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Annoucements - Mar 31

Alpha Exploration Announces Drilling Intersection of 27 meters Averaging 2.67 g/t Gold, 0.89% Copper and 6.64g/t Silver from the latest drilling at Anagulu Gold-Copper Prospect, Kerkasha Property, Eritrea

 March 31, 2021

Alpha Exploration Ltd. (“Alpha” or the “Company”) is pleased to announce assay results from its Phase 2 drilling program at the Anagulu gold-copper prospect (the “Anagulu Prospect” or “Anagulu”) on the Company’s 100% owned Kerkasha Property located in southern Eritrea (“Kerkasha” or the “Kerkasha Property”).

A 3,340-meter drilling program consisting of seven deep diamond drill holes (AND00003 to AND009) varying from 315 meters to 597 meters deep at the Anagulu Prospect was completed in January 2021 and assays for gold and copper have now been received for all holes. The holes were drilled to test a short portion (240 meters) of the two-kilometer long Induced Potential (“IP”) geophysical anomaly identified from an IP survey in February 2020. The anomaly is coincident with elevated gold-copper values in soil and rock chip sampling that also extend for a strike length of over 2 kilometers at Anagulu.

Michael Hopley, President and CEO commented: “The Phase 2 drilling results confirm the occurrence of the high-grade gold and copper mineralization found in the Phase 1 drilling at Anagulu as well as the presence of widespread gold-copper possible porphyry-style mineralization with disseminated sulphides over a strike length of over 240 meters and down to a vertical depth of over 400 meters which explains the large IP chargeability anomaly. The drill core is currently being subject to laboratory testing in preparation for a more detailed IP survey with the object of pin-pointing higher grade mineralized zones at Anagulu which will be tested in a Phase 3 drilling program.”

Table 1 Summary of Anagulu Phase 2 Assay Results

Drill Hole Depth

(m)

From

(m)

To

(m)

Interval

(m)

Gold

(g/t)

Copper

(%)

Silver

(g/t)

AND003 523 173 243 70 0.14 0.12 0.56
and 341 344 3 5.86 0.11 1.09
AND004 597.4 165 202 37 0.06 0.11 0.43
AND005 314.6 99 208 109 0.79 0.35 2.21
and 121 148 27 2.67 0.89 6.64
AND006 496 241 253 12 0.09 0.11 NA*
AND007 424.2 225 280 55 0.08 0.12 NA*
AND008 405.5 225 343 118 0.21 0.13 NA*
AND009 579.6 145 154 9 0.27 0.11 NA*

*Silver assays not yet available

 

Figure 1: Drill location plan – Northeast Anagulu with Phase 2 drill holes in red

Assay results show that drill hole AND005 confirmed the presence of the high-grade gold-copper zone discovered in the Phase 1 drilling with an intersection of 27 meters averaging 2.67 g/t gold, 0.89% copper and 6.64 g/t silver within a wider 109-meter zone averaging 0.79 g/t gold, 0.35% copper and 2.21 g/t silver. Most of the other holes confirmed the presence of wide and deep low-grade gold and copper mineralization over a strike length of 240 meters and down to at least 400 meters from surface.

The Anagulu Prospect is located on the south-west part of the large 1,028 km² Kerkasha Property in southern Eritrea. It is a large area of copper oxide staining at surface discovered by Alpha geologists while completing a property-wide soil sampling program. Localized soil and rock chip sampling verified strong gold and copper mineralization at surface covering an area over 2 km long and several hundred meters wide. The first phase of drilling started in December 2018 and was completed in February 2020 with the first diamond drill hole AND-001 reporting a 52-meter section with an average grade of 2.33 g/t gold, 1.05% copper and 6.53 g/t silver.  In addition, several other drill holes in the same area exhibited significant gold and copper mineralization. See Table 2 below for a summary of best intercepts from Phase 1 drilling at the Anagulu Prospect.

Table 2 Summary of Anagulu Phase 1 Assay Results

Drill Hole From

(m)

To

(m)

Interval

(m)

Gold

(g/t)

Copper

(%)

Silver

(g/t)

ANR015 94 136 42 0.29 0.18 0.78
AND016 151 158 7 12.39 0.05 0.51
AND017 9 90 81 0.54 0.28 1.37
AND029 48 118 70 0.56 0.37 1.71
AND001 80 132 52 2.33 1.05 6.53

Note: ANR prefix holes are Reverse Circulation (RC) drill holes; AND prefix holes are Diamond drill holes.

Because of the strong and widespread gold and copper mineralization seen at surface and the association of this mineralization with disseminated sulphides and silica flooding seen in the Anagulu Phase 1 drill core, Alpha initiated an independent IP and resistivity geophysical survey over the prospect to help define future drill targets. The results showed impressive strong coincident chargeability and resistivity anomalies from close to surface to depths of approximately 300 meters (the depth extent of the surveys); these were the Phase 2 targets.

Work is presently ongoing at Kerkasha on many of the eighteen currently identified gold and base metal prospects on the property. This work consists of soil sampling, rock-chip sampling and detailed geological mapping in preparation for drilling. Alpha is planning on drilling four to five of these prospects within the next few months.

Quality Assurance and Data Verification

A Quality Assurance/Quality Control program developed by an independent consultant group (RSC Mining & Mineral Exploration Consultants), was part of the Phase 2 drill program at the Anagulu Prospect. This program includes chain of custody protocols (Standard Operating Procedures) and systematic submittals of standards, duplicates and blank samples into the flow of samples produced from the drilling. Samples were prepared at Nabro Laboratory in Asmara, Eritrea. Samples were analyzed by ALS Laboratories, Ireland. True thickness is estimated to be 80 to 90% of the reported drill intervals.

Qualified Person

All scientific and technical information in this press release, including the results of the Anagulu Prospect Phase 2 drilling 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.

 

About Alpha Exploration.

 

Alpha Exploration is a mineral exploration company that focuses on exploration of the very prospective Arabian-Nubian shield and owns 100% of the Kerkasha Project in southern Eritrea. Alpha plans to be a public listed company in Q2 of 2021. For more information see the Alpha website www.alpha-exploration.com

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Alpha Exploration Corp.

 

Signed “Michael Hopley”

 

Michael Hopley,

President and Chief Executive Officer

Forward Looking Information

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:  additional exploration and development work to be performed at the Anagulu Prospect and the Phase 3 drilling program at Anagulu Prospect, including the nature and timing of such drilling and the results therefrom. 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 prices 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; and other risk factors as detailed from time to time. Alpha does