Alpha Exploration (ALEX.V) a recently listed company with a specific focus on Eritrea, has released an exploration update as the company has received the results of a structural mapping program and IP Geophysical study on the Tolegimja zone, an area on the larger Kerkasha project in Eritrea. As you can see on the image above, Tolegimja is located in the northeastern section of the Kerkasha project.
The IP survey defined three high priority drill targets (conveniently called TOL 1, TOL 2 and TOL 3) with the first two targets being highly chargeable and conductive bodies extending to depth. An additional bonus is that TOL-1 and TOL-2 appear to correlate with the surface sampling program which had already discovered anomalous copper values. According to the consultants who interpreted the data, TOL-3 is also a high priority drill target but is smaller in size. Interestingly, this conductive zone could actually be an extension of the TOL-1 drill target.
The results of the IP Survey in combination with a more detailed mapping program completed in November and December have reconfirmed Tolegimja as a valid VMS target and Alpha Exploration plans to start drilling the prospect within the next few weeks. Investors are cautioned to remember Tolegimja is just one of the prospects on the 771 square kilometer Kerkasha project and Alpha has plenty of other prospects and targets on that land package.
Disclosure: The author has a small long position in Alpha Exploration. Alpha is not a sponsor of the website but could become one. Please read our disclaimer.
