Alexander Nubia Discovers New Mineralization at its Abu Marawat Project in Egypt
- Identification of a deep zone of high-grade copper mineralization;
- Multiple high-grade gold, silver, copper and zinc intercepts;
- Discovery of significant new mineralized zones;
- Extension of the Valley vein to over 450 metres of strike length;
- A high-grade intersection in AAM-048 near the southern end of the CVZ vein assayed 5.27 grams per tonne of gold and 123 grams per tonne of silver over a 3.9-metre long intersection; and
- Diamond drilling demonstrates vein continuity along
Toronto, Ontario: September 26, 2011 - Alexander Nubia International Inc. (TSX-V: AAN), an exploration and development company with diversified minerals projects in Egypt, today provided an update on the current drilling program at its flagship Abu Marawat property.
"We are encouraged by the recent results," said Alexander Massoud, President and CEO of Alexander Nubia Inc. "The infill drill program at Abu Marawat Property intersected a number of new veins. Preliminary results indicate that these are parallel to the CVZ and FIN veins and are relatively continuous along strike. Additional sampling and assaying of existing drill core is underway to better define the extent of these new areas of mineralization. These recent drill results are an important step in advancing the property, and validate our belief in the potential of the land package controlled by Alexander Nubia. We look forward to the upcoming results at Abu Marawat Property from our Fall/Winter drill program."
Highlights of recent assay results (AAM-038 - AAM-053) are as follows - see Table 1:
* Drill holes AAM-049 and AAM-050 in the CVZ have reported excellent copper grades 250 metres north of the historic resource area and 230 metres below wadi level; this is the deepest mineralization intersected to-date.
* Infill drilling that targeted the CVZ and FIN veins intersected significant new mineralization that appears to have similar continuity to the CVZ and FIN veins.
* A blind vein (MID), between the FIN and CVZ, has core intersections up to 6 metres long and is similar to the FIN vein in that it is characterized by gold-silver-zinc mineralization; grades are in the order of several grams of gold, up to 179 grams of silver, and up to 3 per cent zinc.
* Nine drill holes intersected the Valley vein that has now been tested over a strike length of 450 metres in the northern part of the deposit mostly under wadi gravel. The vein remains open both along strike and down dip.
Table 1: The following table includes significant assay results from holes AAM-038 to AAM-053.
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Hole From To Length* Gold Silver Copper Zinc
(m) (m) (m) (g/t) (g/t) (%) (%)
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AAM - 038 46.3 47.3 1.0 0.20 9.00 1.44 3.05
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AAM - 039 65.7 66.8 1.1 0.06 10.00 2.08 2.25
and 216.4 223.4 7.0 0.50 11.43 0.56 0.87
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AAM - 042 144.0 146.0 2.0 0.23 8.50 1.01 1.52
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AAM - 043 149.0 150.0 1.0 0.06 4.00 0.90 0.36
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AAM - 045 33.9 35.7 1.8 0.07 3.00 0.65 0.01
and 49.5 54.0 4.5 0.07 7.80 1.73 0.01
and 284.6 287.4 2.8 0.78 11.00 0.20 0.85
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AAM - 046 65.9 68.0 2.1 2.40 51.00 0.33 2.76
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AAM - 048 70.7 74.6 3.9 5.27 122.72 0.36 3.02
and 109.8 110.3 0.5 1.06 28.00 0.08 1.865
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AAM - 049 295.8 299.2 3.4 0.89 15.82 1.07 0.83
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AAM - 050 280.3 280.8 0.5 20.60 133.00 1.07 5.04
and 316.4 316.9 0.5 5.66 88.00 0.72 1.26
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AAM - 052 223.7 224.2 0.5 1.50 26.00 1.27 11.85
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AAM - 053 126.4 132.2 5.8 2.62 34.29 0.36 1.68
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* true widths are currently unknown and will vary depending on intersection angle of core with vein(s).
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Present and Future Programs and Results:
Abu Marawat:
* Preliminary results suggest that the principal veins are flanked by lower-grade envelopes, indicating that zones of mineralization are wider than previously reported; a number of unsampled zones within diamond drill holes AAM-001 to AAM-058 have been flagged for additional sampling and assaying.
* Infill drilling: 2,500 metres will be allocated to confirm vein continuity in the upper portion of vein structures.
* Surface sampling: Drilling has outlined veins beneath wadi gravel. Consequently, a 4-5-metre- deep channel sampling program has been initiated at 40-metre centres along section lines. In conjunction with the deep sampling program, a shallower soil sampling program at 10-metre centres is in progress along the same section lines.
* A summary report of Stage 1 and partial Stage 2 drilling will be made available as soon as all data are correlated.
* The intersection of deep mineralization warrants deeper drilling to test the continuity of the Abu Marawat vein system at greater depth.
Regional Targets:
* Surface sampling and mapping of regional targets is continuing.
To date, the Company has completed 62 diamond drill holes at Abu Marawat Property for a total of 12,480 metres. Results of these holes, and those from the current drill program will be used to prepare a NI 43-101-compliant inferred resource; most likely in the first half of Q1-2012. A complete set of published assay results, and detailed plan view map is available at www.alexandernubia.com. Results from Abu Marawat Property will guide the extent of the exploration at other priority targets within the concessions.
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 through the country, the majority of the activities have been focused in the major urban centers, such as Cairo and Alexandria. Favorable to an orderly and relatively peaceful change is the commitment by the military to hold democratic parliamentary and presidential elections, the former of which is expected by the end of 2011.
"Against a backdrop of ongoing political and economic changes in Egypt, we remain focused on achieving a project first NI-43-101 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 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.
Further supporting the Company's initiatives, the Company intends to hold an analyst site visit October 21 - 23, 2011. Interested parties are asked to contact Alexander Nubia's Investor Relations department.
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. The Company is currently focused on the exploration of the Abu Marawat project, from which recent drilling carried out by the Company has confirmed the presence of precious and base-metal mineralization and has greatly increased 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 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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