VANCOUVER, Sept. 29, 2015 /CNW/ - ALX Uranium Corp.
("ALX" or the "Company") (TSX-V: AL) is pleased to announce that
drilling has commenced at its Kelic Lake Property ("Kelic Lake" or
the "Property") located along the southwestern margin of the
Athabasca Basin in northern
Saskatchewan.
Approximately 1,800 metres of diamond drilling is planned in up
to six holes located on a single drill fence. The
drill target is multi-faceted, including:
- Airborne V-TEM conductor, with coincident ground-based fixed
loop and TEM conductors
- Airborne gravity low
- Airborne radiometric low
- North trending magnetic gradient (contact) of regional
extent.
- Elevated radon in soil gas, and uranium in Ae horizon soil
samples
- One kilometer east of radioactive spring
Summary figures are compiled into a single pdf file on the
Company's website at www.alxuranium.com
Overall, the exploration target is shallow. Thickness of
Athabasca sandstone cover in the
area is approximately 100m based on historic drill holes.
Recent exploration on the property by ALX includes:
- September, 2015: surface geochemical program, including:
92 Ae horizon soil samples; 52 radon flux measurements at amenable
soil sample sites; 13 stream silt samples along Mirror River.
- Airborne radiometric survey, and magnetic and FALCON® airborne
gravity gradiometer surveys, completed in March, 2015:
1,210 line-km's at 200 m line spacing covering a grid area of 10 x
11.5 km's
The current drill program is helicopter-supported. A
near-by full-service lodge provides cost-effective logistics.
Drilling is underway and is expected to take some three weeks to
complete. The Company will evaluate extending the program
pending results.
About Kelic Lake Property
The Kelic Lake Property is a contiguous block of 6 mineral
claims covering 10,056 hectares (24,849 acres). It is
approximately 50 km east of Highway 955. ALX has an
Option Agreement dated August 29,
2014 to acquire 100% of the Property from the vendor.
The Kelic Lake property straddles the southern margin of the
Athabasca Basin, approximately 65
km east of the recent discoveries along the southern margin of the
Basin at Patterson Lake. Major regional structures are a
critical element to the formation of unconformity-type uranium
deposits in the Athabasca Basin;
the Kelic Lake property is in between the eastern boundary of the
Clearwater Domain and the crustal-scale Virgin River shear zone
which is regional host to the Centennial uranium deposit
located approximately 70 km to the east of the Property.
About ALX Uranium Corp.
ALX Uranium Corp. was formed as the result of a business
combination between Lakeland Resources Inc. and Alpha Exploration
Inc. ALX is based in Vancouver and its common shares are listed on
the TSX Venture Exchange under the symbol "AL". ALX is
well-financed to actively explore a portfolio of early-stage
properties. Technical reports are available on SEDAR
(www.sedar.com) for several of the Company's active properties. ALX
continually and proactively reviews opportunities for new
properties, whether by staking, joint venture or acquisition.
On Behalf of the Board of Directors
ALX Uranium Corp.
"Jonathan Armes"
Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222
Email: jarmes@alxuranium.com
Forward Looking Statements: This news release contains
forward looking statements that are subject to a number of known
and unknown risks, uncertainties and other factors that may cause
actual results to differ materially from those anticipated in our
forward looking statements. Forward-looking statements in this
release include statements regarding the proposed diamond drill
program. In addition to other factors and assumptions which
may be identified in this press release, assumptions have been made
regarding and are implicit in, among other things, the timely
receipt of any required regulatory approvals (including court
approvals). Although we believe the expectations reflected in our
forward looking statements are reasonable, results may vary, and we
cannot guarantee future results, levels of activity, performance or
achievements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE ALX Uranium Corp.
