Significant gold discoveries: Alpha Exploration drills 9m of 10g/t gold in Eritrea

Gold discovered at the “Aburna” deposit on the “Kerasha” project in Eritrea expanded the known mineralization and provides exciting information about its structure.

Alpha Exploration Ltd.

Successful gold discovery in Eritrea: Alpha Exploration Ltd. (TSXV: ALEX, WKN: A3DLBX, ISIN: VGG3198S1074, Ticker: ALXPF) has encountered significant gold grades in its recent drilling campaign at the "Aburna" gold deposit. "Aburna" is an orogenic gold project of approximately seven by two kilometers within the 771 square kilometer, 100 percent owned flagship "Kerasha" project; Alpha Exploration has currently identified six priority targets there. As the company announced on Wednesday, the latest drilling campaign intersected a nine-meter interval containing 10 grams of gold per ton.

Michael Hopley, CEO and President of Alpha Exploration, said it was important to focus on the most promising targets due to the scale of the project. The results of the recent drilling program have established the northeastern area of ​​the property as such. Subsequent digging, the results of which should be available shortly, has already been completed. Subject to funding, an aggressive drilling program is planned for later this year. The focus will be on three main targets, which have emerged from previous work on the property and extend over a combined strike length of five kilometers. The aim is to further delineate the mineralized “lenses” on “Aburna”. Corresponding work is scheduled to begin in 2024.

The highlights

The current significant discoveries of the drilling campaign all come from the "Northeast" area. The holes crossed there

• ABR078: 9 meters averaging 5.99 grams gold per ton,
• ABR092: 9 meters averaging 10.00 grams of gold per ton, and
• ABD008: 3 meters averaging 53.39 grams gold per tonne, including a one meter interval averaging 158 grams gold per tonne.

Hole ABR078 extended an important extension of gold mineralization, which had already been defined by three other holes, to a length of more than 200 meters. Hole ABR092, along with a previously reported hole, also indicated evidence of a separate mineralized structure with a strike length of more than 200 meters. Another hole, ABR079, which intersected 30 meters at 0.48 grams per tonne gold, extended mineralization by 400 meters along the main 1.2 kilometer trend.

Two significant mineralized structures with a total length of more than 400 meters were also defined. The drilling reinforces the potential for a 1.2 kilometer mineralized target at Northeast. This was identified in the most recent GAIP (Gradient Array Induced Polarization) and ground magnetic surveys, which the company reported last month.

The drilling program

The aim of the previous drilling campaign was to gain a better understanding of the control of mineralization in four drilled areas and to establish strike continuity through exploratory drill holes with a large offset from the already known mineralization. Between February and July, 28 RC drillings (reverse drillings) and five diamond drillings, for a total of 33 holes, were drilled on "Aburna". The RC drillings were divided into 16 holes totaling 2,634 meters in the "Northeast" area and six holes each (totaling 1,218 meters and 904 meters respectively) in the "Central" and "Celebration Hill" areas.

Four exploratory holes were also drilled 400 meters northeast of current drilling at Northeast. There the continuation of the mineralized structure was mapped; Channel samples indicate strong gold mineralization at surface.

The five diamond holes (one each at Hill 52, Northeast and Celebration Hill and two at Central) were designed to delineate the mineralogy and structure of the high-grade mineralization previously drilled by Alpha Exploration.