2012-10-03 00:23:45 -
Toronto, Ontario CANADA, October 02, 2012 /FSC/ - Alexander Nubia International Inc. (AAN - TSX Venture), is pleased to announce the conclusion of its deep trenching programme (26 deep trenches) at its Hamama volcanogenic massive sulphide (VMS) deposit in Egypt. The Main VMS Horizon, containing the Western, Central and Eastern VMS zones has been defined as a steeply dipping, overturned exposed gossan that is traceable over 3,000 metres along strike. Assays from the deep trenching define significant at-surface gold and silver mineralization from both the VMS gossan and footwall stringer zone.
Alexander Nubia will know focus its efforts on the Western VMS zone, a broad zone of exposed gossan that has been traced at surface over 1,100 metres along strike.
The zone has a core 650 metres long that averages 54.8 metres wide with a maximum width of 114 metres.
"We continue to build from one strength to another" said Alexander Massoud, Chief Executive Officer, and commented further, "We have made substantial progress in advancing the Abu Marawat Concession with a maiden resource at the Abu Marawat gold-copper deposit and the discovery of a number of at-surface mineralized zones with encouraging first-stage drill results at the Hamama VMS deposit, a gold-copper/vein porphyry discovery and a number of a high-grade gold assay results from four new prospects near the Abu Marawat deposit. These results are a credit to the technical and operational team who were instrumental in advancing our concessions along the exploration/ development continuum. We are a strong believer that exceptional assets, results and experienced management combined with a clear path to value creation will continue to attract investment interest.
The newly democratically elected government in Egypt has stated foreign investment is a top priority. We are encouraged by recent developments in Egypt that include (September 2012) the negotiations with and ensuing commitment by BP of a $10 Bn investment over 5 years to developing one of the largest gas discoveries in Egypt. We look forward to a focused exploration program that will continue to advance our principal target, the Hamama VMS deposit."
Summary of Deep Trenching (DT) and Shallow Trenching (T) results from the Western VMS Zone
Previously reported: As part of the Main VMS Zone, the Western VMS Zone extends over 1,100 metres along strike. Trenching identified a core zone 650 metre along strike and returned the following assay results:
T-2 62 metres grading 0.42 g/t gold and 10.8 g/t silver
T-3 44 metres grading 0.46 g/t gold and 8.0 g/t silver
T-4 114 metres grading 0.84 g/t gold and 10.1 g/t silver
DT-88 44 metres grading 0.79 g/t gold and 5.9 g/t silver
T-5 8 metres grading 0.46 g/t gold and 40.8 g/t silver
T-6 70 metres grading 0.22 g/t gold and 14.9 g/t silver
T-7 34 metres grading 1.16 g/t gold and 23.2 g/t silver
DT- 87 66 metres grading 1.33 g/t gold and 53.7 g/t silver
DT -86 78 metres grading 1.73 g/t gold and 37.8 g/t silver
including 44 metres grading 2.89 g/t gold and 51 g/t silver
including 36 metres grading 3.29 g/t gold and 58.4 g/t silver
T-9 50 metres grading 2.35 g/t gold and 48.1 g/t silver
DT -85 44 metres grading 1.25 g/t gold and 15.4 g/t silver
T-10 38 metres grading 0.58 g/t gold and 13.8 g/t silver
T-11 88 metres grading 1.82 g/t gold and 31.5 g/t silver
T-12 118 metres grading 1.52 g/t gold and 12.1 g/t silver
DT-96 68 metres grading 3.07 g/t gold and 38.1 g/t silver
including 34 metres grading 4.40 g/t gold and 48.2 g/t silver
T-13 104 metres grading 1.90 g/t gold and 26.6 g/t silver
including 60 metres grading 2.80 g/t gold and 32.6 g/t silver
T-14 40 metres grading 1.74 g/t gold and 15.9 g/t silver
T-15 22 metres grading 1.32 g/t gold and 42.3 g/t silver
Summary of Shallow Trench (ST) and Diamond Drilling (DD-AHA) results from the Central VMS Zone
Previously reported: As part of the Main VMS Zone, the Central VMS Zone is 640 metres along strike and returned the following assay results:
AHA-ST-008 48 metres grading 0.50 g/t gold, 16.4 g/t silver, 0.11% copper, and 2.65% zinc
(renamed to T-208)
AHA-ST-009 46 metres grading 0.78 g/t gold, 14.7 g/t silver, 0.19% copper, and 5.06% zinc
(renamed to T-209)
An initial diamond drilling program focused on the easy to access Central VMS Zone and intersected exhalite mineralization from surface to a depth of 125 metres and remains open in all directions.
DD-AHA-003 at 85 metres returned 15 metres grading 3.03% Zn, 0.24% Cu, 0.22 g/t Au and 24 g/t Ag
DD-AHA-004 at 108 metres returned 14.1 metres grading 6.51% Zn, 0.20% Cu, 0.81 g/t Au and 42.5 g/t Ag
DD-AHA-005 at 160 metres returned 16 metres grading 4.71% Zn, 0.22% Cu, 0.81 g/t Au and 16.2 g/t Ag
Summary of Shallow Trench (ST) results from the Eastern VMS Zone)
Previously report: As part of Main VMS Zone, the Eastern VMS Zone is 500 metres along strike and returned the following assay results:
T-24 28 metres grading 1.14 g/t gold, 19.7 g/t silver, 0.09% copper and 2.11% zinc
And 24 metres grading 1.23 g/t gold, 21.2g/t silver, 0.10% copper and 2.27% zinc
T-25 48 metres grading 0.76 g/t gold, 24.8 g/t silver, 0.14% copper and 3.61% zinc
T-46 78 metres grading 0.26 g/t gold, 9.4 g/t silver, 0.08% copper and 1.37% zinc
Dr. John Payne, VP of Exploration commented, "The gold and silver assay results for the deep trenches combined with our geological interpretation and comparisons with other VMS gossan in the Arabian-Nubian shield, indicate that gold-bearing oxide mineralization could extend to depth. It is important to note that the deep trenches have slightly higher grades than the nearby shallow trenches."
Hamama Deep Trenching Program Highlights:
* As announced in April 23, 2012, surface geological mapping discovered 34 individual VMS lenses in the footwall of the Main VMS Horizon. Some of the lenses are located in a stratigraphic horizon a few hundred metres beneath the Main VMS Horizon. Others are located in the same stratigraphy as the Main VMS Horizon, directly below it possibly acting as feeders to the Main VMS Horizon.
* Including a broad footwall stringer zone, the thickness of the mineralized zone is up to 850 m. Three sub-parallel VMS lenses stratigraphically below the Main VMS Horizon were tested with deep trenching: Deep Trenches (DT-90, DT-91, and DT-92), dug to a depth of 2.0 metres below surface are located 350 to 400 m north of and stratigraphically below the Main VMS Horizon. Trench 90 (DT-90) returned 48 m with 0.32% zinc with a 10 m section returning 1.14% zinc. Trench 91 (DT-91) contained two mineralized zones the narrower zone 6 m wide, returned 0.55% zinc while the wider zone, 34 m wide, returned 0.14% zinc. In the same area trench (DT-92) returned 0.26 g/t gold with trace zinc.
* These results coupled with previously announced results show that the footwall of the Main VMS Horizon contains significant base metals, and the potential for high-grade base-metal zones in the Main VMS Horizon.
* As announced in March 26, 2012, a shallow trenching program (10-15 cm below surface) was conducted in the Western VMS Zone, a gold-silver-rich gossan zone 650 m along strike and averaging 60 m wide that contains relatively uniform mineralization averaging 1.15 g/t gold and 19.4 g/t silver. Initial deep trench results (at least 1 metre below surface) confirmed the results of the shallow trenching. In May 9, 2012, the Western VMS Zone was extended along strike to the west to give a total length of 1,100 m. The western part of the zone is narrower and of lower grade than the core.
* The last two trenches excavated in the Western VMS Zone, DT-96 and DT-97, continue to confirm gold and silver mineralization. DT-96, in the core of the Western VMS Zone, returned 68 metres grading 3.07 g/t gold and 38.1 g/t silver. DT-97, excavated near the eastern end of the Western VMS Zone, returned 14 metres grading 0.57 g/t gold and 4.7 g/t silver. DT-98, excavated in the Central Zone in the immediate footwall of the gossanous VMS horizon, returned anomalous values in zinc over it 50-metre length with 20 metres grading 0.13% zinc.
Table 1: Significant Results from Trenching Program:
Trench Location (Zone) Length Au Ag Cu Zn Rock
No* (m) (g/t) g/t (%) (%) Type**
DT-96 Western 68 3.07 38.1 0.05 0.12 VMS
including * 34 4.40 48.2 0.07 0.12 *
DT-97 Western 14 0.57 4.7 tr tr VMS Gossan
DT-98 Central 50 Tr tr tr 0.09 FW Stringer
including * 20 Tr tr tr 0.13 *
* DT = Deep Trench
** VMS Gossan = refers to gossan derived from both sulphide-rich material and ankerite-rich exhalite that
contains significant oxidized sulphides. FW Stringer = strongly altered and oxidized andesite in
the stratigraphic footwall of the Main VMS zone
tr = trace values
Other VMS deposits in the Arabian-Nubian Shield, (that extends from Egypt to Ethiopia and eastward into Saudi Arabia) that are either in production or at an advanced stage of exploration/development include:
* Barrick Gold Corp. (TSX: ABX) - Jabal Sayid (Saudi Arabia) - previously controlled by Equinox/Citadel Resources - advanced stage of development
* La Mancha Resources Inc. (TSX: LMA) - Hassai deposit (Sudan) - in production
* Nevsun Resources (TSX: NSU) - Bisha deposit (Eritrea) - in production
* Tigray Resources Inc. (TSX.V: TIG) - Harvest deposit (Ethiopia) - advanced stage of exploration
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
Alexander Nubia employs an on-site sample preparation facility where core is diamond sawed into two equal halves; 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. Rock and channel samples are processed similar to drill core samples except the diamond sawing stage is skipped. 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' (generally 20 samples in a batch) is re-analyzed.
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 currently 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 SirBakis). 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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