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Alpha Exploration Ltd
Symbol ALEX
Shares Issued 63,239,119
Close 2023-05-23 C$ 0.75
Market Cap C$ 47,429,339
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Alpha Exploration drills 13 m of 4.24 g/t Au at Aburna

2023-05-24 10:16 ET - News Release

Mr. Michael Hopley reports


Alpha Exploration Ltd. has released results from recent drilling in 2023 at its Aburna gold prospect, which consisted of 10 reverse circulation (RC) drill holes totalling 1,188 metres, from the Northeast target area. The company has also received assay results from a single RC hole (ABR068 to 100 m) in the Dasharna target area, but this had no significant results. Alpha is also releasing assay results from 10 channels sampled at Aburna in 2023. Aburna is located in the southwest part of Alpha's large (771-square-kilometre), 100-per-cent-owned Kerkasha project. Drilling is continuing and further information will be released when available and interpreted.

Michael Hopley, Alpha president and chief executive officer, said: "The significant drill results returned from the Northeast target area within the Aburna prospect have extended the mineralization in drilling along strike from 90 m to 185 m. The mineralization remains open along strike in both directions and down dip. The Northeast area is approximately 1.3 km north-northeast of the Central area, where Alpha has also returned significant drill results (see press release on May 22, 2023). Alpha will need to drill test the area between Central and Northeast to see if they merge. Significant potential also exists northeast of the current drilling at the Northeast target area, as demonstrated by the 2.5 km long soil anomalies in this area. Further drilling is warranted in the Northeast target area."

Mr. Hopley said: "The significant result returned from channel sampling in the Saddle Workings target area (six m at 5.26 g/t gold) warrants follow-up drilling. The Alpha process of soil sampling followed up with traverses of trench and channel sampling (one m intervals) is proving to be an effective method to locate drill holes that can intersect significant mineralization."

The gold anomalies from soil, channel and trench sampling that define the Northeast and Dasharna target areas cover a strike length of approximately 2.5 km. This 2.5 km anomalous area is part of a much larger 7.2 km long gold anomalous zone from soil, channel and trench sampling that has seven target areas in total (Aburna Colonial gold mine, Saddle Workings, Celebration Hill, Hill 52, Central, Northeast and Dasharna) that define the Aburna prospect as a whole.

Mr. Hopley said: "The Aburna prospect is continuing to demonstrate it has the potential to return a multimillion-ounce gold deposit. The Hill 52, Central, Northeast and Celebration Hill target areas drill tested to date have all returned widths and grades that could conform to an economic deposit."

To date, Alpha has completed a total of five diamond drill holes for 881.1 m and 76 reverse circulation drill holes for a total of 9,209 m at Aburna.

Aburna gold prospect

The Aburna gold prospect is located on the western side of the company's Kerkasha exploration licence. Gold was mined at Aburna in the 1920s by Italian colonial miners and more recently by local artisanal miners. Soil and rock-chip sampling by Alpha identified gold mineralization over a large area (approximately 7.2 km by 2.2 km) northeast of the Colonial mine. Gold mineralization at Aburna is orogenic type associated with a major (approximately two km wide) southwest-northeast-oriented shear zone. Work by Alpha has included regional rock-chip sampling, 100 m by 100 m soil sampling, lithological and structural mapping, with one m traverse-channel-trench sampling. Results from all the above work identified seven prospective subareas that warranted drill testing, namely: Aburna mine, Saddle Workings, Celebration Hill, Hill 52, Central, Northeast and Dasharna. Drilling has returned significant intercepts for gold from the Hill 52, Northeast, Celebration Hill and Central areas. No significant results were returned from two drill holes at Saddle Workings and one drill hole at Dasharna. The Aburna Colonial mine is yet to be drill tested. Petrographic studies are under way along with a ground magnetic survey. An induced polarization survey is due to commence in late May, 2023, and preliminary metallurgical test work is expected to commence on drill samples in Q3 2023.

Sampling, subsampling and analysis

Geological consultants from RSC were responsible for the design of a strict quality assurance/quality control program consistent with industry best practice. Drilling of the reported intervals was by both reverse circulation (RC) and diamond drilling. RC samples were split at the rig using a Metzke splitter, before being transported to a secure location for logging. Diamond drill core was cut in half longitudinally at site using a diamond saw and half of the core (in one-metre intervals) was transported to a secure location for logging.

All samples were submitted to Nabro Laboratories Ltd., Asmara, Eritrea, for sample preparation. Samples were crushed (to 90 per cent passing 2.8 millimetres) and pulverized (to 85 per cent passing 75 micrometres). Two scoop samples were taken from the pulverizer bowl: approximately 120 grams for laboratory analysis and approximately 100 grams for portable X-ray fluorescence (pXRF) analysis. The coarse and pulp rejects were stored at a warehouse in Asmara. The company inserted certified reference material from OREAS into the sample stream, while Nabro inserted barren granodiorite material into the sample stream as a blank. Drill samples were shipped to ALS Geochemistry, Loughrea, Ireland, for analysis. ALS analyzed all drill samples for gold by method Au-AA26 (50-gram charge fire assay, atomic absorption spectroscopy finish). ALS is independent of the company and its quality management systems framework is accredited to ISO/IEC 17025:2005 or certified to ISO 9001:2015 standards.

About Alpha Exploration Ltd.

Alpha is an exploration company listed on the TSX Venture Exchange under the symbol ALEX that has made three important discoveries in two years at its Kerkasha project in Eritrea:

  • Aburna orogenic gold;
  • Anagulu porphyry gold-copper;
  • Tolegimja volcanogenic massive sulphide (VMS).

The company is managed by a group of highly experienced and successful professionals with many years of experience carrying out exploration and resource development programs in Eritrea and Sudan and is focused on the discovery of world-class economic gold and base metals deposits in the highly prospective Arabian-Nubian Shield, on either side of the Red Sea. Alpha currently holds a 100-per-cent interest in the large (771 square km) Kerkasha exploration licence in southwest Eritrea, located 135 km west-southwest of the capital city of Asmara. Since acquiring the property in January, 2018, the company has spent approximately $16-million on exploration and identified 20 prospects of which six have been drilled to date.

Qualified person

All scientific and technical information in this press release, including the results of the Aburna drill program and how these results relate to the continuing exploration at the Kerkasha project, has been reviewed, verified and approved by Mr. Hopley, president, chief executive officer of Alpha and a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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