Alpha Exploration
Primary ticker: TSXV:ALEX
Stage of development: Exploration
Primary minerals: Gold, Copper, Zinc
Project to promote: Kerkasha
Project location: Eritrea
Website: alpha-exploration.com
Alpha (TSX-V:ALEX) is an exploration company that is rapidly advancing a number of important gold and base metal discoveries across its 100% owned, large (771 km2) Kerkasha Project in Eritrea. The Company has made three new, exciting discoveries in the last three years and is managed by a group of highly experienced and successful professionals, with long track records of establishing, building and successfully exiting a number of world class gold and base metals discoveries in Eritrea, and across the wider Arabian Nubian Shield.
The Aburna Gold Prospect is an exciting new gold discovery where recent drilling has established a high-grade discovery with grades including 18m @ 15.33 g/t Au, 16 m @ 14.07 g/t Au, 9 m @ 10 g/t Au and 23 m @ 6.74 g/t Au. The Anagulu Gold-Copper Prospect includes recent drilling intersections of 108 m @ 1.24 g/t Au and 0.60% Cu and 49 m @ 2.42 g/t Au and 1.10% Cu within a porphyry unit mapped over at a >2 km strike length. The Company is also advancing exploration of the Tolegimja volcanogenic massive sulphide copper-zinc-gold prospect and over 17 other gold and base metal prospects since listing in 2021.
Cash: CASD 4.5M
Debt: NIL
Major shareholders:
Management Ownership – 13.8%
Financials
Management Profile
Berhane Soquar – Significant Investor, co founder
What is your rationale for taking part in 121 Mining Investment?
What recent news would you like to highlight to investors attending?
At the start of PDAC this year we announced some spectacular shallow, high grade drill results from our flagship Aburna Gold Prospect including 18m @ 15.33 g/t Au and 49m @ 2.75 g/t Au. Please see the full news release here: https://alpha-exploration.com/wp-content/uploads/2024/03/News-Release-Alpha_Drilling-Results-01-March-2024.pdf
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
– Ongoing drilling at the Aburna Gold Prospect to fully define the high grade mineralisation recently drilled at Hill 52 including 18m @ 15.33 g/t Au and 49m @ 2.75 g/t Au.
– Drilling within the “Gap Zone” that links Hill 52 and mineralisation at Central to form a >1km drilled mineralised lens
6 Months:
– Drilling up to 20,000m to fully define 2km of mineralisation at Aburna
– A RAB (rotary air blast) drill rig is expected to be on site in Q3, 2024 and will be our third available drill rig on the project. The RAB rig will be used to rapidly define additional high grade shoots as Aburna as well as better defining new drill targets at the Anagulu Au-Cu Porphyry Prospect and the Tolegimja VMS discovery. RAB drilling is a low cost and very rapid drilling technique widely used across Africa and Australia on similar projects.
12 Months:
Definition of the key mineralised lenses at Aburna that we believe will form the basis for resource drilling. Alpha is targeting a major, multi million ounce discovery at Aburna
Further defining high grade Cu-Au mineralisation at Anagulu including a number of priority drill targets recommended by a world renowned porphyry expert who has recently visited the project.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
What do you think makes your company such a compelling investment?
2. A highly experienced and successful management team
3. Exposure to copper, gold, zinc
4. Prospective license in the Arabian Nubian Shield with 17 prospects and 3 discoveries
What are the top 3 key investor takeaways?
1. Major new gold discovery at Aburna with the potential to be a multi million ounce gold project.
2. Significant copper-gold porphyry discovery & VMS discoveries with 17 other projects on the licence.
3. Exposure to next exploration frontier, the Arabian Nubian Shield, with first class management