Today Alpha Minerals Inc and Fission Energy Corp announced that �Step-Out Drilling Hits 85.5m of Mineralization Including 18.93m of �Off-Scale� Radioactivity at Patterson Lake South, Athabasca Basin� (full release below) TAD recently acquired almost 10,000 acres in the direct vicinity of this discovery in Athabasca Basin.
- Recently TAD acquired the �Constance Lake� hydrothermal graphite prospect bordering Zenyatta Ventures Ltd. (ZEN�TSX Venture).
- Currently trading under 5 cents with a market cap of just over 1 million
TAD Mineral Exploration Inc.
1470 - 701 West Georgia StreetVancouver, BCV7Y 1C6
Tad Acquires North Patterson Lake Athabasca Basin Uranium Prospect
TAD Mineral Exploration Inc. (�TAD� or the "Company") (TJ�TSX Venture)(apr 11, 2013) wishes to announce it has acquired approximately 4000 hectares (9885 acres) of land prospective for uranium in the Athabasca Basin (the �North Patterson Lake Prospect�). This new prospect is in the vicinity of the recent discovery at the Patterson Lake South prospect of Alpha Minerals Inc and Fission Energy Corp. Management plans to mobilize crews shortly to start work on this prospect.
The Athabasca Basin located in Northern Saskatchewan, is an ancient sedimentary basin which hosts the most of the world's most significant uranium mines and produces over 20 per cent of the current world uranium production (U3O8). Athabasca uranium deposits also have grades substantially higher than the world average grade of about 0.2% U3O8. The two dozen or so known uranium deposits within the Athabasca Basin have average grades of more than 3.0% U3O8. The two largest deposits, Cigar Lake and McArthur River have average grades of 20% and 24% U3O8 respectively.
The first major uranium discovery in the region was at Rabbit Lake in 1968. From 1975, the Rabbit Lake Mine operated for 25 years producing over 182 million pounds of uranium by open-pit mining of several ore lenses. In 1975, the richest open-pit deposit in the world was discovered at Key Lake. From 1983 to 2002 the Key Lake deposits produced almost 210 million pounds of uranium. Since the original discovery dating back to 1968, more than 15 uranium deposits totaling over 1.4 billion pounds of uranium have been discovered in the region. In 2011, junior explorer, Hathor Exploration Limited, was taken over by Rio Tinto plc for $654 million after a bidding war with uranium giant Cameco Corp.
The area has once again been a focus of the uranium world with the recent Patterson Lake South uranium discovery made by Alpha Minerals Inc. (TSX.V: AMW), and its Joint Venture partner Fission Energy Corp (TSX.V: FIS)
Jason Gigliotti, director of the company states, �The Athabasca Basin is one of the best known global uranium districts hosting multiple world class deposits. The area has once again become a global focal point with the recent discovery at Patterson Lake South. We plan to embark on an aggressive work program on this project. Management of Tad has let its shareholders down in the past with a lack of focus. We plan on becoming much more active to enhance shareholder value and this is the first step in that direction.�
If you wish to added to TAD�s information list, please send an email to tadcapital@gmail.com
On behalf of the board
TAD MINERAL EXPLORATION INC.
Per: �Jason Gigliotti�
Jason Gigliotti, Director
For further information, please contact:
Jason Gigliotti
TAD Mineral Exploration Inc.
1.604 899.9302.
www. Tad capital. com
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 press release
Thursday July 18, 2013. Alpha Minerals Inc. (TSX.V: AMW) ("Alpha� or "the Company") and its 50% Joint Venture partner Fission Uranium Corp. are pleased to announce partial results of its first hole of the summer drill season, testing the western extension of the R390E zone, at Patterson Lake South. Hole PLS13-072 (drilling still in progress), has so far returned a broad 85.5m interval (62.0m � 147.5m) of variably radioactive mineralization including a total of 18.93m of off-scale (>9999 cps) radioactivity in numerous narrower intervals throughout.
The hole is located 15m grid west of hole PLS13-061, previously the western-most hole testing the R390E zone. Scintillometer results for hole PLS13-072 overall are stronger, wider, more continuous and contain significantly more off-scale radioactivity than PLS13-061 (see news release dated April 3, 2013). Drilling of hole PLS13-072 is still in progress at a depth of 185.1m, but temporarily on-hold for mechanical reasons and is awaiting replacement.
PLS13-072 Highlights:
- 85.5m (62.0m � 147.5m) wide main zone containing total of 18.93m of off-scale (>9999 cps) radioactivity.
- Main zone characterized by variable radioactivity from weak-to-very strong throughout.
- Off-scale mineralization comprised of multiple narrower intervals of off-scale (>9999 cps) radioactivity ranging in width from 0.1m to 4.6m wide each, totaling 18.93m.
- Expands the western boundary of the R390E zone by 15m
- Main wide zone of variably radioactive mineralization starts at shallow depth of 62.0 m, and two narrower intervals starting at 157.5 m and 169.5 m of weak-to-moderate radioactivity as measured with a GR-110 hand held scintillometer.
Key Technical Details
- Hole PLS13-072 (R390E Zone line 345E) was collared as a vertical hole and is still in progress at a depth of 185.1m. The collar is located 15m grid west of PLS13-061 (23.5m @ 1.39% U3O8 including 6.0m @ 4.34% U3O8 (see news release June 5, 2013), and represents a significant intersection at the R390E zone.
- This new drill hole represents a shallow, very broad interval of almost continuous radioactivity and, importantly, extends the R390E Zone an additional 15.0m west.
The relevant geological features of the hole are as follows:
- Basement bedrock was encountered at 55.7m depth, immediately below the overburden with no Devonian sandstone encountered above the basement.
- In drill hole PLS13-072 there is a marked difference in the absence of Devonian sandstone, and greater depth to the top of basement rocks compared to drill holes located along strike to the east within the R390E zone. This may be a result of the RC rig casing past the overburden and bedrock contact, and so the presence or absence of Devonian sandstone is inconclusive. Alternatively, the lack of Devonian sandstone and presence of shallower mineralization may indicate that the bedrock source of the high grade uranium boulders is possibly approaching further to the west of PLS13-072. Other step out drill holes may resolve this.
- From 55.7m to 163.0m basement lithology consists of alternating sequences of moderate-to-steeply dipping pelitic gneiss and mylonites. This alternating sequence is underlain by semi-pelitic gneiss from 163.0m to the present drilling depth.
- Moderate-to-locally-strong clay alteration is present throughout the pelitic gneiss/mylonite package.
- Radioactive mineralization (62.0m � 147.5m) starts 6.3m below the overburden � basement unconformity and is dominantly constrained within the pelitic gneiss/mylonite rocks, though weak mineralization continues below within the semi-pelitic gneiss. The upper 5.0m of mineralization being very weakly radioactive while more intense mineralization begins at 67.0m and continues to 108.0m, consisting of weak-to-strong radioactivity including numerous narrower intervals of off-scale (>9999 cps) radioactivity each ranging in width from 0.1m to 4.6m wide.
- From 108.0m to 125.0m, mineralization is weak-to-moderately radioactive and increasing to moderate-to-locally-strong from 125.0m to 147.5m.
R390E |
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Collar |
* Hand-held Scintillomenter Results On Mineralized Drillcore (>300 cps / >1.0M minimum) |
Sandstone From - To (m) |
Basement Unconformity Depth (m) |
Total Drillhole Depth (m) |
Hole ID |
Grid Line |
Az |
Dip |
From (m) |
To (m) |
Width (m) |
CPS Peak Range |
PLS13-072 |
345E |
0 |
-89 |
62.0 |
147.5 |
85.5 |
<300 - >9999 |
N / A |
55.7 |
180.0 |
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69.0 |
85.5 |
16.5 |
1100 - >9999 |
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92.6 |
99.5 |
6.9 |
5000 - >9999 |
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157.5 |
162.5 |
5.0 |
<300 - 8600 |
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169.5 |
172.0 |
2.5 |
<300 - 720 |
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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 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.
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 video HERE
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, (>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