Alpha Minerals Inc. : Alpha Minerals Reports 34m of 4.92% U3O8, Including 12.5m at 12.38% U3O8 in Drill Hole PLS13-038, Patterson Lake South JV.

Sun Mar 24, 2013 11:00pm EDT

* Reuters is not responsible for the content in this press release.

For best results when printing this announcement, please click on the link below:

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130325:nHUGd0bp


Suite 408 - 1199 West Pender St.

Vancouver, B.C., V6E 2R1

Phone:  (604) 629-0293

Fax:  (604) 684-9365

Trading Symbols: TSX.V: AMW

Frankfurt: E2GA   



Sunday March 24th, 2013, Alpha Minerals Inc. ("Alpha" or "the Company") (TSX.V: AMW), and its
Joint Venture partner Fission Energy Corp. are pleased to report initial assay results from the
ongoing winter drill program on its Patterson Lake South ("PLS") Property.  These assay results
are from drill hole PLS13-038, the first hole drilled on the R390E zone.

 

PLS13-038 is part of the R390E zone located 385m drill grid east of the Patterson Lake discovery
hole PLS12-022 at the R000E zone (see news release February 9, 2013).  Composited drill hole
mineralized intersections for PLS13-038 returned two broad zones of uranium mineralization:

 

UPPER URANIUM ZONE = 34m (87.0m - 121.0m):

      §  34.0m @ 4.92% U3O8;     Grade times Thickness Product = 167.3

      §  Includes 12.5m @ 12.38% U3O8

      §  Including 0.5m @ 35.10% U3O8

LOWER URANIUM ZONE = 17.5m (126.5m - 144.0m):

      §  17.5m @ 0.96% U3O8;     Grade times Thickness Product = 16.8

      §  Includes 5.5m @ 2.07% U3O8

All intersections reported here are core length measurements and not true width measurements -
actual true widths may be smaller than core lengths.

 

Composited U3O8 mineralized intervals are summarized in Table 1 below Samples from the drill core
are split in half on site. Most 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.  The results show that the uranium is concentrated primarily two zones beginning at
relatively shallow depth in basement graphitic metapelitic lithology and with continuous
substantial widths. Uranium concentration is relatively consistent throughout the mineralized
sections. In addition, there are several narrower intervals of low grade uranium mineralization
between 165.0m - 181.0m.  Not all assay results have been received for PLS13-038- samples yet to
be received are from non-radioactive intervals. 

 

Table 1:  Composited Mineralized Intervals (Down-hole measurements)

    Zone       Hole ID    Grid Line   From (m)    To (m)  Interval (m)  U3O8 (wt%)  
    R390E     PLS13-038     385E        73.50     74.50       1.00         0.08     
                                        87.00     121.00      34.00        4.92     
                                           94.50   107.00         12.50       12.38 
                                         
106.00  
106.50         
0.50      
35.10 
                                       126.50     144.00      17.50        0.96     
                                          133.00   138.50          5.50        2.07 
                                       165.00     168.00      3.00         0.09     
                                       170.50     171.00      0.50         0.15     
                                       174.00     181.00      7.00         0.15     
 Composite Parameters                                                               
 1. Minimum Thickness: 0.50m                                                        
 2. Grade Cut-Off:  0.05 U3O8 (wt%)                                                 
 3. Maximum Internal Dilution:  2.00m                                               


Hole PLS13-038 is vertical, and completed to a depth of 221.6m. It is located 385m grid east of
discovery hole PLS12-022 at R00E Zone (8.5m @ 1.07% U3O8; see news release December 5, 2012). 
Drill hole geology is as reported previously (February 19, 2013) Base of till is at 48.8m depth. 
There is a thin (1.9m wide) cap of probable Devonian Sandstone was encountered which overlies the
semi-pelite gneiss hanging wall that constrains an intercalated package of pelite graphitic pelite
gneiss. Occasional pegmatite injections were observed throughout the pelite, graphitic pelite, and
semi-pelite units. In general, the strong mineralization is associated with flecks, blebs, clots,
and veins of pitchblende. Of note, wormrock- style uranium mineralization was observed for the
first time. Moderate to strong clay, chlorite, and hematite alteration were observed throughout
the mineralization.

 

Split core samples were submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005
Accredited Facility) of Saskatoon for assay analysis, which includes a 63 element ICP-OES, uranium
by fluorimetry (partial digestion), and boron.  Samples within mineralized intervals and any
samples which return >500ppm U, are assayed for weight % U3O8, (sic - Fission Energy Corp) as well
as fire assayed for gold.  Further assay results of some of the earlier drill holes have also been
received and will be released as compilation is completed.

 

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
http://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

 

For corporate communications please contact: 

                    Robert (Bob) Meister 

                        Alpha Minerals Inc.

                        Vancouver, BC

                        Phone: (604) 629-0293

                        Toll Free: 1-866-629-0293

                        Email: info@alphaminerals.ca mailto:info@alphaminerals.ca 

 

Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca
http://www.alphamiinerals.ca/ ) for further and 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.



 



----------------------------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Alpha Minerals Inc. via Thomson Reuters ONE


HUG#1687837

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.