Alexis defines new zone at Lac Herbin

Sending drill rigs over to a zone it had held only conservative hopes for has paid off for Alexis Minerals (AMC-V).

The Toronto-based company got a healthy lift for its efforts on June 20 gaining 8% or 8 to $1.07 on roughly 1.1 million shares traded, after announcing its latest results from Lac Herbin in Quebec.

Highlights of results from 22 drill holes for 1,950 metres include:

• Hole LH02-173 — 10.87 grams gold over 22.75 metres
• Hole LH02-080 — 35.06 grams gold over 9.2 metres
• Hole LH02-010 — 17.03 grams gold over 9.3 metres
• Hole LH02-010 — 21.85 grams gold over 9.5 metres
• Hole LH02-152 — 8.32 grams gold over 17.1 metres
• Hole LH02-148 — 18 grams gold over 4 metres

Those results are from underground drilling in a zone adjacent to its known S1W and S2 gold structures, with mineralization encountered above 200 metres.

The company describes the zone as a “Flat Swarm” gold system, consisting of a stacked system of multiple, flat-dipping, tensional veins.

Because similar veins had been considered to be weak in mineralization at the adjacent Ferderber and Dumont Mines, Alexis tempered its enthusiasm for the zone and excluded it from prior resource estimates.

With the latest positive results, president and chief executive David Rigg said in a statement that he believes the zone will contribute to overall resources.

Our results continue to support the potential for bulk-mineable gold mineralization adjacent to the known principal resources,” Rigg said.

Flat swarm mineralization which is open in all directions — currently extends over an east-west strike length of 30 metres and a north-south extension of at least 40 metres and contains significant amounts of sulphides and often coarse visible gold, Alexis says.

It plans to test the eastern continuation of the zone next as that is where the highest grades were found.

Alexis holds properties covering the Val-d’Or and Rouyn-Noranda Mining Camps in Quebec.