COQUITLAM, BC, Aug. 21 /CNW/ - Alpha Gold Corp. (TSX-V: ALQ) today
announced that two new coincident induced polarization (IP) and magnetic
anomalies are the targets for the next phase of drilling on the Company's
100%-owned Lustdust property in central B.C. These anomalies, in areas first
identified from airborne and regional stream geochemical surveys, are located
in the Kwanika Valley in close proximity to the Pinchi Fault. The low
elevations in these areas will permit year-round access and drilling.
Last week crews returned to Lustdust and began drilling the Kwanika
Valley North Anomaly which was derived from the first IP survey that was
announced by the Company in February. The coincident IP, resistivity and
magnetic high anomalies are located on the east side of the Pinchi Fault in
the Quesnel Trough which is highly productive for copper-gold porphyry style
deposits such as Kemess. The Kwanika Valley South Anomaly is located 5 km
south of the North Anomaly and on the west side of the Pinchi Fault. The
coincident IP, resistivity and magnetic low anomalies are accompanied by
strong silicification and a surface showing containing arsenopyrite and
Elsewhere on the Property, several diamond drill holes have been
completed to date on the Valley Zone and the Porphyry Molybdenum Zone (Glover
Stock), the results of which are pending.
There is a crew of 12 currently working on the Property. The Company's
chief consulting geologist, Daryl Hanson, is supervising the entire
exploration program and he is also the Company's "Qualified Person" under
National Instrument 43-101.
Each round of drilling over the years has resulted in new discoveries.
The anchor assets of Alpha Gold's Lustdust Property are the Canyon Creek Skarn
and Skarn Extension zones, where the majority of their 300 diamond drill holes
have been completed to date. This high grade, gold-copper-silver system
remains open along strike to the north and down-dip.
About Alpha Gold Corporation
Alpha Gold is a mineral exploration company whose 100%-owned Lustdust
Property is advantageously situated with nearby road and rail access in
central British Columbia. Lustdust consists of 17 contiguous mineral claims
covering 8,560 hectares and contains ten(10) known mineralized zones,
including: the gold-copper-silver Canyon Creek Skarn(1) and Skarn
Extension(2); Porphyry Molybdenum(3) zone; the Number 3(4), 4B(5), East(6) and
GD(7) zones of base and precious metal rich sulphide manto; the Bralorne Takla
Mercury Mine(8); the exploratory tunnels of the Takla Silver Mine(9)
(BCMINFILE 093N009), a developed prospect that contains high grade gold-silver
veins; and Carlin-style mineralization in the Valley(10) zone. Alpha Gold
Corporation has approximately 30 million shares issued and outstanding,
33 million fully diluted, and is listed on the TSX Venture Exchange under the
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Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
disclosed under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available. The Company does not assume the
obligation to update any forward-looking statement.
For further information:
For further information: George Whatley, President, Alpha Gold Corp., T:
(604) 939-7943, E: email@example.com, www.alphagold.bc.ca; Cathy Hume, CEO,
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