07:55:07 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



ALX Uranium Corp
Symbol AL
Shares Issued 41,659,518
Close 2015-12-01 C$ 0.06
Market Cap C$ 2,499,571
Recent Sedar Documents

ALX begins drilling at Gibbons Creek

2015-12-01 18:23 ET - News Release

Mr. Jonathan Armes reports

DRILLING UNDERWAY AT GIBBONS CREEK PROPERTY, ATHABASCA BASIN, SASKATCHEWAN

Drilling is under way at ALX Uranium Corp.'s Gibbons Creek property, located along the northern margin of the Athabasca basin in Northern Saskatchewan.

Planned are approximately 1,200 to 1,500 metres of drilling in six to eight drill holes. Previously intersected uranium mineralization by ALX is near surface at Gibbons Creek (see Lakeland news release dated May 1, 2015). Drill holes will be fewer than 200 metres long. Overburden is generally 15 metres, and depth to the unconformity is generally fewer than 70 metres. The target area is approximately three kilometres from Highway 905. The program has excellent road access and is expected to take three weeks to complete.

Summary figures are compiled into a single PDF file on the company's website.

The drill program at Gibbons Creek is a continuation of extensive exploration during the past three years, advancing an integrated target, including data from: ground gravity surveys completed in February and October, 2015. A high-contrast gravity-low feature overlaps the northern part of a large radon anomaly. Radon surveys were completed in 2013 and 2015. A large anomaly comprising 77 samples covers approximately 1,200 metres by 500 metres. Peak radon values ranging between four and 10.77 picocuries per square metre per second at 10 locations, which are amongst the highest recorded values in the Athabasca basin. A DC resistivity survey was completed in 2013 (see Lakeland news release dated Oct. 2, 2013). A resistivity low is coincident with the large radon anomaly. A historical airborne electromagnetic survey was completed in 1979, augmenting ground-based EM surveys from the late 1970s. A central conductor is a specific target within the gravity low and resistivity low.

This drill program follows up on encouraging results from the winter program completed in March, 2015. Drill hole GC15-03 intersected 0.13 per cent triuranium octoxide over 0.23 metre in a gravity low located approximately 500 metres to the south of the current target (see Lakeland news release dated May 1, 2015). Diamond drill hole GC15-06 was located at the edge of the large radon anomaly and gravity low targeted for this program and encountered strongly anomalous geochemical pathfinders (boron, lead, nickel, cobalt and copper) within both the sandstone and alteration within the basement lithologies.

About the Gibbons Creek property

The Gibbons Creek property consists of seven mineral claims encompassing 13,864 hectares (34,259 acres), located along the northern margin of the Athabasca basin, immediately west of the community of Stony Rapids.

The predecessor of ALX Uranium, Lakeland Resources, has been exploring the property since 2013 and has conducted surface prospecting, radon and soil geochemical surveys, ground gravity surveys, ground DC resistivity surveys, and drilling.

NI 43-101 disclosure

The technical information above has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Neil McCallum, PGeo, of Dahrouge Geological Consulting Ltd., a qualified person.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.