Alphamin Resources Corp.: Update on Bisie Tin Project, DRC
Highlights- Results received for further four holes at Bisie
- Significant results include:
-- 23.5m @ 0.85% Sn from 111.5m including 5.5m @ 2.27% Sn
-- 13m @ 0.70% Sn from 58m including 3m @ 2.06% Sn
-- 35m @ 0.77% Cu from 53m including 10m @ 1.67% Cu
-- 13.6m @ 926.4g/t Ce from 56.5m
- Tin mineralization defined over 250m at Gecomines and 450m at Golgotha
- Associated lead in soil anomaly extended to cover 6km of the "Bisie" ridge
- Alphamin on track for discovery of highly significant tin mineralization at Bisie
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/18/12 -- Alphamin Resources Corp. (TSX VENTURE: AFM) ("Alphamin" or the "Company") has received results for a further 5 holes drilled on its wholly owned Bisie Tin Project (Bisie Project) in east central Democratic Republic of Congo (DRC). Drilling has now confirmed tin mineralization in excess of 250m at Gecomines and 450m at Golgotha.
The Bisie Project covers 1,470sqkm of highly prospective ground in the North Kivu Province of the DRC, located in one of the world's principal Precambrian orogenic-metallogenic provinces. The Company is targeting high grade tin mineralization together with significant copper, zinc, lead, silver and REE mineralization. Tin mineralisation at Bisie is unique due to the high grades of tin exploited historically by artisanal miners and confirmed with drilling.
Results from diamond drill holes BGC004, BGC005, BGH005 and BGC006 are shown in Table 1 and demonstrated in Figure 1.
At Gecomines, drill hole BGC005 targeted the reported intersections in BGC001 (12m @ 3.15% Sn from 53m and 3m @ 6.14% Sn from 80m) at depth. The reported intersection of 23.5m @ 0.85% Sn from 111.5m including 5.5m @ 2.27% Sn from 122m for BGC005 confirms that high grade tin mineralization is open at depths below 100m from surface as shown in the cross section in Figure 2.
Drill hole BGC004 drilled 130m to the north of BGC002 (25.85m @ 2.26% Sn from 47.65m) reported 9.5m @ 0.34% Sn from 127m confirming mineralization remains open to the north in the Gecomines target area. Other mineralization included 9.35m @ 0.32% Cu from 142m.
At Golgotha, drill hole BGH005 reported 13m @ 0.70% Sn from 58m including 3m @ 2.06% Sn and a significant copper intercept of 35m @ 0.77% Cu from 53m including 10m @ 1.67% Cu from 58m. BGH005 is the northernmost drill hole in the target area where mineralization has been traced over 450m. BGH006 targeted the upper part of the mineralization intercepted in BGH001 and reported 19.25m @ 0.42% Sn from 57.25m including 2.75m @ 1.39% Sn from 59.25m as shown in Figure 3. Drill hole BGH007 collapsed before reaching the expected mineralized zone and was abandoned.
The Company and its Directors are pleased with the drilling results to date which together with the coherent copper and lead in soil anomalies associated with tin mineralization support excellent potential for one continuous zone of mineralization linking both target areas over 2km as shown in Figure 1.
The Company has now completed its initial 2,800m drilling programme on its wholly owned Bisie Tin Prospect. All results are expected by early January 2013 after which the Company will plan a detailed infill drilling programme over the primary target areas commencing in early 2013.
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 information.
Alphamin does not undertake to update any forward-looking information, except as required by applicable laws.
NOTES - DRILLING
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 and an 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 figures and table associated with this press release, please visit the following link: http://media3.marketwire.com/docs/afm1218tblmaps.pdf.
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Contacts:
Alphamin Resources Corp.
Level 3, Gotthardstrasse 20, CH-6304
Zug, Switzerland
+41 41 711 02 81
www.alphaminresources.com