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VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 29, 2012) –
Alphamin Resources Corp. (TSX VENTURE:AFM) (“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 13th 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, President and CEO
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, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any 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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