ALPHA EXPLORATION INC. ("Alpha" or the "Company")
(TSX-V:AEX) is pleased to announce its exploration plans on its
three priority Athabasca Basin uranium projects for the Summer and
Fall of 2014.
Ben Ainsworth, Alpha's President and CEO, said, "Alpha looks
forward to implementing its exploration plans over the next several
months. Making new discoveries demands a great deal of
perseverance, and we believe that Alpha has a strong portfolio of
projects and exploration methods that can locate new uranium
mineralization."
Alpha is pleased to have engaged Discovery Consultants
("Discovery") of Vernon, BC, now under contract to manage Alpha's
2014 work programs. As registered professional geologists,
Discovery's geologists are "Qualified Persons" as defined by
Canadian stock exchanges and the British Columbia Securities
Commission, and are qualified to write National Instrument 43-101
("NI 43-101") compliant technical reports. The senior members of
Discovery's team have extensive uranium exploration experience in
the Athabasca Basin, and in several international jurisdictions.
The depth of Discovery's uranium experience is considered by Alpha
to provide strong technical support to the Alpha management
team.
2014 Exploration Plans and Properties
Status:
Carpenter Lake Project ("Carpenter Lake")
Carpenter Lake, presently under option from Noka Resources Inc.
("Noka") lies approximately 85 km west of the past-producing Key
Lake mine infrastructure and mill complex. The Carpenter Lake
property extends for approximately 25 km along the southern
extension of the Cable Bay Shear Zone.
Recent work completed, and work planned by Alpha in 2014
includes:
Radon-in-water and lake sediment geochemical sampling (see
Alpha's news release dated May 21, 2014) has outlined several areas
of interest for Summer 2014 evaluation. The radon-in-water and lake
sediment uranium anomalies found in the 2014 survey are important
indicators for locating potential buried uranium
mineralization.
A property-wide VTEM airborne survey was completed by Aeroquest
Airborne in February 2014. Some of the recently-identified
geochemical anomalies lie close to cross-cutting geological
structures and conductors interpreted by Condor Geophysics from the
VTEM survey.
An airborne gamma spectrometer survey is contracted for
execution by Goldak Airborne Surveys in June 2014, or as soon as
drier ground conditions allow for better gamma radiation signal
response. This airborne gamma survey has the capability to identify
radioactive boulders similar to those found on the Patterson Lake
South ("PLS") Alpha Minerals Inc.–Fission Uranium Corp. joint
venture in 2011, prior to the discovery of high-grade uranium by
drilling in late 2012. A boulder prospecting program is planned to
follow up on the results of the airborne gamma survey.
A radon-in-soil survey is planned in 2014 for up-ice targets
from radon-in-water and lake sediment uranium anomalies.
Alpha is presently earning a 60% interest in Carpenter Lake by
incurring exploration expenditures of $1.25 million, after which a
joint venture with Noka will commence. Noka and Alpha have engaged
Allan Armitage, Ph.D., P. Geol., to produce a NI 43-101 compliant
technical report for Carpenter Lake. The recommendations in the
technical report will be used to develop drill targets for a Winter
2015 drill program.
Hook Lake Project ("Hook Lake")
Hook Lake, 100% owned by Alpha, is located approximately 15 km
northeast of the PLS uranium discovery and lies adjacent to the
Purepoint Uranium Inc. ("Purepoint") joint venture with AREVA
Resources Canada ("AREVA") and Cameco Corporation ("Cameco").
Alpha's Hook Lake claims straddle conductors related to the
highly-prospective PLS and Derkson Lake conductor corridors. The
PLS conductor corridor hosts the high-grade PLS mineralization, and
further to the northeast, the "Arrow" discovery made by NexGen
Energy Ltd. in 2014. Purepoint has recently reported the "Spitfire"
discovery of 0.32% U3O8 over 6.2 m, including 1.1% U3O8 over 0.5m,
near the common boundary with Alpha's property and to the northeast
of the historical Derkson Lake showing (drillhole DER-04: 0.28%
U3O8 over 2.5m, reported by Cameco in 1978).
Alpha has received an exploration permit for ground geophysics
and drilling at Hook Lake, and is planning exploration to better
define drill targets for the winter of 2015 along the prospective
conductor corridors.
Middle Lake Project ("Middle Lake")
Middle Lake is a joint venture with Alpha holding an 80%
interest and Acme Resources Inc. holding a 20% 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 lbs of uranium from multiple open
pit and underground operations (Source: AREVA website). Assays and
analytical results from Alpha's 2014 winter drill program are
expected shortly. Strong alteration with elevated gamma radiation
was noted in a number of the 2014 holes, the results of which are
being evaluated by Alpha's consulting geologist Charlie Harper,
Ph.D. Dr. Harper has been engaged by Alpha to produce a NI 43-101
compliant technical report scheduled for completion in June 2014.
Follow-up drilling is being planned for Middle Lake in the 2015
winter season.
About Alpha Exploration Inc.
Alpha Exploration Inc. is a mineral exploration company whose
uranium experience was developed with the discovery of the
Roughrider deposits and subsequently the Patterson Lake South
discovery in 2012 via Alpha Mineral's successful JV with Fission
Uranium. The principals of the Company comprise a team that were
involved in the discovery and development of those world class
deposits. The Company started with a principal focus in the
exploration and development of its Mikwam Gold Property in Ontario,
and that focus has been moved to development of uranium properties
in the Athabasca Basin in northern Saskatchewan, Canada. Common
Shares are listed on the TSX Venture Exchange under the symbol
"AEX." Additional information about Alpha is available on Alpha's
website at www.alpha-aex.com or under its profile on SEDAR at
www.sedar.com.
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
Exploration Inc. by Benjamin Ainsworth, P.Eng., President, CEO, a
qualified person.
On behalf of the Board of Directors of Alpha Exploration
Inc.
"Ben
Ainsworth"
President, CEO and Director
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 to 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
CONTACT: For corporate communications please contact:
Robert (Bob) Meister
Toll Free: 1-866-629-0293
Trading Symbol: TSX-V - AEX
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