Alexander Nubia Announces Results From a Confirmation Surface Sampling Program at its Abu Marawat Project in Egypt
Alexander Nubia Announces Results From a Confirmation Surface Sampling Program at its Abu Marawat Project in Egypt
Toronto, Ontario CANADA, October 25, 2011 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), an exploration and development company with diversified minerals projects in Egypt, is pleased to announce the results of a channel-sampling program along the surface trace of drill holes AAM-003 to AAM-053 to be incorporated in the vein model for calculation of a NI 43-101-compliant inferred resource estimate.
"We are pleased with the results of the program. A strong correlation between anomalous values in the surface sampling and corresponding drill-hole intercepts demonstrates probable vein continuity to surface", said Alexander Massoud, President and CEO of Alexander Nubia Inc. "Further drilling will continue to test upper portions of the veins on other drill sections and will also test major vein zones below the present level of drilling. We look forward to the next set of drill-core assay results".
Highlights of the channel-sampling program include the following:
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Best 2.0 m Best
Drill Hole No. Surface Channel Drill Hole Vein
Sample* Intercept
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AAM-003 11.15 g/T Au 6.1 g/T Au CVZ
42 g/T Ag 195 g/T Ag
0.32% Cu 0.74% Cu
3.27% Zn 12.80% Zn
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AAM-004 1.36 g/T Au 19.65 g/T Au CVZ
19 g/T Ag 331 g/T Ag
0.45% Cu 1.69% Cu
1.55% Zn 15.35% Zn
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AAM-015 1.99 g/T Au 4.2 g/t Au CVZ
3 g/T Ag 70 g/T Ag
0.61% Cu 4.26% Cu
0.11% Zn 13.15% Zn
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AAM-028 4.60 g/T Au 7.98 g/T Au FIN vein
24 g/T Ag 79 g/T Ag
0.21% Cu 0.55% Cu
0.54% Zn 2.20% Zn
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AAM-030 2.30 g/T Au 11.25 g/T Au MID
15 g/T Ag 284 g/T Ag vein
0.27% Cu 1.24% Cu
1.67% Zn 4.27% Zn
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AAM-033 1.49 g/T Au 2.99 g/T Au MID
14 g/T Ag 94 g/T Ag Vein
0.13% Cu 4.20% Cu
1.15 % Zn 1.48 % Zn
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AAM-034 2.89 g/T Au 15.65 g/T Au FIN vein
25 g/T Ag 284 g/T Ag
0.59% Cu 0.85% Cu
1.47% Zn 7.14 % Zn
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AAM-046 10.2 g/T Au 4.17 g/T Au CVZ
77 g/T Ag 91 g/T Ag
0.34% Cu 0.56% Cu
3.097% Zn 4.89 % Zn
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AAM-048 7.89 g/T Au 15.90 g/T Au CVZ
110 g/T Ag 335 g/T Ag
0.30% Cu 0.86% Cu
2.00% Zn 6.31 % Zn
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AAM-053 4.31 g/T Au 15.90 g/T Au CVZ
70 g/T Ag 335 g/T Ag
0.32% Cu 0.86% Cu
4.14% Zn 4.01% Zn
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* Most surface values of Cu and Zn are lower than those at depth because of leaching near the surface during weathering.
Present and Future Programs and Results:
Abu Marawat:
* On-going sampling of zones not previously sampled within diamond drill holes AAM-001 to AAM-058.
* Infill drilling: 3,500 metres have been completed since early September, 2011 to confirm vein continuity in the upper portion of vein structures.
* Assay results are pending from programs of deep-trench channel sampling and near-surface spot sampling in wadi gravel north and east of the vein system.
* A summary report of Stage 1 and partial Stage 2 drilling will be made available as soon as all data are correlated.
Regional Targets:
* Surface sampling and mapping of regional targets is continuing.
To date, the Company has completed 73 diamond drill holes at the Abu Marawat Property for a total of 15,585 metres. Results of these holes will be used to prepare a NI 43-101-compliant inferred resource estimate, by the first half of Q1-2012. A complete set of published assay results and a detailed plan view map are available at www.alexandernubia.com.
Sampling Procedures for Sampling along the Surface Trace of Drill Holes
Channel samples were collected from bedrock by cutting a continuous channel 10 cm wide by 5 to 10 cm deep, with each sample having a maximum length of two metres. Where the trace of the drill hole crosses a historic trench, two additional channel samples were collected, spaced one metre on either side of the drill-hole trace. The lengths of channel samples across the trenches were controlled by lithology and alteration. In the trenches, the two additional parallel channels were extended to include a two-metre shoulder channel sample on either side of the trench. A total of 510 channel samples were collected from the trace of 27 drill holes or combination of drill holes when more than one drill hole was drilled in the same vertical section. Only AAM-008 did not have a surface expression; this hole was drilled in an area of no known surface vein structures; however, the drill hole returned up to 1.08% per cent copper over 5 metres at a pierce point 50 metres below the surface.
Alexander Nubia Mineral Tenements
Of relevance to the Company's current and future exploration programs is the on-going political and socio-economic transformation in Egypt; which has started in the first quarter of 2011. Although the demonstrations were broad-based throughout the country, the majority of the activities have been focused in the major urban centers, especially Cairo and Alexandria.
"Against a backdrop of ongoing political and economic changes in Egypt, we remain focused on achieving a project-first, NI-43-101-compatible resource estimate," said Mr. Massoud. "By leveraging our Egyptian operational expertise and our strong relationships with various stakeholders in the region, we will continue to advance our drill program."
Mitigating the Company's risks and providing security to our efforts are our two concession agreements that were decreed into Egyptian law in 2008. The commercial benefit of a decreed law is that it protects the Company from procedural and/or political influence. In addition, the Egyptian Mineral Resource Authority continues to support the Company's activities. A reflection of this is that it released the requisite amount of the Company's restricted funds based on exploration expenditures shortly after the end of Q2.
Qualifying Person
The technical information in this press release was prepared by Ralph Gonzalez (P. Geo), Project Manager for Alexander Nubia Inc., who manages the exploration program in Egypt. Mr. Gonzalez is a Qualifying Persons under National Instrument 43-101 regulations.
About Alexander Nubia International Inc.
Alexander Nubia International Inc. (TSX-V: AAN) is a Canadian exploration and development Company focused on the exploration of precious and base-metals minerals in the Eastern Desert of Egypt. The Company holds two exploration concessions: Abu Marawat and Fatiri, which cover a combined total area of 2,772.5 km2. The Abu Marawat concession includes the Abu Marawat, Hamama and Semna Projects. Currently, the Company is focused on the exploration of the Abu Marawat project, from which recent drilling carried out by the Company has extended the known extent of precious- and base-metal mineralization and continues to increase the size of the deposit over that reported historically. For more information please visit www.alexandernubia.com.
For more information on Alexander Nubia please contact:
A. Alexander Massoud
President and Chief Executive Officer
Egypt: +2 (0) 22 287 6914
Canada: +1 (877) 607-4747
Email: amassoud@alexandernubia.com
Donald M. Cameron, CA
CFO
Canada: +1 (877) 607-4747
Email: dcameron@alexandernubia.com
Nisha Hasan
TMX Equicom
416-815-0700 ext. 258
Email: nhasan@alexandernubia.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. The securities of Alexander Nubia International, Inc., described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or under any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, or where an exemption from such registration is available. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
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