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Alpha Exploration Announces Aburna Gold Prospect Delivers Positive Drill Results in Four Areas Including: 16M @ 14.07 g/t Gold

24.11.2022  |  Newsfile

Calgary, November 24, 2022 - Alpha Exploration Ltd. (TSXV: ALEX) ("Alpha" or the "Company") is pleased to announce results from recent drilling campaign at its Aburna gold prospect which consisted of 25 drill holes totalling 3,196 m. Aburna is located in the southwest part of Alpha's large (771 km²), 100% owned, Kerkasha Project.

ABURNA DRILL HOLE HIGHLIGHTS

Sub Area Hole From
(m)
To
(m)
Interval
(m)
Average
g/t Gold
Hill-52 Area ABD001 45 59 14.00 1.09
Hill-52 Area ABD001 66 72 6.00 6.11
*Hill-52 Area ABD001 89 109 20.00 7.70
Hill-52 Area ABD002 60 70 10.00 1.95
Hill-52 Area ABD002 105 107 2.00 15.59
Hill-52 Area ABR021 35 49 14.00 1.40
Northeast Area ABR037 14 30 16.00 14.07
Celebration Hill Area ABR027 129 149 20.00 1.69
Aburna Central Area ABR031 71 104 33.00 0.71
Aburna Central Area ABR032 33 38 5.00 3.80
Aburna Central Area ABR034 101 125 24.00 1.43

*First reported on September 14, 2022.

Note: At this early stage of exploration, the true width of the mineralization is uncertain, but it is estimated to be 80% of reported intervals. Intervals were calculated with a start and finish value of no less than 0.5 g/t gold, a minimum width of 2 m and maximum internal dilution of 2 m at >0.2g/t gold.

Michael Hopley, Alpha President & CEO said "We are again, very encouraged about these latest drilling results from Aburna. Given that the Aburna prospect is a huge area - over 6 km long and 2 km wide - as defined by Alpha surface sampling and mapping - and the fact that we have only drilled 43 holes to date - just over 5, 000 m in an area measuring about 2.5 km by 1.5 km and many holes have found strong gold mineralization over significant widths including two holes (ABR-037 and ABD-001) which intersected extraordinary results of 16m averaging 14.07 g/t and 20m averaging 7.70 g/t gold. The results to date suggest to me a major gold discovery by Alpha at Aburna; obviously more drilling is justified."

Aburna Gold Prospect

The Aburna gold prospect is located on the western side of the Company's Kerkasha Exploration License. Gold was mined at Aburna in the 1920s by Italian colonial miners and more recently by local artisanal miners. Earlier soil and rock-chip sampling by Alpha identified gold mineralization over a large area (approximately 6 km x 2 km) northeast of the colonial mine. Gold mineralization at Aburna is orogenic-type associated with three major NE-SW oriented shear zones. Recent work by Alpha has included continuous 1-m long sub-surface channel and trench sampling (See press releases on 4th November 2021 and 10th February 2022). Results from all the above work identified five prospective sub-areas that warranted drill testing namely: Hill 52, Northeast, Celebration Hill, Aburna Central and Saddle Workings.

Map 1

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Map 2

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Cross Section A

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Cross Section B

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Map 3

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Map 4

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Map 5

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Table 1: Summary of significant gold results from the latest Aburna drill program

Prospect Sub Area Hole From
(m)
To
(m)
Interval
(m)
Average
Au
Aburna Hill-52 Area ABD001 17 24 7.00 0.52
Aburna Hill-52 Area ABD001 30 33 3.00 0.79
Aburna Hill-52 Area ABD001 38 40 2.00 0.58
Aburna Hill-52 Area ABD001 45 59 14.00 1.09
Aburna Hill-52 Area ABD001 66 72 6.00 6.11
*Aburna Hill-52 Area ABD001 89 109 20.00 7.70
Aburna Hill-52 Area ABD001 122 125 3.00 1.62
Aburna Hill-52 Area ABD002 31 34 3.00 0.93
Aburna Hill-52 Area ABD002 60 70 10.00 1.95
Aburna Hill-52 Area ABD002 80 81 1.00 12.85
Aburna Hill-52 Area ABD002 90 96 6.00 0.87
Aburna Hill-52 Area ABD002 105 107 2.00 15.59
Aburna Hill-52 Area ABD003 164 165 1.00 4.27
Aburna Hill-52 Area ABD004 111 112 1.00 6.31
Aburna Hill-52 Area ABD004 143 147 4.00 2.46
Aburna Hill-52 Area ABD005 82 83 1.00 1.88
Aburna Hill-52 Area ABD005 118 119 1.00 4.36
Aburna Hill-52 Area ABD005 140 144 4.00 1.21
Aburna Hill-52 Area ABD005 155 160 5.00 1.23
Aburna Hill-52 Area ABR020 62 63 1.00 1.50
Aburna Hill-52 Area ABR021 35 49 14.00 1.40
Aburna Hill-52 Area ABR021 62 65 3.00 0.80
Prospect Sub Area Hole From
(m)
To
(m)
Interval
(m)
Average
Au
Aburna Hill-52 Area ABR022 39 40 1.00 1.00
Aburna Hill-52 Area ABR022 65 66 1.00 2.35
Aburna Hill-52 Area ABR022 77 87 10.00 0.30
Aburna Hill-52 Area ABR022 93 94 1.00 1.30
Aburna Hill-52 Area ABR022 97 104 7.00 0.59
Aburna Hill-52 Area ABR023 54 65 11.00 0.85
Aburna Hill-52 Area ABR023 72 80 8.00 1.50
Aburna Hill-52 Area ABR024 1 8 7.00 1.72
Aburna Hill-52 Area ABR024 11 12 1.00 2.71
Aburna Hill-52 Area ABR024 70 72 2.00 3.36
Aburna Hill-52 Area ABR024 84 85 1.00 3.78
Aburna Hill-52 Area ABR029 7 10 3.00 1.33
Aburna Hill-52 Area ABR029 80 86 6.00 0.44
Aburna Hill-52 Area ABR030 34 36 2.00 0.84
Aburna Northeast Area ABR035 4 5 1.00 1.23
Aburna Northeast Area ABR036 27 28 1.00 4.58
Aburna Northeast Area ABR036 49 66 17.00 0.50
Aburna Northeast Area ABR036 72 74 2.00 0.55
Aburna Northeast Area ABR036 83 89 6.00 0.97
Aburna Northeast Area ABR037 3 6 3.00 0.78
Aburna Northeast Area ABR037 14 30 16.00 14.07
Aburna Northeast Area ABR038 72 74 2.00 2.10
Aburna Northeast Area ABR038 79 84 5.00 1.10
Aburna Northeast Area ABR038 93 96 3.00 1.74
Aburna Celebration Hill Area ABR025 84 88 4.00 0.55
Aburna Celebration Hill Area ABR025 110 111 1.00 1.37
Aburna Celebration Hill Area ABR025 152 155 3.00 1.18
Aburna Celebration Hill Area ABR026 56 57 1.00 4.63
Aburna Celebration Hill Area ABR026 69 70 1.00 1.26
Aburna Celebration Hill Area ABR026 99 103 4.00 0.46
Aburna Celebration Hill Area ABR027 129 149 20.00 1.69
Aburna Celebration Hill Area ABR028 85 86 1.00 9.33
Aburna Aburna Central Area ABR015 118 121 3.00 1.15
Aburna Aburna Central Area ABR031 16 18 2.00 3.39
Aburna Aburna Central Area ABR031 39 43 4.00 0.93
Aburna Aburna Central Area ABR031 48 57 9.00 0.55
Aburna Aburna Central Area ABR031 71 104 33.00 0.71
Aburna Aburna Central Area ABR031 107 108 1.00 1.16
Aburna Aburna Central Area ABR032 33 38 5.00 3.80
Aburna Aburna Central Area ABR032 53 57 4.00 3.14
Aburna Aburna Central Area ABR032 95 105 10.00 0.65
Aburna Aburna Central Area ABR034 67 68 1.00 2.11
Aburna Aburna Central Area ABR034 95 96 1.00 1.13
Aburna Aburna Central Area ABR034 101 125 24.00 1.43

* First reported on September 14, 2022

Note: ABR designated drill holes were drilled using the reverse-circulation method and ABD designated drill holes were drilled using the diamond-drilling method. Intervals were calculated with a minimum start and finish value of 0.5 g/t gold, a minimum width of 2m and maximum internal dilution of 2 m at >0.2g/t gold. Any single meter interval >1g/t gold is also reported.

Anagulu gold-copper porphyry prospect

As announced on July 7, 2022, Alpha tested a deep (~200-500 m) chargeability anomaly in the southwest of the Anagulu prospect with one diamond tail hole (311.2 m) off existing RC hole ANR045 (240 m). This strong chargeability anomaly is coincident with elevated copper, gold, and molybdenum in previous drillholes in this area and was interpreted to be a potential source of the copper and gold mineralisation identified at surface over a 2-km strike length in soil and rock-chip samples, trenching and drillholes. The drillhole was completed last month to the target depth of 551.2m.

Assay results for gold, copper and molybdenum have now been received from the "diamond tail" of ABRD045 and show broad zones of low-level copper mineralisation and elevated molybdenum near the end of the hole as follows:

Table 2: Summary of significant copper and molybdenum intervals in ANRD045

Hole Sample Type From (m) To (m) Interval Gold
(ppm)
Copper
(ppm)
Molybdenum (ppm)
ANRD045 Drill Core - Diamond Tail 270 321 51 0.09 1,309 11
ANRD045 Drill Core - Diamond Tail 340 349 9 0.06 890 15
ANRD045 Drill Core - Diamond Tail 384 398 14 0.04 870 5
ANRD045 Drill Core - Diamond Tail 436 443 7 0.04 898 11
ANRD045 Drill Core - Diamond Tail 513 549 36 0.04 674 53

Note: No cut-off parameters were used in the interval calculations for gold, copper and molybdenum in table 2 above. The assay grade given is the sum of the individual meter assays, divided by the interval length.

At ~300 m, the potassic alteration encountered higher up the hole was replaced with phyllic alteration hosted in a quartz diorite that appeared to be largely unmineralized. At ~500 m the potassic alteration returned and persisted to the end of the hole. The potassic alteration near the end of the hole and increasing molybdenum content may indicate a return of mineralisation at greater depths.

Alpha believes that this drill hole has not, as hoped, found the source of the broad zones of copper and gold mineralization identified over a 2 km strike length at Anagulu at surface and in previous drilling. Further detailed analysis of the core from ANRD045, and surrounding area is warranted, to plan further work at Anagulu.

Sampling, Sub-sampling and Analysis

Geological consultants from RSC were responsible for the design of a strict QA/QC 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 1-meter intervals) was transported to a secure location for logging.

All samples were submitted to Nabro Laboratories Limited (Nabro), Asmara, Eritrea, for sample preparation. Samples were crushed (to 90% passing 2.8 mm) and pulverised (to 85% passing 75 µm). Two scoop samples were taken from the pulveriser bowl: approximately 120 g for laboratory analysis and approximately 100 g 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 (www.ore.com.au) into the sample stream, while Nabro inserted barren granodiorite material into the sample stream as a blank. Drill samples were shipped to ALS Geochemistry (ALS), Loughrea, Ireland, for analysis. ALS analysed all drill samples for gold by method Au-AA26 (50 g charge fire assay, AAS finish). ALS is independent of the Company and its quality management systems framework is accredited to ISO/IEC 17025:2005or certified to ISO 9001:2015standards.

Table 3: Drill collar data from the latest Aburna and Anagulu drill program

Prospect Hole Easting
(UTM)
Northing
(UTM)
RL
(m)
Hole
Type
Pre-Collar (m) Total
Depth
Dip Azimuth Start Date End Date
Aburna ABR015 341571 1651533 936 RC 114 154 -50 315 14/09/2022 21/09/2022
Aburna ABR020 340850 1651234 950 RC 90 -50 135 19/08/2022 20/08/2022
Aburna ABR021 340878 1651330 930 RC 108 -50 135 20/08/2022 21/08/2022
Aburna ABR022 340908 1651421 940 RC 108 -50 315 22/08/2022 24/08/2022
Aburna ABR023 340910 1651421 944 RC 108 -50 135 25/08/2022 25/08/2022
Aburna ABR024 340861 1651468 944 RC 118 -50 315 26/08/2022 27/08/2022
Aburna ABR025 341658 1650600 925 RC 180 -50 315 27/08/2022 29/08/2022
Aburna ABR026 341574 1650697 944 RC 150 -50 135 29/08/2022 30/08/2022
Aburna ABR027 341708 1650677 925 RC 175 -50 315 31/08/2022 2/09/2022
Aburna ABR028 341582 1650574 955 RC 175 -50 315 3/09/2022 4/09/2022
Aburna ABR029 340929 1651329 946 RC 108 -50 315 5/09/2022 5/09/2022
Aburna ABR030 340931 1651331 950 RC 78 -50 135 7/09/2022 7/09/2022
Aburna ABR031 341536 1651533 941 RC 108 -50 315 8/09/2022 8/09/2022
Aburna ABR032 341557 1651492 932 RC 106 -50 315 9/09/2022 9/09/2022
Aburna ABR033 341587 1651597 932 RC 105 -50 315 10/09/2022 11/09/2022
Aburna ABR034 341604 1651549 932 RC 126 -50 315 12/09/2022 13/09/2022
Aburna ABR035 342064 1652779 952 RC 105 -50 315 16/09/2022 16/09/2022
Aburna ABR036 342077 1652716 953 RC 112 -50 315 17/09/2022 18/09/2022
Aburna ABR037 342039 1652748 958 RC 110 -50 315 19/09/2022 19/09/2022
Aburna ABR038 342110 1652770 962 RC 105 -50 315 20/09/2022 20/09/2022
Aburna ABD001 340908 1651242 965 DD 182 -60 315 24/07/2022 28/07/2022
Aburna ABD002 340937 1651275 949 DD 162 -60 315 28/09/2022 4/10/2022
Aburna ABD003 340901 1651192 955 DD 177 -60 315 5/10/2022 9/10/2022
Aburna ABD004 340876 1651164 952 DD 160 -60 315 9/10/2022 12/10/2022
Aburna ABD005 341002 1651323 965 DD 200 -60 315 13/10/2022 17/10/2022
Anagulu ANDRO45 341309 1644278 875 RC-DD 240 551.2 -55 315 15/08/2022 11/09/2022

About Alpha

Alpha is an exploration company listed on the TSX-V exchange under the symbol ALEX that has made three important discoveries in two years at it's 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% interest in the large (771 km2) Kerkasha Exploration License 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 ~CAD$13 million on exploration and identified 20 prospects of which six have been drilled to date.

For further information go to the Alpha webpage at www.alpha-exploration.com or contact:

Michael Hopley
President and Chief Executive Officer
Alpha Exploration Ltd.
Email: mhopley@alpha-exploration.com
Tel: +44 207129 1148

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 ongoing exploration at the Kerkasha Project has been reviewed, verified, and approved by Michael 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.

Cautionary Notes

This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

Forward‐Looking Statements

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: future dataset interpretations, sampling, plans for its projects (including the Anagulu prospect), surveys related to Alpha's assets, and the Company's drilling program. Often, but not always, forward-looking statements or information can be identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, Alpha has made numerous assumptions including among other things, assumptions about general business and economic conditions and the price of gold and other minerals. The foregoing list of assumptions is not exhaustive.

Although management of Alpha believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to Alpha's financing efforts; risks associated with the business of Alpha given its limited operating history; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to exploration activities; those factors discussed under the heading "Risk Factors" in the Final Prospectus; and other risk factors as detailed from time to time. Alpha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145654


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