VANCOUVER, Nov. 13, 2012 /CNW/ - Alpha Gold Corp. (TSXV: ALQ) (the "Company") is pleased to announce that further to the news release of October 24, 2012, with respect to the Aurora Geosciences Ltd. Deposit Potential and Data Valuation of the Lustdust property (the "Compilation"), the Company has decided to proceed on certain priorities for its proposed 2013 exploration program.
Attached to this news release is a Target Area Map which documents primary areas Aurora has identified for further exploration.
The Company will pursue the following opportunities, subject to financing:
1. Inverting Geophysical Data on Target 8:
- It is envisioned this inversion data could identify the limits of the Glover Stock. There is a ZTEM airborne response associated with known mineralization on the east side of the Glover Stock. A second airborne ZTEM response occurs on the west side of the Glover Stock which may be identifying additional mineralization at depth and supports the hypothesis the Skarn in this area is larger than previously understood.
- The Compilation concludes - "The geophysical response of this anomaly is similar to the anomaly on the eastern side of the Glover Stock which hosts the Canyon Creek Skarn deposit. Exposed but unmineralized limestone stratigraphy at surface, immediately west of the Glover Stock, supports the possibility of Skarn-hosted sulphide mineralization at depth."
There are drill ready targets within Target 8 and the 2013 work will focus on selecting the most promising targets.
2. Exploration of Target 9:
- This Target covers the interpreted sub-surface extent of the Glover Stock.
- As noted by Aurora, "The multi-phase Glover Stock is interpreted to be the source of ore bearing fluids to the Canyon Creek Skarn Deposit. The Glover Stock is host to porphyry alteration and mineralization assemblages at surface and at depth."
- The Company will complete inversion modeling of the magnetic and ZTEM data to confirm whether the mineralized intrusive complex may be more extensive than originally interpreted, hence providing additional significant exploration potential.
3. Ground exploration on Target 10 which could identify a northern extension of the mineralized system, to the south, discovered by Serengeti Resources (Central and South Zone Deposits).
Gary Vivian, M.Sc, P. Geo, of Aurora Geosciences Ltd., is a designated Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this news release.
Aurora's report entitled "Deposit Potential and Data Evaluation of the Lustdust Property" dated October 23, 2012, will be filed on SEDAR within 45 days, as is required.
About Alpha Gold Corporation
Alpha Gold is a mineral exploration company whose 100%-owned, royalty-free, Lustdust Property is advantageously situated with nearby road and rail access in north-central British Columbia. Lustdust consists of 20 contiguous mineral claims covering 9,583 hectares and contains twelve known mineralized areas, of which the copper-gold-silver Canyon Creek Skarn Deposit has a NI 43-101 compliant resource. Alpha Gold Corporation has approximately 47.2 million shares issued and outstanding, 51.4 million fully diluted. Shares are listed on the TSX Venture Exchange under the symbol "ALQ".
- Carl Pines, CEO, Director, on behalf of Alpha Gold Corp.
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Neither 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. 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 judgement as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
SOURCE: Alpha Gold Corp.
For further information:
Please visit www.alphagoldcorp.com or contact:
CHF Investor Relations
Cathy Hume, CEO
T: 416-868-1079 x231