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.
President, CEO and Director
Email: [email protected]
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.
For further information: please visit the corporate website at www.alxuranium.com or contact Roger Leschuk, Corporate Communications at Ph: 604.681.1568 or TF: 1.877.377.6222 or email: [email protected]