eEnergy Group Regulatory News (EAAS)

5 Jan 2007 13:10

Alexander Mining PLC05 January 2007 Alexander Mining plc 5 January 2007 New Resource Statement for Leon Copper Project • Deposit resource model estimate predicts a total oxide resourcecontaining a 22% increase in contained copper for El Cobre and 16% for El Plomo. New Resource Statement for Leon Copper Project, Salta Province, NW Argentina Following the release in July 2006 of a JORC Code resource statement, preparedby geological consultants A.C.A. Howe International Limited ("Howe"), for the ElCobre and El Plomo deposits at the Leon copper project, north-west Argentina, atHowe's recommendation Alexander Mining plc ("Alexander", "the Company) conductedadditional diamond core drilling at both deposits between July and November2006. This work was designed so that some areas classified as inferred may beupgraded to the indicated category under the JORC Code and further to define andenhance the boundaries of the ore envelopes. Between July and October 2006, atotal of 12 holes for 1,085.69m were drilled at the El Cobre deposit and 51holes for 3,826.17m at the El Plomo deposit. Re-estimation of resources at El Cobre and El Plomo was undertaken by Howe usingthe new drilling data. As a result, the updated resource statement for the ElCobre and El Plomo deposits is as follows: El Cobre Deposit Tonnes, Mt Copper, % Silver, g/t Copper, t Silver, Moz Indicated Oxide Resource 2.25 0.94 20.02 21,080 1.45 Inferred Oxide Resource 0.43 0.69 12.37 2,940 0.17 Total Oxide Resource 2.67 0.90 18.79 24,020 1.62 El Plomo Deposit Tonnes, Mt Copper, % Silver, g/t Copper, t Silver, Moz Indicated Oxide Resource 2.90 0.46 17.63 13,330 1.65 Inferred Oxide Resource 0.86 0.44 15.75 3,750 0.43 Total Oxide Resource 3.76 0.45 17.20 17,080 2.08 Note: Copper grade cut-off of 0.20% used; totals may be subject to roundingerrors. Compared with the statement released in July 2006, the El Cobre deposit resourcemodel estimate predicts a total oxide resource containing 14% more tonnes, 7%higher copper grade and a 22% increase in contained copper. Similarly, at theEl Plomo deposit, the resource model estimates a total oxide resource containing22% more tonnes, 6% lower copper grade and a 16% increase in contained copper. Leon Regional Exploration Programme - Arbol Solo Following the announcement in December 2006 of encouraging initial explorationresults at the Arbol Solo copper property, 23km due south of Leon, as expected,work is temporarily halted because of seasonal rain. An intensive campaign willcommence shortly to follow-up on this exciting new discovery. Qualified person Angus Innes, Alexander's Head of Latin American Exploration, has reviewed andapproved this news release as the Company's qualified person. Angus Innes holds a degree in geology from the University of Witwatersrand inSouth Africa and has over 30 years' experience in exploration and mininggeology. Prior to joining the Company in 2005, he was, for six years, aconsulting geologist to mining companies in South America. He has also workedas Exploration Manager for Billiton in Argentina and Bolivia. Before moving toSouth America, Angus was employed as a Senior Geologist for Gencor in SouthAfrica in the Witwatersrand Sedimentary Basin. He has extensive exploration andmine geology experience in sedimentary hosted and hydrothermal copper depositsin South Africa and Namibia. For further information please contact: Alexander Mining plc Matt Sutcliffe, Chairman and Chief Executive Officer1st Floor, 35 PiccadillyLondon, W1J 0DW Tel: +44 (0) 20 7292 1300Fax: +44 (0) 20 7292 1313Mobile: +44 (0) 7887 930 758Email: mail@alexandermining.comWebsite: www.alexandermining.com Nominated Advisor and BrokerGraham SwindellsArbuthnot Securities LimitedArbuthnot House, 20 Ropemaker StreetLondon, EC2Y 9ARTel: +44 (0) 20 7012 2000 Public/Media RelationsGary MiddletonSt Swithins Public RelationsTel: +44 (0) 20 7929 4391Mobile: +44 (0) 7951 603 289 END This information is provided by RNS The company news service from the London Stock Exchange