Alpha Announces Second Batch of 2025 Drill Results, Including 10 Metres Grading 3.12 g/t Gold, from the Aburna Gold Project
Alpha extends gold mineralization at depth while investors remain underwater following a half-filled 2025 private placement.
The news release dated February 4, 2026, details the second batch of 2025 drill results from the Aburna Gold Project in Eritrea. Key highlights include hole ABRD189, which returned 10 metres grading 3.12 g/t gold, and hole ABD026, which yielded multiple mineralized intervals including 5 metres at 3.6 g/t gold. Management notes that these results extend the vertical depth of known mineralization to 150 metres, whereas 90% of previous drilling was limited to depths shallower than 120 metres. Furthermore, the company emphasizes that only 20% of the 7km gold trend has been drill-tested to date.
This news is materially positive from a geological perspective but must be tempered by the company's financial context. - Expansion of Mineralization: Proving that the system continues and maintains grade at depth (150m) increases the potential size of the eventual resource. - Verification of Scale: The 7km trend remains largely untested, providing significant blue-sky potential if the company can secure funding to continue exploration. - CEO Integration: This is the first major set of results released since John Wilton transitioned from Interim CEO to a permanent Board and CEO role (announced Oct/Dec 2025), signaling continuity in technical execution. - Market Disconnect: Despite the positive results, the stock is trading at C$0.50, significantly below the C$0.70 price of the July 2025 private placement. This indicates a "broken" financing where current shareholders are sitting on a 28% loss, likely creating a ceiling of resistance as they look to exit at breakeven.
Alpha Exploration is focused on the Kerkasha Project in Eritrea, a 514-square-kilometre land package. - Flagship Project: Aburna Gold Prospect, an orogenic gold system with a 7.2km x 2km footprint. - Secondary Project: Anagulu, a copper-gold porphyry discovery. - Jurisdiction: Eritrea is located in the highly prospective Arabian Nubian Shield but carries significant geopolitical risk.