Alpha Minerals Approves $4.0 Million Budget for Patterson Lake South Winter Drill Program
Trading Symbol TSX-V - AMW
VANCOUVER, Jan. 15, 2013 /CNW/ - Alpha Minerals Inc. ("Alpha" or "the Company") and its 50% Joint Venture (JV) partner Fission Energy Corp. are pleased to announce that a $4.0 million winter drill program has been approved by the companies at their Patterson Lake South (PLS) property in the southwest part of Saskatchewan's Athabasca Basin. Preparations for drilling have commenced, including snow removal and ice making on the lake, together with the construction of specialized core logging and storage facilities
Drilling will include two diamond drill rigs. One will focus on the high-grade, shallow uranium discovery around drill hole PLS12-22(see Alpha news release dated November 5, 2012). The second drill will be deployed to test several high-priority geophysical targets within the Patterson Conductor Corridor that have similar signatures to that of the discovery area. To that end, ground EM surveys completed in 2011 have been extended, work is underway, and will be completed prior to drilling in order to improve delineation of conductors and drill target prioritization.
Drilling will mostly be on the lake, augmented by some land drilling around the discovery. The program will continue for as long as winter ice conditions persist, expected for at least two months. Some land-based drilling is also planned. Drill fence sections will be completed to test outwards from the discovery area in order to understand and model in two dimensions the geometries and controls on the high-grade uranium mineralization.
Key Technical Information
- The exploration target at PLS is shallow, high-grade uranium mineralization hosted in basement rocks at approximately 50 meters below surface (ie. below glacial till and sediments).
- Uranium intersected to date is northeast of a uranium boulder field discovered at in 2011, one of the largest high-grade uranium boulder fields known in the Athabasca Basin district. .
- The PLS area remains highly-prospective both in the immediate area of the discovery and over several kilometers along the ENE -WSW strike of the Conductor Corridor.
The PLS property is located approximately 600 kilometers (400 miles) north of Saskatoon, Saskatchewan, and is accessible by road and floatplane, with primary access from all-weather Highway 955, which runs approximately 80 kms further north to the former Cluff Lake uranium mine which produced over 60 million pounds of U3O8, and passes through the widely-reported discoveries on the nearby Shea Creek property of UEX Corporation and Areva Resources Canada (ref: Uranium, Cluff Lake Mine, Saskatchewan Mining Association http://www.saskmining.ca/commodity-info/Commodities/38/uranium.html) 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 the company by Ben Ainsworth, P.Eng. BC/SK, President and CEO for Alpha, a Qualified Person.
On behalf of the Board of Directors of Alpha Minerals Inc.
President, CEO and Director
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.
SOURCE: Alpha Minerals Inc.For further information:
For corporate communications please contact:
Robert (Bob) Meister
Alpha Minerals Inc.
Phone: (604) 629-0293
Toll Free: 1-866-629-0293