|By Marketwired .||
|February 7, 2013 11:50 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/07/13 -- Alpha Minerals Inc. (TSX VENTURE:AMW) ("Alpha" or "the Company"), and its Joint Venture partner Fission Energy Corp. are pleased to announce the results of the first two holes of the Winter 2013 exploration program at the Patterson Lake South (PLS) property. Both holes were drilled at a 15m step-out to the west of hole PLS12-024 (12.5m @ 2.49% U3O8: see news release dated Nov. 12, 2012).
-- PLS13-027 - 37.0m continuous mineralization; total intervals greater than 9999 cps - 4.35m -- PLS13-026 - 21.0m continuous mineralization; total intervals greater than 9999 cps - 0.75m
Hole PLS13-027: 37.0m wide interval of well-developed mineralization (60.5 - 97.5m) including intermittent intervals totaling 4.35m of radioactivity greater than 9999cps. PLS13-027 was drilled 15m grid west of hole PLS12-024 and 10m grid south of PLS13-026.
Hole PLS13-026: 21.0m wide interval of strong mineralization (63.0 - 84.0m) including intermittent intervals totaling 0.75m of radioactivity greater than 9999cps. PLS13-026 was drilled 15m grid west of PLS12-024.
The updated location map of these drill holes is to be posted on the Alpha Minerals website.
As was the case with previous drill results from the fall 2012 program (holes PLS12-022, 023, 024 and 025), the mineralization occurs at shallow depth in basement rocks. The strongly radioactive intervals occur within a broader region of moderate radioactivity that extend above the Archean basement into the overlying sandstone and extends downward into the basement.
Key Technical Details:
-- A thin layer of sandstone (possibly Devonian age) is present immediately above the unconformity in both holes. Mineralization extends up into this horizon. -- Both holes are comprised of alternating pelite and graphitic pelite basement lithology with weak to strong clay and chlorite alteration. Narrow pegmatite intrusions are common throughout. Some strongly mineralized zones are characterized with intense hematite and chlorite alteration.
---------------------------------------------------------------------------- (i) Mineralization (greater than 300 cps / 0.5M minimum) ------------------------------------------- From - To Hole ID Grid Line Az Dip (m) Width (m) CPS Max Peak ---------------------------------------------------------------------------- PLS13-026 025W 0 -90 63.0 - 84.0 21.0 306 - greater than 9999 88.5 - 90.0 1.5 320 - 1900 ---------------------------------------------------------------------------- PLS13-027 025W 0 -90 60.5 - 97.5 37.0 180 - greater than 9999 106.0 - 0.5 660 106.5 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Unconformity Hole ID Sandstone From - To (m) Depth (m) Total Depth (m) ---------------------------------------------------------------------------- PLS13-026 59.9 - 63.8 63.8 172.8 ---------------------------------------------------------------------------- PLS13-027 56.39 - 62.30 62.3 255.1 ----------------------------------------------------------------------------
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.
An ongoing field program is in progress. These first two drill holes are part of work focusing on the discovery area with 15 meter step outs to establish the width and strike of the newly discovered zone. A second drill is operating from lake ice and is drilling for possible extensions of the 2012 discovery to the east. The first drill hole on the ice has been completed and is currently being logged.
These first two holes were radiometrically logged using a Mount Sopris 2PGA-1000 Natural Gamma probe, which reached its off scale limits in drill hole PLS 13-027.
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 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt %) 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.
Further updates will be provided.
Patterson Lake South Property
The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Fission Energy Corp. and Alpha Minerals Inc (AMW). Fission is the Operator. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine, (greater than 60M lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km 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 the company by Ben Ainsworth, P.Eng. BC/SK, President and CEO for Alpha, a Qualified Person.
On behalf of the Board of Directors of Alpha Minerals Inc.
Ben Ainsworth, President, CEO and Director
Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for further and 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.
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 release.
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