AZX) investors had reason to cheer on Tuesday morning, on receiving word of results from six new holes from the winter 2018 diamond drill program from a new gold discovery, the Bulldog Zone, located within the Company’s Val d’Or Project, Quebec.
The Toronto-based junior miner reported Tuesday that the new gold discovery on the Cadillac Break, the Bulldog Zone has been intersected in eight drill holes from 2018 drilling campaign. Alexandria also said the Bulldog Shear Zone has been intersected over a strike length of 500 metres (m) and widths of up to 40 m and to depths of over 300 m
Drill hole OAX-18-245 intersected 10.50 m @ 6.20 grams per tonne (g/t) g/t Gold (Au) including 4.50 m @ 10.87 g/t Au; whereas drill hole OAX-18-254 intersected 10.50 m @ 4.25 g/t Au including 5.20 m @ 7.20 g/t Au; drill hole OAX-18-259 intersected 8.30 m @ 5.15 g/t Au and 3.00 m @ 6.92 g/t Au.
According to CEO Walter Henry, “The company is very pleased to see that the regional exploration program for the West Cadillac Break area has resulted in the discovery of a significant gold zone with the potential to host a gold deposit.”
Shares in AZX rose half a cent, or 16.7%, to 3.5 cents, on volume surpassing 1.2 million shares, and well before noon ET on Tuesday at that!
