Alpha Exploration completes drilling at Middle Lake
2015-03-10 09:07 ET - News Release
Dr. Michael Gunning reports
ALPHA COMPLETES WINTER DRILLING AT MIDDLE LAKE, ATHABASCA BASIN, SASKATCHEWAN
Alpha Exploration Inc. has completed the 2015 winter drill program at its Middle Lake property. The property is adjacent to the former Cluff Lake uranium mine in the western Athabasca basin of Northern Saskatchewan. No significant radioactivity was intersected during the drill program.
The 2015 diamond drilling program consisted of 1,850 metres in 17 drill holes and was a continuation of diamond drilling program in 2014, which focused primarily on testing geochemical anomalies west of Middle Lake in the southern part of the property. Drilling in 2015 was focused on geophysical features in the northern part of the property, around and west of Skull Lake; integrated targets based on gravity, electromagnetic and magnetic features were tested. An expansive historic radon anomaly and scattered high-grade uraniferous boulders are located immediately to the south and west of the area tested.
Geophysical targets were corroborated by drilling. Conductors intersected west and north of Skull Lake are related to sulphide-bearing graphitic shear zones in psammitic gneiss with pegmatite in contact with Archean Earl River gneiss complexes. Farther to the west, a large gravity-low anomaly was explained by the presence of abundant Cluff Lake impact breccia containing local graphitic shear zones.
While graphite and sulphides intersected along target shear zones are encouraging, anomalous radioactivity and evidence of hydrothermal alteration related to mineralizing processes are lacking. Further exploration will be evaluated once all drill data, including geochemistry from systematic core sampling, are in hand and synthesized, along with all existing regional and property-scale exploration data. Please see the company's website for property location maps and summary exploration figures for Middle Lake, including proximity to the Cluff Lake uranium deposits (see Cluff Lake region map).
About the Middle Lake property
The Middle Lake property consists of one claim covering 2,416 hectares. Exploration is conducted according to a joint venture agreement with Acme Resources Inc., which holds a 20-per-cent carried interest. Please see the company's website for additional details of the agreement.
The property is situated adjacent to the decommissioned Cluff Lake mine site, where over 62 million pounds of triuranium octoxide were extracted during a 22-year operating life through a combination of three open-pit mines and four underground mines by predecessors of Areva Resources Canada Inc. (see Areva website).
The property is approximately 10 kilometres north of the Shea Creek uranium deposits, currently being explored by Areva and UEX Corp., about 75 kilometres north of the Triple R uranium deposit at Patterson Lake, and nearly 250 kilometres north of the town of La Loche, all connected by Highway 955 (see Athabasca basin map).
We seek Safe Harbor.