VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- Alpha Minerals Inc. (TSX VENTURE: AMW) ("Alpha" or "the Company") is pleased to announce that drilling is underway at the Patterson Lake South (PLS) property, a 50% Joint Venture with Fission Energy Corp (TSX-V: FIS), located in the southwest part of Saskatchewan's Athabasca Basin. Field preparations began in early January, upon formal approval of the program and budget (see Alpha news release January 15, 2013).
The current drilling program will include two diamond drill rigs. One will focus on the high-grade, shallow uranium discovery around drill hole PLS12-22 (see Alpha news releases dated November 5th, 12th,15th and Dec.5th, 2012). The second drill will be deployed to test several high-priority geophysical targets that are similar to that of the discovery area.
Drilling has started on land around the discovery, but will be mostly on the lake for the balance of the program. The program will continue for as long as winter ice conditions permit, which is expected to be for at least two months. Drill fence sections will be completed from the discovery area outwards in order to understand and model in two dimensions the geometries and controls on the high-grade uranium mineralization.
The exploration target at PLS is shallow, high-grade uranium mineralization hosted in basement rocks at approximately 50 meters below surface (ie. below glacial till and sediments). Uranium intersected to date is northeast of a uranium boulder field discovered at in 2011, one of the largest high-grade uranium boulder fields known in the Athabasca Basin district. The PLS property is prospective both in the immediate area of the discovery, and along several kilometers of a northeasterly striking corridor of coincident EM conductors and a broad resistivity anomaly.
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 the company by Ben Ainsworth, P.Eng. BC/SK, President and CEO for Alpha, a Qualified Person.
On behalf of the Board of Directors of Alpha Minerals Inc.
Ben Ainsworth, President, CEO and Director
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.
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.
Alpha Minerals Inc.
Robert (Bob) Meister
(604) 629-0293 or Toll Free: 1-866-629-0293
Most Popular Stories
- McDonald's Packages Coffee for National Distribution
- Castro-Blanco Joins Fifth Street Finance Board
- Ballmer Steps Down From Microsoft Board
- HTC Makes Windows Version of Flagship One Phone
- Rising Freight Prices Signal Global Recovery
- Sprint Cancels Framily, Rolls Out New Data Pricing Plan
- Eric Holder Bringing Civil Rights Reminders to Ferguson
- Russia Claims Ukraine Leaders Are Satanists, Jews or Maybe Even Scientologists
- Bob Marley Musical to Make Premiere in Baltimore
- Uber Hires Obama Campaign Manager David Plouffe