Alpha Minerals Inc.

TSX VENTURE : AMW
FRANKFURT : E2GA


Alpha Minerals Inc.

April 01, 2013 07:30 ET

Alpha Minerals Extends Off-Scale Radioactivity at R780E Zone at Patterson Lake South JV

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2013) - Alpha Minerals Inc. ("Alpha" or "the Company") (TSX VENTURE:AMW)(FRANKFURT:E2GA), and its Joint Venture partner Fission Energy Corp. are pleased to announce the most recent drill results from delineation drilling at the recently discovered R780E zone. (See news release dated March 18, 2013). Drill-hole PLS13-060 intersected multiple zones of mineralization including a 41.5m interval of moderate to locally strong radioactivity within basement rocks on its Patterson Lake South ("PLS") property in the Athabasca Basin, Saskatchewan.

The R780E zone is located approximately 780m grid east of the original discovery zone 00E. Drill hole PLS13-060 is the third consecutive hole drilled in the R780E zone and all 3 holes have been mineralized. Additional drilling is planned to further evaluate the R780E zone.

Drilling Highlights include:

  • PLS13-060 intersected eight radioactive intervals ranging in strength from moderate to strongly radioactive and in width from 0.5m to 41.5m.
  • Four of the mineralized zones include discrete narrow intervals of off-scale (>9999 cps) radioactivity.
  • Mineralization occurs down to 258.5m depth, the deepest mineralization encountered to date on the PLS property.

Description of Drill Results - L780E

Hole PLS13-060 was collared vertical and was a 15m step-out grid south of PLS13-055. Scintillometer results show eight radioactive intervals ranging in strength from moderate to strongly radioactive (Table 1). The zones range in width from 0.5m to 41.5m within a 125.0m wide (133.5m - 258.5m) basement hosted sequence of alternating pelitic, semipelitic and quartzitic gneiss. This package is characterized by localized shearing, and hematite/chlorite hydrothermal alteration throughout. Two distinct steeply dipping sub-vertical shear zones with fabrics at low angles to drill core were encountered from 213.4m - 217.5m (25° to 40° to core axis) and 221.3m - 226.5m (5° to 30° to core axis). Weak to strong radioactive mineralization with off-scale (>9999 cps) was recorded in four of the eight mineralized intervals:

  1. 133.5m - 175.0m (41.5m) - moderate to strong radioactivity including several narrow intervals of off-scale (>9999 cps), totaling 1.30m
  2. 183.0m - 189.5m (6.5m) - moderate to strong radioactivity including a 0.2m interval of off-scale (>9999 cps) radioactivity
  3. 203.5m - 209.5m (6.0m) - moderate to strong radioactivity including a 0.3m interval of off-scale (>9999 cps) radioactivity
  4. 212.5m - 217.5m (5.0m) - moderate to strong radioactivity including a 0.2m interval of off-scale (>9999 cps) radioactivity

The R780E zone is correlated with a single-point radon in water anomaly identified during the January - February 2013 survey conducted by RadonEx Exploration Management. The radon anomaly is on trend to the E-NE from the R00E and R390E zones, and is situated 780 meters east of R00E on the PL-3B EM conductor and associated low resistivity corridor that is interrupted by an inferred cross cutting structure. The R780E zone represents the third and most easterly zone of mineralization along the low resistivity corridor and PL-3B EM conductor trend associated with known uranium mineralization at Patterson Lake South. The absence of Devonian Sandstone in the R780E zone represents a geological setting that is required as the bedrock source for the high grade uranium boulders, which are located approximately 4.6km to the southwest.

Table 1: Drill Hole PLS13-060, Grid Line 780E

Collar * Hand-held Scintillometer Results On
Mineralized Drillcore
(>300 cps / >0.5M minimum)
Devonian Sandstone
From - To
(m)
Basement
Uncon-formity
Depth (m)
Total
Drillhole
Depth (m)
Hole ID Grid Line Az Dip From (m) To (m) Width (m) CPS
Peak Range
PLS13-060 780E 0 -90 133.5 175.0 41.5 <300 - >9999 No Sandstone 54.1 276.5
183.0 189.5 6.5 <300 - >9999
193.5 194.0 0.5 7000
203.5 209.5 6.0 <300 - >9999
212.5 217.5 5.0 <300 - >9999
221.0 226.5 5.5 <300 - 2700
246.0 250.0 4.0 <300 - 2200
257.5 258.5 1.0 400 - 1500
* Scintillometer Instrument: GR-110G

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. Borehole radioactivity is measured downhole using a Mount Sopris 2GHF-1000 Triple Gamma probe. 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 are yet to be determined.

An ongoing field program including 9,000m to 10,000m of drilling is in progress and will continue to take advantage of the winter ice expected to last into early April.

All holes are planned to be radiometrically surveyed using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for accurate measurements in high grade mineralized zones. The Triple Gamma probe is preferred in zones of high grade mineralization.

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 fluorimetry and boron. Assay results will be released when received.

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 Energy (FIS). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Fission is the Operator until April 1st 2014. The property is accessible by road with primary access from 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 discoveries located 50km to the north, currently under active exploration and development. Staking activity in the area surrounding the JV has accelerated with almost twice the area occupied by the JV now covered with new tie on claims. Updated maps highlighting the current drilling programs for PLS can be found on the Company's website at 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 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

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.

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.

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