Alphamin Announces an Initial Inferred Mineral Resource for the Gecomines Prospect, Bisie Tin Project, Democratic Republic of...
26 Novembro 2013 - 3:01PM
Marketwired Canada
Highlights
-- Drilling at Gecomines has outlined an Inferred Mineral Resource of 4.0
million tonnes @ 3.5%Sn for 141,200 tonnes of contained tin at a 0.25%
cut-off
-- The Inferred Resource was defined over 400m strike to a depth of 220m
and is open at depth
-- Tin mineralisation has a strong chute geometry with high grade chutes
interpreted to plunge to the north
-- Best intercepts were reported from the deepest holes drilled to date
-- Preliminary Economic Assessment (PEA) has been suspended pending results
from additional deep drilling which still needs to be conducted
-- Monitoring project site security situation to resume drilling work
Alphamin Resources Corp. (TSX VENTURE:AFM) ("Alphamin" or the "Company") is
pleased to announce a maiden Inferred Mineral Resource at the Gecomines target
on its wholly owned Bisie Tin Prospect (Bisie Project) in east central
Democratic Republic of the Congo (DRC).
The Gecomines Target Inferred Mineral Resource currently comprises 4.0 million
tonnes @ 3.5%Sn for 141,200 tonnes of contained tin (at 0.25% Sn cut-off) as
shown in Table 1. Drilling was focused on 400m of the Gecomines target where
holes were drilled on a grid of approximately 50m x 50m down to depths of 220m
below surface. The best results were reported from the four deepest holes
drilled to date.
Table 1: Gecomines Mineral Resource at 0.25% Sn Cut-Off Grade, 26 November 2013
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Tonnes Sn Sn Tonnes Cu Zn Pb Ag
Category (Million) % (Thousand) % % % g/t
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Inferred 4.0 3.5 141.2 0.27 0.12 0.01 2.2
Total 4.0 3.5 141.2 0.27 0.12 0.01 2.2
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Notes:
1. All tabulated data has been rounded and as a result minor computational
errors may occur
2. Mineral Resources which are not Mineral Reserves have no demonstrated
economic viability.
3. Alphamin has a 100 percent interest in the Bisie Project. Accordingly,
the Gross and Net Attributable Inferred Mineral Resources are the same.
The Mineral Resource was prepared by an independent consulting company, The MSA
Group (MSA), of Johannesburg, South Africa and was estimated using The Canadian
Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines
(2003). The Mineral Resource is reported in accordance with the 2010 CIM
Definition Standards which have been incorporated by reference into National
Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101).
The Mineral Resource is classified into the Inferred category as shown in Table
1. A technical report prepared in compliance with NI-43-101 with respect to the
initial Mineral Resource estimate will be filed on www.sedar.com.
The Mineral Resource was constrained to a maximum depth of approximately 250m
below surface, the high grade mineralisation being open at depth. The top 50m
has been depleted by artisanal mining activity and any mineralisation remaining
in this area was not included in the Mineral Resource.
The Mineral Resource estimate was based on Sn, Cu, Pb, Zn and Ag assays and
density measurements from 28 of the 37 diamond holes drilled at Gecomines. Drill
holes not included in the estimate were within the top 50m depleted zone or
drilled to the north and south of the main zone of mineralisation. A three
dimensional grade block model was created using Ordinary Kriging. Figure 1 shows
the general geometry of the mineralisation while Table 2 below details
analytical and modelling methods.
To view Figure 1 please click the following link:
http://media3.marketwire.com/docs/AMFig1.pdf
The Company will now continue drilling below the high grade mineralisation
intersected at Gecomines to confirm grade trends at depth. The current high
grade Inferred Mineral Resource was greatly influenced by the three deepest
holes. Further drilling will also test the extent of mineralisation at the
Golgotha target situated 750m to the south.
Preliminary Economic Assessment (PEA)
The PEA has been suspended until a revised geological model has been constructed
that will include representative intersections of the mineralisation anticipated
to be intersected below the current level of drilling. It is expected that these
results will have a material impact on the underground mine design and optimal
stoping method.
Initial work has concluded that a non-selective bulk underground mining method
will be required, which can be expected to deliver mine grades substantially
below those stated above.
Security
The Company has experienced delays in exploration and drilling since August 2013
when all staff were evacuated due to hostile rebel activities in the immediate
surrounds. The Company field camp was raided on 9 November by a group of
villagers who caused damage to company equipment and assets. The Company will
assess the security situation on site and work will only resume once calm has
been restored to the area and staff can return to the project site safely.
ON BEHALF OF THE BOARD OF DIRECTORS
Klaus Eckhof, Chief Executive Officer
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.
COMPETENT PERSON'S STATEMENT
The Mineral Resource estimate has been completed by Mr. J.C. Witley (BSc Hons,
GDE) who is a geologist with 25 years' experience in base and precious metals
exploration and mining as well as Mineral Resource evaluation and reporting. He
is a Principal Resource Consultant for The MSA Group (an independent consulting
company), is a member in good standing with the South African Council for
Natural Scientific Professions (SACNASP) and is a Member of the Geological
Society of South Africa (GSSA).Mr Witley has the appropriate relevant
qualifications and experience to be considered a "Qualified Person" for the
style and type of mineralisation and activity being undertaken as defined in
National Instrument 43-101 Standards of Disclosure of Mineral Projects.
Table 2: Summary of resource estimate and reporting criteria
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Drilling All drillholes were diamond drill cored and drilled from
techniques surface (mostly NQ) at angles of between -60 degrees and
-75 degrees.
In the Mineral Resource area, 28 of the 37 drillholes
completed were used for the grade estimate, four of the
holes intersected mineralisation to the north and south of
the high grade zone and five of the shallow drillholes
intersected artisanal workings. The data from these nine
holes were not used for grade estimation.
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Logging All of the drillholes were geologically logged by
qualified geologists. The logging was of an appropriate
standard for grade estimation.
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Drill sample Core recovery in the mineralised zones was observed to be
recovery very good and was on average 95%. Five of the shallow
drillholes intersected artisanal workings and so recovery
of the high grade mineralisation was poor and therefore
the data from these holes were not used for grade
estimation.
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Sampling Half core samples were collected continuously through the
methods mineralised zones after being cut longitudinally in half
using a diamond saw. Drillhole samples were taken at
nominal 1 m intervals, which were adjusted to smaller
intervals in order to target the vein zones. Lithological
contacts were honoured during the sampling. MSA's
observations indicated that the routine sampling methods
were of a high standard and suitable for evaluation
purposes.
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Quality of The assays were conducted at ALS Chemex in Johannesburg
assay data and where samples were analyzed using fused disc ME-XRF05
laboratory conducted on a pressed pellet with 10% precision and an
tests upper limit of 10 000ppm. Over limit samples were sent to
Vancouver for ME-XRF10 which uses a Lithium Borate 50:50
flux with an upper detection limit of 60% and precision of
5%.
ME-ICP61, HF, HNO3, HCL04 and HCL leach with ICP-AES
finish was used for 33 elements including base metals. ME-
OG62 a four acid digestion was used on ore grade samples
for Pb, Zn, Cu & Ag.
External quality assurance of the laboratory assays for
the Alphamin samples was monitored by the insertion of:
- Blank samples collected from quartz vein on site at a
rate of approximately 3% of the total sample set.
- Field duplicates consisting of quarter core on
approximately 4% of the total sample set.
- Certified reference materials (CRM's): Four CRMs were
used. Combined, these formed approximately 3% of the
total sample set.
The QAQC measures used by Alphamin revealed the following:
- The high grade CRM (31.42% Sn) indicated that an over-
assay of approximately 8% may have occurred. The lower
grade CRMs (less than 2% Sn) indicated that the Sn and Cu
assays were accurate consistently within two standard
deviations of the accepted CRM value.
- The field duplicates confirmed the nuggetty nature of the
tin mineralisation. The majority of the duplicate assays
were within 20% of the field sample.
- Blank samples indicated that no significant contamination
occurred for most of the programme. Seven blank assays
returned Sn values of between 0.005% and 0.02%, which is
not considered material to the project.
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Verification of MSA observed the mineralisation in the cores and compared
sampling and it with the assay results. MSA found that the assays
assaying generally agreed with the observations made on the core.
MSA took ten quarter core field duplicates for independent
check assay, which confirmed the original sample assays
within reasonable limits for this style of mineralisation.
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Location of All of the Bisie surface drillhole collars have been
data points surveyed by a qualified surveyor using a differential GPS.
Down-hole survey's were completed for all of the holes
drilled at Gecomines.
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Tonnage factors Specific gravity determinations were made for the
(in situ bulk drillhole samples using the Archimedes principal of weight
densities) in air versus weight in water. Where no density data were
available, a regression equation was applied. Specific
gravity was interpolated into the block model using
Ordinary Kriging.
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Data density Drillholes intersected the Mineral Resource at between
and approximately 50 m by 50 m and 100 m by 100 m spacing in
distribution the plane of mineralisation.
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Database Data were stored in an Excel database. MSA completed spot
integrity checks on the database and is confident that the Alphamin
database is an accurate representation of the original
data collected.
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Dimensions The area defined as a Mineral Resource extends
approximately 400 m along strike by 200 m on dip. The
Mineral Resource is between approximately 10 m and 20 m
thick, although narrower zones occur to the north.
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Geological The mineralised intersections in drill core are clearly
interpretation discernible. The Mineral Resource is interpreted to occur
as two sub-parallel locally complex vein systems of
mineralisation dipping 65 degrees to the east, in places
separated by a barren zone several metres wide. The
mineralised zones and intermittent waste middling are
composed of chlorite schist that is the result of intense
alteration that may represent a distinct stratigraphic
interval. The Mineral Resource is affected by a number of
faults that are sub-parallel to the mineralisation causing
local displacement. The precise locations of faults have
not been determined.
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Domains The mineralisation was modelled as a thick slab containing
irregular vein style mineralisation. In places a waste
interval was defined by Sn grades of less than 0.25%. A
hard boundary was used to select data for estimation in
order to honour the sharp nature of vein boundaries.
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Compositing Sample lengths were composited to 2 m.
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Statistics and The coefficient of variation for Sn composites is between
variography 1.5 and 2.1, the histograms being positively skewed.
Normal Scores variograms were calculated in the plane of
the mineralisation layering, down-hole and across strike.
Variogram ranges were 120 m in the in-plane direction and
10 m across strike.
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Top or bottom Top cuts were applied to outlier values that were above
cuts for grades breaks in the cumulative probability plot.
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Data clustering Drillhole intersections were not clustered, the grid being
approximately regular.
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Block size 4 mN by 40 mE by 40mRL three dimensional block models as
optimised using a Kriging Neighbourhood Analysis. The
blocks were rotated into the plane of mineralisation prior
to estimation.
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Grade The accumulation of grade and density were estimated using
estimation Ordinary Kriging. Estimation parameters were optimised
using a Kriging Neighbourhood Analysis.
A minimum number of 8 and a maximum of 16 two metre
composites were required to be selected within 120 m of a
block in order to achieve an estimate. Grades were
extrapolated in the plane of the mineralisation for a
maximum distance of 40 m from the nearest drillhole
intersection, this being considered by MSA to be the limit
of reasonable geological interpretation for this style of
mineralisation, it being possible that the mineralisation
could terminate abruptly.
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Resource The mineralisation was classified as Inferred Mineral
Classification Resources if block estimates were achieved with the
required minimum number of samples within 40 m in the dip
direction of the nearest borehole. In the strike
directions half the distance between the high grade
intersections and peripheral lower grade intersections was
applied, this being less than 40 m.
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Mining Cuts A minimum true thickness of 2 m was applied. The
considerable thickness and steep dip implies that the
Mineral Resource can be extracted using established
underground mining methods.
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Metallurgical The tin mineralisation occurs as cassiterite, an oxide of
factors or tin (SnO2). The Cu, Zn and Pb mineralisation occurs as
assumptions sulphides. Each of these minerals is amenable to standard
processing techniques for each metal.
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Legal Aspects Alphamin through its wholly owned DRC subsidiary, Mining
and Tenure and Processing Congo Sprl, has a "Certificat de
Recherches" for PR 5266 valid to November 2014 after which
it will be renewed with a 50% reduction on the licence
area
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Audits and The following review work was completed by MSA:
reviews
- Inspection of approximately 25% of the Alphamin cores
used in the Mineral Resource estimate
- Database spot check
- Inspection of drill sites
- Independent check sampling
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FOR FURTHER INFORMATION PLEASE CONTACT:
Alphamin Resources Corp.
Level 3, Gotthardstrasse 20, CH-6304
Zug, Switzerland
Tel: +41 41 711 02 81
www.alphaminresources.com
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