Anniversary Discovery Repeat-Alpha Minerals JV Reports New Uranium Strike on Land, Located 525m West of Discovery Zone R00E, ...
04 11월 2013 - 4:45PM
Marketwired Canada
Alpha Minerals Inc. (TSX VENTURE:AMW)(FRANKFURT:E2GA), (the "Company" or
"Alpha"), and its 50% Joint Venture partner Fission Uranium Corp are pleased to
report a new uranium strike on land, completed almost a year after the day of
the announcement of date of the first land based discovery at Patterson Lake
South in 2012. This drill hole follows two earlier holes completed on line 600W
at the PLS property in the Athabasca Basin, Saskatchewan. Of note is hole
PLS13-118, which intersected 20.0m total composite mineralization 525m grid west
of the initial discovery zone R00E. This discovery hole is considered a
substantial achievement and a high priority for follow up. Additional drilling,
part of the ongoing $9.2M, 49 hole, 14,700m drilling and ground geophysics
survey program will therefore focus on this new zone.
Drilling Highlights include:
-- Discovery hole on line 600W located 525m west of the R00E zone
-- PLS13-118 intersected 20.0m of mineralization within a 25.0m section
(174.5m to 199.5m), and weaker mineralization from 222.0m to 223.0m and
254.5m to 255.0m
-- The discovery on line 600W is on a 1755m trend with all five high-grade
zones to the east (R00E, R390E, R585E, R780E, R945E), and with
mineralization encountered on Line 1155E
Drill holes PLS13-116 and PLS13-118 were drilled on line 600W targeting a subtle
radon in soil gas anomaly identified north of the PL-3B EM Conductor between
lines 540W to 630W that may be associated with inferred north-south cross
cutting structures (see news release Oct 7, 2013). The radon in soil gas survey
was conducted by RadonEx Exploration Management of Montreal.
Line 600W:
The discovery hole on line 600W was the result of follow-up by drilling of a
radon in soil gas anomaly identified during the summer program. The radon
anomaly is located between lines 540W and 630W and may be associated with
inferred north-south cross cutting structures interpreted from the DC
resistivity survey. This anomaly lies along an ENE trend, parallel and just
north of the PL-3B EM conductor.
Hole PLS13-116 (line 600W) was collared as an angled hole at an azimuth of 336
degrees and a dip of -74 degrees, and was completed to a depth of 323.0m. A
narrow interval of weakly anomalous radioactivity was intersected from 143.0m to
144.0m within chlorite altered semipelitic gneiss. Basement bedrock was
encountered at a down hole depth of 106.4m, or 102.3m vertically below the
surface. The basement lithology is comprised predominantly of semipelitic gneiss
with alternating narrow sequences of pelitic gneiss. Interpretation suggested
that the stratigraphic sequence encountered was north of the desired graphitic
and pyritic pelitic corridor, which is associated with high-grade mineralization
further to the ENE.
Hole PLS13-118 (line 600W) was collared as a vertical hole and completed to a
depth of 314.0m. The hole was drilled from the same collar location as hole
PLS13-116. Basement was encountered at a depth of 97.2m, which is substantially
higher than in hole PLS13-116 (102.3m), suggesting a reverse fault off-set
between the holes. Mineralization encountered in PLS13-118 is approximately 50m
south of the mineralization intersected in PLS13-116. A total composite of 20.0m
of mineralization within 3 discrete intervals of moderate radioactive
mineralization was intersected from 174.5m to 199.5m, in interval widths ranging
from 3.0m to 9.0m. Visible pitchblende was observed as flecks, blebs, and redox
interface fronts that correlated with the strongest radioactivity. Weaker
radioactive mineralization was encountered from 222.0 to 223.0m and 254.5m to
255.0m. The upper part of the lithologic sequence (97.2m to 154.5m) is comprised
of a quartzitic gneiss. From 154.5m to 297.9m a graphitic pyritic pelitic gneiss
dominates, transitioning to a semipelitic gneiss from 297.9m to the end of hole
depth of 314.0m. A diabase dyke is present from 287.3m to 294.5m. Local narrow
intervals (2.1m to 3.6m wide) of moderate to steeply dipping mylonites and
cataclasites are present between 166.6m to 265.9m. Evidence that prolonged and
high volumes of uraniferous hydrothermal fluids have swept through this section
of the PL-3B EM conductor corridor is indicated by the presence of dark smokey
quartz, and abundant light green sudoite (Mg-chlorite). Moderate clay alteration
(locally hematitic) is present throughout from 154.0m to 212.0m.
Line 600W
----------------------------------------------------------------------------
(i) Hand-held
Scintillometer Results On
Mineralized Drillcore Base-
(greater than 300 cps / ment Total
greater than 0.5M Devonian Uncon- Drill-
Collar minimum) Sandstone formity hole
-----------------------------------------------------------------
CPS
Grid From To Width Peak From - To Depth Depth
Hole ID Line Az Dip (m) (m) (m) Range (m) (m) (m)
----------------------------------------------------------------------------
300 - No
PLS13-116 600W 336 -74 143 144 1.0 310 Sandstone 106.4 323.0
----------------------------------------------------------------------------
less
than
300 - No
PLS13-118 600W 007 -88 174.5 183.5 9.0 680 Sandstone 97.2 314.0
less
than
300 -
186.0 189.0 3.0 750
314 -
191.5 199.5 8.0 5500
650 -
222.0 223.0 1.0 880
254.5 255.0 0.5 380
----------------------------------------------------------------------------
(i)Scintillometer Instrument: Exploranium GR-110G
The Company corrects an error from its news release reported on October 29, 2013
changing the high-grade intersection for drill hole PLS13-079 from 5.5m (91.5m -
97.0m) to 5.0m (92.0m - 97.0m). The grade remains the same at 19.51% U3O8 for
this intersection.
Natural gamma radiation in drill core that is reported in this news release was
measured in counts per second (cps) using a hand held Exploranium GR-110G total
count gamma-ray scintillometer. The reader is cautioned that scintillometer
readings are not directly or uniformly related to uranium grades of the rock
sample measured, and should be used only as a preliminary indication of the
presence of radioactive materials. The degree of radioactivity within the
mineralized intervals is highly variable and associated with visible pitchblende
mineralization. All intersections are down-hole, core interval measurements and
true thickness is yet to be determined.
All holes are planned to be radiometrically surveyed using a Mount Sopris
2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in
high grade mineralized zones. The Triple Gamma probe is preferred in zones of
high grade mineralization.
Split core samples from the mineralized section of core will be taken
continuously through the mineralized intervals and submitted to SRC
Geoanalytical Laboratories (an SCC ISO/IEC ICP 17025: 2005 Accredited Facility)
of Saskatoon for analysis, which includes U3O8 by MS-ICP and fire assay for
gold. All samples sent for analysis will include a 63 element ICP-OES, uranium
by fluorimetry and boron. Assay results will be released when received.
For additional comments about the Summer 2013 Program, please watch a corporate
video at the Alpha Minerals website:
http://www.alphaminerals.ca/corporate-videos/
Patterson Lake South Property
The 31,000 hectare (76,000 acres) PLS project is a 50%/50% Joint Venture held by
Alpha Minerals Inc (AMW) and Fission Uranium (FCU). The Joint Venture property
is 100% owned with no underlying royalties or vendor payments. For the present
work, the exploration is still being operated as a Joint Venture under the
direction of the Joint Venture Management Committee with Fission Uranium
currently acting as the operator. Drilling on Land WSW of Discovery Zone R00E
continues: Additional funding, designed to extend the land based drilling
programme beyond the original budget limits, is showing encouraging initial
results, following the closure of the barge based drilling programme.
The property is accessible by road with primary access from all-weather Highway
955, which runs 74km north to the former Cluff Lake mine, (greater than 60M lbs
of U3O8 produced from multiple open pit and underground mines), and passes
through the claims covering the UEX-Areva Shea Creek discoveries located 58km to
the north, currently under active exploration and development.
The technical information in this news release has been prepared in accordance
with the Canadian regulatory requirements set out in National Instrument 43- 101
and reviewed on behalf of Alpha Minerals Inc, by Garrett Ainsworth, P.Geo., Vice
President Exploration, a qualified person.
On behalf of the Board of Directors of Alpha Minerals Inc.
Ben Ainsworth, PEng BC/SK, President, CEO and Director
Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for the
video and further updated information.
This press release contains "forward-looking information" that is based on
Alpha's current expectations, estimates, forecasts and projections. This
forward-looking information includes, among other things, statements with
respect to Alpha's development plans. The words "will", "anticipated", "plans"
or other similar words and phrases are intended to identify forward-looking
information.
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause Alpha's actual results, level of activity,
performance or achievements to be materially different from those expressed or
implied by such forward-looking information. Such factors include, but are not
limited to: uncertainties related exploration and development; the ability to
raise sufficient capital to fund exploration and development; changes in
economic conditions or financial markets; increases in input costs; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological or operational difficulties or inability
to obtain permits encountered in connection with exploration activities; and
labour relations matters. This list is not exhaustive of the factors that may
affect our forward-looking information. These and other factors should be
considered carefully and readers should not place undue reliance on such
forward-looking information. Alpha disclaims any intention or obligation to
update or revise forward-looking information, whether as a result of new
information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
For corporate communications please contact:
Alpha Minerals Inc.
Robert (Bob) Meister
(604) 629-0293 or Toll Free: 1-866-629-0293
(604) 684-9365 (FAX)
info@alphaminerals.ca
www.alphaminerals.ca
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