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Alix Resources Corp (3)
Symbol AIX
Shares Issued 45,309,081
Close 2016-06-17 C$ 0.12
Market Cap C$ 5,437,090
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Alix Resources samples up to 2.82% Li2O at Jackpot

2016-06-20 09:24 ET - News Release

Mr. Michael England reports

ALIX SAMPLES UP TO 2.82% LITHIUM OXIDE AT JACKPOT

Alix Resources Corp. has released the initial results from its sampling program at the Jackpot lithium property located in the Georgia Lake area within the Thunder Bay mining division, Ontario. Multiple samples ran greater than 2 weight per cent lithium oxide.

Approximately 90 kilograms of spodumene-bearing granitic pegmatite rocks were collected from the surface and sent to Actlabs laboratory facilities of Vancouver, B.C., for assaying. Five of seven samples returned significant lithium values with samples returning in excess of 2 per cent Li2O. Significant results include the following: 0.85 per cent Li2O, 2.08 per cent Li2O, 1.02 per cent Li2O, 2.01 per cent Li2O and 2.82 per cent Li2O.

"Given these samples were taken during the winter and visual observation were hampered by snow cover, we are very encouraged with these initial high-grade results, and we are looking forward to exploring the potential of the property as we enter the summer exploration season," stated president and chief executive officer of Alix, Mike England. "Finding high-grade spodumene-bearing rocks, in conjunction with the encouraging historical diamond drilling results, will help Alix work towards confirming the historical lithium resource on the Jackpot property."

Lithium was first discovered in 1955 at the Jackpot property in granitic pegmatites. The property covers the Jackpot lithium deposits, described by E.G. Pye in a 1965 report published by the Ontario Department of Mines on the Georgia Lake area. The deposits were tested by a total of 32 holes drilled in 1955 by Ontario Lithium Company Ltd. and its associated company, Conwest Exploration Co. Ltd. The drilling confirmed the presence of at least two spodumene-bearing pegmatite bodies, one at the surface (No. 1) and the other (No. 2) lying directly beneath the No. 1 deposit. Historical resources at Jackpot, comprising only the No. 2 dike pegmatite zone, were reported as two million tonnes of 1.09 Li2O estimated in 1956 by Ontario Lithium. The No. 2 pegmatite dike, which was discovered by diamond drilling, was intersected at 30-metre to 100-metre intervals over a strike length of 215 metres and at 30-metre to 60-metre intervals over a distance of 365 metres across strike. Dike No. 2 is four metres to 20 metres thick, averaging 11 metres.

The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of National Instrument 43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM (Canadian Institute of Mining, Metallurgy and Petroleum) definition standards on mineral resources and mineral reserves. The explanation lies in the inability by the company to verify the data acquired by the various historical drilling campaigns. The company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

The company is currently compiling the public assessment data on the Jackpot and is also sourcing information held privately by companies that acquired the Conwest libraries. A work program is being planned for later in the summer to confirm and expand the lithium resources and showings.

The technical contents of this release were approved by Dr. Michel Boily, PhD, PGeo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.

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