Investors News Releases
| March 01, 2009 INITIAL FOLLOW-UP RESULTS RECEIVED | |
| Vancouver, Canada -- March 1, 2009 -- Alphamin Resources Corp (AFM: TSX Venture Exchange) is pleased to announce that it has now received results for rock samples collected as a part of a program of follow-up work conducted to provide an initial assessment of the soil geochemical anomalies arising from the soil sampling campaign of 2007 (news release of December 15th, 2008). The samples consisted of surface channel and character grab samples from surface exposures suspected to be mineralized as well as character samples from some of the old mine workings. The results of the sampling provide a confirmation that bedrock sources exist for the geochemical anomalies and that potentially economic metal concentrations occur in a number of these anomalous zones. In the northern part of the property on the Coaxtlahuacan Norte (or Lupita) grid an annular or donut-shaped copper-in-soils anomaly, defined by copper values greater than 210 ppm, is 720 by 820 metres in size (~50 hectares) and is open to the north and west. The area is underlain by Tertiary age quartz diorite and porphyritic quartz monzonite intrusives. Grab samples of surface mineralization consisting of copper and iron oxides have assayed up to 2.8% copper, 54.8 grams/tonne silver and 0.31 gm/t gold. New results for the Coaxtlahuacan grid indicate gold in soil ranges up to 2,160 ppb and copper up to 3,810 ppm in the southern part of the grid. The anomalous area as defined by the 210 ppm copper contour is 49 ha in area and is open to the south. Zones anomalous in gold, as defined by areas within the 120 ppb gold contour, coincide in part with the copper anomaly and are situated immediately to the north of the copper anomaly in what appears to be a fault bounded block of the intrusive. Anomalous gold zones within the copper anomaly total 18 hectares in area; the gold zone to the north totals 30 ha in area. Grab samples from surface exposures and road cuts in the copper anomalous zone have assayed up to 1.37% copper, 5.56 g/t gold and 13.5 g/t silver. To the east of the Coaxtlahuacan grid on the Mezcaltepec grid is a strong silver-lead-zinc anomaly with zones of anomalous copper that forms a southerly trending arcuate zone 7.5 kilometres long and up to 1.4 kilometres wide. The area is underlain by sediments of the Middle Jurassic age Tecocoyunca Group. Lead in soils ranges up to 32,600 ppm; zinc to 3,600 ppm; silver to 60.2 ppm and copper to 621 ppm. There are several known mineral occurrences within the anomaly. Judging from the nature of mineralization found at the known occurrences, the soil anomalies are interpreted to reflect epithermal silver-lead-zinc-barite veins within the underlying metasediments and metavolcanics. Assays of selected character grab samples of mineralization from La Fortuna mine dump ranged from 40.1 to 2,042 grams/tonne silver, 1.97% to 20.9% lead, and 0.32 to 18.76% zinc. At La Estrella workings, assays of selcted dump samples ranged from 396 to 468 grams/tonne silver, 10.93% to 13.76% lead and 0.01% to 0.12% zinc. There is a strong northwesterly structural control to the mineralization at both La Fortuna and La Estrella. At the Gaudalupe mine workings, chip samples ranging in width from 0.5 to 1.5 metres ranged from 72.5 to 329 grams/tonne silver, 1.92% to 13.68% lead and 0.29% to 1.56% zinc. At the San Andreas prospect, channel samples across 0.5 and 1.0 metres returned assays of 354 and 676 grams/tonne silver, 16.72% and 15.76% lead and 5.2% and 0.07% zinc respectively. To the south of the Mezcaltepec grid, on the San Isidro grid, a strong silver-lead-copper-zinc and gold anomaly occurs. The anomalous zone is 3.0 by 2.4 kilometres in size with silver values ranging up to 51.3 ppm; lead up to 21,860 ppm; copper up to 2,109 ppm and zinc up to 20,070 ppm. The polymetallic soil anomalies on San Isidro are underlain by limestones and marbles of what is believed to be part of the Xolapa Complex. It is speculated that the anomalies may be caused by underlying VMS mineralization in the Xolapa complex and/or by chimney and manto (CRD) mineralization in the carbonates. Follow-up prospecting and rock sampling in the soil anomaly has located sulphide gossans, channel sample of which have assayed from 8.2 to 86.5 grams/tonne silver, 0.1% to 1.08% lead and 0.29% to 8.15% zinc over intervals of 0.3 to 0.5 metres. At the southern end of the property on the Piedra Iman grid, soil sampling has defined polymetallic anomalies in an 2 by 2 kilometre area. Copper in soils ranges up to 1,667 ppm, lead to 2,686 ppm, zinc up to 1,981 ppm and silver up to 27.7 ppm. The area is underlain by metasediments and metavolcanics of the Xolapa complex. The soil anomalies are associated with exposures of metarhyolite and enigmatic magnetite breccias that are speculated to form caps to underlying VMS mineralization. Alphamin's management is very pleased with the results of the initial follow-up work which will allow the Company to more precisely target areas for detailed testing. A program of trenching, ground geophysics and drilling is proposed in conjunction with detailed geological and geochemical studies of the anomalous zones. It is the Company's intention to continue follow-up work in the anomalous zones with prospecting and mapping crews. Where warranted additional infill sampling will be conducted and sampling to close off anomalies extending outside of the sampled areas will be undertaken. Additional ground and/or airborne geophysical testing of selected geochemical anomalies will also be undertaken in early 2009 in order to develop further drill targets in addition to those already defined on the Coaxtlahuacan grid. Carl G. Verley, P.Geo is the Qualified Person responsible for the technical contents of this press release. The TSX Venture Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this release. This News Release contains forward-looking statements. Forward-looking statements are statements, which relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. | |
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