VANCOUVER,
Nov. 13, 2012 /CNW/ - Alpha Gold
Corp. (TSXV: ALQ) (the "Company") is pleased to announce that
further to the news release of October 24,
2012, with respect to the Aurora Geosciences Ltd. Deposit
Potential and Data Valuation of the Lustdust property (the
"Compilation"), the Company has decided to proceed on certain
priorities for its proposed 2013 exploration program.
Attached to this news release is a Target Area
Map which documents primary areas Aurora has identified for further
exploration.
The Company will pursue the following
opportunities, subject to financing:
1. Inverting Geophysical Data on
Target 8:
- It is envisioned this inversion data could identify the limits
of the Glover Stock. There is a ZTEM airborne response associated
with known mineralization on the east side of the Glover
Stock. A second airborne ZTEM response occurs on the west
side of the Glover Stock which may be identifying additional
mineralization at depth and supports the hypothesis the Skarn in
this area is larger than previously understood.
- The Compilation concludes - "The geophysical response of this
anomaly is similar to the anomaly on the eastern side of the Glover
Stock which hosts the Canyon Creek Skarn deposit. Exposed but
unmineralized limestone stratigraphy at surface, immediately west
of the Glover Stock, supports the possibility of Skarn-hosted
sulphide mineralization at depth."
There are drill ready targets within
Target 8 and the 2013 work will focus on selecting the most
promising targets.
2. Exploration of Target 9:
- This Target covers the interpreted sub-surface extent of the
Glover Stock.
- As noted by Aurora, "The multi-phase Glover Stock is
interpreted to be the source of ore bearing fluids to the Canyon
Creek Skarn Deposit. The Glover Stock is host to porphyry
alteration and mineralization assemblages at surface and at
depth."
- The Company will complete inversion modeling of the magnetic
and ZTEM data to confirm whether the mineralized intrusive complex
may be more extensive than originally interpreted, hence providing
additional significant exploration potential.
3. Ground exploration on Target 10 which could
identify a northern extension of the mineralized system, to the
south, discovered by Serengeti Resources (Central and South Zone
Deposits).
Gary Vivian, M.Sc, P. Geo, of Aurora
Geosciences Ltd., is a designated Qualified Person as defined by
National Instrument 43-101 and has reviewed and approved the
technical information in this news release.
Aurora's report entitled "Deposit Potential and Data Evaluation of
the Lustdust Property" dated October 23,
2012, will be filed on SEDAR within 45 days, as is
required.
About Alpha Gold Corporation
Alpha Gold is a
mineral exploration company whose 100%-owned, royalty-free,
Lustdust Property is advantageously situated with nearby road and
rail access in north-central British
Columbia. Lustdust consists of 20 contiguous mineral claims
covering 9,583 hectares and contains twelve known mineralized
areas, of which the copper-gold-silver Canyon Creek Skarn Deposit
has a NI 43-101 compliant resource. Alpha Gold Corporation has
approximately 47.2 million shares issued and outstanding, 51.4
million fully diluted. Shares are listed on the TSX Venture
Exchange under the symbol "ALQ".
- Carl Pines,
CEO, Director, on behalf of Alpha Gold Corp.
Should you wish to receive Company news via
email, please contact michelle@chfir.com and specify "Alpha
Gold News" in the subject line.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Statements in this
release that are forward-looking statements are subject to various
risks and uncertainties concerning the specific factors disclosed
under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such
information contained herein represents management's best judgement
as of the date hereof based on information currently available. The
Company does not assume the obligation to update any
forward-looking statement.
SOURCE Alpha Gold Corp.
PDF available at:
http://stream1.newswire.ca/media/2012/11/13/20121113_C7069_DOC_EN_20502.pdf