Alpha Minerals JV Intersects 43.0m of 6.93% U3O8 including 14.0m of 15.63% U3O8 at R780E Zone, PLS, Athabasca Basin

Oct 17, 2013

Alpha Minerals JV Intersects 43.0m of 6.93% U3O8 including 14.0m of 15.63% U3O8 at R780E Zone, PLS, Athabasca Basin

Alpha Minerals Inc.(TSX-V: AMW) and its 50-per-cent joint venture partner Fission Uranium Corp. (TSX-V: FCU) have released assay results from hole PLS13-080 on line 780E of the R780E zone, at their Patterson Lake South property, Northern Saskatchewan. The hole returned nine mineralized intervals, highlighted by 43.0 metres of 6.93 per cent triuranium octoxide including 14.0 m of 15.63 per cent U3O8 and 2.0 m of 26.73 per cent U3O8. With a grade by thickness value of 298.0 for this main mineralized interval, this is now the best mineralized hole to date at the R780E zone and shows this zone is delivering high-grade results similar to the R390E zone.

Assay highlights:

• Intercept of 43.0 m (130.0 m to 173.0 m) of 6.93 per cent U3O8, including:
• • Intercept of 2.0 m (144.0 m to 146.0 m) of 26.73 per cent U308;
  • Intercept of 14.0 m (155.0 m to 169.0 m) of 15.63 per cent U3O8;
• Highest assay in the interval: 49.8 per cent U3O8 over 0.5 m (145.0 m to 145.5 m).

Composited U3O8 mineralized intervals are summarized in the attached table. Samples from the drill core are split in half on site. Where possible, samples are standardized at 0.5-metre downhole 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 downhole, core interval measurements, and true thickness is yet to be determined.

Drill hole PLS13-080 was collared as a vertical hole and was completed at a depth of 347.0 m. Mineralized zones as defined by assays of greater than 0.05 per cent U3O8 over greater than 0.5 m are present in discrete intervals over a 194.0-metre-wide section (125.0 m to 319.0 m) each ranging in width from 0.5 m to 43.0 m wide. The main mineralized horizon was encountered from 130.0 m to 173.0 m and returned a composited interval of 6.93 per cent U3O8 over 43.0 m, including two high-grade cores (144.0 m to 146.0 m and 155.0 m to 169.0 m) that returned 26.73 per cent U3O8 over 2.0 m and 15.63 per cent U3O8 over 14.0 m, respectively. Basement bedrock was encountered at 54.0-metre depth, immediately below the overburden with no Devonian sandstone encountered above the basement. From 54.0 m to 170.6 m, basement lithology consists predominantly of a quartzitic gneiss with sequences of moderate-to-steeply dipping mylonites. Below 170.6 m, the basement transitions to a pelitic gneiss with alternating sequences of undifferentiated mylonites and pegmatite injections.

 

Composited Mineralized Intervals (Down-hole measurements)

Zone	Hole ID	Grid Line	From (m)	To (m)	Interval (m)	U3O8 (wt%)
R780E	PLS13-080	780E	125.00	127.00	2.00	0.14
			130.00	173.00	43.00	6.93
			144.00	146.00	2.00	26.73
			155.00	169.00	14.00	15.63
			175.50	180.50	5.00	0.28
			201.50	202.00	0.50	0.39
			230.50	231.00	0.50	0.37
			236.50	242.50	6.00	0.48
			245.00	247.50	2.50	1.98
			290.00	301.00	11.00	0.16
			318.00	319.00	1.00	0.09

Composite Parameters

1.     Minimum Thickness: 0.50m

2.     Grade Cut-off: 0.05 U3O8 (wt%)

3.     Maximum Internal Dilution: 2.00m

 

For additional comments about the summer 2013 program, please watch a corporate video at the Alpha Minerals website.

Patterson Lake South property

The 31,000-hectare (76,000-acre) PLS project is a 50/50 joint venture held by Alpha Minerals and Fission Uranium. The joint venture property is 100 per cent 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.

The property is accessible by road with primary access from all-weather Highway 955, which runs 74 kilometres north to the former Cluff Lake mine< (greater than 60 million pounds of U3O8 produced from multiple open-pit and underground mines), and passes through the claims covering the UEX - Areva Shea Creek discoveries located 58 km 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 by Garrett Ainsworth, PGeo, vice-president of exploration, a qualified person.

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