Alphamin Resources Corp.
TSX VENTURE : AFM

Alphamin Resources Corp.

January 30, 2012 17:59 ET

Alphamin Resources Corp.: Update on Bisie Tin Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2012) -

Bisie Tin Project (70% AFM)

Alphamin Resources Corp. (TSX VENTURE:AFM) ("Alphamin" or the "Company") is pleased to announce that it has completed a detailed review of all historical data on its Bisie Tin Project in the North Kivu Province, east central Democratic Republic of Congo ("DRC").

The high grade Bisie tin deposit on PR 5266 is located within the Walikale District roughly 140km west-northwest of the regional centre of Goma which is located on the border with Rwanda, which has excellent infrastructure being one of the best developed countries in Africa.

Historic production

Tin was first discovered at Bisie in 2004 and was mined illegally until recent times. The deposit is unique with grades of 50-95% SnO2 (tin oxide - cassiterite) which attracted a large informal mining and support community. Official recorded production figures for Bisie for 2009 were 6,840 tons of tin concentrate although 10,000 tons of concentrate are more likely due to under declaration to avoid high taxes imposed by the Government of DRC. The Government imposed a moratorium on small scale tin mining in 2010 which saw a mass movement of people off the property thereby creating a favorable environment for the Company to commence with detailed exploration programs at Bisie.

Work Completed

Work to date included a number of reconnaissance mapping and sampling trips, a literature search and compilation, satellite imagery interpretation and mineralogical and petrological studies.

Twenty one rock samples submitted to accredited ACME Laboratories, Vancouver, Canada for analysis. High grade tin results, 50-95% SnO2 (cassiterite) for Bisie ore are summarized in Table 1. Results also show significant tin mineralization in chlorite schist host rock confirming potential for a mineralized halo surrounding high grade veins. The mineralization at Bisie was determined to be unique from other known tin deposits in the world due to its high grade and presence of rare earth elements up to 0.5%.

Samples were collected from two areas roughly 900 metres apart on a 9 kilometre ridge. It is likely that additional tin occurrences will be discovered along the ridge from routine exploration.

Tin mineralization is within a set of north-south trending quartz/cassiterite veins which occupy a suite of fractures within sericite-chlorite schists which jointly cover 1,500 metres. Three sets of veins roughly 1 metre wide coalesce to form a single high grade chute at depth at the "Gecomines" workings to the north. The "Golgotha" workings to the south consist of a 10-20m wide set of veins which have been mined down to much shallower depths.

Interpretation of the satellite imagery which was confirmed by reconnaissance mapping shows that the granite contact lies roughly 3 kilometres to the west of the Bisie occurrence. The mineral composition of the ore reveals its low temperature origin and a hidden intrusion of fractionated granite which is a likely source of the quartz veining and associated cassiterite mineralization. Pure quartz vein and the dominant tin mineralization are part of the last phases of post-granite metallogenesis. It is highly likely therefore that mineralisation at Bisie will continue for considerable depths below surface. The deepest artisanal adit reached 165 metres with no decrease in the high grade of the ore.

Alphamin is in negotiations with several drilling contractors and intends to commence drilling during the first Quarter of 2012. Soil sampling and trenching programs are also planned to define the extent of tin mineralization along the ridge.

The Company has established an office in Goma, is fully staffed and is financially well positioned to commence with full scale exploration in early 2012.

Lars Pearl, a qualified person under National Instrument 43-101, has verified technical data disclosed in this release.

ON BEHALF OF THE BOARD OF DIRECTORS

Cosme Maria Beccar Varela, President and CEO

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein.

Sample No Workings Sample Description SnO2 (ppm ) SnO2 ( %)
CS 1003 Gecomines Massive cassiterite - high grade chute >20000
CS 1004 Gecomines Mineralized schist, talus block >10000
CS 1005 Gecomines Green chloritic host rock 753
CS 1007 Gecomines Green mineralized chlorite schist with casiterite pieces 4089
CS 1008 Gecomines Green chloritic host rock 8106
CS 1009 Gecomines Green chloritic host rock 2752
CS 1010 Gecomines Green, red, pink brown stained, disseminated cassiterite >20000 >90 %
CS 1011 Gecomines Hematite, limonite stained miner,chlorite schist 3695
CS 1012 Gecomines Vein, green, limonite stained chlorite schist with prominent cassiterite >20000
CS 1013 Gecomines Green rock with massive cassiterite and sugary quartz >20000 >80 %
CS 1014 Gecomines Green rock with massive cassiterite, limonite/hematite staining >20000 95 %
CS 1015 Gecomines Ochre sugary quartz with cassiterite laminae >20000 95 %
CS 1016 Gecomines Green brown mineralized chloritic schist, striated >10000 80 %
CS 1018 Gecomines Green/brown massive cassiterite impregnation, moderate limonite staining >20000 60 %
CS 1019 Gecomines Red cassiterite >20000 80 %
CS 1022 Golgotha Green gray massive cassiterite with chlorite >20000 80 %
CS1040 Gecomines Cassiterite impregnation, 30m fm entry to tunnel >20000 50 %
CS1042 Golgotha Central tunnel, cassiterite, chlorite, 15m fm entry >10000

Table 1: Tin results from historical workings at Bisie. Samples were analysed at ACME Laboratories in Vancouver, Canada where a 0.5 g split was digested in Aqua Regia and analysed by ICP Mass Spectrometry to report the precious and base metals

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.

Contact Information

  • Alphamin Resources Corp.
    205-16055 Fraser Highway
    Surrey, B.C. V4N 0G2
    (604) 507-2181
    (604) 507-2187 (FAX)
    www.alphaminresources.com