Alphamin Resources Corp.: Stage 1 Drilling Completed on Bisie Tin
- All results received for Stage 1 drilling programme at Bisie
- Latest results include:
-- 18.5m @ 2.21% Sn from 53m including 2.9m @ 6.27% Sn
-- 1.1m @ 6.23% Sn from 80m
-- 3.5m @ 4.06% Zn from 144.5m
- Drilling confirmed significant high grade tin mineralization at
Gecomines over of 250m
- Drilling confirmed tin, silver, zinc and lead mineralization at
Golgotha over of 500m
- Strong association of copper and tin mineralization
- REE mineralization (Lanthanum and Cerium) intersected in both
- Alphamin on track for discovery of highly significant tin
mineralization at Bisie
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/24/13 -- Alphamin
Resources Corp. (TSX VENTURE:AFM) ("Alphamin" or the "Company") has
received all results for its Stage 1 drilling programme on its wholly
owned Bisie Tin Project (Bisie Project) in east central Democratic
Republic of Congo (DRC). A total of 19 holes, including 1 re-drill,
were completed for 2,406m. Drilling has confirmed significant tin
mineralisation over a minimum of 250m at Gecomines and 500m at
Golgotha target areas.
Drill hole BGC007 drilled between BGC001 (12m @ 3.15% Sn from 53m and
3m @ 6.14% Sn from 80m) and BGC002 (25.85m @ 2.26% Sn from 47.7m)
reported 18.5m @ 2.21% Sn from 53m including 2.9m @ 6.27% Sn and 1.1m
@ 6.23% Sn from 80m. Drill hole BGC006 drilled 50m south of BGC001
reported 10.3m @ 0.98% Sn from 65.7m including 1.8m @ 3.12% Sn from
65.7m and 6.7m @ 1.11% Sn from 82.3m.
Recent results are shown in Table 1 and all significant intersections
are highlighted in Figures 1 and 2 and can be found on the website.
Consistent high grade tin mineralisation has been reported from 5
holes covering a minimum of 250m of strike along the structure.
Drilling further confirmed mineralised widths of 15-25m as opposed to
the narrow high grade chute (20m x 6m) mined historically by
artisanal miners. Mineralisation is exposed at surface along a ridge
elevated roughly 200m above the surrounding countryside and highly
conducive to open cut mining.
In addition tin mineralisation is often associated with copper
mineralisation with a best intercept of 9.4m @ 1.01% copper from 67m
The Company has now planned a 4,000m infill drilling programme over
this high grade priority zone. Tin mineralisation will be tested down
to a vertical depth of 200m below surface with holes drilled on a 50m
x 50m grid pattern. The Company expects to complete the drilling
programme with an early indication of the resource potential during
the third quarter of 2013.
Results were received from 2 additional holes drilled at Golgotha.
The southernmost drill hole, BGH009, reported 14.5m @ 0.64% Sn from
79.5m including 1.5m @ 3.22% Sn from 92.5m confirming mineralisation
is open to the south. Drill hole BGH005 (reported previously) was
drilled to the north in the Golgotha target area and reported 13m @
0.7% Sn from 58m including 3m @ 2.06% Sn from 58m. Drilling has
confirmed mineralisation is open to the north, south and at depth at
Golgotha and continues over a strike length of more than 500m. Grades
at Golgotha are generally lower than those reported at Gecomines to
the north although a high grade zone of 1.5m-5m has been reported
from most drill holes where grades vary from 1.2% - 5.8% Sn.
Significant copper was also intersected at Golgotha with a best
intercept of 35m @ 0.77% Cu from 53m including 10m @ 1.67% Cu from
58m in BGH005.
A second zone rich in silver, zinc and lead was intercepted above the
tin zone. Reportable grades are shown in Figure 2 and varied between
1.5m @ 57.4 g/t Ag from 144.5m to 19m @ 197ppm Ag from 61m; 12.5m @
3.14% Zn from 71m to 17.8m @ 14.11% Zn from 61m and 0.5m @ 6.23% Pb
from 144.5m to 14.75m @ 10.82% Pb from 61m.
A strong lead and zinc in soil anomaly has been defined over 4km
along the ridge. The tin zone has elevated lead and zinc values
suggesting tin, silver, zinc and lead mineralisation can be expected
over a further 2km to the south.
The Company will commence infill drilling at the Golgotha target area
and continue drilling along the structure to the north and south of
defined mineralisation to determine the true strike potential and to
identify any additional high grade tin target areas along the ridge
once the Stage 2 programme has been completed at Gecomines.
Management is extremely pleased with the results of the Stage 1
drilling programme which has confirmed the potential for the Bisie
Prospect to host significant tin mineralisation as well as several
other commodities including rare earth elements.
Lars Pearl, a qualified person under National Instrument 43-101, has
verified technical data disclosed in this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Cosme Maria Beccar Varela, President and CEO
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of
historical fact constitutes forward-looking information. Such
forward-looking information includes statements regarding the
Company's planned exploration programs. Actual results, performance
or achievements of the Company may vary from the results suggested by
such forward-looking statements due to known and unknown risks,
uncertainties and other factors. Such factors include, among others,
that the business of exploration for tin and other precious and base
minerals involves a high degree of risk and is highly speculative in
nature; few properties that are explored are ultimately developed
into producing mines; geological factors; the actual results of
current and future exploration; changes in project parameters as
plans continue to be evaluated, as well as those factors disclosed in
the Company's publicly filed documents.
There can be no assurance that any mineralisation that is discovered
will be proven to be economic, or that future required regulatory
licensing or approvals will be obtained. However, the Company
believes that the assumptions and expectations reflected in the
forward-looking information are reasonable. Assumptions have been
made regarding, among other things, the Company's ability to carry on
its exploration activities, the sufficiency of funding, the timely
receipt of required approvals, the price of tin and other precious
and base metals, that the Company will not be affected by adverse
political events, the ability of the Company to operate in a safe,
efficient and effective manner and the ability of the Company to
obtain further financing as and when required and on reasonable
terms. Readers should not place undue reliance on forward-looking
Alphamin does not undertake to update any forward-looking
information, except as required by applicable laws.
Drilling results are quoted as downhole intersections. True
mineralisation width is approximately 80% of intersection length for
all holes. The reported grades were determined using a cut-off grade
of 0.1% Sn, 25g/t Ag, 1% Zn, 1% Pb and 0.1% Cu to select significant
and anomalous intersections, with a maximum of 3m internal dilution
being incorporated into the composite where appropriate. A top cut of
60% was applied to Sn, 30% to Zn and 20% to Pb.
Half core samples for all drillholes were submitted to accredited ALS
Chemex laboratory in Johannesburg where samples were analyzed using
ME-XRF05 conducted on a pressed pellet with 10% precision
upper limit of 10 000ppm. Over limit samples were sent to Vancouver
for ME-XRF10 which uses a Lithium Borate 50:50 flux with an upper
detection limit of 60% and precision of 5%. ME-ICP61, HF, HNO3, HCL04
and HCL leach with ICP-AES finish was used for 33 elements including
base metals. ME-OG62 a four acid digestion was used on ore grade
samples for Pb, Zn, Cu & Ag. Industry accepted QA/QC checks were
applied including use of duplicates, blanks and standards.
To view the accompanying table and figures, please visit the
following link: http://media3.marketwire.com/docs/124afm1.pdf.
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 News
Alphamin Resources Corp.
Level 3, Gotthardstrasse 20, CH-6304
+41 41 711 02 81
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