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Alhambra Resources Ltd. announces Zhanatobe diamond drilling discovers additional gold mineralization at depth

Wednesday, Dec 05, 2012

Alhambra Resources Ltd. (TSX VENTURE:ALH)(PINKSHEETS:AHBRF)(FRANKFURT:A4Y) ("Alhambra" or the "Corporation"), an international gold producer and explorer, announces that the first diamond drilling program completed in 2012 at its 100% owned Zhanatobe project area ("Zhanatobe") has intersected significant gold mineralization at depth in both the Northern and Central areas. Zhanatobe is one of Alhambra's 2012 early stage exploration targets within the Corporation's 100% owned, 2.4 million acre, Uzboy Project located in north central Kazakhstan (see Figure 1). Zhanatobe is located approximately 90 kilometres ("kms") southeast of Alhambra's Uzboy gold deposit and 40 kms northwest of the City of Stepnogorsk, Alhambra's Kazakhstan operating base.

John J. Komarnicki, Alhambra's Chairman and Chief Executive Officer stated, "We are excited with the fact that the gold mineralization discovered earlier by Alhambra at our early stage exploration target at Zhanatobe continues at depth. Now we can concentrate our Zhanatobe exploration efforts on outlining the mineralization zones and searching for higher-grade areas of gold mineralization."

DRILLING SUMMARY

The objective of the 2012 exploration program at Zhanatobe was to check for the presence of gold at depth and to determine the geometry and style of the gold mineralization located in both the Central and Northern areas as a result of the shallow RAB drilling conducted in 2010 and 2011.

Nine diamond drill holes totaling 1,449 m were completed in both the Northern and Central areas of Zhanatobe (see Figures 2 and 3). Assay results for the mineralized intervals in both the Central and Northern areas are shown in Table 1.

Central Area:

In the Central area, RAB drilling up to and including 2011 resulted in the discovery of a new zone of gold mineralization. This new zone, oriented in an ENE direction, was estimated to be about 850 m along strike and up to 100 m in width with gold grades ranging from 0.10 g/t Au to 1.72 g/t Au.

The 2012 drilling program consisted of six diamond drill holes ("DDH") drilled along three lines totaling 905 m (see Figure 2). Of these new DDH tested, the most encouraging intercepts yielded 1.98 g/t Au over 3.0 m in DDH ZTD 06-01 and 2.11 g/t Au over 5.0 m in DDH ZTD 04-01, including an individual sample that assayed 5.76 g/t Au in a 1.0 m long core interval (see Table 1 and Figure 4). The mineralized zone in the Central area has been tested by core holes for about 600 m along strike. The mineralized zone is open to depth and in both directions (NE and SW) along strike. When compared to the shallow RAB drilling results, grades appear to increase at depth. The gold mineralization is located close to the contact between mainly to sporadically silicified sandstone and andesite as well as to their contacts with siliclastic rocks. The geological setting of the mineralization is similar to that of the Uzboy gold deposit and it is possible that orogenic volcanosediment hosted gold mineralization is developed at Zhanatobe.

Northern Area:

In the Northern area, RAB drilling up to and including 2011 led to the discovery of a second zone of gold mineralization, oriented in a NE direction, with a strike length of 400 m and a width of 150 m with gold grades ranging from 0.19 g/t Au to 0.51 g/t Au.

The 2012 diamond drilling program in the Northern area consisted of three holes totaling 544 m. Of these drill holes, the most interesting mineralized intercept was 0.86 g/t Au over 11.0 m (including 1.37 g/t Au over 5.30 m) in DDH ZTD 15-02 (see Table 1).

Figure 4 shows the position of the gold mineralization in section 15 of the Northern area. This section is orientated E-W and is oblique to the mineralized zone. DDH ZTD 15-02 was unfortunately stopped in the mineralized zone and the scissor hole ZTD 15-03 collapsed at the depth of 138.4 m and did not reach the mineralized zone. DDH ZTD-15-02 intersected significant gold mineralization over a core interval of 11.0 m and the mineralized zone remains open to depth. The maximum individual gold assay in this drill hole was 3.45 g/t Au in a 1.0 m long core interval. The gold mineralization is related to the contact between silicified sandstone and andesite located below a horizon of silicified andesite.

Alhambra believes that the gold mineralization at Zhanatobe is controlled by lithology. The gold grades appear to be increasing at depth. The gold mineralization is related to a series of silicified sandstone horizons and andesite flows. The surface and near surface gold concentrations and alteration is interpreted to represent a more extensive mineralized body at depth. To validate this concept, Alhambra plans on re-logging all core and reviewing all sections more precisely. Anticipated follow-up drill programs include a reverse circulation ("RC") and follow-up core drilling program for a better understanding of the geological model.

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 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 2.2 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 is accredited to International Standard Organization ("ISO") 17025 for certain relevant assay methodologies.

Source: Marketwire

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