Mining Stock News: Alpha Exploration (TSXV: ALEX) Commences Follow-Up Drilling at 3 Prospects on Its Kerkasha Property, Eritrea
Calgary, Alberta - July 7, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Alpha Exploration Ltd. (TSXV: ALEX) ("Alpha" or the "Company") is pleased to announce that it has commenced follow-up drilling programs at three of the most important prospects on its Kerkasha Project (Eritrea). These prospects are the Aburna gold orogenic prospect, the Tolegimja copper-zinc-gold volcanogenic-massive-sulphide prospect and the Anagulu gold-copper porphyry prospect. The drill program will total approximately 1,000m of diamond drilling and 3,000m of reverse-circulation drilling.
At Aburna, Alpha will test beneath and along the interpreted strike extension of the gold intercepts returned from the Hill 52 Target Area where drill holes ABR-05 returned 15m averaging 5.85g/t gold and ABR-018 showed 22m averaging 4.50g/t gold. At the Celebration Hill Target Area drilling will follow-up on hole ABR-008 which returned 10m averaging 5.24g/t gold. A third target area known as Aburna Northeast, will also be drill tested where rock chip sampling, channel sampling (e.g., 25m averaging 3.71g/t, 9m averaging 4.1g/t gold) and trench sampling (10m averaging 3.28g/t gold) have returned very promising results.
At Tolegimja, a volcanogenic-massive-sulphide ("VMS") copper-zinc-gold prospect, Alpha will test along the interpreted strike extensions of massive sulphide mineralisation intersected in drill holes TLR-003 (7m averaging 2.01% zinc, 0.44% copper and 4m averaging 1.34% zinc, 0.95% copper) and TLR-009 (26m averaging 1.67% zinc, 0.38% copper). Alpha will also drill test to depth, a strong 2km long Induced Polarization chargeability anomaly that is on strike approximately 600m to the southwest of holes TLR-003 and TLR-009, to see if the mineralisation intercepted in these holes is related to the chargeability anomaly.
In addition, Alpha will drill a deep diamond hole at their Anagulu porphyry copper-gold prospect, to test an Induced Polarization chargeability anomaly in the southern part of the prospect. This anomaly is coincident with elevated copper and molybdenum in previous reverse-circulation drill holes in this area and is interpreted to be the source of the copper and gold mineralisation identified at surface over a 2km strike length in soils, rock chip sampling trenching and limited drilling.
Michael Hopley, Alpha President & CEO said, "This next round of drilling will significantly advance Alpha's knowledge and understanding of our 3 best prospects on the Kerkasha exploration license. Kerkasha is proving to be very prospective and we are proud of the fact that over the past 2 years, as a junior exploration company we have discovered 3 different styles of mineralisation, orogenic gold, VMS and porphyry copper-gold on one license area."
Aburna Orogenic Gold Prospect
The Aburna gold prospect is located on the western side of the Company's large Kerkasha Exploration License (see Map 1). Gold was mined at Aburna in the 1920s by Italian colonial miners and more recently by local artisanal miners. Earlier work by Alpha has identified gold mineralisation over a very large area of approximately 4 km by 2 km northeast of the colonial mine. Gold mineralisation at Aburna is orogenic-type associated with three major NE-SW oriented shear zones. Recent work by Alpha has included continuous 1m long sub-surface channel and trench sampling (See press releases on 4th November 2021, 10th February 2022). Results from this work defined six prospective sub-areas namely: Hill 52, Saddle Workings, Channel 12 NE, Celebration Hill, Pad 2 and Aburna Central. In addition, consultant structural Geologist Dr. Ghislain Tourigny completed detailed geological mapping of all these areas. A maiden RC drill program was completed in Q1 2022 and returned very positive results at the Hill 52, Celebration Hill and Central areas (See press releases on 3rd May, 25 May and 27 June 2022).
Tolegimja VMS Prospect
The Tolegimja prospect is a virgin discovery by Alpha geologists in the northeast of the Kerkasha Project approximately 50km south-southeast of the highly successful Bisha VMS copper-zinc-gold mine (see Map 1) and was made during an initial property-wide soil geochemical survey in 2018. Prospect scale rock-chip, soil sampling and detailed geological mapping indicate the prospect is a bimodal-mafic copper-zinc-gold VMS occurrence with high copper values at the surface located over the contact between felsic and mafic rocks.
An Induced Polarization (IP)-Resistivity geophysical survey completed in Q3 2021, identified a strong chargeability anomaly over a 2km strike length immediately beside and beneath anomalous copper-and zinc values at surface and directly beneath a mapped rhyolite unit. Rhyolite is considered a prime host for bimodal-mafic copper-zinc-gold VMS mineralization in the Arabian-Nubian shield.
A limited initial drill program of 9 reverse-circulation drill holes (TLR-001 to TLR-009) was completed at Tolegimja in February this year for a total of 1,862 meters (See press release 27 May 2022). Drill holes TLR-003 and TLR-009 intersected massive and semi-massive mineralisation and were drilled 500m and 650m respectively, to the northeast of the 2km long chargeability/rhyolite/surface copper-zinc anomalies mentioned above and were designed to test a gossanous outcrop extending over 100m x 100m with an associated chargeability anomaly. The results of this work indicate the possibility that there could be VMS mineralisation along this whole 2.7km trend.
Anagulu Gold-Copper Porphyry Prospect
Anagulu is located in the southwest part of the Kerkasha exploration license (see Map 1) and is a virgin discovery by Alpha geologists during an initial property-wide soil geochemical survey in 2018. Prospect scale rock-chip, soil sampling, trenching, Induced Polarization (IP) geophysical survey and drilling show a very large - 2 km. long gold/copper geochemical anomaly with a coincident IP chargeability anomaly. The discovery drill hole at Anagulu drilled in January 2019 showed a result of 49m averaging 2.42 g/t gold, 1.10% copper and 6.83 g/t silver.
Dr. Richard Sillitoe has examined drill core from Anagulu and has stated, "It is confirmed that Anagulu is undoubtedly a porphyry gold-copper system centered on a distinctive, dyke-like porphyry intrusion."
For more details on the Anagulu prospect, see Alpha news releases on March 3 and December 9, 2021.
Alpha is an exploration company listed on the TSX-V exchange under the symbol ALEX that has made 3 important discoveries in 2 years at its Kerkasha Project in Eritrea:
- Aburna orogenic gold
- Tolegimja volcanogenic-massive-sulphide (VMS)
- Anagulu porphyry gold-copper
The company is managed by a group of highly experienced and successful professionals with many years of experience carrying out exploration and resource development programs in Eritrea and Sudan and is focused on the discovery of world class economic gold and base metals deposits in the highly prospective Arabian-Nubian shield, on either side of the Red Sea. Alpha currently holds a 100% interest in the large (771 km2) Kerkasha Exploration License in southwest Eritrea, located 135 km west-southwest of the capital city of Asmara. Since acquiring the property in January 2018, the company has spent approximately CAD$13million on exploration and identified 17 in prospects of which six have been drilled to date.
For further information go to the Alpha webpage at www.alpha-exploration.com or contact:
President and Chief Executive Officer
Alpha Exploration Ltd.
Tel: +44 207129 1148
All scientific and technical information in this press release has been reviewed, verified, and approved by Michael Hopley, President, Chief Executive Officer of Alpha and a "qualified person" for the purposes of national Instrument 43-101-Standards of Disclosure for Mineral Projects.
This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.
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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