Globally, Alexandria currently has around 2.1 - 2.2 million gold eq ounces, officially.  This includes around 1.2M gold eq ounces at Akasaba and 150K at Sleepy.  My guess is that they can probably get maybe close to another 100K ounces from Sleepy just from positive drill results that have already been published since the last Sleepy 43-101 update.  That could bring sleepy up to maybe around 250K, just from already published Sleepy drill holes.  It would be good if they can drill off, say, another 100K ounces at Sleepy.  If so, perhaps we can get Sleepy up to the 300 - 400K range.  If the grades remain strong (currently 3.0 g/t Au within 300M of the surface) then perhaps the deposit will be sufficient for toll mining at a local mill or act as another satellite deposit for Akasaba (if Akasaba grows large enough to justify its own in-house milling operation), given that Sleepy is only about 13 km away from Akasaba. 

 

I think we will need more than Sleepy to push us to 3 million ounces though.  I think all it will take is to discover another decent size West Zone type deposit to get to 3 million ounces.  The chances are probably good that we will find another one - maybe within a year.  It sounds like the new targets they are currently kicking are located in places with similar geo evironment as the West Zone and the Main deposit.  I think it`s just a matter of time.  Meanwhile, 2.1 - 2.4 million ounces of eq Au ounces is not bad for a company with such a tiny market cap (in one of the safest jurisdictions on the planet) - something to build on.  Management just needs to find a way to turn this success into bank account value (the only value that matters) for extremely long suffering shareholders to this company.

 

They have updated a number of the maps on the presentation, including:

 

* pg. 8 - shows the potential open pit areas and design width

 

* pg. 9 - looks like the solid green like shows the depth outline of the suggested open pits and the thin dotted line shows the depth used for the recent resource calculation

 

* pg. 10 - they have moved the western target outline up a bit, which is consistent to where we know they are now drill testing targets (especially the targets that are near the historical Callahan intrusive body)

 

* pg. 13 - they have shown the new Sleepy target areas (on the other side of the fault and at depth before the deposit)

 

http://www.azx.ca/ir/presentation.pdf