Alpha Minerals Reports on Successful Winter Drill Program with Assay Data for the Discovery Zone, R00E, at Patterson Lake South JV, Athabasca Basin, Saskatchewan Wednesday April 10
th, 2013,
Alpha Minerals Inc. ("Alpha" or �the Company") (TSX.V: AMW), and its 50% Joint Venture partner Fission Energy Corp. are pleased to report further assay results from twelve holes in
the Discovery Zone,
R00E on its Patterson Lake South ("PLS") Property at the wind up of its successful winter drill program.
The Company reports on twelve holes in which results from assays and scintillometer drill core data now indicate an area of broad, relatively flat lying zone of uranium mineralization at shallow depths. In this news release, only the assays are reported and a compilation of unreported handheld scintillometer data will follow.
The zone extends from Section Line 60E to Line 45W, approximately 105 meters NE-SW, with a width of approximately 25 to 30 meters NW-SE. A summer � fall drilling program will be planned based on a full review of the winter drill program.
Highlights include:
Hole PLS13-037 (line 025W) intersected several multiple intervals of mineralization totaling 23m including:
- 7.5m grading 2.25% U3O8 (71.0m-78.5m)
- 2.0m grading 6.31% U3O8 (105.0m � 107.0m)
- 2.0m grading 12.4% U3O8 (120.0m � 122.0m)
Hole PLS13-027 (line 025W) intersected:
- 37.5m (61.0m-98.5m) grading 1.17% U3O8, including:
- 13.0m of 1.97% U3O8 (78.0m � 91.0m)
Hole PLS13-029 (Line 025W) intersected:
- 30.0m (63.0m-93.0m) grading 0.76% U3O8, including:
- 3.5m grading 3.57% U3O8 and a further 3.5m grading 2.08% U3O8
The Discovery Zone 00E has gone from discovery to deposit in 6 months.Recent Alpha financing assures funds for further work. The 2013 winter drill program is now complete, with radon surveying started in February ongoing for as long as ice conditions permit. A total of 10,182.6m of diamond drilling was completed in 46 drill holes. Radioactivity data from all drill holes not previously reported will be released as soon as data compilation and integration is complete.
Seven of the holes reported are located on the central area of the R00E zone, from lines 025W (holes PLS13-026, 027, 029, 031, 033 and 037) and 010W (PLS13-035). All 7 holes intersected uranium assays greater than 0.05% U3O8 over widths greater than 0.5m. Assay results confirm the presence of a relatively flat lying lens of uranium mineralization at shallow depth, that appears to be continuous between drill holes. Hole PLS13-037, the most southerly hole on line 025W, intersected multiple zones of uranium, including 3 discrete intervals between 60m and 87.5 depth that appear to be correlated with the flat lying mineralization of the other holes on the same section line. In addition there are multiple zones of uranium between 105.0m - 180.5m depth which may be indicative of mineralization associated with a steeply dipping fault system
Five of the holes reported are located to the east on line 090E (PLS13-028, 030 and 033) and line 105E (PLS13-034 and 036). Two of these holes are moderately mineralized (PLS13-028 and 032), showing the potential in this area to host higher grade mineralization. Although on trend along strike to the east, these holes located approximately 90 and 105m east of the discovery line (line 000), it is not yet known if these holes connect with the R00E zone, or are part of a separate occurrence.
The discovery area is open and additional drilling is required to delineate it..
Table 1: Composited Mineralized Intervals (Down-hole measurements)
Zone |
Hole ID |
Grid Line |
From (m) |
To (m) |
Interval (m) |
U3O8 (wt%) |
R00E |
PLS13-026 |
025W |
63.00 |
84.50 |
21.50 |
0.77 |
|
|
|
73.50 |
81.50 |
8.00 |
1.41 |
|
|
|
88.50 |
89.50 |
1.00 |
0.13 |
|
PLS13-027 |
025W |
61.00 |
98.50 |
37.50 |
1.06 |
|
|
|
78.00 |
91.00 |
13.00 |
1.97 |
|
|
|
106.00 |
106.50 |
0.50 |
0.06 |
|
|
|
144.50 |
145.00 |
0.50 |
0.19 |
|
PLS13-028 |
090E |
48.50 |
52.50 |
4.00 |
0.16 |
|
PLS13-029 |
025W |
63.00 |
93.00 |
30.00 |
0.76 |
|
|
|
81.50 |
85.00 |
3.50 |
3.57 |
|
|
|
88.50 |
92.00 |
3.50 |
2.08 |
|
PLS13-030 |
090E |
No significant mineralization |
|
PLS13-031 |
025W |
68.50 |
92.00 |
23.50 |
0.67 |
|
|
|
82.50 |
90.00 |
7.50 |
1.58 |
|
PLS13-032 |
090E |
49.00 |
50.50 |
1.50 |
0.05 |
|
PLS13-033 |
025W |
70.00 |
72.00 |
2.00 |
0.17 |
|
|
|
77.00 |
77.50 |
0.50 |
0.06 |
|
|
|
86.00 |
87.50 |
1.50 |
0.15 |
|
|
|
92.00 |
93.00 |
1.00 |
0.09 |
|
PLS13-034 |
105E |
No significant mineralization |
|
PLS13-035 |
010W |
62.00 |
71.50 |
9.50 |
0.39 |
|
|
|
78.00 |
86.50 |
8.50 |
0.96 |
|
|
|
81.00 |
85.50 |
4.50 |
1.57 |
|
|
|
121.50 |
122.00 |
0.50 |
0.07 |
|
PLS13-036 |
105E |
No significant mineralization |
|
PLS13-037 |
025W |
60.00 |
62.00 |
2.00 |
0.12 |
|
|
|
71.00 |
78.50 |
7.50 |
2.25 |
|
|
|
74.00 |
76.00 |
2.00 |
7.43 |
|
|
|
83.50 |
87.50 |
4.00 |
0.09 |
|
|
|
105.00 |
107.00 |
2.00 |
6.31 |
|
|
|
109.50 |
110.00 |
0.50 |
0.10 |
|
|
|
113.50 |
116.00 |
2.50 |
0.13 |
|
|
|
119.00 |
122.50 |
3.50 |
7.27 |
|
|
|
120.00 |
122.00 |
2.00 |
12.40 |
|
|
|
124.50 |
125.00 |
0.50 |
0.06 |
|
|
|
180.00 |
180.50 |
0.50 |
0.07 |
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 Energy (FIS). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Fission is the Operator until April 1st 2014. The property is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine, (>60M lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development. Staking activity in the area surrounding the JV has accelerated with almost twice the area occupied by the JV now covered with new tie on claims. Updated maps highlighting the current drilling programs for PLS can be found on the Company's website at
www.alphaminerals.ca.
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
For corporate communications please contact:
Robert (Bob) Meister
Alpha Minerals Inc.
Vancouver, BC
Phone: (604) 629-0293
Toll Free: 1-866-629-0293
Email:
info@alphaminerals.ca Please refer to the Alpha Minerals Inc. website (
www.alphaminerals.ca) for further and 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.