ALX Uranium Corp.
ALX Uranium Corp. Uranium Exploration Update, Athabasca Basin, Saskatchewan
DGAP-News: ALX Uranium Corp. / Key word(s): Miscellaneous Vancouver, British Columbia–(Newsfile Corp. – September 6, 2018) – ALX Uranium Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) (‘ALX’ or the ‘Company’) is pleased to report geochemical results from its inaugural diamond drilling program at the Newnham Lake Uranium Project (‘Newnham Lake’) and ground geophysical results from the Perch Project (‘Perch’), each located in the northeastern Athabasca Basin of northern Saskatchewan, east of Stony Rapids. Newnham Lake 2018 Drilling Program The 2018 drilling program at Newnham Lake consisted of three drill holes totaling approximately 1,164 metres. The three drill holes were designed to test high-priority drill targets interpreted from integrating the results of a historical airborne ZTEM™ survey with a 3D induced polarization/resistivity (‘IP/resistivity’) ground geophysical survey carried out by ALX in 2017, along with other historical data. Highlights of the 2018 Drilling Program
‘The presence of uranium mineralization over significant widths as well as intense faulting and strong hydrothermal alteration deep in the basement represent key elements of the basement-hosted uranium model,’ said Sierd Eriks, President and Chief Geologist of ALX. ‘Our initial drilling results demonstrate that Newnham Lake shows the hallmarks of a fertile mineralizing environment for uranium.’ To view photographs of Newnham Lake drill core and a map of the 2018 drill targets, click here or visit the ALX website at www.alxuranium.com/projects/newnham-lake Perch 2018 Geophysical Program A ground electromagnetic geophysical survey was carried out by ALX during the winter of 2018 to further explore anomalies identified during a 2016 gravity survey with the goal of defining drill targets. A total of 22.7 line-km were surveyed using a PROMIS Horizontal Loop Electromagnetic (HLEM) system. The interpreted HLEM conductors compare reasonably to the results of an airborne VTEM survey carried out in 2007. An interpreted cross structure from inversions of the HLEM data confirmed previously-identified structural magnetic features. In addition, a conductive bright spot and other interpreted cross structures occur over a gravity high anomaly seen in the 2016 gravity survey, indicating that the anomaly may be due to possible silicification, an important form of sandstone alteration related to hydrothermal processes. NI 43-101 Disclosure The technical information in this news release has been reviewed and approved by Sierd Eriks, P.Geo., President and Chief Geologist, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. About ALX ALX’s mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in northern Saskatchewan, Canada. The Company executes well-designed exploration programs using the latest technologies and has interests in over 200,000 hectares in Saskatchewan, a Province which hosts the richest uranium deposits in the world, a producing gold mine, and demonstrates potential for base metals deposits. ALX is based in Vancouver, BC, Canada 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 in the United States OTC market under the symbol ‘ALXEF’. Technical reports are available on SEDAR at www.sedar.com for several of the Company’s active properties. For more information about the Company, please visit the ALX corporate website at www.alxuranium.com or contact Roger Leschuk, Manager, Corporate Communications at Ph: 604.629.0293 or Toll-Free: 1.866.629.8368, or by email: rleschuk@alxuranium.com On Behalf of the Board of Directors of ALX Uranium Corp. ‘Warren Stanyer’ Warren Stanyer, CEO and Chairman FORWARD LOOKING STATEMENTS 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. Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/38501
06.09.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | ALX Uranium Corp. |
Canada | |
ISIN: | CA00165J1093 |
End of News | DGAP News Service |