Alpha Exploration Announces Results of Geophysical Survey of Tolegimja VMS Prospect, Kerkasha Project, Eritrea
Alpha Exploration Announces Results of
Geophysical Survey of Tolegimja VMS
Prospect, Kerkasha Project, Eritrea
Calgary, Alberta--(Newsfile Corp. - January 20, 2022) -
Alpha Exploration Ltd.
(TSXV: ALEX
)
("
Alpha
" or the "
Company
") is pleased to announce results of an Induced Polarization ("IP")
geophysical study and detailed structural mapping over one of the Company's prime volcanogenic-
massive-sulphide ("VMS") prospects known as Tolegimja located in the northeastern part of its large
Kerkasha Project in Eritrea.
The 3D IP Resistivity survey was carried out at Tolegimja in July-September 2021 by the Canadian
contractor Geophysique TMC.
The survey was designed, and the results interpreted by independent
consulting company Southern Geoscience Consultants ("SGC"), West Perth WA Australia.
Extracts from
SGC's report are as follows:
"Two targets (TOL-1, TOL-2) rated as high priority are highly chargeable, conductive, well-
defined, extensive bodies extending to depth. They correlate well with anomalous copper
in soil and rock chip sampling."
"A third high priority target (TOL-3) is a relatively small, highly chargeable, conductive
zone extending from near surface towards TOL-1 and may join it. It correlates directly
with mapped gossan and anomalous copper geochemistry."
In addition, the Tolegimja prospect was mapped in detail by consultant Dr. Ghislain Tourigny in
November and December 2021. In his report Dr. Tourigny says the following:
"Overall, the geological and metallogenic environments of the polymetallic Cu-Zn ± Au
anomaly of the Tolegimja prospect share many characteristics with volcanogenic
massive sulphide deposits classified as bimodal-mafic type" and
Tolegimja is also characterized by a significant IP anomaly that is found from a depth of ~
55 m up to a depth of 295 m. This chargeable anomaly must correspond to disseminated
sulphides found in a highly prospective rock volume and merits testing with RC drilling.
This prospect is ready to drill."
The Tolegimja prospect is one of 17 prospects identified by the Alpha exploration team on its 100%
owned Kerkasha Project in southern Eritrea. The prospect was initially a discovery by Alpha geologists
while taking property-wide soil geochemical samples. More detailed soil sampling (100mx100m)
indicated elevated copper, zinc and gold values in soils over an area measuring approximately 3 km by
1.5km. Alpha believes that Tolegimja represents VMS style mineralization based on the local presence
of gossans and elevated copper rock chip samples up to 6.53% Cu taken from a northeast trending
zone located between a rhyolite and mafic volcanics - see Map 1 below.
MAP 1 - Tolegimja VMS Prospect showing geology, rock chip sampling and IP chargeability
results
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8361/110969_b5092989a46da834_001full.jpg
Michael Hopley, Alpha President and CEO comments: "Tolegimja was already a compelling
drill target but the recent results from the IP survey and Dr. Tourigny' s report certainly
enhance the potential success of drilling Tolegimja.
The prospect has not been previously
drilled; Alpha plans to drill the first holes in the next few weeks."
About Alpha
Alpha is an exploration company listed on the TSX-V exchange under the symbol ALEX. The company 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 km
2
) 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 approximately CAD$11 million on exploration and identified 17 in prospects of which four have
been drilled to date. The large Anagulu gold-copper porphyry system was a virgin discovery by Alpha
geologists in early 2018, that was made while executing a property-wide soil sample program. The
discovery diamond hole was drilled in January 2020 and reported a 49-m wide interval with an average
grade of 2.42 g/t gold, 1.10% copper and 6.83 g/t silver. Work continues at Anagulu, and the Company
plans to drill four other prospects later this year.
Alpha 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.
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:
Tel: +44 207129 1148
Qualified Person
All scientific and technical information in this press release, including the results of the Tolegimja IP
survey 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.
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