VANCOUVER, Oct. 27, 2015 /CNW/ - ALX Uranium Corp.
("ALX" or the "Company") (TSX-V: AL; FSE: 6LLN; OTCQX: ALXEF) is
pleased to provide an update on summer exploration programs
completed at its Gibbons Creek Uranium Property, located along the
northern margin of the Athabasca
Basin, Saskatchewan.
ALX completed an initial 2,550 metre drill program at Gibbons
Creek last winter (March-April, 2015), focused on two targets:
South Trend and Center Zone. Anomalous radioactivity and/or
path finder geochemistry was intersected at both targets.
Follow-up surface work in the summer of 2015 included a land-based
radon flux survey to refine the existing radon anomaly at the
Center Zone. Highlights of that work include:
- Surface radon anomaly is expanded from a few readings in 2013
to an area of approximately 1,200 metres by 500 metres;
- Peak values within the radon anomaly range between 4 and 10.77
pCi/m2/sec at 10 locations, and are amongst the highest recorded
values in the Athabasca Basin;
and
- The radon anomaly is coincident with a DC-resistivity low
anomaly.
Exploration Plans:
The company plans to mobilize a ground-gravity crew next week to
complete a survey covering the coincident radon – DC resistivity
anomaly. Results will be utilized to refine/prioritize hole
locations for a targeted diamond drill program anticipated for
later this fall, prior to deep freeze conditions in northern
Saskatchewan.
Summary figures are compiled into a single pdf file on the
Company's website at www.alxuranium.com
Summary of Recent Work at Gibbons Creek
Drilling in March, 2015, by ALX was designed to test the
geological setting of the southern part of the radon anomaly as
outlined in 2013. Drill hole GC15-06 encountered strongly
altered basement lithologies including strongly
hematized-quartz-carbonate-chlorite alteration and brecciation.
Anomalous geochemical pathfinders were noted in the 40 vertical
metres of Athabasca sandstone
including twice the average cobalt, copper, nickel, lead and
uranium. Elevated Boron was noted approximately 6
metres below the unconformity; between 52.8 and 56.7 metres (3.9 m
interval) of 1,213 ppm B within a strongly altered basement. Highly
anomalous Ni (up to 0.19%) and Co associated with a sulphide
accumulation between about 95 and 115 metres were also noted within
this hole.
ALX followed up the encouraging drill results with a land-based
radon flux survey completed in June, 2015, by RadonEx Ltd. The
survey covered the area north of the anomaly established in
2013. A total of 394 radon stations were measured. The survey
confirmed the 2013 anomaly.
A high of 10.77 pCi/m2/sec was recorded at the
western end of the anomaly. The anomaly consists of values
greater than 2.8 pCi/m2/sec, covering an area
approximately 1,200 metres by 500 metres. The Radon anomaly
is coincident with DC-resistivity anomaly identified during the
4th quarter of 2013. The unconformity varies from
about 40 to 70 m below surface. As previously reported
(Jan 8th, 2014):
"Another distinct resistivity anomaly is roughly coincident with
the strong radon anomalies located at the northern end of the
survey. Both resistive trends represent high-priority targets for
follow-up drill testing."
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, P.Geo., of Dahrouge
Geological Consulting Ltd, a qualified person.
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", on the Frankfurt
Stock Exchange under the symbol "6LLN" and the United States OTCQX
under the symbol "ALXEF. 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
TollFree: 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.
