Alpha Minerals Inc.
TSX VENTURE : AMW
FRANKFURT : E2GA

Alpha Minerals Inc.

August 08, 2013 06:30 ET

Alpha JV Drilling Extends Mineralization at R00E Zone, Patterson Lake South, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 8, 2013) - Alpha Minerals Inc. (TSX VENTURE:AMW)(FRANKFURT:E2GA), (the "Company" or "Alpha"), and its 50% Joint Venture partner Fission Uranium Corp. are pleased to announce results for an additional four holes drilled on the R00E Zone. PLS13-079 is of particular note. With an 18.5m wide mineralized zone with a total of 4.94m composite "off-scale", including a continuous 4.63m interval of continuous "off-scale", it surpasses hole 054 to the north on line 015E and is further evidence of the high-grade potential of the zone. These holes add to the overall area of mineralization at the R00E Zone.

Hole PLS13-074 tested the western extent of R00E while PLS13-076, PLS13-077 and PLS13-079 tested the central area of the zone. All four holes intersected varying degrees of mineralization.

Drilling Highlights include:

  • PLS13-079 (line 015E) intersected 18.5m of mineralization (82.5m - 101.0m) with a composite total of 4.94m "off-scale" radioactivity including a 4.63m section of continuous off-scale radioactivity
  • PLS13-077 (line 000W) intersected two wide mineralized intervals (59.0m - 70.5m and 73.5m - 88.5m) of weak-to-moderate radioactivity separated by 3m of barren rock

R00E Zone: Four close spaced holes were completed on lines 075W, 030W, 000W and 015E of the R00E zone. Interpretation so far shows mineralization to be focused in a footwall steeply south dipping package of E-NE trending pelitic gneiss sandwiched between a semi-pelitic rock to the north and a quartz-feldspar gneiss to the south. This lithologic package appears to be parallel along strike to the ~073° oriented basement EM conductor identified from airborne and ground geophysics surveys.

As was the case with previous drill results from the R00E zone, the main mineralized horizon appears to be structurally controlled and generally flat lying within the pelitic (+/- graphite) unit, with the upper level of the mineralized zone occurring at or near the top of the Archean basement rocks, either within or immediately below a thin veneer or Devonian sandstone.

This mineralization in the Devonian sandstone veneer appears to be part of a debris flow or turbidite sediment with angular clasts of uranium that may have been derived from a high energy erosion of mineralization exposed at the top of a body of basement mineralization on the floor of the Devonian sea. It does not have the characterisitics of hydrothermal mineralization such as is seen in the basement mineralization elsewhere.

The Devonian cover appears to be patchy and the uranium boulders in the boulder field down ice did not show any evidence of association with Devonian sandstone lithologies. This is significant as it opens the possibility that the source of the uranium boulders may be located in a nearby window in the Devonian veneer where basement mineralization was scoured by the overriding till sheet as it was pushed towards the west -South-West by the ice.

The uranium mineralization encountered to date in the 3 zones of high grade mineralization was not the source of the large uranium boulder field down Ice.

Mineralization has been traced along strike from line 075W to line 060E. The zone remains open along strike both to the west and east and width (north-south).

Line 075W

One vertical drill hole (PLS13-074) was collared 15m grid west of PLS13-049 (1.93% U3O8 over 18.5m) and intersected two narrow weakly mineralized intervals (65.0m - 66.0m and 105.0m to 106.0m). Further drilling on this line is required to determine if the high-grade mineralization seen in PLS13-049 continues to line 075W.

Line 030W

One vertical drill hole (PLS13-076) was collared 10m south of PLS13-037 (7.25m @ 2.25% U3O8). The hole intersected a 14.0m wide zone of weak to moderate radioactivity (177.5m - 191.5m) relatively deep in the hole. The location of this mineralization fits with the model showing a steep dip to the mineralization in the southern-most hanging wall, paralleling the lithologic contact between the pelitic gneiss and the quartz feldspar gneiss.

Line 000W

Angle hole PLS13-077 was collared at 338° azimuth and a dip of -84° designed to test for the continuation of mineralization 15m north of PLS12-023 (0.27% U3O8 over 9.5m). The hole intersected two zones of weak to moderate radioactive mineralization: an 11.5m wide upper zone (59.0m - 70.5m) and a 15.0m wide lower zone (73.5m - 88.5m). Lithology consists of a 5.4m veneer of Devonian sandstone (56.0m - 61.4m) directly overlying a pelitic gneiss. Pelitic gneiss was encountered from 61.4m to 80.1m and a the footwall semipelitic gneiss from 80.1m to 259.5m (EOH). Mineralization is dominantly hosted within the pelitic gneiss but continues into the footwall semipelitic gneiss.

Line 015E

Angle hole PLS13-079 was collared at an 028° azimuth and a dip of -75° to test for mineralization on line 015E, approximately 10m south of PLS13-054 (11.5m @ 0.28% U3O8). The hole intersected a 18.5m interval of weak to strong radioactive mineralization (82.5m - 101.0m) including two discrete intervals of "off-scale" (>9999 cps) radioactivity totaling a composite of 4.94m. This high-grade mineralization extends the high-grade intersection intersected in hole PLS13-059 a further 8m to 15m to the south, and continues to open up the potential of this area.

Table 1

R00E
Collar * Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >1.0M minimum) Devonian
Sandstone
From - To
(m)
Basement
Uncon-formity
Depth (m)
Total
Drill-hole
Depth (m)
Hole ID Grid Line Az Dip From (m) To (m) Width (m) CPS Peak Range
PLS13-074 075W 76 -89 65.0 66.0 1.0 550 - 1050 60.9 - 66.0 66.0 203.0
105.0 106.0 1.0 370
PLS13-076 030W 61 -89 177.5 191.5 14.0 <300 - 2700 54.0 - 61.4 61.4 267.0
PLS13-077 000W 338 -84 59.0 70.5 11.5 340 - 7500 56.0 - 61.4 61.4 259.5
73.5 88.5 15.0 <300 - 4000
PLS13-079 015E 28 -75 82.5 101.0 18.5 330 - >9999 No Sandstone 59.0 218.0
91.0 97.5 6.5 5700 - >9999
119.0 121.0 2.0 300 - 490
* Scintillometer Instrument: GR-110G

A $6.95M, 44 hole, 11,000m drill program and ground geophysics surveys continues at PLS.

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. The reader is cautioned that scintillometer 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 highly variable and associated with visible pitchblende mineralization. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.

Down hole radiometric surveys are planned for all drill holes, using a total counts Mount Sopris 2GHF-1000 Triple Gamma probe. This unit can carry out more accurate measurements in high grade mineralized zones than the unit used in the earlier part of the drill campaign 2011-winter 2012.

Drill Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt %) and fire assay for gold. All samples sent for analysis will include a 63 element ICP-OES, uranium by ICP-MS and boron. Assay results will be released when received.

For additional comments about the Summer 2013 Program, please watch a corporate video at the Alpha Minerals website: http://www.alphaminerals.ca.

Patterson Lake South Property

The 31,000 hectare (76,000 acres) PLS project is a 50%/50% Joint Venture held by Alpha Minerals Inc (AMW) and Fission Uranium (FCU). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Alpha returns as the Operator of the Joint Venture in 2014. The property is accessible by road with primary access from all-weather Highway 955, which runs 74km north to the former Cluff Lake mine, (>60M lbs of U3O8 produced from multiple open pit and underground mines), and passes through the claims covering the UEX-Areva Shea Creek discoveries located 58km to the north, currently under active exploration and development.

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 Alpha Minerals Inc, by Garrett Ainsworth, P.Geo., Vice President Exploration, a qualified person.

On behalf of the Board of Directors of Alpha Minerals Inc.

Ben Ainsworth, President, CEO and Director

Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for the video and further updated information.

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.

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