VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2012) - Alphamin Resources Corp. (TSX VENTURE:AFM) ("Alphamin" or the "Company") is pleased to announce results from three additional holes and one redrill on its wholly owned Bisie Tin Project (Bisie Project) in east central Democratic Republic of Congo (DRC). Drilling continued to identify significant grades and widths of tin mineralisation at Bisie.
Results from BGC003 and BGH003, 4 and 4A are shown in Tables 1 and in Figure 1.
Drill hole BGH003 drilled 100m north of BGH001 (27.1m @ 0.88% Sn from 106.85m and 4.75m @ 1.22% Sn from 144.8m reported 11m @ 1.48% Sn from 71m including 2.5m @ 5.76% Sn from 74.5m. In addition the zone reported a significant copper intercept of 11m @ 0.88% Cu from 72m including 4.5m @ 1.74% Cu.
Drill hole BGH004A was a redrill of BGH004 which was abandoned in the zinc zone due to poor ground conditions. The hole was collared 200m south of BGH001 and reported 13.3m @ 0.43% Sn confirming the mineralized system is open to the south.
Soil samples were collected over 4km of the Bisie ridge. A coherent lead in soil anomaly (refer Figure 2) was identified along the extent of the ridge to the limit of sampling in the south. Lead, an important pathfinder due to its low mobility, is commonly associated with the zone of tin mineralization and suggests tin mineralization has the potential continue along the ridge. This potential is supported by the drilling where tin mineralization is open in all directions at Gecomines and Golgotha.
Interpretation of the landsat imagery suggests the mineralized zone is structurally complex and is cross-cut by a series of W-E and NW-SE trending structures. The tin mineralization is often observed as blocks of cassiterite in the core which occur as a cassiterite breccia within the broader zone of mineralization. The true mineralized potential at Bisie will be clarified by infill drilling.
The Bisie Project is located within the Walikale District roughly 140 km west-northwest of the regional centre of Goma in one of the world's principal Precambrian orogenic-metallogenic provinces. Mineralisation at Bisie is unique due to the high grades of tin exploited historically by artisanal miners and confirmed with drilling. Furthermore the tin is hosted in highly altered schists with associated copper and REE (Cerium and Lanthanum). A second parallel zone rich in zinc, lead and silver was also identified in the drilling. The two zones are generally discrete although lead and zinc mineralization is often associated with the tin zone.
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.
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, 1g/t Ag, 0.1% Zn, 0.1% 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 drillholes BGC003 and BGH003, 4A and 4 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. Holes BGC001, BGC002 & BGH001 were also assayed for Au using fire assay on 30g samples with AAS finish. Industry accepted QA/QC checks were applied including use of duplicates and standards.
To view the figures and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/n1120afm.pdf.