posted in:

Alhambra expands Shirotnaia discovery and drills 135.6 metres at 1.12 g/t gold

Thursday, Nov 15, 2012

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").

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."

Source: Marketwire

posted in:

Other Mining News

Ore grades spike in North Raise area of LKA's Golden wonder mine 21-04-2014
Marathon completes successful sprite zone winter drilling program, Valentine Lake property 18-04-2014
Aureus Mining Inc. - appointment of MonuRent to provide and maintain fleet for owner mining operation at the New Liberty Gold Project in Liberia 18-04-2014
Vista Gold Corp. announces option agreement on the Guadalupe de los Reyes project 16-04-2014
Ivanhoe Mines' drilling program extends depths of rich zinc and copper zones at the Kipushi Mine in D.R. Congo 16-04-2014
Vorkutaugol to commission 11 new coal faces across its mines in 2014 16-04-2014
Vanstar updates on Liam drilling 15-04-2014
Lakeland Resources Inc. acquires 5 new uranium properties in the Athabasca Basin 14-04-2014
Comstock Mining provides update 11-04-2014
Sierra Mining Limited announces registration of scheme booklet 11-04-2014