|By Marketwired .||
|August 15, 2013 09:52 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/15/13 -- Alpha Minerals Inc. (TSX VENTURE: AMW)(FRANKFURT:E2GA), (the "Company" or "Alpha"), and its 50% Joint Venture partner Fission Uranium Corp. are pleased to announce the discovery of a fourth zone of uranium mineralization and off-scale radioactivity located 165m grid-east of the R780E zone on its Patterson Lake South ("PLS") property in the Athabasca Basin, Saskatchewan. This fourth zone is referred to as the R945E zone. There are now four mineralized zones on strike with each other along a 1.02km trend.
Hole PLS13-084, drilled on section line 945E, has returned 2.7m total composite off-scale (greater than 9999 cps) mineralization, within 18.0m mineralization. The hole is still in progress at a depth of 302.0m and further material information as warranted will be provided as it becomes available.
PLS13-084 Drilling Highlights so far include:
-- 165m grid east step out testing a radon in water anomaly along strike of other zones on the property; -- Moderate to locally strong mineralization present in multiple discrete intervals from 0.5m to 35.5m wide from vertical depth of 104.5m - 255.5m; -- 18.0m wide interval (234.0m - 252.0m) with 2.7m wide total composite off-scale (greater than 9999 cps) mineralization in several discrete intervals including a 1.0m wide interval of continuous off-scale mineralization (247.0m - 248.0m);
The recently released drill hole PLS13-080 which intersected 48.5m of nearly continuous mineralization (see News Release August 12, 2013) was the fourth and by far the strongest drill hole of a four-hole drill fence at the R780E zone. Similarly, the full potential of the mineralization described in this news release will not be fully realized until a complete fence of holes is completed across the radon anomaly at 945E. The significant breadth of mineralization in drill hole PLS13-084 will be aggressively followed up.
The R945E zone discovery was the result of follow-up by drilling of a radon in water anomaly identified during the Phase 2 EIC Radon In Water and Radon in Sediment Survey Program completed during April 2013, by RadonEx Exploration Management. The radon anomaly is the strongest radon in water anomaly to date (see News Release May 6, 2013). This anomaly lies along a ENE trend, parallel to the PL-3B EM conductor.
Hole PLS13-084 was collared as a vertical hole and tested the center of the 945E radon in water anomaly. Moderately anomalous and intermittent radioactivity was encountered from 104.5m to 139.5m in intervals up to 7.0m wide. From 159.5m to 255.5m anomalous radioactivity is more persistent occurring in discrete intervals of moderate to locally strong radioactivity ranging in width from 0.5m to 35.5m. The most robust mineralization is present in a 18.0m interval from 234.0m to 252.0m which is moderately to strongly radioactive throughout including several narrow intervals from 0.1m to 1.0m wide of off-scale (greater than 9999 cps) mineralization totaling a composite of 2.7m. Basement bedrock was encountered at 59.0m below the surface. The upper part of the lithologic sequence (59.0m to 132.4m) is comprised of alternating quartzitic and pelitic gneiss transitioning to a dominantly pelitic gneiss sequence from 132.4m to 221.8m. Below 221.8m the package is comprised of alternating pelitic, semipelitic and quartzitic gneiss. The hole is presently at 302.0m and drilling is still in progress.
Table 1 (results to date)
R945E --------------------------------------------------------------------------- (i) Hand-held Scintillometer Results On Mineralized Drillcore (greater than 300 cps / Collar greater than 0.5M minimum) Devon- Base- -------------- ------------------------------ ian ment Sand- Unconf- Drill- CPS stone ormity hole Grid From To Width Peak From-To Depth Depth Hole ID Line Az Dip (m) (m) (m) Range (m) (m) (m) --------------------------------------------------------------------------- PLS13-084 945E 0 -90 104.5 108.5 4.0 less than N/A 59.0 302.0 300 - 800 119.0 119.5 0.5 360 132.5 139.5 7.0 less than 300 - 1500 159.5 195.0 35.5 less than 300 - 3700 198.0 205.0 7.0 less than 300 - 5100 209.5 222.0 12.5 less than 300 - 4500 225.0 225.5 0.5 750 228.5 229.5 1.0 550 - 880 234.0 252.0 18.0 less than 300 - 9999 255.0 255.5 0.5 650 --------------------------------------------------------------------------- (i) Scintillometer Instrument: GR-110G
The Joint Venture recognizes the radon in water and radon in sediment surveys as an effective tool to help prioritize targets along a prospective trend, but also notes that not all well mineralized holes have a radon anomaly immediately above. Additional drilling will help establish this relationship.
A $6.95M, 44 hole, 11,000m drill program and ground geophysics surveys continues at PLS.
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 drill 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.
Drill 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 ICP-MS 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
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. Alpha returns as the Operator of the Joint Venture in 2014. 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, President, CEO and Director
Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for the video and further updated information.
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.
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.