2012-10-29 19:15:27 -
Alexander Nubia Provides an Updated Interpretation of Drill Core, Confirms VMS Intersection, and Outlines the Status of the Current Drilling Program at the Hamama VMS deposit, Egypt.
Toronto, Ontario CANADA, October 29, 2012 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), is pleased to announce an updated interpretation of diamond drill holes AAH-3, AHA-4, and AHA-5 which were collared in the Central VMS Zone at its Hamama volcanogenic massive sulphide (VMS) deposit in Egypt. The Central VMS Zone is 640 metres along strike and forms part of 3,000 metre Main VMS Horizon.
As previously reported in February 16, 2012, a drill target had been identified by at-surface mineralization, where sampling of oxidized massive sulphide outcrop returned up to
22% zinc in the Central VMS zone. On a cross section oriented at 160 degrees, diamond drilling tested this zone down-dip and returned the following:
AHA-3 starting at 89.0 metres, returned 8.0 metres grading 5.1% zinc, 0.4% copper, 0.3 g/t gold, and 37.5 g/t silver
AHA-4 starting at 108.0 metres, returned 14.1 metres grading 6.5% zinc, 0.20% copper, 0.81 g/t gold and 39.1 g/t silver
AHA-5 starting at 127.0 metres, returned 16.0 metres grading 4.71% zinc, 0.22% copper, 0.81 g/t gold and 33.7 g/t silver
The above stated lengths are not true widths.
The massive sulphide intersection in AHA-5 is 155 metres down-dip from the surface outcrop.
Relogging of drill holes by the company's senior geologists produced an updated interpretation of the section, confirming structurally overturned massive sulphide mineralization at the stratigraphic top of an extensive series of brecciated and silicified felsic domes.
"This geological update is very encouraging as it confirms the presence of high-grade massive sulphide mineralization at Hamama at a shallow depth. This zone and an outcropping gossan in the Western VMS Zone reflect the potential of the deposit and suggest that additional VMS targets exist along the 3,000-metre strike of the exposed Main VMS Horizon. Multiple massive sulphide lenses are common in many VMS environments," stated Alexander Massoud, Chief Executive Officer. "Although the current drilling program is designed to test the down-dip extension of the gold cap in the Western VMS Zone, it will also include deeper drilling in the Central VMS zone beneath and along strike from the known massive sulphide body," added Mr. Massoud.
Update on the Current Drilling Program
At the time of this press release diamond drill holes AHA - 12 to AHA - 19 have been completed with assay results and interpretation pending.
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
Donald M. Cameron, CA
Chief Financial Officer
Canada: +1 (877) 607-4747
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) www.alexandernubia.com
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