Alpha Minerals JV Intersects Significant Mineralization at Radon Anomaly on Line 585E: Expanding Potential at PLS, Athabasca Basin
September 23, 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 the intersection of significant mineralization at the first drill hole on line 585E, which targeted a radon in water anomaly in the current drill programme, on its Patterson Lake South (“PLS”) property in the Athabasca Basin, Saskatchewan.
This first hole on line 585E, PLS13-098, intersected 76.0m total composite mineralization within 107.5m section (62.5m – 170.0m), including 7.62m total composite off-scale radioactivity. This drill hole on line 585E is located approximately halfway between the R390E and R780E zones or 150m grid east of the edge of the R390E Zone (PLS13-078 on line 435E, see news release August 22, 2013). This is the fourth successful test of Radon targets from the survey carried out by RadonEx earlier in 2013 for the Joint Venture. These add to the original discovery area and the JV now has five areas of mineralization on strike along a 1.02 km trend.
Drilling Highlights drill hole PLS13-098 include:
- PLS13-098 represents a Potential 5th high grade Zone, located halfway between R390E and R780E zones along the PL-3B EM conductor trend
- 76.0m of total composite mineralization at shallow depth within 107.5m section (62.5m – 170.0m)
- 7.62m of off-scale in several narrow discrete intervals ranging from 0.09m to 2.21m each
Line 585E Area
The Line 585E Area is defined by one drill hole (PLS13-098), and is located approximately 150m grid east of the easternmost defined edge of the R390E zone. The hole was targeted on a radon in water anomaly along the northern edge of the low resistivity feature, which is associated with the mineralized east-northeast trending pelitic corridor (the PL-3B EM conductor), and its coincident radon in water and sediment anomalies. The geologic setting of the Line 585E Area is similar to the R00E, R390E, R780E, and R945E zones, consisting of mineralization primarily associated with sequences of steeply south dipping pelitic lithology with localized mylonites and cataclasites.
Hole PLS13-098 (line 585E) was collared as a vertical hole and completed to a depth of 317.0m. The hole is located approximately 150m grid east of hole PLS13-078 (42.0m of total composite mineralization with 1.25m total composite off-scale – (see news release August 22, 2013). A number of discrete intervals of variably radioactive mineralization occur from 62.0m to 283.0m. The most significant mineralization occurs within a 107.5m section (62.5m to 170.0m) in widths ranging from 1.5m to 33.5m. Four of these intervals contain discrete intervals of off-scale (>9999 cps) radioactivity from 0.09m to 2.21m wide, for a total measured composite of 7.62m of off-scale radioactivity. The intervals of 123.0m – 139.5m and 145.5m – 149.5m are the strongest mineralized sections, containing the majority of the off-scale radioactivity.
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Basement bedrock was encountered at 62.4m below the surface. Pelitic gneiss occurs from 62.4m to 277.2m. From 277.2m to the end of hole depth of 317.0m basement is comprised of a semipelitic gneiss. Strong mylonites and cataclasites are present from 105.0m to 115.5m, dipping at 10° to 40° to core axis. Moderate to strong chlorite alteration is present from 62.4m to 117.1m and moderate to strong clay alteration from 117.1m to 171.4m. Weak to moderate chlorite alteration is present from 171.4m to 317.0m
|Collar||* Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum)||
|Basement Unconformity||Total Drillhole|
|CPS Peak Range||From – To (m)||Depth (m)||Depth (m)|
|PLS13-098||585E||175||-89||62.5||64.0||1.5||400 – 850||N / A||62.4||317.0|
|67.0||100.5||33.5||<300 – >9999|
|103.5||105.0||1.5||350 – 650|
|111.0||120.5||9.5||<300 – 2200|
|123.0||139.5||16.5||<300 – >9999|
|145.5||149.5||4.0||1000 – >9999|
|160.5||170.0||9.5||<300 – >9999|
|198.0||199.5||1.5||310 – 440|
|* Scintillometer Instrument: GR-110G|
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, like the down hole gamma probe 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.
Radiometric surveys are planned for all holes using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones.
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 U 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/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 and further work is still planned by the Joint Venture Committee for targets on land to the SW of the discovery zone R00E.
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>