The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Filing Services Canada

Alexander Nubia Releases Stage 2 Drilling Results for Hamama VMS, Egypt. Confirms Gold Cap Which Includes Hole AHA-15: 39 metres Grading 2.22 g/t Gold and 102.2 g/t Silver or (AuEq 4.13 g/t)

Tuesday, November 20, 2012

Alexander Nubia Releases Stage 2 Drilling Results for Hamama VMS, Egypt. Confirms Gold Cap Which Includes Hole AHA-15: 39 metres Grading 2.22 g/t Gold and 102.2 g/t Silver or (AuEq 4.13 g/t) 16:31 EST Tuesday, November 20, 2012FSC / Press ReleaseAlexander Nubia Releases Stage 2 Drilling Results for Hamama VMS, Egypt. Confirms Gold Cap Which Includes Hole AHA-15: 39 metres Grading 2.22 g/t Gold and 102.2 g/t Silver or (AuEq 4.13 g/t) Toronto, Ontario CANADA, November 20, 2012 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), is pleased to announce assay results for the initial diamond drill holes AHA-12 to AHA-17 ? part of an expanded 1,500 metre diamond drill program - at the Hamama volcanogenic massive sulphide (VMS) deposit in Egypt. The drill holes were collared in the Western VMS Zone to test at depth an extensive mineralized gossan that has, by detailed geologic mapping, been traced over 1,300 metres along strike. Only 230 metres of the available strike length have been tested by drilling to date; the current drilling continues to step-out to the west of AHA-17. The Western VMS Zone forms part of the 3,000-metre-long Main VMS Horizon at Hamama, which remains open to the east and west. New drilling and exploration highlights include: * Drilling confirms a gold cap within the oxidized zone* High-grade zinc, silver and gold values in the oxidized zone: AHA-15 returned 7m grading 4.9% zinc, 1.58g/t Au, and 125g/t Ag * Detailed geological mapping confirms greater continuity between the Western, Central and Eastern Zones, which collectively form the 3,000 metre long striking Main VMS Horizon * Drilling in the Western Zone (please see Figure 1.4) confirm that the mineralized unit is structurally overturned and dips north between -50 to -70 degrees, a similar orientation to that of the section containing AHA-3, -4 and -5 in the Central VMS zone as shown in Figure 1.3* Additional drill results are pendingChief Executive Officer, Alexander Massoud commented, ?We are very pleased with the initial drill results of the Western VMS Zone; they demonstrate that the enriched gold zone recently identified by trenching extends to depth and verify that this mineralized unit is part of a gold cap. We are especially pleased by the high silver and zinc values in the gold cap, which is another excellent vector that indicates Hamama is indeed a major VMS system,? He further stated, ?Hamama is similar to other well-known VMS deposits in the Arabian-Nubian shield, Hassai VMS (La Mancha), Bisha VMS (Nevsun) and Jabal Sayid VMS (Barrick Gold), which have a gold cap within the oxidized zone that grades into a zone of base-metal-rich, semi-massive to massive sulphide at depth. A number of diamond drill holes in the current drilling program have been drilled as fences of deeper holes, which are intended to test below the oxidized zone for the presence of semi-massive to massive sulphides.?Table 1: Significant Composite Assays in the Western VMS Zone, Hamama VMS-***---------------------------------------------- Hole From To Width[**] Au Ag No.[*] (m) (m) (m) (g/t) (g/t) ------------------------------------------------------------------------------------------ AHA-12 15 29 14 1.11 18.9 --------------------------------------------- including 21 26 5 1.26 23.2 ------------------------------------------------------------------------------------------ AHA-13 3 16.4 13.4 1.00 29.9 --------------------------------------------- including 3 8 5 1.41 44.8 ------------------------------------------------------------------------------------------ AHA-15 0 39 39 2.22 102.2 --------------------------------------------- including 8 20 12 3.76 198.5 --------------------------------------------- including 23 37 14 1.71 101.1 --------------------------------------------- high-grade Zn 25 32 7 1.58 125 --------------------------------------------- including 25 29 4 1.54 154.8 ------------------------------------------------------------------------------------------ AHA-16 3 44 41 0.59 69.7 --------------------------------------------- including 7 15 8 0.54 226.6 --------------------------------------------- including 27 38 11 1.24 38.1 ------------------------------------------------------------------------------------------ AHA-17 8 33 25 1.2 31.5 --------------------------------------------- including 8 22 14 1.69 22.6 ----------------------------------------------------------------------------------------------- Hole No.[*] AuEq[***] Cu Zn Oxide Zone (g/t) (%) (%) (Ox) / Sulphide (Sul) ---------------------------------------------------------------------------------------------------- AHA-12 1.46 0.01 0.08 Ox Western -------------------------------------------------- including 1.69 0.02 0.09 Ox ---------------------------------------------------------------------------------------------------- AHA-13 1.56 0.02 0.09 Ox Western -------------------------------------------------- including 2.25 0.02 0.09 Ox ---------------------------------------------------------------------------------------------------- AHA-15 4.13 0.06 1.64 Ox Western -------------------------------------------------- including 7.47 0.13 1.63 Ox -------------------------------------------------- including 3.60 0.05 3.02 Ox -------------------------------------------------- high-grade Zn 3.91 0.08 4.9 Ox -------------------------------------------------- including 4.43 0.1 6.03 Ox ---------------------------------------------------------------------------------------------------- AHA-16 1.89 0.02 0.34 Ox Western -------------------------------------------------- including 4.77 0.01 0.25 Ox -------------------------------------------------- including 1.95 0.02 0.27 Ox ---------------------------------------------------------------------------------------------------- AHA-17 1.79 0.04 0.7 Ox Western -------------------------------------------------- including 2.11 0.04 0.45 Ox ---------------------------------------------------****-* All drill holes were collared at an azimuth of 180? and a inclination of -45?, no significant value: AHA-14** Given the orientation of the mineralized unit relative to the drill holes, the reported intervals are 5-10% less than true widths.*** AuEq calculated using the 12 month trailing average for Au and Ag through 12-10-05, (US$1664/oz Au and US$31.1/oz Ag). Using ratio of US$Au:US$Ag (53.54), assuming 100% recovery and no NSR the AuEq formula is: AuEq = Au g/t + (Ag g/t / 53.54).Upcoming Drill Results Western VMS Zone (Pending Results)* AHA-18, -19 and -21 are collared west of AHA-17 at 25-metre intervals. These drill holes are intended to test the continuity of the gold cap along strike and visual estimates in the drill core will be used to choose the location of deeper drill holes on some of the cross sections to test below the oxidized zone. Central VMS Zone (Pending Results)* AHA-20 collared 25 metres north of AHA-5, is intended to test for the presence of and continuity of massive sulphide mineralization at depth. Additional drill results are pending.Drilling SummaryBased on Figure 1.1, trenching and mapping identified a gold-rich oxidized zone at surface which is 650 metres along strike that averages 54.8 metres wide and at its widest point is 114.0 metres. The drill results confirm the downward extension of the mineralization encountered in trenches on the sections drilled. Shallower holes are mainly in oxidized massive sulphide with scattered zones of altered and brecciated footwall felsic dome. Deeper holes are collared in felsic rocks that become strongly altered and brecciated deeper in the holes; towards the top of the stratigraphic section, these zones grade into semi-massive sulphide that lies stratigraphically beneath barren hanging wall intermediate tuff and argillite. Grades in some intersections in the strongly altered and brecciated footwall felsic dome are highly anomalous (Note especially the silver content in AHA-016).Figure 1.1: Plan view map of the Main VMS Horizon, Hamama VMS DepositTo view graphic figure 1.1: please click on the following link:http://www.usetdas.com/pr/alexandernubia11202012-1.jpgFigure 1.4: Cross section of drill holes AHA-15 and 16 To view graphic Figure1.4: please click on the following link:http://www.usetdas.com/pr/alexandernubia11202012-2.jpgQualifying PersonThe 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?).Alexander Nubia employs an on-site sample preparation facility where core is diamond sawed into two equal halves; and one half of the core is returned to its core box for permanent, on-site storage and the other half, weighing approximately 2 kilograms, is crushed to minus 5 mm and riffle split to 500 g. The 500 g sample is pulverized to a nominal -75 mesh and divided into two halves. One half is delivered to the Egyptian Mineral Resource Authority for storage and the other half is shipped for analysis to the ALS Minerals laboratory in Romania. ALS Minerals is an internationally recognized and accredited analytical facility. ALS re-pulverizes all samples to insure the samples are homogenized and removes a one-assay/ton cut (approximately 30 grams) for gold analysis followed by an atomic absorption finish using industry-accepted fire-assaying techniques. In addition, a 5-10 g sample is removed for Ag-Cu-Zn analysis by atomic absorption after digestion in aqua regia. Over-range copper (>10,000 ppm), zinc (>10,000 ppm) and silver (>100 ppm) are re-analyzed using readjusted atomic absorption spectrometry (AAS) techniques. Selected samples are determined by inductively coupled plasma spectrometry - atomic emission spectroscopy (ICP-AES) after a four acid digestion for 'near total' digestion. This technique scans a total of 33 elements.??A quality control program consisting of blanks and analytical control standards has been implemented to monitor laboratory performance; this is in addition to ALS's internal QA/QC program. Discrepancies have been few, and when discovered, the 'laboratory batch' (usually 20 samples in a batch) is re-analyzed.About Alexander Nubia International Inc.Alexander Nubia International Inc. is an established Canadian mineral exploration company committed to identifying, focusing on, and advancing gold and base-metal projects in the Eastern Desert of Egypt. The Company holds two exploration concessions in Egypt: Abu Marawat and Fatiri, which cover areas of 1,027 km2 and 1,745 km2, respectively. The Company is focused on exploration within the Abu Marawat Concession, which contains the Company's two main properties, the Abu Marawat mesothermal vein deposit, with an NI 43-101-compliant inferred gold-copper-rich resource, and the Hamama volcanogenic massive sulphide (VMS) deposit. Operating in Egypt since 2007, the Company is focused on the advancement of the Hamama VMS deposit - located in the Arabian-Nubian Shield (ANS), which is known for the quality of its VMS deposits. Hamama is characterized by excellent first-stage drill results that intersected high-grade semi-massive and massive sulphide mineralization, a broad zone of VMS gossan at-surface containing high-grade gold and silver, and an extensive mineralized footwall stringer and breccia zone. The Company holds a highly prospective land package with an established history of mining dating back to the Pharaonic era; it contains three historical gold mines and four prospects, the package is enhanced by excellent and nearby infrastructure which includes access to highway and railway, a high?capacity electricity grid, and nearby major cities: Qena, on the Nile River, and Port of 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.comInvestor Relations Canada: +1 (877) 607-4747 Email: ir@alexandernubia.comCautionary Note Regarding Forward-Looking StatementsNeither 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.To view this press release as a webpage, please click on the following link:http://www.fcwire.com/pr/alexandernubia11202012.htmSource: Alexander Nubia International Inc. (TSX.V - AAN) http://www.alexandernubia.com Maximum News Dissemination by FSCwire. http://www.fscwire.com