Jun. 27, 2011 (Filing Services Canada) -- Alexander Nubia International Inc. (AAN - TSX Venture), an exploration and development company with diversified minerals projects in Egypt, today provided an update on a drilling program currently underway at its flagship Abu Marawat property.
"We are very encouraged by our latest drill results," said Alexander Massoud, President and CEO of Alexander Nubia Inc. "Our drill program, which was initiated in January 2011, continues to validate our belief that Egypt's Eastern Desert region is resource rich and whose potential can be unlocked by applying modern mining expertise and practices. We look forward to continuing our drilling program to evaluate the potential of the Abu Marawat project and form a NI43-101 resource estimate. "
Located in Egypt's Eastern Desert, the Abu Marawat concession includes the Abu Marawat Project which covers an area of 1,027.50 km2. Located near significant infrastructure, the project hosts gold, silver, copper and zinc. This well advanced project is also located near three previous operating gold mines. Historic assay results have defined several prospective targets from which the Company has conducted further exploration. Results from an ongoing drilling program have confirmed the presence of base and precious metals mineralization.
Current drill program highlights:
* Drilling traces CVZ over 900 metres for an increase of 660 metres beyond the historic resource calculation by Fluor Daniel, 97,557 oz Au and Ag equivalent, based on a total of 240 metre strike and 70 metres down-dip (below the level of Abu Marawat Wadi);
* AAM-027, intersected CVZ 180 metres below wadi level, and intersected 20 metres carrying 1.4 g/t Au, 32 g/t Ag, 0.3% Cu, and 1.4% Zn;
* Intersected parallel vein system to CVZ, FIN vein ("FIN") immediately west of the mineralized block of the historic resource;
* Parallel Vein Structure: FIN strike extension traced over 600 metres and open for further 150 metres to NW and 200 metres to SE; and
* AAN extends diamond drilling contract for Stage 2 Exploration, for a minimum of 12,000 metres of diamond core drilling.
Assay results are as follows:
Table 1: Preliminary Assay Results - Significant intervals AAM-018 to AAM-025:*
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Hole No. From(m) To(m) Length Au(g/t) Ag(g/t) Cu(%) Zn(%)
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AAM-018 63.7 65.7 2.0 0.1 9 2.30 0.20
100.7 102.7 2.0 0.28 13 2.20 0.40
161.0 171.0 10.0 0.31 9 0.80 0.60 CVZ
Including 161.0 164.0 3.0 0.92 21 1.60 2.00
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AAM-020 193.7 194.7 1.0 2.47 28 0.07 0.13 CVZ
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240.0 243.0 3.0 0.5 18 1.80 0.30
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AAM-022 59.4 62.7 3.3 0.62 12 1.60 0.20
134.7 135.5 0.8 0.04 7 1.10 0.05
216.9 219.9 3.0 0.50 13 0.50 0.10
221.9 222.7 0.8 0.42 21 2.23 0.24 CVZ
229.6 232.6 3.0 0.30 10 1.18 0.10 CVZ
247.3 247.7 0.4 0.11 11 1.55 4.40
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AAM-023 28.8 33.9 5.1 0.08 3 1.27 0.10
193.5 196.5 3.0 1.21 25 1.62 2.12 CVZ
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AAM-025 20.3 26.7 6.4 0.43
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*Pending are final Assay Certificates
The Company has completed its step-out drilling along the northern part of the CVZ and traced the zone for over 900 metres. A total of 23 exploration drill holes were completed along this structure. Drill holes AAM-020 through AAM-026, followed the CVZ beneath the gravel cover of the wadi for a distance of 225 metres. The assay values varied with some intersections high in zinc while others were high in copper and sometimes a mixture of both copper and zinc. Hole AAM-018, the first hole under gravel cover returned 3 metres grading 0.9 g/t Au, 21 g/t Ag, 1.6% Cu, and 2.0% Zn. Hole AAM-20, 50 metres northwest of AAM-018, returned 2.4 metres containing chalcocite with an average grade of 16% copper. Hole AAM-22, 100 metres northwest of AAM-018 returned 3.3 metres with an average grade of 1.6% Cu with little gold and zinc; deeper in the hole, the CVZ envelope over 10.7 metre returned two mineralized zones totaling 3.8 metres (0.8 and 3.0 metres wide) with 2.23% and 1.18% copper, respectively. The CVZ structure in AAM-023, collared 60 metres NW of AAM-022, contained a 3.0 metres wide zone with 1.21 g/t Au, 25 g/t Ag, 1.62% Cu and 2.12% Zn. Hole AAM-025, 125 metres NW of AAM-023 returned a 6.4 metres wide zone grading 0.43% Cu. The general impression is that the CVZ becomes a dominant copper source, near its northern extremity.
Exploration drilling along the FIN has demonstrated the vein's continuity along a strike of over 600 metres lying parallel to the CVZ structured and separated, on the surface, by 75 to 100 metres. The vein remains open along its NW and SE strike directions. A total of twelve holes were drilled along 6 drill sections to test the down dip extent of the surface-exposed vein structure. Generally, two holes were collared, at wadi level, and each of the six drill sites utilizing inclinations of -45 and -60 degrees. These inclined holes penetrated the FIN at depths of 60 to 120 metres below the drill collar. The shallower of the two holes was continued until it penetrated the CVZ structure. These longer holes penetrated the CVZ structure at vertical depths of 200 metres or more below the drill collar.
Drill intercepts indicate the FIN to be half the width of the CVZ structure. The FIN contains twice the grades of gold, silver, and zinc and half the copper grade compared to the CVZ veins. The assay values for the first four of twelve FIN holes have been received and the highlights are shown in Table 2.0. Full set of assay results and detailed plan view map are available at www.alexandernubia.com.
Table 2: Preliminary Assay Results - Significant intervals AAM-027 to AAM-030:*
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Hole No. From(m) To(m) Length Au(g/t) Ag(g/t) Cu(%) Zn(%)
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AAM-027 106.3 109.3 3.0 4.73 88 0.38 3.30 FIN
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237.3 257.3 20.0 1.44 32 0.29 1.37 CVZ
including 240.3 245.3 5.0 4.47 99 0.60 4.07 CVZ
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AAM-028 125.5 129.5 4.0 2.85 36 0.32 1.10 FIN
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AAM-029 93.7 95.7 2.0 2.60 43 0.09 1.00 FIN
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145.7 151.7 6.0 1.97 37 0.19 1.25 CVZ
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AAM-030 198.4 202.4 4.0 4.71 114 0.69 2.72 FIN
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*Pending are final Assay Certificates
Next Steps and Upcoming Results:
* Continued exploration drilling of FIN and other vein systems south of historic resource;
* 5,000 metres of infill drilling of two selected zones each 250 metres in length within the CVZ;
* A summary report of Stage 1 Drilling (7,500 metres) upon receipt of final Assay Certificates.
Within the 900 metre long CVZ structure, the Company has selected two 250 metre long zones that are of significant interest in both width and potential grade to warrant being tested by infill drilling. Over the next two months, AAN is planning a minimum 20 drill-hole campaigns totaling 5,000 metres along previous drill lines with sufficient penetration points to begin calculating an inferred resource.
To facilitate the additional drilling, the Company has just signed a minimum 12,000 metre drill contract with the current operator. The Company has two drill rigs operating on the property in a multi-phase campaign of exploration drilling and resource verification. One drill rig continues to explore vein extensions of the FIN while the other is beginning an infill drilling program along the CVZ structure to build upon the 19,500 metres of historic drilling and a non-NI 43-101 compliant historic resource of 97,557 oz (Au and Au/Ag equivalent). A qualified person has not done sufficient work to classify the historic estimate as current mineral resources. Alexander Nubia Inc. is not treating the historic estimate as current mineral resources and the historic estimate should not be relied upon.
Table 3: Historic estimates of Au and Au/Ag equivalent resource at Abu Marawat
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Company Tonnes Au(oz) Ag(oz) Ag Au
(Au equiv. oz) (equiv. oz)
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Fluor Daniel* 407,808 75,187 934,156 22,367 97,557
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* Based on Fluor Daniel's pre-feasibility study (1995), which indicated a non-compliant NI43-101 geologic indicated and inferred resource grading 5.7 g/t Au and 70 g/t Ag
Sample Preparation and Analysis:
Alexander Nubia Inc. processes its drill core through the crushing and pulverizing stage and ships 200 g pulverized samples to ALS-Chemex Laboratories in Romania for Fire Assaying (one assay ton size samples) for gold and Atomic Absorption analysis for silver, copper, and zinc after agua regia digestion. Prior to any analytical work, ALS-Chemex, re-pulverizes the samples to insure homogeneity. From the pulverized material, ALS-Chemex ships a small sample to its laboratory in Vancouver, C.B., Canada for 33 element ICP-AES after a four-acid digestion.
Alexander Nubia Inc. adheres to a strict Quality Assurance/Quality Control program for its Drill program. The QA/QC program includes a duplicate sample for every 20 samples submitted, plus three Canadian Certified Standards and two blank samples for each batch of samples sent to ALS-Chemex. AAN also prepares sample rejects and pulps for analysis at an outside laboratory for comparative analysis. On average, samples are shipped weekly and generally consist of approximately 200 samples per shipment.
Qualified 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 Qualified 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 in Egypt. The Company holds two exploration concessions: Abu Marawat and Fatiri which covers a combined total area of 2,772.50 km2.The Abu Marawat concession includes the Abu Marawat, Hamama and Semna Projects. The Company is currently focused on the exploration of its 100% owned Abu Marawat project from which recent drilling carried out by the Company has confirmed the presence of precious and base metals mineralization. For more information please visit www.alexandernubia.com.
For more information on Alexander Nubia please contact:
A. Alexander Massoud
President & 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
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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