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Alexandria Gold Corp. (TSXV:AZX) announced an updated NI 43-101 resource estimate for its Quebec-based Sleepy property, commenting that it points to an inferred resource of 307,350 ounces of gold at a cut off of 3 grams per tonne.
Alexandria Gold Corp. (TSXV:AZX) announced an updated NI 43-101 resource estimate for its Quebec-based Sleepy property, commenting that it points to an inferred resource of 307,350 ounces of gold at a cut off of 3 grams per tonne. That’s double the amount reported in a 2009 resource estimate.
Other highlights for the uncapped resources include:
- 60% increase of the average resource grade, to 5.1 g/t Au (from 3.0 g/t Au in 2009), with a concomitant increase in cut-off grade, to 3.0 g/t Au (from 2.0 g/t Au in 2009)
- Gold ounces increase by greater than 100% to 307,350 ounces, from 152,000 ounces previously, with an average width of 4.1 m, and widths up to 15.2 m
- Disseminated Au-pyrite resource, with 68% of intersections grading more than 3 g/t Au over the width of the zone
- At a higher cut-off grade of 5.0 g/t, the resource contains 161,410 ounces of gold grading 6.3 g/t
Eric Owens, president and CEO of Alexandria, commented:
This is a great step forward in the Sleepy story, as the size of the resource has doubled and the grade has increased by 60%. The project is now approximately the size and grade of average historical mines in Val d’Or, and we believe that it is an opportune time for Sleepy to capitalize on the Val d’Or area infrastructure.
Click here to read the full Alexandria Gold Corp. (TSXV:AZX) press release.