TSX VENTURE: AMW
VANCOUVER, Nov. 12, 2012 /CNW/ - Alpha Minerals Inc. (TSX-V: AMW), (the "Company" or "Alpha"), and its Joint Venture partner Fission Energy Corp (TSX-V:FIS) are pleased to release additional results from the current core drill program. Since the announcement of the discovery hole PLS12-022 (see news release Nov. 5, 2012), two more vertical holes have been completed, PLS12-023 located 10 meters grid north of Hole PLS12-022 and Hole PLS12-024 located 10 meters grid west of PLS12-022.
PLS12-023 intersected approximately 13 meters (42.9 feet) of strongly anomalous radioactivity over the core interval between 63.0-76.0 meters downhole with visible uranium mineralization and extensive alteration.
PLS12-024 intersected approximately 24 meters (79.2 feet) of strongly anomalous radioactivity over the core interval between 59.0 - 93.0 meters with a 13.0 m wide interval of mineralization which includes intermittent intervals, totaling 2.14m, of off-scale (>9999 cps) radioactivity. This was measured with the handheld Exploranium GR-110G total counts gamma-ray scintillometer and stated as cps (counts per second). This thicker zone was also associated with strong alteration.
The mineralization occurs at shallow depth in basement rocks. In both drill holes, ?Devonian sediments overlie the basement rocks and are radioactive. This is considered by Alpha to be indicative of a potential nearby source of basement mineralization that was eroded and contributed to these younger ?Devonian sediments at an unconformity overlying the Archean Basement rocks. This is not recognized as the Athabasca Sandstone unconformity with the Archean Basement.
|* Mineralization (>300 cps / 0.5M minimum)||Overburden|| Devonian?
|Hole ID|| Grid
|Az||Dip||From - To(m)||Width(m)||CPS Max Peak||Depth (m)||Depth (m)|| Depth
|PLS12-022||000W||180||-90||57.5 - 78.5||21.0||300 - >9999||0 - 55.3||59.2||212.5|
|116.5 - 117.5||1.0||308 - 323|
|170.0 - 171.0||1.0||301 - 384|
|PLS12-023||000W||180||-90||60.0 - 61.0||1.0||315 - 400||0 - 53.80||60.59||197.2|
|63.0 - 76.0||13.0||300 - 3300|
|91.0 - 91.5||0.5||800|
|105.5 - 106.0||0.5||352|
|PLS12-024||010W||180||-90||59.0 - 83.0||24.0||300 - >9999||0- 56.23||60.1||191.1|
|65.0 - 78.0||13.0||2100->9999|
|91.0 - 93.0||2.0||305 - 1300|
The reader is cautioned that the cps readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is normally variable and associated with visible pitchblende mineralization. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
All further drill holes will be radiometrically surveyed with a Mount Sopris 2GHF-1000 Triple Gamma probe over the highly radioactive zones. This tool can return more accurate measurements in high grade mineralized zones.
Patterson Lake South Property
The 31,039 hectare PLS project is a 50%/50% Joint Venture held by Alpha Minerals Inc. (AMW) and Fission Energy Corp. (FIS). Fission is the Operator. PLS is accessible by road via 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 (more than 90 million lbs U3O8 in resource estimates) discoveries located 50km to the north, currently under active exploration and development. Updated maps highlighting the successful fall 2012 drill program at PLS can be found on the Company's website: 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 the company by Ben Ainsworth, P.Eng BC/SK, President and Director for Alpha Minerals Inc., a qualified person for the Company.
On behalf of the Board of Directors of Alpha Minerals Inc.
President, CEO and Director
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.
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For corporate communications please contact:
Robert (Bob) Meister
Alpha Minerals Inc..
Phone: (604) 629-0293
Toll Free: 1-866-629-U3O8 (8368)