Two More Drill Holes Cut High Radioactivity and Uranium Mineralization at PLS, Saskatchewan
TSX VENTURE: AMW
VANCOUVER, Nov. 12, 2012 /PRNewswire/ – 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 / Overburden Devonian? Total 0.5M minimum) Unconformity Hole ID Grid Az Dip From - To Width CPS Max Depth (m) Depth (m) Depth Line (m) (m) Peak (m) PLS12-022 000W 180 -90 57.5 - 21.0 300 - 0 - 55.3 59.2 212.5 78.5 >9999 71.0-77.0 6.0 1800->9999 116.5 - 1.0 308 - 323 117.5 170.0 - 1.0 301 - 384 171.0 PLS12-023 000W 180 -90 60.0 - 1.0 315 - 400 0 - 53.80 60.59 197.2 61.0 63.0 - 13.0 300 - 76.0 3300 91.0 - 0.5 800 91.5 105.5 - 0.5 352 106.0 PLS12-024 010W 180 -90 59.0 - 24.0 300 - 0- 56.23 60.1 191.1 83.0 >9999 65.0 - 13.0 2100->9999 78.0 91.0 - 2.0 305 - 93.0 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
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.