Alpha Minerals Inc.

TSX VENTURE : AMW
FRANKFURT : E2GA


Alpha Minerals Inc.

April 03, 2013 07:30 ET

Alpha Minerals Extends Strike of R390E Zone to 60 m at Patterson Lake South Property, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 3, 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 results from 4 additional step-out drill targets in the R390E zone at the Patterson Lake South (PLS) property. Drill holes PLS13-061 and 066 have doubled the strike length of this high grade zone to 60m, and the zone remains open in all directions.

This news release covers four new drill holes on four grid lines, namely L360E, 375E, 405E and 420 E. Drill hole PLS13-038, the discovery hole at R390E Zone, occurs on grid line L390E. All four drill holes intersected select zones of off-scale radioactivity within broader zone of lower but continuous radioactivity. Drill holes PLS13-061 and PLS13-066 extend high-grade pitchblende mineralized 15m to the west and 15m to the east respectively of mineralization first discovered at this zone in drill hole 38 (see news release Feb 19, 2013).

The R390E zone is now delineated by continuous mineralization in nine drill holes, and is open in all directions. Extensive follow-up drilling is planned for this zone for the upcoming 2013 summer program. All intersections noted below are down-hole, core interval measurements only. True thickness is yet to be determined and may be shorter.

The current winter drill program planned for 9,000 to 10,000 metres is winding down, but will continue for as long as ice conditions permit.

Drilling Highlights include:

  • PLS13-066 (L420E) intersected 64.0m of moderate to strong radioactivity (81.5m - 145.5m) with a total of 5.57m of off-scale (>9999 cps) radioactivity
  • PLS13-061 (L360E) intersected four mineralized radioactive intervals (76.5m - 140.0m) ranging in strength from moderate to strongly radioactive and in width from 1.0m to 30.5m, including a 30.5m of interval ranging from moderate to strong radioactivity (109.5m - 140.0m) with a total 4.13m of off-scale (>9999 cps) radioactivity

R390E Zone

The R390E zone is located ~390m on-strike to the east of the R00E zone, the first discovered zone at Patterson Lake. Both the R00E and R390E zones are located immediately north of the PL-3B basement EM conductor, and within a parallel resistivity low corridor that extends for about 3km in strike length. Mineralization is associated with a steeply south-dipping panel of pelitic gneiss which occurs between semipelitic gneiss to the north and quartz-feldspar gneiss to the south. Pitchblende mineralization is focused near the contact between the pelitic gneiss and quartz-feldspar gneiss, and is commonly associated with graphitic shear zones, and/or clay-altered pegmatites.

Line 420E

Hole PLS13-066 is vertical, collared 15m grid east of hole PLS13-051. A 2.1m wide interval of Devonian sandstone (49.7m - 51.8m) overlies the basement quartzitic gneiss hanging wall of the pelitic gneiss corridor. Scintillometer delineates a 64.0m wide zone of variable but continuous radioactive mineralization from 81.5m - 145.5m. The mineralization occurs predominantly within strong to intensely clay altered pelitic gneiss with the top of the mineralized interval developing near the contact of an overlying quartzitic gneiss. There are several discrete intervals of off-scale (>9999 cps) radioactivity ranging in widths from 0.1m - 1.26m, for a total of 5.57m.

Line 360E

Hole PLS13-061 is vertical, collared 15m grid west of hole PLS13-053. A 0.6m wide interval of Devonian sandstone (50.5m - 52.1m) overlies basement quartzitic gneiss, and pelitic (+/- graphitic) gneiss. Scintillometer delineates four radioactive zones of variable width and intensity. (Table 1). The intervals range in width from 1.0m to 30.5m within a 63.5m wide (76.5m - 140.0m) basement hosted sequence of predominantly pelitic gneiss, often graphitic. This package is characterized by localized shearing and hematite/clay hydrothermal alteration. Two distinct shear zones with moderate angles to drill core were encountered at 102.7m - 107.2m and 143.3m - 158.8m (35° to 55° to core axis). Moderate to strongly radioactive mineralization with off-scale (>9999 cps) was recorded in two of the four mineralized intervals:

  1. 88.5m - 98.0m (9.5m) - moderate to strong radioactivity including a 0.18m interval of off-scale (>9999 cps) radioactivity
  2. 109.5m - 140.0m (30.5m) - moderate to strong radioactivity including several intervals of off-scale (>9999 cps) radioactivity, totaling 4.13m

Line 405E

Hole PLS13-064 is vertical, collared 10m to grid north of PLS13-051. A 0.1m wide interval of Devonian sandstone (52.6m - 52.7m) overlies basement quartzitic gneiss, and an intercalated sequence of pelitic and semipelitic gneiss. Two moderately mineralized intervals were recorded between 90.0m - 96.0m. A 29.0m wide zone of moderate to locally strongly radioactive mineralization (108.5m - 137.5m) was intersected in a dominantly pelitic gneiss unit. One narrow interval (0.34m) of off-scale radioactivity was intersected (131.5m - 131.84m). Moderate to strong clay alteration is prevalent from 100.4m - 162.8m.

Line 375E

Hole PLS13-062 is vertical, collared 10m grid north of PLS13-053. A 1.4m wide interval of Devonian sandstone (50.3m - 51.7m) overlies the basement pelitic gneiss. A 4.5m wide moderate to strongly radioactive interval (51.0m - 55.5m) with 0.12m of off-scale (>9999 cps) radioactivity penetrates into the overlying sandstone and continues into the basement pelitic unit. A 14.0m wide lower zone (85.0m - 99.0m) of moderate to strong radioactive mineralization occurs within a clay and hematite altered graphitic pelitic gneiss.

Drill Hole Radioactivity Summary

R390E
Collar * Hand-held Scintillometer
Results On Mineralized
Drillcore
(>300 cps /
>0.5M 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
PLS13-061 360E 78 -89 76.5 84.5 8.0 <300 - 1200 51.5 - 52.1 52.1 291.7
88.5 98.0 9.5 430 - >9999
102.5 103.5 1.0 1000 - 2300
109.5 140.0 30.5 <300 - >9999
PLS13-062 375E 0 -90 51.0 55.5 4.5 320 - >9999 50.3 - 51.7 51.7 212.5
85.0 99.0 14.0 <300 - 6700
106.0 108.0 2.0 360 - 480
PLS13-064 405E 0 -90 90.0 92.0 2.0 310 - 1500 52.6 - 52.7 52.7 218.5
95.0 96.0 1.0 540 - 740
108.5 137.5 29.0 <300 - >9999
PLS13-066 420E 0 -90 81.5 145.5 64.0 <300 - >9999 49.7 - 51.8 51.8 279.5
155.0 156.5 1.5 310 - 360
* 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 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

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

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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