Alpha Minerals Files NI 43 101 Mineral Resource Estimate for Its Mikwam Gold Property, Ontario
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/11/13 -- Alpha Minerals Inc. (TSX VENTURE: AMW), (the "Company" or "Alpha"), reports that as a result of a review by the British Columbia Securities Commission and requirements to meet reporting requirements, (please see previous news release dated January 7, 2013), the Company has completed an updated technical report and mineral resource estimate of its Mikwam gold project in Noseworthy Township in eastern Ontario.
Alpha contracted Caracle Creek International Consulting Inc. ("Caracle Creek") of Toronto, Ontario, to review the Mikwam Property (the "Property"), and prepare an Independent Technical Report (the "Report"), compliant with National Instrument 43-101 ("NI43-101"), companion policy NI43-101CP and Form 43-101F1. The purpose of the Report is to comply with the listing requirements following a disclosure of exploration data on the Mikwam Property. In addition, Caracle Creek was to provide an update of exploration activities on the property since the last Technical Report dated November 13, 2006 (Kelso and Harnois, 2006).
The report also provides a mineral resource estimate for the shear zone hosted gold deposit based upon current geostatistical practice and estimation methods. Mineral resources are classified as follows:
Table 1-1 Resource estimate at 1.0 g/t gold cut-off grade.
Category Tonnes Au grade (g/t) Au contained ounces
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Indicated 238,000 3.23 25,000
Inferred 879,000 2.42 68,000
The Mikwam deposit is not drilled off, and mineral zones are not fully delineated. The Company is currently assessing the exploration potential of the deposit, and considering a small, focused drill program at the end of the current winter drill season.
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 the Company by Ben Ainsworth, P.Eng. BC/SK, President and CEO for Alpha, a Qualified Person.
On behalf of the Board of Directors of Alpha Minerals Inc.
"Ben Ainsworth", President, CEO and Director
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 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 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.
Contacts:
Alpha Minerals Inc.
Robert (Bob) Meister
(604) 629-0293 or Toll Free: 1-866-629-0293