Alpha Minerals JV Hits Highest Grade Thickness to Date With 54.5m of 9.08% U3O8, at Patterson Lake South, Athabasca Basin
September 04, 2013 (Source: Marketwire) — 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 assay results from hole PLS13-075 drilled on line 330E within the Western region of R390E zone, at their Patterson Lake South (PLS) property, Saskatchewan. The main zone of mineralization returned an interval of 9.08% U3O8 over 54.5m, including a higher grade core of 21.76% U3O8 over 21.5m. With an overall Grade x Thickness (GT) value of 494.86 for the larger interval, this is now the best mineralized hole to date at PLS. PLS13-075 is located 30m grid west of hole PLS13-061 (23.5m @ 1.39% U3O8…see news release dated June 5, 2013). Further drilling has been planned by the JV Management Committee for the R390E zone in 2013 which includes the largest of the lake water radon anomalies defined in the winter work carried out by Radonex in the winter program of 2013.
- 54.5m @ 9.08% U3O8 (61.0m – 115.5m) with GT 494.86, including:
- 21.5m @21.76% U3O8 (68.5m – 90.0m) with GT 467.84
- Highest assay in the interval: 52.2% U3O8 over 0.5m (74.0m – 74.5m)
- Intermittent narrower zones of weaker mineralization, from 0.5m to 11.5m wide each, are present from 118.0m to 177.5m
Composited U3O8 mineralized intervals are summarized in Table 1 below. Samples from the drill core are split in half on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to the laboratory for analysis and the other half remains on site for reference. All depth measurements reported, including sample and interval widths are down-hole, core interval measurements and true thickness are yet to be determined.
|Zone||Hole ID||Grid Line||From (m)||To (m)||Interval (m)||U3O8 (wt%)|
|1. Minimum Thickness: 0.50m|
|2. Grade Cut-Off: 0.05 U3O8 (wt%)|
|3. Maximum Internal Dilution: 2.00m|
Drill hole PLS13-075 was collared as a vertical hole and was completed to a depth of 248.0m. Mineralized zones as defined by assays greater than 0.05% U3O8 and over 0.5m are present in discrete intervals over a 120.0m wide section (57.5m – 177.5m), with each ranging in width from 0.5m to 54.5m. The main mineralized horizon was encountered from 61.0m – 115.5m and returned a composited interval of 9.08% U3O8 over 54.5m, including a high-grade core from 68.5m – 90.0m that returned 21.76% U3O8 over 21.5m and is associated with strongly hydrothermally altered gneiss. Several additional narrow intervals of generally weaker mineralization were present from 118.0m to 177.5m (see Table 1). A thin cap of Devonian sandstone was encountered from 47.0m to 49.3m, overlying a quartzitic gneiss to a depth of 55.6m. The quartzitic gneiss was underlain by a foliated and locally faulted, strongly altered, and locally strongly graphitic pelitic gneiss. Foliation is generally moderate to steep to core axis at 020° to 048°.
For additional comments about the Summer 2013 Program, please watch a corporate video at the Alpha Minerals website: http://www.alphaminerals.ca.
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Patterson Lake South Property
The 31,000 hectare (76,000 acres) PLS project is still 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 on April 1st 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, (>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
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>