Alhambra Resources Ltd. (TSX
VENTURE:ALH)(PINKSHEETS:AHBRF)(FRANKFURT:A4Y) ("Alhambra" or the
"Corporation"), an international gold producer and explorer,
announces assay results for eight of 18 diamond drill holes ("DDH")
completed at its 100% owned Shirotnaia Gold Project ("Shirotnaia").
Diamond drilling has intersected higher-grade gold mineralization
(+1.0 grams per tonne gold ("g/t Au")) over core intervals ranging
from 6.4 metres ("m') to 135.6 m (down-hole). These higher-grade
intervals define a core gold mineralization zone interpreted to be
at least 1,200 m long enveloped by an aureole of lower grade (less
than 1.0 g/t) gold mineralization with dimensions of 1,800 m by 750
m which remains open in three directions and at depth. This release
includes one of the best drill holes to date on the project which
entered strong mineralization from surface and retuned an interval
of 135.6 m averaging 1.12 g/t Au.
Shirotnaia is one of three advanced exploration project areas
Alhambra is exploring within its 9,800 square kilometre ("km2")
(2.4 million acre) Uzboy Gold Project located in north central
Kazakhstan (see location map, Figure 1). Shirotnaia is immediately
adjacent to the multi-million ounce Aksu and Quartzite Hills gold
deposits currently being mined by KazakhGold Group Limited
("KazakhGold").
HIGHLIGHTS
-- The best mineralization intersected included: 1.12 g/t Au over 135.6 m,
1.47 g/t Au over 27.4 m, 1.73 g/t over 17.5 m and 1.56 g/t Au over 18.2
m,
-- Gold mineralization in the area is now outlined by four higher grade
(+1.0 g/t Au) zones, one measuring about 1,200 m in length and 6.4 m to
135.6 m in width (down-hole).
-- Seven of the holes returned intercepts with gold grades greater than 1.0
g/t Au and in four of the holes these grade intervals have core lengths
greater than 6.0 m,
-- 38 mineralized intervals (of variable widths) with gold grades of
greater than 0.2 g/t Au were intersected in the eight holes assayed (see
Table 1).
Mr. John J. Komarnicki, Alhambra's Chairman and Chief Executive
Officer stated, "These latest Shirotnaia results are very
encouraging. The presence of 100 gram-meter intervals of gold from
surface is a strong indication of upside potential for Shirotnaia.
We are now delivering considerable thickness of potentially
economic grades in several areas, and the strike length for this
higher-grade zone is now over a kilometre. We expect to see the
Shirotnaia resource grow and the grade to improve as our technical
team continues with exploration drilling. The Shirotnaia deposit is
likely to be a significant gold system on a standalone basis, and
it is just one of a number of targets Alhambra will advance over
the next year."
DRILLING PROGRAM SUMMARY
The 2012 diamond drilling program consisted of 18 core holes
totaling 3,691 m. The average depth of the holes was 205 m. Of the
18 holes completed, assay results for eight holes totaling 1,408 m
have been received and are being reported (see Table 1 and Figures
2 and 3).
The assay results for the remaining 10 core holes will be
reported once the remaining assay results have been received and
are interpreted.
The objective of this core drilling program was to confirm and
extend the previously identified higher grade gold mineralization
zones along strike and to depth (see News Releases dated March 10,
2010 and April 28, 2011). This objective was achieved. The
geological model of the Shirotnaia gold mineralization includes an
interpreted higher grade (+1.0 g/t Au) zone that is about 1,200 m
long and ranges from 6.5 m to 25.0 m wide. Several parallel zones
of gold mineralization have been intersected next to the main zone
of higher-grade gold mineralization (see Figure 2). The
higher-grade core is interpreted to have more of an E-W strike than
the broader mineralized zone, which is orientated NE-SW. The higher
grades are probably controlled by shear zones and are generally
related to pervasively silicified rocks. The mineralized zone dips
generally to the NW at an angle of 60 degrees to 70 degrees,
steepening on the southwest limb. There are several NW trending
offsets in the lodes that exhibit much steeper plunges, which host
the richest and widest intervals of mineralization.
These significant new results reflect the benefits of the
structural geology and comprehensive geological modeling that have
been underway. This work continues in order to further improve
understanding of grade controls. It is expected that future drill
targeting will benefit from these results.
The fact that these intervals of +1.0 g/t Au mineralization
cluster into several parallel trends is a strong indicator of
mineralization continuity.
The most significant intervals that were received are summarized
in more detail below:
The best mineralized interval reported was in DDH 28-09 which
yielded 135.6 m @ 1.12 g/t Au from surface and 18.2 m @ 1.56 g/t Au
(including 11.2 m @ 2.26 g/t Au). This hole also bottomed in
mineralization at 210.0 m. The broad intersection at the top of
this hole identified a NW striking jog of the main higher-grade
zone, possibly drilling along the long axis of a newly discovered
lode. The second intercept extended the main zone itself by 50 m
down dip (see Figure 3).
DDH 32-03 targeted the southern parallel higher-grade zone and
successfully extended it with 40 m along strike to the NE. The best
mineralized interval from this hole returned 27.4 m @ 1.47 g/t
Au.
DDH 92-09 successfully extended the northern parallel
higher-grade zone by about 60 m in depth. The best mineralized
interval from DDH 92-09 returned 17.5 m @ 1.73 g/t Au (including
8.90 m @ 2.63 g/t Au).
DDH 24-04, situated 90 m south of the main zone, identified
another fragment of a higher grade zone parallel to the main zone
with an intercept of 6.4 m @ 1.26 g/t Au.
Table 1 - Summary Drilling Results
---------------------------------------------------------------------------
Inter- Grade Mineral-
Sec- Azi- From To val Au ization
tion DDH# Length muth Dip (m) (m) (m) (g/t) Type
---------------------------------------------------------------------------
92 DDH 92-09 260.2 145 -60 62.60 66.60 4.00 0.63 Sulphide
---------------------------------------------------------------------------
100.00 117.50 17.50 1.73 Sulphide
---------------------------------------------------------------------------
including 100.00 101.60 1.60 3.48 Sulphide
---------------------------------------------------------------------------
and including 108.60 117.50 8.90 2.63 Sulphide
---------------------------------------------------------------------------
including 109.60 112.60 3.00 6.69 Sulphide
---------------------------------------------------------------------------
175.50 181.50 6.00 0.20 Sulphide
---------------------------------------------------------------------------
208.70 211.70 3.00 1.01 Sulphide
---------------------------------------------------------------------------
221.80 226.80 5.00 0.25 Sulphide
---------------------------------------------------------------------------
100 DDH 100-04 150.0 145 -80 1.20 39.30 38.10 0.46Transition
---------------------------------------------------------------------------
including 10.20 12.70 2.50 1.19 Oxide
---------------------------------------------------------------------------
and including 14.70 17.70 3.00 1.12 Oxide
---------------------------------------------------------------------------
92.10 101.10 9.00 0.40 Sulphide
---------------------------------------------------------------------------
117.50 120.50 3.00 0.27 Sulphide
---------------------------------------------------------------------------
145.70 148.90 3.20 0.31 Sulphide
---------------------------------------------------------------------------
24 DDH 24-04 175.5 145 -60 1.20 6.00 4.80 0.23 Oxide
---------------------------------------------------------------------------
15.00 19.00 4.00 0.29 Sulphide
---------------------------------------------------------------------------
39.80 45.10 5.30 0.50 Sulphide
---------------------------------------------------------------------------
50.10 53.10 3.00 0.60 Sulphide
---------------------------------------------------------------------------
59.10 63.10 4.00 0.33 Sulphide
---------------------------------------------------------------------------
66.10 79.60 13.50 0.69 Sulphide
---------------------------------------------------------------------------
including 70.20 76.60 6.40 1.26 Sulphide
---------------------------------------------------------------------------
including 70.20 72.60 2.40 2.59 Sulphide
---------------------------------------------------------------------------
88.00 95.00 7.00 0.33 Sulphide
---------------------------------------------------------------------------
101.00 106.10 5.10 0.71 Sulphide
---------------------------------------------------------------------------
112.00 117.00 5.00 0.63 Sulphide
---------------------------------------------------------------------------
including 112.00 114.00 2.00 1.10 Sulphide
---------------------------------------------------------------------------
32 DDH 32-04 200.5 145 -60 102.30 106.50 4.20 0.34 Sulphide
---------------------------------------------------------------------------
DDH 32-03 132.0 145 -60 8.50 16.10 7.60 0.22 Oxide
---------------------------------------------------------------------------
25.10 54.10 29.00 0.18Transition
---------------------------------------------------------------------------
57.10 129.50 72.40 0.68 Sulphide
---------------------------------------------------------------------------
including 100.10 127.50 27.40 1.47 Sulphide
---------------------------------------------------------------------------
including 100.10 111.10 11.00 2.18 Sulphide
---------------------------------------------------------------------------
and including 116.10 127.50 11.40 1.30 Sulphide
---------------------------------------------------------------------------
28 DDH 28-09 210.0 145 -85 0.00 135.60 135.60 1.12 Sulphide
---------------------------------------------------------------------------
including 8.00 33.60 25.60 1.21Transition
---------------------------------------------------------------------------
and including 52.20 72.20 20.00 1.30 Sulphide
---------------------------------------------------------------------------
and including 81.20 84.20 3.00 2.46 Sulphide
---------------------------------------------------------------------------
and including 93.00 101.80 8.80 3.04 Sulphide
---------------------------------------------------------------------------
and including 107.80 132.60 24.80 1.57 Sulphide
---------------------------------------------------------------------------
141.60 159.80 18.20 1.56 Sulphide
---------------------------------------------------------------------------
including 145.60 156.80 11.20 2.26 Sulphide
---------------------------------------------------------------------------
164.80 168.60 3.80 1.03 Sulphide
---------------------------------------------------------------------------
180.40 210.00 29.60 0.42 Sulphide
---------------------------------------------------------------------------
24 DDH 24-21 149.6 145 -65 21.20 25.20 4.00 0.21Transition
---------------------------------------------------------------------------
28.20 33.20 5.00 0.19Transition
---------------------------------------------------------------------------
65.20 75.00 9.80 0.21 Sulphide
---------------------------------------------------------------------------
77.00 85.50 8.50 0.59 Sulphide
---------------------------------------------------------------------------
including 80.00 83.00 3.00 1.19 Sulphide
---------------------------------------------------------------------------
104.90 106.90 2.00 1.16 Sulphide
---------------------------------------------------------------------------
139.70 143.70 4.00 0.42 Sulphide
---------------------------------------------------------------------------
7 DDH 07-15 130.5 145 -65 22.40 29.00 6.60 0.35 Sulphide
---------------------------------------------------------------------------
32.00 37.40 5.40 0.28 Sulphide
---------------------------------------------------------------------------
41.40 58.40 17.00 0.33 Sulphide
---------------------------------------------------------------------------
including 51.40 55.40 4.00 0.81 Sulphide
---------------------------------------------------------------------------
63.10 81.10 18.00 0.21 Sulphide
---------------------------------------------------------------------------
91.10 104.10 13.00 0.32 Sulphide
---------------------------------------------------------------------------
including 95.10 96.10 1.00 1.79 Sulphide
---------------------------------------------------------------------------
116.10 128.10 12.00 0.23 Sulphide
---------------------------------------------------------------------------
The intervals set out in the above table are not true widths and
the assay results are uncut. Intercepts are calculated using a 0.15
g/t cut-off without upper cut, and with not more than 2 m of
internal waste.
SHIROTNAIA REGIONAL SETTING AND MINERALIZATION
Shirotnaia is just one target within Alhambra's 9,800 km2
mineral license which is located in the world-class Central
Asia-Chinese Altayshan Gold Belt that sweeps across northern
Kazakhstan. This mega-trend of important gold deposits hosts
orogenic type gold deposits, such as Vasilkovskoe, Aksu and
Quartzite Hills. On the eastern side of Alhambra's license, the
Corporation controls at least 50 kilometres ("kms") of an emerging
gold trend that extends from North Balusty south to Shirotnaia and
beyond; crossing the southern border of Alhambra's license. The
multi-million ounce Aksu and Quartzite Hills gold deposits, which
are currently being mined by KazakhGold Group Limited are located
approximately three kms southeast of Alhambra's Shirotnaia project
area. Along this trend, Alhambra controls the North Balusty,
Dombraly, Kerbay and Shirotnaia zones of gold mineralization.
Shirotnaia and Dombraly are the most advanced of these targets, but
much work remains to be done on this eastern trend.
At Shirotnaia, gold mineralization consists of several numerous
NE-SW to E-W orientated zones of intensive hydrothermal alterations
occurring within a structurally controlled low grade aureole which
is at least 1,800 m long, 750 m wide and remains open to the north,
northeast and southwest as well as at depth. Four zones of gold
mineralization are presently identified in the explored part of the
aureole.
The gold mineralization at Shirotnaia is hosted in a sequence of
mostly dacite-andesitic volcanic and volcaniclastic rocks with rare
sediment horizons. There is an oxidized zone to an average depth
from surface of about 20 m and a transition zone about 16 m thick
below that, underlain by primary gold mineralization.
DRILLING AND SAMPLING PROCEDURES
For the core drilling, an NQ diamond drilling core barrel was
utilized and average core recovery was 100%. The core was split by
the drilling contractor under the supervision of the Corporation's
geologists with one half sampled for assay 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 2.6
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 is
accredited to International Standard Organization ("ISO") 17025 for
certain relevant assay methodologies.
QUALITY ASSSURANCE QUALITY CONTROL
The Kyrgyzstan Stewart Assay and Environmental Laboratories, as
a part of the worldwide ALS 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. Mr. Stewart has reviewed
but not confirmed the technical information contained in this news
release.
ABOUT ALHAMBRA
Alhambra is a Canadian based international exploration and gold
production corporation with NI 43-101 gold resources as per ACA
Howe International UK and Micromine Consulting Services UK as noted
below:
----------------------------------------------------------------------------
Measured (M) Indicated (I)
----------------------------------------------------------------------------
Project Grade Grade
----------------------------------------------------------------------------
Tonnes (g/t) Ounces Tonnes (g/t) Ounces
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Uzboy (1) 14,317,200 1.52 700,000 7,009,500 1.22 275,500
----------------------------------------------------------------------------
Dombraly (2) - - 559,000 1.22 22,000
----------------------------------------------------------------------------
Shirotnaia (3) - - 2,900,000 0.76 71,000
----------------------------------------------------------------------------
TOTAL 14,317,200 1.52 700,000 10,468,500 1.09 368,500
----------------------------------------------------------------------------
----------------------------------------------------------------------------
M + I Inferred
----------------------------------------------------------------------------
Project Grade Grade
----------------------------------------------------------------------------
Tonnes (g/t) Ounces Tonnes (g/t) Ounces
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Uzboy (1) 21,326,700 1.42 975,500 11,258,200 1.17 421,700
----------------------------------------------------------------------------
Dombraly (2) 559,000 1.22 22,000 9,317,000 1.01 301,000
----------------------------------------------------------------------------
Shirotnaia (3) 2,900,000 0.76 71,000 34,577,000 0.58 645,000
----------------------------------------------------------------------------
TOTAL 24,785,700 1.34 1,068,500 55,152,200 0.77 1,367,700
----------------------------------------------------------------------------
(1) Effective as of Dec 31/07 as per ACA Howe per news release
dated Apr 8/08 at a 0.40 g/t cut-off.
(2) Effective as of Nov 27/11 as per ACA Howe per news release
dated Feb 7/12 using natural cut-off grades of 0.13 g/t, 0.1 g/t
and 0.2 g/t for the low grade stockpile, pit infill and in-situ
mineralized zones respectively.
(3) Effective as of Jan 9/12 as per ACA Howe per news release
dated Feb 28/12 using cut-off grades of 0.1 g/t for oxide gold
mineralization and 0.2 g/t for transitional and primary gold
mineralization respectively.
Alhambra holds exploration and exploitation rights to a 2.4
million acre (9,800 km2), 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 three advanced exploration areas, 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, there is no certainty
that additional drilling will be conducted nor that additional
resources or increased gold grade will be realized 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, conducting additional drill programs, identifying
additional resources or increasing gold grade, availability of
capital to fund exploration projects; political, social and other
risks inherent in carrying on business in a foreign jurisdiction
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.
Note: To view Figures 1, 2 and 3 associated with this release,
please click the following link:
http://media3.marketwire.com/docs/alh1114.pdf.
Neither the TSX Venture Exchange Inc. nor its Regulation
Services Provider (as that term is defined in the Policies of the
TSX Venture Exchange Inc.) accepts responsibility for the adequacy
or accuracy of this release.
Contacts: Alhambra Resources Ltd. Ihor P. Wasylkiw VP &
Chief Information Officer +1 (403) 508-4953 Alhambra Resources Ltd.
John J. Komarnicki Chairman & CEO +1 (403) 228-2855
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