The company has now completed its 30,000m drill programme at Orenada, and the lab has started to deliver some promising gold assays from shallow depths.
In terms of continuity, a 77.35m interval averaging 2.06g/t from 143m depth stood out, but Alexandria also hit 30.05m at 4.62g/t from 110m depth and 25.6m at 3.41g/t from 69m depth. The latter confirmed the presence of gold at shallower depths than the previous 2009 resource estimate.
Eric Owens, CEO of Alexandria, said the shallow occurrence of "multiple, flat, high-grade gold veins together with their intervening, gold-bearing wallrock make a great bulk-tonnage target".
Owens was expecting further strong assays in the coming weeks and months, with results pending for another 80 holes.
A 2009 NI 43-101 study on Orenada estimated 361,395 ounces of gold averaging 1.21-1.44g/t in the measured and indicated categories and 175,596oz of gold averaging 1.16g/t in the inferred category.
