COQUITLAM, BC, Sept. 17 /CNW/ - Alpha Gold Corp. (TSX-V: ALQ) today
announced that permitting is underway for a 3000-metre diamond drilling
program to commence this week on territory never before drilled, in the
Kwanika Valley on the Company's 100%-owned Lustdust property in central B.C.
The drilling program will target an area approximately 50 metres from
Alpha's eastern border with Serengeti Resources Inc.'s (TSX-V: SIR) Kwanika
Project where that company has recently reported significant intersections
from a series of holes lying approximately 100 metres away from Alpha Gold's
property line (Serengeti press release dated July 31, 2008). This area lies
approximately 2.5 km southeast of the heavily mineralized Canyon Creek Skarn.
Alpha Gold's targets are approximately 150 metres from Serengeti's K-96
hole and will test for continuity of gold-copper mineralization.
George Whatley, President and CEO of Alpha Gold explained, "Alpha Gold is
in the enviable position not only to hold 100% interest in the
multi-mineralized Lustdust Property but also to have the cash in hand that
allows the Company to avoid the unsubstantiated dilution that so many other
exploration companies have experienced when closing equity financings since
spring 2008. We are ready and financed to proceed and react to new discoveries
now and add value to Lustdust."
The Company's chief consulting geologist, Daryl J. Hanson, P.Eng., is the
Company's "Qualified Person" under National Instrument 43-101 and is
overseeing the exploration program.
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 36.8 million shares issued and outstanding, with
approximately $4 million in cash on hand. Shares are listed on the TSX Venture
Exchange under the symbol "ALQ".
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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: firstname.lastname@example.org, www.alphagold.bc.ca; or Cathy Hume,
CEO, CHF Investor Relations, T: (416) 868-1079 x231, E: email@example.com