Posts Tagged Silver

Alpha Gold Prepares for 2009 Program

 

Alpha Gold today announced that a drill program of approximately 5,000 metres is slated to begin in early August 2009. Exploration in 2009 will initially focus on the Canyon Creek Skarn (“CCS”). The goal of the 2009 exploration program is to focus on targets that indicate the potential for new discoveries and some infill drilling that, if successful, will result in expanding the current resource and possibly demonstrating continuity or expansion of other zones.

The design and logistics of 2009 field program will be finalized when all historical property data has been completely integrated into the drilling database and will commence when ground conditions permit. “Once permits are in place and drill targets have been finalized, we will have a drill turning on the property,” explained Richard Whatley, President and CEO. Geophysical, geochemical and geological data are being compiled by Hungry Hill Geological Ltd., the Company’s new Geological Consultant, and all historical data re-analyzed in order to generate targets in and around the CCS and the Glover Stock. Diamond drilling using NQ core size on the CCS will focus on three priority areas: (i) infill drilling to better establish the resource parameters of CCS mineralized body needed for an NI 43-101 resource calculation; (ii) new step-out targets that have the potential to extend the existing CCS mineralized zone; and (iii) test drilling skarn-like geophysical and geochemical anomalies that have been, and may still be, identified.

During this season, aerial orthophotography of the Lustdust Property and real time GPS surveying of all drill collars are proposed which will add to the reconnaissance for advancing the potential of the CCS. The total cost of the 2009 drill program is estimated to be C$1.3 million. There is C$3 million in the treasury. It is expected that upon completion of the 2009 drill program, a stand alone resource estimate can be reinitiated on the CCS. Earlier work on an NI 43-101 compliant estimate was discontinued due to insufficient drill data and downhole geophysics to meet NI 43-101 criteria.

 

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Alpha Gold Provides Corporate Update

Alpha Gold reported that Richard Whatley has been named Interim CEO, following the passing of George A. Whatley, on December 16 of British Columbia, Richard earned degrees in both chemical engineering and biomedical engineering. He has worked as a professional consulting engineer and is experienced in the environmental aspects of mining.

Interim CFO is Natalie Whatley, who has managed the accounting for the Company for many years now. The Company’s near term objectives are to finalize the third quarter interim reports, pursue the completion of the NI 43-101 technical report on the Canyon Creek Skarn, and prepare for exploration after the spring thaw at Lustdust.

Alpha Gold’s corporate office will be maintained at 410 Donald Street, Coquitlam, British Columbia, V3K 3Z8.

Mr Whatley commented “With almost $3.5 million in working capital, Alpha Gold is well positioned to carry out additional exploration work in 2009. We look forward to announcing the current year’s program once the Board has had a chance to receive and review the technical report and recommendations from our geological advisor. The Board is also reviewing options to add strength to Alpha’s management and technical teams in due course.”

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Lorraine-Jajay 2008 Drilling Results New Zone Discovered Under Main Zone

Lorraine Copper wishes to announce the results from the 2008 exploration program at the Lorraine project, which is being managed by Teck Cominco Limited under a Participation Agreement with Lorraine Copper. The Lorraine property is located in the Quesnel Terrane approximately 250 km northwest of the city of Prince George, British Columbia.

Lorraine 2008 Drill Map

Lorraine 2008 Drill Map

Teck has informed the company that it successfully drilled 6,935.5 m in 19 holes and tested eight target areas during the 2008 program. A number of significant new developments have resulted from this drilling, most notably, the discovery of another mineralized zone below the Lower Main Zone. Drill hole L08-120 first intersected 159.2 m grading 0.64% copper and 0.30 g/t gold representing the Lower Main Zone, then intersected 58.8 m grading 0.092% copper including 22.1 m grading 0.16% copper 95.3 m beneath the first interception.

Two holes were drilled to test for a northern extension to the Bishop Zone and also to determine if this zone is connected with the Main Zone. Holes L08-121 and 128 very successfully attained this objective, returning 123.3 m of 0.31% copper and 23.4 m of 0.49% copper, respectively. These holes indicate the potential for significantly increasing resources in this area.

New areas of mineralization were also discovered, including: west of the Boundary Zone in holes JTM08-16 and 17; the All Alone Dome target in hole L08-115; and the first significant intercepts of mineralization at the TooGood target in holes L08-116, 118 and 119 where notable mineralization was seen in a few holes that were cut off by post-mineralization dykes, indicating that mineralization in this large target is potentially very extensive.

Copper-gold mineralization on the Lorraine property is alkalic intrusion-related and is analogous to a deposit style that includes the Galore Creek deposit. Other significant alkalic deposits in British Columbia include the Mt. Polley, Afton and Copper Mountain mines. The Lorraine property is located in an area of active logging and is well served by resource infrastructure including all season roads, the Kemess power-line corridor to the northeast and the Canadian National Railway line to the southwest.

Teck is earning a 51% interest in the Lorraine-Jajay project by spending $9.0 million by 2011, and may earn up to a 65% interest by completing a feasibility study and arranging production financing.

2008 Lorraine-Jajay and Jan/Tam/Misty Properties Drilling Results Summary:

Hole No. Area

From (m)

To (m)

Core Length (m)

Cu ppm (ICPMS)

Assay Cu %

Au ppb  *

Assay Au g/t  ***

Ag ppm (ICPMS)

JTM08-16 Boundary

384.3

515

130.7

914

0.09

26

<1

  incl.

384.3

405

20.7

1492

0.15

45

1

  incl.

460

481

21

1906

0.18

40

0.066

1.3

JTM08-17 Boundary

36.7

55.3

18.6

1153

0.12

<10

1.1

JTM08-18 Target X

 

 

 

nsv

nsv

L08-114 AAD

 

 

 

nsv

nsv

L08-115 AAD

280.5

301.2

20.7

979

0.10

20

<1

L08-116 TooGood

262.2

308.8

46.6

1152

0.12

12

<1

L08-117 TooGood

285

294

9

nsv

238

1.6

L08-118 TooGood

174

186

12

1372

0.14

<10

<1

L08-119 TooGood

88.6

153

64.4

996

0.10

<10

<1

  incl.

126.2

153

26.8

1211

0.12

<10

<1

L08-120 Lower Main

8

167.2

159.2

6080

0.64

226

0.304

3.5

  2nd zone

262.5

321.3

58.8

915

24

<1

  2nd zone incl

262.5

284.6

22.1

1497

0.16

27

<1

  Both zones combined

8

284.6

276.6

3720

0.39

136

2.2

L08-121 Bishop Ext

89.8

326

236.2

1730

0.19

42

<1

  incl.

89.8

213.1

123.3

2751

0.31

57

<1

  incl.

158.3

213.1

54.8

5191

0.59

96

1.0

  incl.

158.3

182.3

24

9841

1.13

135

0.151

1.3

L08-122 New

144.8

149.3

4.5

1124

0.13

25

<1

   

201.1

203.1

2

4781

0.57

76

1.9

L08-123 New

59.4

59.9

0.5

5500

0.60

<10

2.4

L08-124 Page Bowl

43.5

50.4

6.9

1179

0.15

16

1.1

L08-125 New

 

 

 

nsv

L08-126 New

57

60.3

3.3

1057

15

<1

  New

174

183

9

937

<10

<1

L08-127 TooGood

 

 

 

nsv

L08-128 Bishop Ext

66

359

293

1050

68

<1

  incl.

184

207.4

23.4

4648

0.49

364

0.361

1.3

  incl.

281

301

20

2981

0.31

223

0.233

1.4

  incl.

335

359

24

1808

0.20

104

1.1

L08-129 AAD

 

 

 

nsv

* Au by Aqua regia decomposition / solvent extraction / AAS
*** Au by Fire assay – lead collection / AA finish / 1 A.T.

nsv = no significant values

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Eastfield Intercepts 8.20 g/t Gold Over 0.3 m, 209.0 g/t Silver Over 0.5 m at Indata

Eastfield Resources has received the assays from five diamond drill holes (1,035 metres) completed in October on the Indata property in northern B.C., located 120 km north of Fort St. James.

There are two exploration targets on the Indata property, a porphyry copper target and a structurally controlled precious metal vein target. The 2008 exploration program consisted of one drill hole (08-I-01) in the porphyry copper target and four holes (08-1-02 to 08-I-05) in the precious metal vein target.

The precious metal target was tested over a distance of 1,500 metres following the upslope trend of an arsenic soil geochemical anomaly believed to define a structural feature which has previously returned a number of gold-silver intercepts, including a 4.0 metre intercept grading 46.20 g/t gold from a 1988 drill program by Eastfield. A number of core samples from the recent drilling returned a number of narrow gold and/or silver intercepts with associated arsenic and bismuth values. Significant results are summarized as follows:

Hole

From
(m)

To
(m)

Sample Length (m)

Copper
%

Gold
g/t

Silver
g/t

08-I-01

18.3

181.7

163.4

0.14

including

123.0

150.0

27.0

0.27

08-I-02

76.5

76.8

0.3

0.18

8.20

4.4

08-I-03

36.7

38.3

1.6

0.14

0.42

79.9

including

37.2

37.7

0.5

0.13

0.40

209.0

Mineralization being targeted at Indata is modeled after the prolific Motherlode deposits in California, where cumulative production has exceeded in excess of 100 million ounces of gold. A key assumption to the model is the occurrence of gold-silver mineralization along the Pinchi Fault trend in the Indata region of central BC being analogous to the Melones Fault in the Motherlode region of California. New exposures of precious metal mineralization which are located 800 to 2,000 metres further to the north were made in 2007 when excavator trenches exposed narrow veins which returned samples including 17.16 g/t gold and 9.84 g/t gold respectively. The 2007 vein material was again found to be highly anomalous in arsenic, bismuth, antimony, mercury, selenium and tellurium providing a signature for gold mineralization of this type. This area was not tested in the current program and a robust soil anomaly also discovered in 2007 remains to be tested as well.

MAX Resource, who holds the property under option, is currently reviewing the 2007 exploration data along with data from the 1988 Placer Dome funded exploration program with the objective of evaluating and determining the geologic controls for the mineralized system at Indata in order to define possible drill targets for the 2009 exploration season. MAX is very pleased with confirming high-grade values from historic exploration in drill hole 08-I-02 and will be modeling the work done in the eighties and nineties to better define the structurally controlled target. Examination of the 2007 exploration trenches will also help to understand the system and to locate exploration targets.

Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-ES) techniques. Bruce Laird, P.Geo., Mincord Exploration Consultants Ltd., supervised the 2008 drilling program and sampling protocol. J.W. Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.

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