|By Marketwired .||
|January 24, 2013 03:00 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/24/13 -- Alphamin Resources Corp. (TSX VENTURE:AFM) ("Alphamin" or the "Company") has received all results for its Stage 1 drilling programme on its wholly owned Bisie Tin Project (Bisie Project) in east central Democratic Republic of Congo (DRC). A total of 19 holes, including 1 re-drill, were completed for 2,406m. Drilling has confirmed significant tin mineralisation over a minimum of 250m at Gecomines and 500m at Golgotha target areas.
Drill hole BGC007 drilled between BGC001 (12m @ 3.15% Sn from 53m and 3m @ 6.14% Sn from 80m) and BGC002 (25.85m @ 2.26% Sn from 47.7m) reported 18.5m @ 2.21% Sn from 53m including 2.9m @ 6.27% Sn and 1.1m @ 6.23% Sn from 80m. Drill hole BGC006 drilled 50m south of BGC001 reported 10.3m @ 0.98% Sn from 65.7m including 1.8m @ 3.12% Sn from 65.7m and 6.7m @ 1.11% Sn from 82.3m.
Recent results are shown in Table 1 and all significant intersections are highlighted in Figures 1 and 2 and can be found on the website.
Consistent high grade tin mineralisation has been reported from 5 holes covering a minimum of 250m of strike along the structure. Drilling further confirmed mineralised widths of 15-25m as opposed to the narrow high grade chute (20m x 6m) mined historically by artisanal miners. Mineralisation is exposed at surface along a ridge elevated roughly 200m above the surrounding countryside and highly conducive to open cut mining.
In addition tin mineralisation is often associated with copper mineralisation with a best intercept of 9.4m @ 1.01% copper from 67m from BGC002.
The Company has now planned a 4,000m infill drilling programme over this high grade priority zone. Tin mineralisation will be tested down to a vertical depth of 200m below surface with holes drilled on a 50m x 50m grid pattern. The Company expects to complete the drilling programme with an early indication of the resource potential during the third quarter of 2013.
Results were received from 2 additional holes drilled at Golgotha. The southernmost drill hole, BGH009, reported 14.5m @ 0.64% Sn from 79.5m including 1.5m @ 3.22% Sn from 92.5m confirming mineralisation is open to the south. Drill hole BGH005 (reported previously) was drilled to the north in the Golgotha target area and reported 13m @ 0.7% Sn from 58m including 3m @ 2.06% Sn from 58m. Drilling has confirmed mineralisation is open to the north, south and at depth at Golgotha and continues over a strike length of more than 500m. Grades at Golgotha are generally lower than those reported at Gecomines to the north although a high grade zone of 1.5m-5m has been reported from most drill holes where grades vary from 1.2% - 5.8% Sn.
Significant copper was also intersected at Golgotha with a best intercept of 35m @ 0.77% Cu from 53m including 10m @ 1.67% Cu from 58m in BGH005.
A second zone rich in silver, zinc and lead was intercepted above the tin zone. Reportable grades are shown in Figure 2 and varied between 1.5m @ 57.4 g/t Ag from 144.5m to 19m @ 197ppm Ag from 61m; 12.5m @ 3.14% Zn from 71m to 17.8m @ 14.11% Zn from 61m and 0.5m @ 6.23% Pb from 144.5m to 14.75m @ 10.82% Pb from 61m.
A strong lead and zinc in soil anomaly has been defined over 4km along the ridge. The tin zone has elevated lead and zinc values suggesting tin, silver, zinc and lead mineralisation can be expected over a further 2km to the south.
The Company will commence infill drilling at the Golgotha target area and continue drilling along the structure to the north and south of defined mineralisation to determine the true strike potential and to identify any additional high grade tin target areas along the ridge once the Stage 2 programme has been completed at Gecomines.
Management is extremely pleased with the results of the Stage 1 drilling programme which has confirmed the potential for the Bisie Prospect to host significant tin mineralisation as well as several other commodities including rare earth elements.
Lars Pearl, a qualified person under National Instrument 43-101, has verified technical data disclosed in this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Cosme Maria Beccar Varela, President and CEO
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-looking information. Such forward-looking information includes statements regarding the Company's planned exploration programs. Actual results, performance or achievements of the Company may vary from the results suggested by such forward-looking statements due to known and unknown risks, uncertainties and other factors. Such factors include, among others, that the business of exploration for tin and other precious and base minerals involves a high degree of risk and is highly speculative in nature; few properties that are explored are ultimately developed into producing mines; geological factors; the actual results of current and future exploration; changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents.
There can be no assurance that any mineralisation that is discovered will be proven to be economic, or that future required regulatory licensing or approvals will be obtained. However, the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration activities, the sufficiency of funding, the timely receipt of required approvals, the price of tin and other precious and base metals, that the Company will not be affected by adverse political events, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain further financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information.
Alphamin does not undertake to update any forward-looking information, except as required by applicable laws.
Drilling results are quoted as downhole intersections. True mineralisation width is approximately 80% of intersection length for all holes. The reported grades were determined using a cut-off grade of 0.1% Sn, 25g/t Ag, 1% Zn, 1% Pb and 0.1% Cu to select significant and anomalous intersections, with a maximum of 3m internal dilution being incorporated into the composite where appropriate. A top cut of 60% was applied to Sn, 30% to Zn and 20% to Pb.
Half core samples for all drillholes were submitted to accredited ALS Chemex laboratory in Johannesburg where samples were analyzed using ME-XRF05 conducted on a pressed pellet with 10% precision and an upper limit of 10 000ppm. Over limit samples were sent to Vancouver for ME-XRF10 which uses a Lithium Borate 50:50 flux with an upper detection limit of 60% and precision of 5%. ME-ICP61, HF, HNO3, HCL04 and HCL leach with ICP-AES finish was used for 33 elements including base metals. ME-OG62 a four acid digestion was used on ore grade samples for Pb, Zn, Cu & Ag. Industry accepted QA/QC checks were applied including use of duplicates, blanks and standards.
To view the accompanying table and figures, please visit the following link: http://media3.marketwire.com/docs/124afm1.pdf.
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.
Alphamin Resources Corp.
Level 3, Gotthardstrasse 20, CH-6304
+41 41 711 02 81