Alexis Minerals Is Becoming A Major Player In Quebec’s “Hot” Abitibi Belt
Any detailed ‘mining and exploration’ map of Quebec’s “Abitibi Belt” clearly shows a flood of activity in what the Fraser Institute rates as the No. 1 location in the world for mining.
Not only is it rich in raw minerals, but it’s also considered by many companies to be one of the more favourable jurisdictions in the world for developing mines.
Those two ingredients, plenty of reserves plus a supportive government, have resulted in making the Abitibi District of Quebec home to the majority of the world’s most recent discoveries. Furthermore, it’s also one of the two “hot spots” for gold in North America (the other being Nevada-Western Utah), and historically the third richest gold producing region in the world. It’s been the birth place of many current and past major Canadian mining and exploration companies.
A launching pad, so to speak, for companies like Alexis Minerals Corporation of Toronto that is now cutting its teeth by biting into the Quebec landscape.
Alexis Minerals, however, isn’t just nibbling its way into the market but has already taken a 9,706.87 ha bite with its Aurbel-Lac Herbin group of gold properties comprised of 431 claims, four mining leases and one surface lease. Other 100%- owned properties in the Val d’Or Camp cover 11,494 ha., and dominant control of the camp to the east of Val d’Or. As well, the company has a substantial land package covering 80,500 ha of the Rouyn- Noranda Mining camp in a joint venture with Xstrata Copper Canada. These properties give Alexis the dominant land position in the Rouyn-Val d’Or area.
In other words, Alexis Minerals is now a serious player with properties that include the now producing Lac Herbin gold mine, two past mining operations, the Dumont and Ferderber mines where approximately 610,000 ounces of gold were produced; a milling complex, the Aurbel (formerly Belmoral) Mill; and an advanced stage underground project at Lac Pelletier where a bulk sample is now being taken. Their land package also covers the past-producing Horne, Quemont, Amulet, Gallen, Ansil, Newbec, East Waite and Old Waite mines in Rouyn-Noranda and the Manitou Barvue, Louvem and Bevcon mines in Val d’Or.
The Lac Herbin mine makes Alexis Minerals one of the emerging gold producers in the province this year with an annual production target of 36,000 to 40,000 ounces gold. In addition, Lac Pelletier is expecting to produce 9,400 ounces from a bulk sample in 2009, and anticipates 35,000 to 45,000 ounces gold annually from 2010, ramping up gold production for Alexis.
In the five short years since Alexis Minerals first set up camp in Quebec, the company has aggressively focused on exploration and drilling, with an objective of achieving 60,000 m of drilling per year. In 2004, for example, Alexis completed 60,686 metres of drilling, followed by 71,239 m in 2005, 64,916 m in 2006, 75,150 m 2007, and 78,403 m last year. With this kind of determination, it’s no wonder the company has been able to provide results and in fact, just last month the company announced a 156 per cent increase in proven and probable reserves for its Lac Herbin mine. Confirmed by an independent NI 43-101 Technical Report, total proven and probable reserves have been elevated to 617,374 tonnes at 7.36 g/t of gold for a total of 146,007 ounces, up from 239,237 tonnes at 7.40 g/t for 57,128 ounces in 2007.
Resources are contained within six zones located from 30 to 650 m below the surface. Getting to the these zones involved a three-phase program of building a ramp to the 200 m level, lateral development in mineralization, and delineation drilling and bulk sampling of mineralization. A Phase IV program further expanded the inferred resources through delineation drilling down-dip, down-plunge or on-strike of known resource areas. Ramp development was extended to the 250 m level to provide drill access and for additional drifting and raising in ore to confirm ore continuity, distribution of high-grade areas within the deposit and, to confirm the optimal mining approach (long-hole or shrinkage).
A total of 445 m of ramping, 1,180 m of raising and drifting and 8,000 m of diamond drilling were involved in the Phase IV program.
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