Alpha Minerals JV Intersects Largest Accumulation of Total Composite Mineralization to Date at PLS
October 9, 2013 (Source: Marketwired) — 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 results for drill hole PLS13-099 on line 960E, which is the easternmost hole of the R945E zone. With 144.0m total composite mineralization, including 8.0m total composite off-scale radioactivity, the new hole represents the largest accumulation of mineralized intervals in any drill hole at PLS to date. Of additional note, the PLS discovery now has high-grade mineralization on trend, along a strike length of 1.035km.
PLS13-099 Drilling Highlights include:
- 144.0m total composite mineralization within 180.0m section (101.0m – 281.0m)
- 8.0m of total composite off-scale (>9999 cps) radioactivity in several discrete intervals ranging from 0.1m to 1.7m each (169.5m – 257.0m)
- Extends on trend strike length of PLS discovery to 1.035km
Composited uranium 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.
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 sediment survey completed during April 2013 by RadonEx. The radon anomaly is the strongest radon in water anomaly to date (see News Release May 6, 2013). This anomaly lies along an ENE trend, parallel to the PL-3B EM conductor. To date, four holes have been drilled into the R945E zone, including PLS13-099 and all four holes have been well mineralized over significant widths. With 144.0m of total composite mineralization, PLS13-099 represents the widest accumulation of mineralization in the R945E zone.
Hole PLS13-099 (line 960E) was collared as a vertical hole and completed to a depth of 368.0m. The hole is located approximately 15m grid east of hole PLS13-084 (18.0m of mineralization with 2.7m total composite off-scale – see news release August 15, 2013). A total of 5 discrete intervals of variably moderate to strongly radioactive mineralization occurred within a 180.0m section (101.0m to 281.0m) in widths ranging from 1.0m to 105.0m. Three of these intervals contain discrete intervals of off-scale (>9999 cps) radioactivity from 0.1m to 1.7m wide, for a total measured composite of 8.0m of off-scale radioactivity. Basement bedrock was encountered at 59.8m below the surface. The upper part of the lithologic sequence (59.8m to 105.4m) is comprised of a quartzitic gneiss. From 105.4m to 270.1m a pelitic gneiss dominates with local narrow intervals (up to 7.4m wide) of undifferentiated mylonite and cataclasite, transitioning to a semi-pelitic gneiss from 270.1m to the end of hole depth of 368.0m. Moderate chlorite alteration is present throughout the hole, with hematitic clay dominating from 168.5m to 230.7m. Sulphide bearing intervals occur from 213.5m to 221.0m.
|* Hand-held Scintillometer
Results On Mineralized
(>300 cps / >0.5M minimum)
|CPS Peak Range||From –
|PLS13-099||960E||196||-88||101.0||105.5||4.5||<300 – 640||No Sandstone||59.8||368.0|
|108.5||213.5||105.0||<300 – >9999|
|222.5||253.0||30.5||<300 – >9999|
|256.5||257.5||1.0||500 – >9999|
|278.0||281.0||3.0||<300 – 1000|
|* Scintillometer Instrument: GR-110G|
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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 acting as the operator.
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, 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.
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>