ALX Uranium Corp.
ALX Uranium Corp. Announces Results from the Summer 2018 Drilling Program at the Hook-Carter Project, Athabasca Basin, Saskatchewan
DGAP-News: ALX Uranium Corp. / Key word(s): Miscellaneous Vancouver, British Columbia–(Newsfile Corp. – August 9, 2018) – ALX Uranium Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) (‘ALX’ or the ‘Company’) is pleased to announce results from the Hook-Carter Uranium Project (‘Hook-Carter’, or the ‘Project’) summer 2018 drilling program which began in late May 2018 (see ALX news release dated May 24, 2018). Exploration at Hook-Carter is operated by Denison Mines Corp. (‘Denison’) (TSX: DML) (NYSE MKT: DNN). The Project is owned 80% by Denison and 20% by ALX. Summer 2018 Drilling Program The summer 2018 program consisted of 3,898 metres of diamond drilling in five completed holes to test high-priority geophysical targets developed by Denison which were identified from the resistivity and moving loop time-domain electromagnetic (MLTEM) surveys carried out in 2017. The summer 2018 drilling program was designed as a continuation of the maiden winter 2018 drilling program which included 3,062 metres in four holes. The 2018 inaugural drilling programs at Hook-Carter tested an initial set of regional scale geophysical targets along 7.5 of the 15 kilometres of interpreted strike length of the Patterson Lake Corridor on the Hook-Carter property. The nine reconnaissance holes completed to date, totaling 6,960 metres, successfully identified multiple prospective trends of strong hydrothermal alteration in both the sandstone and basement lithologies associated with graphitic basement structures. These features are consistent with unconformity-related mineralizing systems in Athabasca Basin uranium deposits and provide a strong indication of the continuation of the mineralizing system within the Patterson Lake Corridor onto the Hook-Carter property. Drill data collected from the 2018 drilling programs will be utilized to establish any geochemical and hydrothermal alteration vectors toward mineralization and interpret favorable geological settings for mineralization. The 2018 drill holes are widely-spaced and future drilling will likely include follow up in areas of strong hydrothermal alteration and/or geochemical anomalism, as well as the testing of additional high-priority geophysical targets. Highlights of the summer 2018 drill holes are as follows:
About Hook-Carter Hook-Carter consists of 80 claims covering 24,228 hectares and is located approximately 575 kilometres (357 miles) north of La Ronge, SK. The Project is located along the prolific Patterson Lake Corridor — host to the Triple R uranium deposit (Fission Uranium Corp.), the Arrow uranium deposit, Harpoon, Bow and South Arrow uranium discoveries (NexGen Energy Ltd.), and the Spitfire, Hornet and Dragon uranium discoveries (a joint venture of Purepoint Uranium Group Inc., Cameco Corp., and Orano Canada Inc.). Denison has agreed to fund the first $12.0 million of expenditures at Hook-Carter (see ALX news releases dated October 13, 2016, and November 7, 2016). ALX believes Hook-Carter is significantly underexplored, with only five historical drill holes located along the 15 kilometres of interpreted strike length of the Patterson Lake Corridor that lies within the Project. To view maps of Hook-Carter’s location along the Patterson Lake Corridor and the 2018 drilling plan, please click here. Technical information in this news release has been reviewed and approved by Sierd Eriks, P.Geo., President and Chief Geologist of the Company, who is a Qualified Person, in accordance with the Canadian regulatory requirements as 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/38007
09.08.2018 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 |