Alhambra Resources Ltd.: Two New Zones of High Grade Gold Mineralization Discovered at Shirotnaia -Additional Assays Pending
05 Gennaio 2011 - 1:00PM
Marketwired Canada
Alhambra Resources Ltd. (TSX VENTURE:ALH) ("Alhambra" or the "Corporation")
announces that its diamond drilling program at Shirotnaia has resulted in the
discovery of two new zones of higher grade gold mineralization. The Shirotnaia
zone ("Shirotnaia") is located within its 100% owned Uzboy Project in Kazakhstan
(see location map, Figure 1) and is immediately adjacent to the Aksu and
Quartzite Hills gold deposits currently being mined by KazakhGold Group Limited
("KazakhGold").
HIGHLIGHTS
-- Diamond Drill Hole ("DDH") 100-02 intersected 4.32 grams per tonne
("g/t") gold over an interval of 36.0 metres ("m") including a higher
grade interval of 16.80 g/t gold over 9.0 m
-- DDH 32-02 intersected 2.13 g/t gold over an interval of 20 m
-- Broad intervals of anomalous gold concentrations (for +0.10 g/t) were
intersected in all nine drill holes
DRILLING PROGRAM
The drilling program consisted of nine holes totaling 1,141 m (see Figure 2).
The objective of this drilling program was to test the depth extension of the
large gold anomaly previously outlined by the 2008 Rotary Air blast ("RAB")
drilling program. Two significant widths of high grade gold mineralization were
encountered within a large area of lower grade gold mineralization, suggesting
the probable continuation of the high grades to depth as is usual for this style
of mineralization. In fact, previous RAB drilling programs completed in
Shirotnaia identified a large gold anomaly and significant gold mineralization
with a high peak gold grade of up to 51.6 g/t (see news release dated March 4,
2010).
The nine wide spaced DDHs confirmed the presence of two NE striking zones of
hydrothermal alteration (quartz-sericite-chlorite-carbonate) that hosts numerous
zones of significant (greater than 0.10 g/t) gold mineralization in each drill
hole. The weighted average grade of the significant intervals of gold
mineralization was estimated using a 0.20 g/t cutoff. The host lithologies are
interbedded andesite volcanic and volcaniclastic rocks cut by andesite and
diorite dikes as well as NE and NW striking faults. The mineralization and
alteration at Shirotnaia is typical of orogenic volcano-sediment style of gold
mineralization that is both structurally and lithologically controlled. The
mineralized zones remain open along strike and at depth.
An in-fill reverse circulation ("RC") drilling program consisting of 43 holes
totaling 2,250 m has also been completed at Shirotnaia to further enhance and
understand the geometry of the large zone of anomalous gold mineralization
previously outlined at Shirotnaia. Assay results for these samples are still
pending.
"These very encouraging results continue to support our interpretation that the
three zones of gold mineralization discovered at Shirotnaia have the potential
to be the northern extension of the multi-million ounce Aksu and Quartzite Hills
gold deposits located immediately south of Shirotnaia," stated Mr. John J.
Komarnicki, Alhambra's Chairman and Chief Executive Officer. "In our opinion,
the combination of the hydrothermal alterations and distinct zones of widespread
gold mineralization supports an extensive exploration program in 2011 consisting
of diamond drilling and reverse circulation drilling which will be focused on
further defining both the potential and dimensions of Shirotnaia."
The 2011 exploration program for Shirotnaia will be finalized when all of the
assay results from the 2010 program have been analyzed and interpreted.
Table 1 - Summary Drilling Results
----------------------------------------------------------------------------
Inter- Grade Mineral-
From To val Au ization
Zone Section DDH# Length Azimuth Dip (m) (m) (m) (g/t) Type
----------------------------------------------------------------------------
S DDH
o 28-
u 28 04 150.0 330 -60 0.0 1.2 1.2 0.63 Oxide
t -----------------------------------------------------------------------
h 4.1 9.1 5.0 1.53 Oxide
-----------------------------------------------------------------------
Z 14.5 15.8 1.3 0.43 Transition
o -----------------------------------------------------------------------
n 18.8 35.7 16.9 0.28 Transition
e -----------------------------------------------------------------------
41.2 43.6 2.4 0.36 Transition
-----------------------------------------------------------------------
47.3 57.6 10.3 0.73 Transition
-----------------------------------------------------------------------
DDH
32-
32 02 170.9 150 -60 0.0 12.0 12.0 0.32 Oxide
-----------------------------------------------------------------------
15.0 18.0 3.0 1.01 Oxide
-----------------------------------------------------------------------
44.0 49.0 5.0 0.24 Transition
-----------------------------------------------------------------------
54.0 74.0 20.0 2.13 Transition
-----------------------------------------------------------------------
including 54.0 59.0 5.0 3.53 Transition
----------------------------------------------------------------------------
N DDH
E 72-
72 01 106.5 150 -60 22.0 28.0 6.0 0.28 Oxide
E -----------------------------------------------------------------------
x 66.0 105.0 39.0 0.30 Sulphide
t -----------------------------------------------------------------------
e including 91.0 105.0 14.0 0.45 Sulphide
n -----------------------------------------------------------------------
s DDH
i 72-
o 02 104.0 150 -60 41.0 45.0 4.0 0.28 Sulphide
n -----------------------------------------------------------------------
64.0 77.0 13.0 0.31 Sulphide
-----------------------------------------------------------------------
Sulphide
94.0 104.0 10.0 0.49 (EOH)
-----------------------------------------------------------------------
DDH
72-
03 107.0 150 -60 4.0 9.0 5.0 0.56 Oxide
-----------------------------------------------------------------------
53.0 60.0 7.0 0.29 Sulphide
-----------------------------------------------------------------------
73.0 82.0 9.0 0.22 Sulphide
-----------------------------------------------------------------------
91.0 97.0 6.0 0.26 Sulphide
-----------------------------------------------------------------------
102.0 104.0 2.0 0.36 Sulphide
-----------------------------------------------------------------------
DDH
72-
04 100.0 330 -60 22.0 42.0 20.0 0.26 Transition
-----------------------------------------------------------------------
45.0 53.0 8.0 0.27 Sulphide
-----------------------------------------------------------------------
DDH
100-
100 01 101.0 150 -60 18.0 31.0 13.0 0.36 Transition
-----------------------------------------------------------------------
52.0 57.0 5.0 0.42 Sulphide
-----------------------------------------------------------------------
DDH
100-
02 150.9 150 -60 43.0 79.0 36.0 4.32 Sulphide
-----------------------------------------------------------------------
including 49.0 58.0 9.0 16.80 Sulphide
-----------------------------------------------------------------------
93.0 96.0 3.0 0.44 Sulphide
-----------------------------------------------------------------------
DDH
100-
03 150.2 150 -60 13.0 18.0 5.0 0.33 Sulphide
-----------------------------------------------------------------------
22.0 35.0 13.0 0.55 Sulphide
-----------------------------------------------------------------------
41.0 47.0 6.0 0.30 Sulphide
-----------------------------------------------------------------------
69.0 85.0 16.0 0.41 Sulphide
----------------------------------------------------------------------------
The intervals set out in the above table are not true widths and the assay
results are uncut.
The weighted average grade of the mineralized interval in DDH 100-02 from 43.0 m
to 79.0 m is strongly influenced by the following sample results; from 49.0 m to
50.0 m of 24.0 g/t, from 50.0 m to 51.0 m of 77.7 g/t, from 55.0 m to 56.0 m of
10.6 g/t and from 56.0 to 57.0 m of 19.8 g/t gold.
DIAMOND DRILLING AND SAMPLING PROCEDURES
An NQ diamond drilling core barrel was utilized and average core recovery was
99%. The core was split by the drilling contractor under the supervision of the
Corporation's geologists with one half used for sampling and another half left
for references. Every meter of core was sampled and the exact borders of the
sampling interval were determined according to the lithological contacts. The
average sample weight was 2 kilograms.
Sample preparation was completed by Stewart Assay and Environmental Laboratories
located in Kyrgyzstan using the following procedure: samples were crushed to
minus 2 mm, mixed and split into two 200 gram sub-samples. One sub-sample was
pulverized to - 200 mesh and the other sub-sample was retained for reference
purposes. A 30 gram sample of the -200 mesh material was used for fire assay
atomic absorption finish. Stewart Assay and Environmental Laboratories is
independent of Alhambra and does have an International Standard Organization
("ISO") 17025 accreditation.
QUALITY ASSSURANCE QUALITY CONTROL
The Kyrgyzstan Stewart Assay and Environmental Laboratories, as a part of
Stewart Group, have stringent quality assurance and quality control ("QA/QC")
procedures. Alhambra also follows a rigorous QA/QC program consisting of
inserting standards, blanks and duplicates into the sample stream submitted to
the laboratory for analysis to ensure that the sampling and analysis of all
samples is conducted in accordance with the best possible practices.
Elmer B. Stewart, MSc. P. Geol., a technical consultant, is the Corporation's
nominated Qualified Person as defined by National Instrument 43-101, and has
reviewed and verified the technical information contained in this news release.
ABOUT SHIROTNAIA
Shirotnaia is one of Alhambra's 2011 advanced drilling targets within the
Corporation's 100% owned, 2.7 million acre, Uzboy Project located in north
central Kazakhstan. The Shirotnaia gold discovery is located approximately 3
kilometres ("kms") northeast of the KazakhGold Group Limited ("KazakhGold")
mining allotment which hosts the Aksu and Quartzite Hills gold deposits having
reported resources of approximately 15 million ounces(1). The large target area
of Shirotnaia, as indicated by gold soil anomaly, measures approximately 3.4 kms
by 1.5 kms and is contained within the even larger original target area of 10.0
kms by 2.0 kms which remains to be explored by more modern methods. More details
about the project geology and the previous exploration results are available on
the Corporation's website.
(1) As per KazakhGold's Annual Report & Accounts for the period January 1 to
December 31, 2006
ABOUT ALHAMBRA
Alhambra is a Canadian based international exploration and gold production
corporation celebrating its eighth year of operations in the Republic of
Kazakhstan. Alhambra holds exploration and exploitation rights to a 2.7 million
acre (11,000 km(2)), 100% owned, license called the Uzboy Project, located in
the Northern Kazakhstan Metallogenic Province which hosts numerous world-class
gold deposits. Over 100 mineral targets, including 5 advanced exploration plays
are contained within the Uzboy Project.
Alhambra common shares trade in Canada on The TSX Venture Exchange under the
symbol ALH, in the United States on the Over-The-Counter Pink Sheets Market
under the symbol AHBRF and in Germany on the Frankfurt Open Market under the
symbol A4Y. The Corporation's website can be accessed at
www.alhambraresources.com.
Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking
statements" as such term is used in applicable Canadian and US securities laws.
These statements relate to analyses and other information that are based on
forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. In particular, statements concerning the anticipated
exploration drilling program and other factors and events described in this news
release should be viewed as forward-looking statements to the extent that they
involve estimates thereof. Any statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always,
using words or phrases such as "expects" or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans, "estimates" or "intends", or
stating that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved) are not statements of historical fact
and should be viewed as "forward-looking statements". Such forward looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the
Corporation to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such risks
and other factors include, among others, lack of certainty that additional
drilling will extend the mineralized intersection mentioned in this news release
or that additional drilling will locate additional gold mineralization, timing
to complete the drilling program, availability of capital to fund exploration;
political, social and other risks inherent in carrying on business in a foreign
jurisdiction, the effects of a recessionary economy and such other business
risks as discussed herein and other publicly filed disclosure documents.
Although the Corporation has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate as
actual results and future events could vary or differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements contained in this news release.
Forward looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Corporation undertakes no
obligation to update forward-looking statements and if these beliefs, estimates
and opinions or other circumstances should change, except as required by
applicable law.
This news release contains forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. When used
herein, words such as "intended" and similar expressions are intended to
identify forward-looking statements. Forward-looking statements are based on
assumptions by and information available to the Corporation. Investors are
cautioned that such forward-looking statements involve risks and uncertainties.
Actual results may differ materially from those currently anticipated. The
forward-looking statements contained herein are expressly qualified by this
cautionary statement.
To view Figure 1 - Uzboy Project, please visit the following link:
http://media3.marketwire.com/docs/alhambra-fig1.pdf
To view Figure 2 - Shirotnaia 2007 and 2010 Diamond Drilling Results, please
visit the following link: http://media3.marketwire.com/docs/alhambra-fig2.pdf
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