Alpha Minerals JV Reports 43.0m of 1.93% U3O8, Including 5.0m of 9.91% U3O8 at R390E Zone, PLS, Athabasca Basin
14 Novembro 2013 - 5:00AM
Marketwired Canada
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 to report assay results from five holes in the R390E zone at their
Patterson Lake South (PLS) property, Saskatchewan. Holes PLS13-078, PLS13-081,
PLS13-085, PLS13-086, PLS13-087A all returned wide intersections of
mineralization at shallow depth and represent strong growth for the zone. Of
particular note is hole PLS13-086 which returned 43m of 1.93% U3O8, including
5.0m of 9.91% U3O8.
After reporting some of the much higher grade intersections reported elsewhere
in the PLS mineralized system, it is very important here to note that the
conversion of percentage amounts of uranium to pounds per metric tonne is
calculated by multiplying the percentage grade U3O8 by 22.04. This means that
the apparently modest 1.93 % grade reported above is approximately 42.5 lbs per
tonne. This is a high grade ore compared to the world average mined grade that
is in the order of 0.1 -0.15% U3O8 (2.2lbs per tonne - 3.3 lbs per tonne).
It represents a very much higher grade than most mined ores in the World and
occurs at relatively shallow depths. It is within the range of grade for many of
the early mines that made the Athabasca Basin famous for its first series of
long lived and productive uranium deposits, located around the margin of the
sedimentary rocks of the Basin.
Drilling Highlights include:
PLS13-086 (line 330E)
-- 43.0m (81.50m - 124.50m) of 1.93% U3O8 including:
-- 5.0m (101.0m - 106.0m) of 9.91% U3O8
PLS13-085 (line 360E)
-- 22.0m (82.50m - 104.50m) of 0.93% U3O8 including:
-- 4.0m (85.0m - 89.0m) of 4.07% U3O8
PLS13-078 (line 435E)
-- 30.0m (85.00m - 115.0m) of 0.66% U3O8 including:
-- 1.5m (96.50m - 98.0m) of 7.62% U3O8
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
----------------------------------------------------------------------------
Grid From To Interval U3O8
Zone Hole ID Line (m) (m) (m) (wt%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
R390E PLS13-078 435E 85.00 115.00 30.00 0.66
96.50 98.00 1.50 7.62
128.00 135.50 7.50 0.12
--------------------------------------------------------------------
PLS13-081 405E 106.00 124.50 18.50 0.19
127.00 129.50 2.50 0.06
--------------------------------------------------------------------
PLS13-085 330E 58.50 62.50 4.00 0.15
67.50 70.50 3.00 0.07
82.50 104.50 22.00 0.93
85.00 89.00 4.00 4.07
109.50 113.50 4.00 0.22
178.00 178.50 0.50 0.09
--------------------------------------------------------------------
PLS13-086 360E 75.50 78.50 3.00 0.06
81.50 124.50 43.00 1.93
101.00 106.00 5.00 9.91
127.00 127.50 0.50 0.07
151.50 152.00 0.50 0.06
154.00 154.50 0.50 0.08
173.50 174.00 0.50 0.08
--------------------------------------------------------------------
PLS13-087A 315E 45.50 49.50 4.00 0.28
52.50 56.00 3.50 0.12
63.50 72.00 8.50 0.40
74.50 75.00 0.50 0.06
79.50 80.00 0.50 0.11
82.00 82.50 0.50 0.10
92.50 109.00 16.50 0.12
112.50 113.00 0.50 0.08
----------------------------------------------------------------------------
Composite Parameters
1. Minimum Thickness: 0.50m
2. Grade Cut-off: 0.05 U3O8 (wt%)
3. Maximum Internal Dilution: 2.00m
Drillhole PLS13-078 (line 435E) was collared as a vertical hole and was
completed at a depth of 224.0m. A 30.0m wide mineralized zone (85.0m to 115.0m)
returned a composite interval of 0.66% U3O8. This included a higher grade
interval that returned 7.62% U3O8 over 1.5m (96.5m - 98.0m). A second interval
of mineralization returned 0.12% U3O8 over 7.5m (128.0m - 135.5m). The
mineralization in PLS13-078 appears to be up-dip by about 17m from hole
PLS13-073.
Drillhole PLS13-081 (line 405E) was collared as a vertical hole and was
completed at a depth of 230.0m. The collar is located approximately 10m grid
north of PLS13-064 (10.5m of 0.43% U3O8. An upper zone returned a value of 0.19%
U3O8 over 18.5m (106.0m - 124.5m) and 0.06% U3O8 over 2.5m (127.0m - 129.5m).
Drillhole PLS13-085 (line 330E) was collared as a vertical hole and was
completed to a depth of 224.0m. Multiple mineralized intervals were intersected
ranging in width from 0.5m to 22.0m within a 120.0m down hole depth (58.5m to
178.5m). The strongest interval returned a value of 0.93% U3O8 over 22.0m (82.5m
- 104.5m), which included a higher grade interval returning 4.07% U3O8 over 4.0m
(85.0m - 89.0m).
Drillhole PLS13-086 (line 360E) was collared as a vertical hole and was
completed to a depth of 263.0m. Multiple mineralized intervals were intersected
ranging in width from 0.5m to 43.0m within a 98.5m down hole depth (75.5m to
174.0m). The strongest interval returned a value of 1.93% U3O8 over 43.0m (81.5m
- 124.5m), which included a higher grade interval returning 9.91% U3O8 over 5.0m
(101.0m - 106.0m).
Drillhole PLS13-087A (line 315E) was collared as a vertical hole and was
completed to a depth of 227.0m. Multiple mineralized intervals were intersected
ranging in width from 0.5m to 16.5m within a 67.5m down hole depth (47.5m to
113.0m). The strongest interval returned a value of 0.40% U3O8 over 8.5m (63.5m
- 72.0m).
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 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. Drilling on Land SW of Discovery Zone R00E continues:
Additional funding, designed to extend the land based drilling programme beyond
the original budget limits, is showing encouraging initial results, following
the closure of the barge based drilling programme.
The property is accessible by road with primary access from all-weather Highway
955, which runs 74km north to the former Cluff Lake mine, (greater than 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
For corporate communications please contact:
Alpha Minerals Inc.
Robert (Bob) Meister
(604) 629-0293 or Toll Free: 1-866-629-0293
(604) 684-9365 (FAX)
info@alphaminerals.ca
www.alphaminerals.ca
Alpha Minerals (TSXV:AMW)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Alpha Minerals (TSXV:AMW)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
Notícias em tempo-real sobre Alpha Minerals da TSX Venture Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de Alpha Minerals Inc.