VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 25, 2014) -
- Two rigs drilling at the Mpama North1 Prospect
- 500m planned to test continuity of mineralisation down to 400m vertical depth over 300m of strike
- 1,900m planned to provide 7,000kg of metallurgical sample
- Regional geochemical soil and rock sampling programme in progress on PR5266
Alphamin Resources Corp. (TSX VENTURE:AFM) ("Alphamin" or the "Company") is pleased to announce that it has commenced deep diamond drilling on the Mpama North1 target on its wholly owned Bisie Tin Prospect (Bisie Project) in east central Democratic Republic of Congo (DRC). A Mineral Resource for the Mpama North Prospect was released by the Company on 26th November 2013. The Company will also obtain a bulk metallurgical sample by drilling 1,900m of PQ sized drill core (85mm diameter) as soon as the equipment arrives on site.
Best results received at Mpama North were from the four deepest holes which intersected mineralization at levels below 150m vertical depth indicating an increase of grade at depth. These results led to the suspension of the provisional economic assessment (PEA) until the distribution of tin mineralisation is better understood down to 400m vertical depth. During the current drill programme eight holes will be drilled 50m - 150m apart at 100m vertical intervals. The programme is expected to be completed during the 2nd Quarter.
A follow up infill drilling programme has been planned at 50m centres provided significant mineralisation is intersected in the initial 2,500m programme. Additional holes have also been planned to follow up on the high grade mineralised chute interpreted to plunge to the north at depth.
A metallurgical drilling programme will commence at Mpama North once large diameter (PQ) drilling equipment arrives on site. Twenty two holes ranging in depth from70m to 115m are planned over the potential portal area where representative economic grade material is expected. Seven thousand kilograms of mineralised core is required for detailed metallurgical test work which will be conducted at various institutions in South Africa. Drill holes will be closely spaced and will enable a better understanding of tin distribution at Mpama North. Completion of the programme is expected during the 2nd Quarter.
An extensive regional geochemical rock and soil sampling programme commenced in January 2014 with 500 samples collected to date. The programme will test the mineralised potential of the interpreted younger tin granites believed to be the source of mineralising fluids at Bisie and will also test additional "Bisie type" structures bordering on the younger granites as well as the remainder of the Bisie ridge to the south of recent sampling.
Jeremy Witley, a qualified person under National Instrument 43-101, has verified technical data disclosed in this release.
1 Note: The two main target areas at Bisie, previously referred to as Gecomines and Golgotha, have been renamed to Mpama North and Mpama South respectively.
ON BEHALF OF THE BOARD OF DIRECTORS
Ross Doyle, CFO
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 News Release.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-looking information. Such forward-looking information includes statements regarding the Company's planned exploration programs. Actual results, performance or achievements of the Company may vary from the results suggested by such forward-looking statements due to known and unknown risks, uncertainties and other factors. Such factors include, among others, that the business of exploration for tin and other precious and base minerals involves a high degree of risk and is highly speculative in nature; few properties that are explored are ultimately developed into producing mines; geological factors; the actual results of current and future exploration; changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents.
There can be no assurance that any mineralisation that is discovered will be proven to be economic, or that future required regulatory licensing or approvals will be obtained. However, the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration activities, the sufficiency of funding, the timely receipt of required approvals, the price of tin and other precious and base metals, that the Company will not be affected by adverse political events, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain further financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information.
Alphamin does not undertake to update any forward-looking information, except as required by applicable laws.
To view Figures 1-3, please click the following link: http://media3.marketwire.com/docs/929469_F1-3.pdf.