VANCOUVER, British Columbia, Sept. 23, 2014 (GLOBE NEWSWIRE) -- ALPHA EXPLORATION INC. ("Alpha" or the "Company") (TSX-V:AEX) has completed and filed on SEDAR a technical report that outlines the results of recent exploration programs on its Middle Lake Project ("Middle Lake") located in the Cluff Lake mine camp of the western Athabasca Basin, northern Saskatchewan.
The report was prepared by Charlie T. Harper, PhD, PEng, PGeo, of Harper Geological Consulting & Exploration. Dr. Harper is an active field geologist with an extensive work history in the Athabasca Basin. The technical report recommends further work, including:
- Expansion of existing radon and gravity surveys.
- Follow-up diamond drilling based on integration of the radon and gravity work, targeting the potential up-ice source of high grade boulder fans on and southwest of the property.
Exploration History and Potential at Middle Lake
Alpha's exploration is focused on the source of historical high-grade uranium boulders on the property. One boulder located southwest of Skull Lake contains 16.9% U3O8 and 2880 ppb gold, values comparable to the D Zone at the past-producing Cluff Lake mine of AREVA. A heavy mineral separate from a bulk till sample collected near the boulder several years later yielded 2400 ppb gold.
Since acquiring Middle Lake, Alpha and its predecessors have carried out airborne magnetometer, radiometric, and VTEM surveys, a ground gravity survey, two different radon surveys and a helium (+H, Ne) gas survey.
Five areas were prioritized for the 2014 winter drill program, based on coincident radon and helium anomalies, with or without VTEM conductors, and most associated with gravity low features. Three areas occur along the southern gravity survey grid and two in the northern gravity grid. A total of 3,287 metres were completed in 31 drill holes (see news release April 1, 2014). Drill holes ML14-019, -021, and -024 to -029 all intersected sporadic anomalous gamma radioactivity (>500 cps) at the Donna zone in the northern grid area.
The drilling defined a zone approximately 40 m wide with moderate to strong bleaching and clay alteration in graphitic ultramylonite, including numerous intervals of Cluff Breccia. Anomalous U values, up to 254 ppm, were obtained in holes ML14-021, ML-025 and ML-029 associated with intervals of Cluff Breccia. The prospective zone strikes grid south, and warrants follow-up drilling to the north, along-strike from the Donna Zone.
About Middle Lake
Middle Lake is a joint venture with Alpha holding an 80-per-cent interest and Acme Resources Inc. holding a 20-per-cent 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 pounds of uranium from multiple open-pit and underground operations (Source: AREVA website).
About Alpha Exploration Inc.
Alpha is a junior mineral exploration company focused on uranium in the Athabasca Basin in northern Saskatchewan, Canada. Its common shares are listed on the TSX Venture Exchange under the symbol "AEX". The Company actively explores a portfolio of early-stage properties, and continually and proactively reviews opportunities for new properties, whether by staking, joint venture or acquisition.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved on behalf of the Company by Charlie T. Harper, PhD, PEng, PGeo, a qualified person.
On behalf of the Board of Directors of Alpha Exploration Inc.
Interim CEO and Chairman
For corporate communications please contact:
Robert (Bob) Meister
Alpha Exploration Inc.
Trading Symbol: TSX-V – AEX
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 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.
Source:Alpha Exploration Inc.