New exploration results from a mineral deposit outside Flin Flon spell positive news, a junior miner said Wednesday.
Alexandria Minerals Corp. said it has completed a new guideline-compliant resource estimate at its Hudvam copper-gold-zinc-silver project.
In the “indicated” resources category, the company said tonnage is up 10 per cent and metal content is up five per cent over a resource estimate released
in 2008.
Indicated resources now show 930,400 tonnes grading 1.17 per cent copper, 1.71 per cent zinc, 3.62 grams per tonne (g/t) gold and 13.23 g/t silver, Alexandria said.
In the less reliable “inferred” category, tonnage and metal content are up 18 and 15 per cent respectively over 2008 estimates. That translates into 612,000 tonnes grading 0.77 per cent copper, 1.26 per cent zinc, 2.89 g/t gold and 6.55 g/t silver, according to the company.
The indicated and inferred gold grades place Hudvam into “a class of notable, and large, gold-rich” volcanogenic massive sulphide (VMS) deposits characteristic of Flin Flon-Snow Lake and other mining districts, Alexandria said.
“These results continue our resource growth,” Eric Owens, president and CEO of the Toronto-based Alexandria, said in a news release.
Alexandria said Hudvam remains open at depth and along strike with a number of untested geophysical anomalies it believes warrant drill testing
Alexandria obtained the Hudvam deposit, located about 70 km northeast of Flin Flon, in March when it acquired junior miner Murgor Resources. The deal also included the WIM property about 20 km north of Snow Lake.
In May, Alexandria announced updated resources for WIM that showed a 64 and 40 per cent increase in the tonnage, respectively, in inferred and indicated resources.
Editor’s note: Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by Alexandria.
