ALPHA EXPLORATION LTD. Recent exploration has focused on the Company's district scale, orogenic Aburna Gold Prospect.
Following completion of separate 5km x 2km GAIP (Gradient Array Induced Polarization) and ground magnetic surveys in March to July this year, as well as 4,356m of trenching at the Aburna Gold Prospect, the Company has defined four primary targets covering >5km of strike. These include ('Target 1'), a large 2km long chargeability target and separate 400m diameter ground magnetic target, modelled to be an intrusive and potential porphyry at depth. The GAIP survey has also established other new, priority targets including a 2km combined chargeability and resistivity anomaly 1km east of existing drilling at Northeast Area prospect.
Separately, the completion of 19 additional trenches by the Company since March this year has confirmed a new trend of mineralisation directly north of the Northeast Area prospect which also coincides with a 1km long, linear chargeability target ('Target 3'). Significant mineralisation has now been intersected in trenching over a strike of >1km on the Northeast Area prospect.
Highlights
10km2 GAIP and ground magnetic surveys completed across Aburna Gold Prospect
Ground magnetics detect 400m diameter, potential intrusive/porphyry in Central Area beneath existing drilling
GAIP identifies multiple, large chargeability and resistivity targets close to existing drilling and trenching targets 4 new GAIP targets identified with >5km of strike to be drill tested
Trenching results define 1km strike extension to Northeast Area prospect
Drilling of priority GAIP + ground magnetics targets expected to recommence in Q4 2023
We believe that these results further underscore the district scale footprint of Aburna and clearly demonstrate the potential to both significantly extend gold mineralisation defined from current drilling, and to test multiple new priority targets. In particular, the team is highly encouraged by a new 2km long chargeability target which runs from the Aburna colonial gold mine through to Hill 52, as well as a separate major magnetic anomaly at Central Area, interpreted to be a potential porphyry at depth and modelled to be at least 400m in diameter. Previous drilling at Central Area by Alpha has repeatedly hit mineralisation including 18m @ 2.27 g/t Au (ABR031) from 38m, and 34m @ 1.5 g/t Au (ABR064) from 130m, but was not deep enough to intersect the modelled intrusive / porphyry body. This makes this a particularly compelling drill target to test in the upcoming drill program, expected to start later this year.
The Company is also pleased to report the results from 4,356m of trenching which have defined a new target at the Northeast Area prospect. We look forward to keeping shareholders updated with progress which includes the remaining drill results from recent drilling completed at Aburna.'
Trenching results confirm 500m strike extension to Northeast Area prospect
Since
Further trenching undertaken southwest of the Hill 52 prospect and northeast of the Northeast Area prospect has revealed well developed carbonate alteration within sheared meta-basaltic lithologies with abundant discordant, barren quartz veins; that is considered to be a favourable host rock for gold mineralization at Aburna and is typical of the upper portions of the Aburna gold-mineralized orogenic system and may therefore justify deeper drilling in these areas.
ABTRCH065 was a replicate trench excavated 100m northeast of ABTRCH063 and approximately 500m northeast of recent scout drilling (results pending) which is approximately 500m northeast of our earlier drilling at the Northeast prospect. These results suggest there may be over 1000m of mineralized strike length in the Northeast prospect.
Ground Gradient Array Induced Polarisation ('GAIP')
Induced Polarization (IP) is a geophysical method which indirectly measures the chargeability of the subsurface. Measuring the decaying voltage as a function of time after an injection of a direct current, it is possible to calculate the apparent chargeability. Many metals or sulfides have high chargeability while dry, unmineralized igneous/metamorphic rocks tend to have a very low chargeability.
The GAIP survey was completed between June and
Ground magnetic surveys are used to measure small variations in the Earth's magnetic field produced by shallow sources under the ground. The magnetic properties of ferrous objects, or naturally occurring materials such as ore bodies allows them to be detected and mapped by magnetic surveys.
The ground magnetics survey covered an area of 5km by 2km and was completed between March and
Sampling, Sub-sampling and Analysis
Alpha engaged an independent Consultancy, RSC Mining & Mineral Exploration (RSC) to develop a Standard Operating Procedure ('SOP') for trench and channel sampling in
Samples were crushed (to 90% passing 2.8 mm) and pulverised (to 85% passing 75 -microm). Two scoop samples were taken from the pulveriser bowl: approximately 120 g for laboratory analysis and approximately 100 g for portable X-ray fluorescence (pXRF) analysis. The coarse and pulp rejects were stored at a warehouse in
About Alpha
Alpha (TSXV: ALEX) is an exploration company that is rapidly advancing a number of important gold and base metal discoveries across its 100% owned, large (771 km2)
The Aburna Gold Prospect is an exciting new gold discovery where recent drilling has established a high-grade discovery with grades including 16m @ 14.07g/t Au and 23m @ 6.74 g/t Au. The Anagulu Gold-Copper Prospect includes recent drilling intersections of 108m @ 1.24 g/t Au & 0.60% Cu & and 49m @ 2.42 g/t Au & 1.10% Cu within a major porphyry unit mapped over at least 2km. The Company has also advanced the Tolegimja VMS Copper-Zinc-Gold Prospect and over 17 other gold prospects since listing in 2021.
The Company is managed by a group of highly experienced and successful professionals with long track records of establishing, building and successfully exiting a number of world class gold and base metals discoveries in
Contact:
Tel: +44 207 129 1148
Email: mhopley@alpha-exploration.com
Cautionary Notes
This press release is intended for distribution in
Forward-Looking Statements
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to future dataset interpretations, sampling, plans for its projects (including the Anagulu prospect), surveys related to Alpha's assets, and the Company's drilling program. Often, but not always, forward-looking statements or information can be identified by the use of words such as 'estimate', 'project', 'belief', 'anticipate', 'intend', 'expect', 'plan', 'predict', 'may' or 'should' and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, Alpha has made numerous assumptions including among other things, assumptions about general business and economic conditions and the price of gold and other minerals. The foregoing list of assumptions is not exhaustive.
Although management of Alpha believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements or information. These factors include, but are not limited to: risks relating to Alpha's financing efforts; risks associated with the business of Alpha given its limited operating history; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to exploration activities; those factors discussed under the heading 'Risk Factors' in the Final Prospectus and other risk factors as detailed from time to time. Alpha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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