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Alpha Minerals Agrees to JV Budget for Patterson Lake South, Athabasca Basin, Drill Program

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Alpha Minerals Agrees to JV Budget for Patterson Lake South, Athabasca Basin, Drill Program

 

 

 

 

 

Alpha Minerals Inc. (TSX VENTURE:AMW)(FRANKFURT:E2GA) and its 50% Joint Venture partner Fission Uranium Corp. are pleased to announce that a $6.95 million summer and fall drill program has been set by the companies for their Patterson Lake South property on the southwest side of Saskatchewan’s Athabasca Basin.
 

This next drill program will focus on continuing delineation of the three uranium zones discovered to date at Patterson Lake South (Zones R00E, R390E and R780E), as well as testing the highest priority radon anomalies developed from the winter 2013 surveys. The summer drill program will utilize two diamond-core drill rigs and an RC rig and three barges.
 

The radon survey targets were important in the discovery of the first high-grade step out holes drilled at zones R390E and R780E at Patterson Lake South, which included hole PLS13-038 (Alpha news February 19, 2013). The recently announced radon survey results (Alpha news May 6, 2013), an extension of the previous radon survey by Radonex Ltd. at the Patterson Lake South Property, was highlighted by the confirmation of 11 discrete radon anomalies.
 

Other additional work during this period will include:



--  Sampling for the purpose of metallurgical testing.
--  A start will be made on establishing an environmental base line study in
    order to have independent data recovered over a sufficient time period
    for future environmental reporting purposes.
 

 

 

Key Technical Information



--  The exploration target at PLS is shallow, high-grade uranium
    mineralization hosted in basement rocks at approximately 50m below
    surface (ie. below glacial till and sediments).

--  Uranium intersected to date is 3.8 to 4.6km to northeast of a uranium
    boulder field discovered at in June 2011. This boulder field is one of
    the largest high-grade uranium boulder fields known in the Athabasca
    Basin district.

--  The PLS area remains highly-prospective both in the immediate area of
    the discovery and over several kilometers along the ENE -WSW strike of
    the Conductor Corridor.
 

 

Patterson Lake South Property
 

The 31,000 hectare (76,000 acres) PLS project is a 50%/50% Joint Venture held by Alpha Minerals Inc (AMW) and Fission Uranium (FCU). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Fission is the Operator of the Joint Venture until April 1st 2014. The property is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine, (greater than 60M lbs of U3O8 produced from multiple open pit and underground mines), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

Posted May 21, 2013

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