VANCOUVER, Canada, June 16, 2014 (GLOBE NEWSWIRE) -- ALPHA EXPLORATION INC. ("Alpha" or the "Company") (TSX-V:AEX) is pleased to announce its exploration plans on its three priority Athabasca Basin uranium projects for the Summer and Fall of 2014.
Ben Ainsworth, Alpha's President and CEO, said, "Alpha looks forward to implementing its exploration plans over the next several months. Making new discoveries demands a great deal of perseverance, and we believe that Alpha has a strong portfolio of projects and exploration methods that can locate new uranium mineralization."
Alpha is pleased to have engaged Discovery Consultants ("Discovery") of Vernon, BC, now under contract to manage Alpha's 2014 work programs. As registered professional geologists, Discovery's geologists are "Qualified Persons" as defined by Canadian stock exchanges and the British Columbia Securities Commission, and are qualified to write National Instrument 43-101 ("NI 43-101") compliant technical reports. The senior members of Discovery's team have extensive uranium exploration experience in the Athabasca Basin, and in several international jurisdictions. The depth of Discovery's uranium experience is considered by Alpha to provide strong technical support to the Alpha management team.
2014 Exploration Plans and Properties Status:
Carpenter Lake Project ("Carpenter Lake")
Carpenter Lake, presently under option from Noka Resources Inc. ("Noka") lies approximately 85 km west of the past-producing Key Lake mine infrastructure and mill complex. The Carpenter Lake property extends for approximately 25 km along the southern extension of the Cable Bay Shear Zone.
Recent work completed, and work planned by Alpha in 2014 includes:
Radon-in-water and lake sediment geochemical sampling (see Alpha's news release dated May 21, 2014) has outlined several areas of interest for Summer 2014 evaluation. The radon-in-water and lake sediment uranium anomalies found in the 2014 survey are important indicators for locating potential buried uranium mineralization.
A property-wide VTEM airborne survey was completed by Aeroquest Airborne in February 2014. Some of the recently-identified geochemical anomalies lie close to cross-cutting geological structures and conductors interpreted by Condor Geophysics from the VTEM survey.
An airborne gamma spectrometer survey is contracted for execution by Goldak Airborne Surveys in June 2014, or as soon as drier ground conditions allow for better gamma radiation signal response. This airborne gamma survey has the capability to identify radioactive boulders similar to those found on the Patterson Lake South ("PLS") Alpha Minerals Inc.–Fission Uranium Corp. joint venture in 2011, prior to the discovery of high-grade uranium by drilling in late 2012. A boulder prospecting program is planned to follow up on the results of the airborne gamma survey.
A radon-in-soil survey is planned in 2014 for up-ice targets from radon-in-water and lake sediment uranium anomalies.
Alpha is presently earning a 60% interest in Carpenter Lake by incurring exploration expenditures of $1.25 million, after which a joint venture with Noka will commence. Noka and Alpha have engaged Allan Armitage, Ph.D., P. Geol., to produce a NI 43-101 compliant technical report for Carpenter Lake. The recommendations in the technical report will be used to develop drill targets for a Winter 2015 drill program.
Hook Lake Project ("Hook Lake")
Hook Lake, 100% owned by Alpha, is located approximately 15 km northeast of the PLS uranium discovery and lies adjacent to the Purepoint Uranium Inc. ("Purepoint") joint venture with AREVA Resources Canada ("AREVA") and Cameco Corporation ("Cameco"). Alpha's Hook Lake claims straddle conductors related to the highly-prospective PLS and Derkson Lake conductor corridors. The PLS conductor corridor hosts the high-grade PLS mineralization, and further to the northeast, the "Arrow" discovery made by NexGen Energy Ltd. in 2014. Purepoint has recently reported the "Spitfire" discovery of 0.32% U3O8 over 6.2 m, including 1.1% U3O8 over 0.5m, near the common boundary with Alpha's property and to the northeast of the historical Derkson Lake showing (drillhole DER-04: 0.28% U3O8 over 2.5m, reported by Cameco in 1978).
Alpha has received an exploration permit for ground geophysics and drilling at Hook Lake, and is planning exploration to better define drill targets for the winter of 2015 along the prospective conductor corridors.
Middle Lake Project ("Middle Lake")
Middle Lake is a joint venture with Alpha holding an 80% interest and Acme Resources Inc. holding a 20% carried interest. Alpha considers Middle Lake to be a highly-prospective property located near the boundaries of the past-producing Cluff Lake uranium mine (operated from 1980 to 2002 by AREVA), which produced approximately 62 million lbs of uranium from multiple open pit and underground operations (Source: AREVA website). Assays and analytical results from Alpha's 2014 winter drill program are expected shortly. Strong alteration with elevated gamma radiation was noted in a number of the 2014 holes, the results of which are being evaluated by Alpha's consulting geologist Charlie Harper, Ph.D. Dr. Harper has been engaged by Alpha to produce a NI 43-101 compliant technical report scheduled for completion in June 2014. Follow-up drilling is being planned for Middle Lake in the 2015 winter season.
About Alpha Exploration Inc.
Alpha Exploration Inc. is a mineral exploration company whose uranium experience was developed with the discovery of the Roughrider deposits and subsequently the Patterson Lake South discovery in 2012 via Alpha Mineral's successful JV with Fission Uranium. The principals of the Company comprise a team that were involved in the discovery and development of those world class deposits. The Company started with a principal focus in the exploration and development of its Mikwam Gold Property in Ontario, and that focus has been moved to development of uranium properties in the Athabasca Basin in northern Saskatchewan, Canada. Common Shares are listed on the TSX Venture Exchange under the symbol "AEX." Additional information about Alpha is available on Alpha's website at www.alpha-aex.com or under its profile on SEDAR at www.sedar.com.
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 Exploration Inc. by Benjamin Ainsworth, P.Eng., President, CEO, a qualified person.
On behalf of the Board of Directors of Alpha Exploration Inc.
President, CEO and Director
Neither 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 exploration and 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 to 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
CONTACT: For corporate communications please contact: Robert (Bob) Meister Toll Free: 1-866-629-0293 Trading Symbol: TSX-V - AEXSource:Alpha Exploration Inc.