Alpha Minerals (TSXV:AMW) is a junior mineral exploration company with strategically selected uranium and gold properties in North America. The Company is primarily focusing on the discovery and delineation of uranium deposits in the Athabasca Basin, including the recent near-surface high-grade discovery at Patterson Lake South.
- Operating in geological settings with a proven record of high-grade uranium discoveries hosted by miner friendly jurisdiction.
- Winter 2013 Success at Patterson Lake:
- 37 of 46 (80.4%) drill holes hit anomalous radioactivity or mineralization.
- Went from Discovery to 3 Mineralized Zones in 6 months.
- Goal is to delineate a significant high-grade, shallow, uranium resource.
Alpha Minerals’ Athabasca Basin projects totals over over 170,000 acres.in the world’s most important uranium producing district, which accounts for approximately 16% of global primary uranium supply. Ten of the world’s top 15 highest-grade uranium deposits lie in the Athabasca Basin. The most advanced of Alpha Minerals’ projects is the Patterson Lake South Property.
Patterson Lake South
Alpha Minerals Inc. and Fission Uranium Corp. form the 50/50 Patterson Lake South Joint Venture that includes claims that straddle the southwestern margin of the Athabasca Basin. The joint venture includes 17 claims (approximately 25,450 hectares). The Patterson Lake South (PLS) property is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine (greater than 60 million pounds of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50 kilometres to the north, currently under active exploration and development.
Alpha Minerals has filed a National Instrument 43-101 technical report entitled “Patterson Lake South Property” dated April 14th, 2013 on SEDAR.
The latest drill results were released on August 22, 2013. Alpha Minerals and Fission Uranium drilled an additional five holes on the R390E Zone and intersected a 47.0m wide mineralized zone, including a total of 5.27m composite “off-scale” to expand the R390E Zone.
Drilling Highlights include:
- Extend strike length of R390E zone to 120m
- PLS13-086 (line 350E) intersected 47m of mineralization (75.0m – 122.0m), including:
- 5.27m total composite off-scale (>9999 cps), including:
- 3.0m of continuous off-scale (>9999 cps) (101.0m – 104.0m)
- PLS13-083 (line 315E) intersected 61.5m total composite of variably radioactive mineralization over a 105.5m wide interval (53.0m – 158.5m). Clay alteration from 53 m to 192. Includes some poor core recovery where the hand held scintillometer results are moderate and the down hole gamma probe results show strongly anomalous values over a 1.0 m interval from 80.0m – 81.0m within an interval from 80.0m – 83.0m where core recovery was estimated at 48.7%.
- PLS13-078 (line 435E) intersected 42.0m total composite of variably radioactive mineralization over a 60.5m wide interval (75.0m to 135.5m)
- Upper Zone: 31.5m mineralization (85.0m – 166.5m), including:
- 1.25m total composite off-scale (>9999 cps) (97.0m – 98.0m)
- Lower Zone: 10.0m mineralization (125.5m – 135.5m)
- PLS13-085 (line 330E) intersected 36.0m total composite of variably radioactive mineralization in several intervals over a 55.5m wide interval (58.5m – 114.0m), including:
- 22.5m of variably radioactive mineralization (82.0m – 104.5m), including:
- 2.16m total composite off-scale (>9999 cps) (85.5m to 87.81m)
- PLS13-081 (line 405E) intersected 25.5m of variably radioactive mineralization (105.0m – 130.5m)
The Cluff Lake properties cover a collective total of 41,380 acres and Alpha Minerals partner with Rio Tinto, formerly Hathor (TSX:HAT), in the Cluff Lake area. Alpha Minerals and Rio Tinto have a 50/50 Joint Venture on the north side of the Cluff Lake Mine lease.
Alpha Minerals also have JV agreements with Logan (TSXV:LGR) and ACME (TSXV:ARI), with the Company having an 80% interest in the JV projects. Acme’s JV area is contiguous with the Cluff Lake Mine, with +60 m pounds U3O6 produced.
The projects adjoin the former Cluff Lake (open pit) Mine which produced 63 million pounds of U3O8 at a grade of 0.93% which compares favorably to Alpha’s grade of 0.85% U3O8, encountered in the 2006 drill program, on the adjacent Gorilla Lake zone. The Cluff property also adjoins UEX / AREVA’s Shea Creek Project.
- CLU-07: 7.0m of 0.17% U3O8 (153.0 to 160.0m) including 0.82% U3O8 over 1.0 m 2nd zone: 2.0m of 0.20% U3O8 (175.0 to 177.0m)
- CLU-01: 1.5m of 0.46% U3O8 (174.0 to 175.5M)
- CAR-425: 2.3m of 0.85% U3O8
Hook covers approximately 32,000 acres and is located northeast of the PLS discoveries. It covers the northern extension of Patterson and Derkson conductor corridors, and adjoins Uranium Energy Inc. and Cameco Corporation’s property to the south.
Past exploration includes Geotem airborne ground geophysical surveying, geochemical sampling and diamond drilling totalling 2,404 metres in four holes.
Seventeen Geotem electromagnetic conductors with a total strike length of eighty kilometers have been discovered on Hook Project property. Three of these conductors have been drill tested.
Alpha Minerals is currently focused on its 50/50 Joint Venture with Fission Uranium, Patterson Lake South property. PLS is a high-grade, shallow-depth uranium discovery within Canada’s Athabasca Basin.
The 31,000 hectare (76,000 acres) PLS project is 100% owned with no underlying royalties or vendor payments. Alpha returns as the Operator of the Joint Venture in 2014.
Benjamin Ainsworth, MA, P. Eng – President and CEO
Mr. Ainsworth is a senior Geologist and mining consultant who has been involved in the mining industry for over forty years. He graduated in 1963 with an honors degree in Geology from Oxford University in England. He joined Placer Development in 1965 and held positions of Senior Geologist, Chief Geochemist, Exploration Manager — Eastern Canada, Exploration Manager — Chile, and President — Placer Chile, South America. Throughout the 70′s, Mr. Ainsworth was involved in the design, budgeting and implementation of exploration programs that included large drill programs, geophysical surveys, geological mapping, geochemical surveys, and a full range of project evaluation studies.
Mr. Ainsworth is also a Board Member of: HATHOR Exploration (TSX: HAT), discoverer of Canada’s newest world class Uranium deposit. DAJIN Resources (CVE : DJI) that has 100% interest in lithium brine concessions in Argentina.43-101 rules.
Dr. Michael Gunning, BSc (Hons), MSc, PhD. – Director, Lead Technical Advisor
Dr Gunning attained an Honours BSc degree in geology from UBC, followed by a time in the junior gold exploration sector, and onto mineral deposit research and regional mapping with the British Columbia Geological Survey and Geological Survey of Canada, all towards completing MSc and PhD degrees at the University of Western Ontario. Following work with Teck Resources in base metal exploration in North and South America, he joined the Saskatchewan Geology survey as lead Mineral Deposits Research Geologist. Dr. Gunning is extensively published, has presented at numerous technical and investor conferences, and is past-President of the SEG Student Chapter at Western, and Geological Society of Saskatchewan.
Dr Gunning brings a very diverse and valuable range of experience and proven leadership to Alpha from his 25 years in the mineral exploration and geological research sectors. Most recently as former President and CEO of Hathor Exploration Ltd, he successfully transitioned the Company from the grass roots discovery to the definition of a uranium deposit with truly world class attributes, and steered it’s eventual sale to Rio Tinto Plc., a leading producer in the global uranium sector.
Kurt Bordian, CGA – CFO and Secretary
Mr. Bordian is a designated Certified General Accountant in Canada, and holds a Bachelor of Commerce (Honors) Degree from the University of Manitoba. He has worked primarily in the mineral exploration and oil and gas industries over the past 10 years, and has held the position of Controller with three public companies exploring and operating in the Solomon Islands, Ghana, Tunisia and Western Canada. Mr. Bordian is also active with other public entities as Operations Manager and Corporate Secretary.
Warren Stanyer – Director
Mr. Stanyer has fifteen years of experience in the mineral exploration industry and has served as; a consultant, Corporate Secretary, Officer, Director, President and CEO to a number of public mineral exploration companies including Pioneer Metals Corporation (“Pioneer”), UEX Corporation (“UEX”), and Northern Continental Resources Inc. (“NCR”).
Mr. Stanyer began his career with Pioneer which was a Gold, Base Metal and Uranium Exploration Company with properties in New Mexico, BC, Manitoba and Saskatchewan. In 1999, Pioneer signed an option agreement with Cameco Corporation, which led to the formation of the pure uranium exploration company, UEX. Mr. Stanyer held the positions of Corporate Secretary and Vice President, Corporate Development in both Pioneer and UEX. In 2006, Barrick Gold Corporation took over Pioneer and Mr. Stanyer became a consultant during the transition.
In 2007, Mr. Stanyer began consulting for NCR, a Uranium exploration company and was appointed President and CEO in 2008. Hathor Exploration Limited (“Hathor”) made a successful offer in July 2009 to take over NCR, in competition with Denison Mines.
Currently Mr. Stanyer is a consultant to mineral exploration companies and is a Director of Nevada Sunrise Gold Corp. (NEV-TSX.V) and New Moon Minerals Corporation (a private mineral exploration company). Mr. Stanyer is also President of two other private companies, Ionic Minerals Inc. (a brine research company) and Trailblazer Exploration Inc. (a diamond exploration company).
James Yates – Director
Mr. Yates has over twenty years experience in the mineral exploration industry and has served as a director and officer of several public mining companies. From 1982 to 1988 he was the Founder, President, and Director of Hycroft Resources who successfully brought the Crofoot Mine into production, a gold heap leach operation with annual production of 100,000 ounces of gold. Mr. Yates has overseen the corporate management and financing of a number of projects in North America including American Bullion Minerals, Zappa Resources, and Jersey Goldfields, having raised in excess of $20million for mineral exploration development.
Garrett Ainsworth, PGeo BC – VP Exploration
Mr. Ainsworth is an experienced field geologist, that has been the Project Manager of the Patterson Lake South Project for both Alpha Minerals (ESO Uranium) and Fission Energy. Mr.Ainsworth has been instrimental in the succesful progress of PLS as he has been with the project since its inception. Mr. Ainsworth is also experienced with the requirements of Best Practice and NI43-101 including the design and management of sampling, chain of custody and assaying protocol; implementation of QA/QC protocol, and assay laboratory performance; and maintenance of sample and drill databases. He is adept at assessment and technical report writer and has a proven ability to work within budgetary and tight deadline requirements.
Robert Meister – Corporate Communications/Development
Mr. Meister has nearly 20 years of experience working with public and private companies and has been specializing in the resource sector since 2005. He is a graduate of British Columbia Institute of Technology (BCIT) in Marketing Management and also participated in BCIT’s Exploration and Mining for Investment course. His experience and entrepreneurial nature has allowed him to manage and develop numerous business and management activities including all aspects of Marketing and Corporate Communications at institutional and retail levels, and assisting in raising capital at all phases of corporate development.