Alpha Minerals Inc.
TSX VENTURE : AMW
FRANKFURT : E2GA

Alpha Minerals Inc.

September 25, 2013 06:30 ET

Alpha Minerals JV Intersects 34.5m of 8.15% U3O8 Starting at 61.0m in Drill Hole PLS13-072 at PLS, Athabasca Basin

VANCOUVER, CANADA--(Marketwired - Sept. 25, 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 report assay results from holes PLS13-072 (line 345E) and PLS13-073 (line 435E) drilled on the Western and Eastern regions of the R390E zone, at their Patterson Lake South (PLS) property, Saskatchewan. The main zone of mineralization for PLS13-072 returned an interval of 8.15% U3O8 over 34.5m, including a higher grade core of 19.28% U3O8 over 7.5m. With an overall Grade x Thickness (GT) value of 281.2 for the near surface interval, this hole ranks amongst the best mineralized holes to date at PLS.

Assay Highlights

  • PLS13-072
    • 34.5m @ 8.15% U3O8 (61.0m - 95.5m) with GT 281.2, including:
      • 7.50m @ 19.28% U3O8 (65.5m - 73.0m)
      • 21.53% U3O8 over 4m (91.0m - 95.0m)
    • Highest assay of 47.0% U3O8 (68.5m - 69.0m)

Composited U3O8 mineralized intervals are summarized in Table 1 below. Samples from the drill core are split in half on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to the laboratory for analysis and the other half remains on site for reference. All depth measurements reported, including sample and interval widths are down-hole, core interval measurements and true thickness are yet to be determined.

Table 1

Zone Hole ID Grid Line From
(m)
To
(m)
Interval
(m)
U3O8
(wt%)
R390E PLS13-072 330E 61.00 95.50 34.50 8.15
65.50 73.00 7.50 19.28
91.00 95.00 4.00 21.53
98.50 109.50 11.00 0.58
112.00 116.00 4.00 0.46
119.50 122.50 3.00 0.81
125.00 133.50 8.50 0.57
125.00 127.50 2.50 1.61
137.00 143.50 6.50 2.22
142.00 143.00 1.00 10.65
155.00 158.00 3.00 0.56
166.00 166.50 0.50 0.12
PLS13-073 435E 102.00 121.50 19.50 0.25
105.50 108.50 3.00 0.92
132.50 142.50 10.00 0.59
137.50 138.50 1.00 4.81
Composite Parameters
1. Minimum Thickness: 0.50m
2. Grade Cut-Off: 0.05 U3O8 (wt%)
3. Maximum Internal Dilution: 2.00m

Drillhole PLS13-072 (line 330E) was collared as a vertical hole and was completed at a depth of 209.0m. Mineralized zones as defined by assays of >0.05% U3O8 over >0.5m are present in discrete intervals over a 105.5m wide section (61.0m - 166.5m) each ranging in width from 0.5m to 34.5m wide. The main mineralized horizon was encountered from 61.0m - 95.5m and returned a composited interval of 8.15% U3O8 over 34.5m, including a high-grade core (65.5m - 73.0m) that returned 19.28% U3O8 over 7.5m. Basement bedrock was encountered at 55.7m depth, immediately below the overburden with no Devonian sandstone encountered above the basement. From 55.7m to 163.0m basement lithology consists of alternating sequences of moderate-to-steeply dipping pelitic gneiss and mylonites. Below 163.0m, the basement transitions to a semi-pelitic gneiss.

Drillhole PLS13-073 (line 435E) was collared as a vertical hole and was completed at a depth of 248.0m. Two zones of mineralization were intersected: 19.5m @ 0.25% U3O8 (102.0m - 121.5m) and 10.0m @ 0.59% U3O8 (132.5m to 142.5m. A thin cap of Devonian sandstone was encountered from 50.0m to 53.0m, overlying a quartz-feldspar granofel to a depth of 90.1m. The quartz-feldspar granofel was underlain by alternating sequence of pelitic gneiss and mylonites to the end of hole depth of 248.0m. The foliated pelitic gneiss and mylonite sequence is moderately clay altered to 226.0m and sulphide bearing from 235.5m to 248.0m.

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

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. For the present work, the exploration is still being operated as a Joint Venture under the direction of the Joint Venture Management Committee with Fission Uranium acting as the operator and further work is still planned by the Joint Venture Committee for targets on land to the SW of the discovery zone R00E.

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, PEng BC/SK, 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.

Contact Information

  • Robert (Bob) Meister
    Alpha Minerals Inc.
    (604) 629-0293
    (604) 684-9365 (FAX)
    Toll Free: 1-866-629-0293
    info@alphaminerals.ca