Alphamin Resources Corp. : UPDATE ON BISIE TIN PROJECT, DEMOCRATIC REPUBLIC OF CONGO ("DRC")
(Thomson Reuters ONE) -
205 - 16055 Fraser Highway, Surrey, B.C. V4N 0G2 Tel: (604) 507-2181 Fax: (604)
507-2187
www.alphaminresources.com
News Release 2012-2
Vancouver, Canada - February 29, 2012 - Alphamin Resources Corp. (AFM: TSXV,
"Alphamin" or the "Company") is pleased to announce that it has lifted the state
of Force Majeure on its PR5266 which hosts the Bisie Tin Project in the North
Kivu Province, east central DRC, and has planned a diamond drilling programme
to commence at the beginning of the second quarter, 2012.
The Bisie tin deposit is located within the Walikale District roughly 140km
west-northwest of the regional centre of Goma in one of the world's principal
Precambrian orogenic-metallogenic provinces. Tin was first discovered at Bisie
in 2004 where high grades of tin mineralization attracted a large artisanal
mining community controlled by local militias, which prevented Alphamin-
controlled and DRC-registered MPC SPRL from doing systematic exploration and
prompted eventual declaration of the state of Force Majeure.
Upon request, MPC SPRL was notified of the lifting of the Force Majeure on
13(th) February by the Congolese Cadastre Miniere which allows the Company in
excess of 3 years to conduct its exploration activities before expiry of the
initial grant period.
A suitable drill rig and helicopter have been contracted and will be mobilized
to site at the beginning of the second quarter of 2012. An initial 2800 metres
are planned to test the depth extension of quartz-cassiterite veins mined
previously by artisanal miners and will cover roughly 1km of previously
identified mineralization. Holes will test mineralization down to 100-150m below
surface. A second more extensive phase of drilling will be planned according to
results of the first phase of diamond drilling.
Tin mineralisation has been defined over 1km along a ridge which continues for
more than 9km on the property. A soil sampling programme will be carried out
over the full extent of the ridge to define additional tin target areas for
follow up with trenching and drilling.
The Company has an experienced management team in place and has set up an office
in Goma. Procurement of consumables and geological equipment is well under way
and the camp at Bisie will be refurbished to accommodate exploration staff.
Lars M. Pearl, MAIG, a qualified person under National Instrument 43-101, has
verified the technical data disclosed in this release.
ON BEHALF OF THE BOARD OF DIRECTORS
"Cosme Maria Beccar Varela"
Cosme Maria Beccar Varela,
President and CEO
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responsibility for the adequacy or accuracy of this News 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,
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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.
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Source: Alphamin Resources Corp. via Thomson Reuters ONE
[HUG#1590290]
Unternehmensinformation / Kurzprofil:
Datum: 01.03.2012 - 10:01 Uhr
Sprache: Deutsch
News-ID 120703
Anzahl Zeichen: 4805
contact information:
Town:
Vancouver, BC
Kategorie:
Business News
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"Alphamin Resources Corp. : UPDATE ON BISIE TIN PROJECT, DEMOCRATIC REPUBLIC OF CONGO ("DRC")"
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