Alexander Nubia commences drilling at the Hamama VMS deposit, Egypt.
Alexander Nubia commences drilling at the Hamama VMS deposit, Egypt.
Toronto, Ontario CANADA, October 19, 2012 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), is pleased to announce that diamond drilling has commenced at the Hamama, volcanogenic massive sulphide (VMS) deposit in Egypt. The Main VMS Horizon (which contains the Western VMS Zone) has been traced on surface over 3,000 metre along strike with an extensive mineralized footwall alteration and stringer zone, and stacked VMS lenses beneath the Main VMS Horizon.
The initial 1,000 metre diamond drilling program is intended to test only a portion of the Main VMS Horizon, with a focus on the new discovery, the Western VMS zone, a broad zone of exposed mineralized gossan that has been traced at surface over 1,100 metres along strike. Drilling will initially test the core zone identified by deep trenching, which is 650 metres along strike that averages 54.8 metres wide which at its widest point is 114 metres.
"Exceptional at surface results at the Hamama deposit, in particular the Western VMS zone, give us a high degree of confidence about the potential of this deposit. As an example, deep trench 96, returned 68 metres grading 3.07 g/t gold and 38.1 g/t silver, how this will translate at depth through drilling is an exciting prospect. " said Alexander Massoud, Chief Executive Officer, who commented further, "Three substantial VMS deposits in the Arabian-Nubian shield, Hassai deposit - La Mancha (Sudan), Bisha deposit - Nevsun (Eritrea), and Jabal Sayid deposit - Barrick Gold (Saudi Arabia) have been identified by a gold-silver rich cap. The Western VMS zone will be the first target of this program."
http://www.alexandernubia.com/news/display/59
A number of quality drill targets have been identified within the Main VMS Horizon which contains the Western, Central and Eastern VMS zones. This steeply dipping, overturned exposed mineralized gossan is traceable over 3,000 metres along strike and contains a mineralized footwall stringer zone.
Qualifying Person
The technical information contained in this news release was prepared or reviewed under the direct supervision of Mr. Ralph Gonzalez (P.Geo.), Alexander Nubia Inc.'s Project Manager for exploration in Egypt. Mr. Gonzalez is a qualifying person under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
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 in the Eastern Desert of Egypt. The Company holds two exploration concessions: Abu Marawat (previously held by Centamin: TSX: CEE) and Fatiri, which cover a combined total area of 2,772 km2.
The Company is focused on exploration within the Abu Marawat concession where the Company's two main properties are situated. In this 1,027 km2 historical gold and copper mining district are numerous small workings including, historical small-scale mining at the Abu Marawat Deposit, Hamama - a volcanogenic massive sulphide deposit, and two past-producing gold mines (Semna and Sir Bakis). The principal projects, Abu Marawat and Hamama VMS, are located near excellent regional infrastructure. The projects are 35 kilometres apart and are within 30 kilometres of a highway, railway, and high-capacity electricity grid, and are near major cities: Qena, on the Nile River, and Safaga, on the Red Sea.
For more information on Alexander Nubia please contact:
A. Alexander Massoud
President and Chief Executive Officer
Egypt: +2 (0) 22 287 6914
Email: amassoud@alexandernubia.com
Donald M. Cameron, CA
Chief Financial Officer
Canada: +1 (877) 607-4747
Email: dcameron@alexandernubia.com
Investor Relations
Email: ir@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 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 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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Source: Alexander Nubia International Inc. (TSX.V - AAN) http://www.alexandernubia.com
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