Alexandria Minerals Corp. discovered gold about 60 miles northwest of Montreal at the company's Akasaba gold project in Val d'Or, Quebec, the Toronto-based company said Monday.
The discovery has led the company, which is 10 percent owned by Agnico-Eagle Mines Ltd., to add a second exploratory drilling rig at the site.
These very strong results create a new target area at depth and provide further encouragement about the growth potential on the property, Eric Owens, president, said in a statement.
Alexandria said that, over the past 18 months, with one to two rigs operating, the company has expanded known gold mineralization more than four-fold. The deposit remains open at depth and along strike, and numerous gold targets around the granitic stock are as yet not well-tested.