ALX Uranium (A1402P) - Vormals Lakeland Ressources (Seite 52)
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ISIN: CA00165X1087 · WKN: A2PX5L
0,0170
EUR
0,00 %
0,0000 EUR
Letzter Kurs 19:00:58 Lang & Schwarz
Neuigkeiten
Werte aus der Branche Rohstoffe
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 1,0000 | +809,09 | |
| 8,0000 | +45,45 | |
| 11,000 | +19,57 | |
| 1,6640 | +16,04 | |
| 527,60 | +15,68 |
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 6,6800 | -8,94 | |
| 0,7000 | -10,26 | |
| 324,70 | -10,30 | |
| 8,1000 | -20,59 | |
| 0,6601 | -26,22 |
Beitrag zu dieser Diskussion schreiben
Feedback
Dann brauchen wir eben noch ein wenig Geduld
Ein interessanter Artikel aus dem "Forsys Metals Thread" zum Thema Uran:
Uranpreis auf Talfahrt – gibt es Hoffnung?
http://www.miningscout.de/blog/2016/09/20/uranpreis-auf-talf…
LG & ein schönes WE
L234
Uranpreis auf Talfahrt – gibt es Hoffnung?
http://www.miningscout.de/blog/2016/09/20/uranpreis-auf-talf…
LG & ein schönes WE
L234
wollen wir mal hoffen das endlich mal das Tal erreicht ist
Die Entwicklung des Uranpreises ist ein Jammer!
Quelle: http://www.finanzen.net/rohstoffe/uranpreis
L234
Quelle: http://www.finanzen.net/rohstoffe/uranpreis
L234
Antwort auf Beitrag Nr.: 53.563.404 von links-zwo-drei-vier am 27.10.16 10:19:19An expert view: ALX Uranium’s new CEO Mark Lackey discusses the commodity and the company
27.10.2016 by Greg Klein
"As someone who’s been watching uranium companies for 36 years, I’ve seen it’s the team you have, the projects you have and the jurisdiction you’re in." Mark Lackey, president/CEO of ALX Uranium
Thirty-six years in key positions give Mark Lackey a well-rounded perspective on the uranium sector. Added to that is an investor’s outlook gained by experience in the brokerage industry. A prolific media commentator—with over 300 TV appearances—he’s frequently asked to discuss commodities, often focusing on uranium trends and uranium companies. Lackey spoke with ResourceClips.com on October 26, the day he joined ALX Uranium TSXV:AL as president/CEO/director.
Lackey has served as Bank of Canada economist responsible for U.S. economic forecasting and senior commodities manager at the Bank of Montreal. Stints with Gulf Canada, a uranium producer like many other oil companies of the time, and Ontario Hydro, a major uranium consumer, enhanced his supply/demand insight.
That uranium career includes his 16 years in the brokerage industry, serving with Brawley Cathers, Blackmont Capital, Hampton Securities and Pope & Company. More recently he’s been executive VP at CHF Investor Relations and technical adviser at Presmont Group.
To those who watch uranium, its underachieving price hasn’t just been an ongoing disappointment. It’s a source of frustration to those who’ve made bullish forecasts. Lackey has been less surprised than others, however.
“I spoke at a conference last year and might have been the only one who thought uranium was actually going to go down this year,” he recalls. “It did go down, but way more than I thought, which was about $29 or $28. I thought everybody else was too optimistic about Japan restarting all the units and we’ve seen excess supply coming out of places like Kazakhstan. So the weakness this year didn’t surprise me.”
History gives him a sense of perspective, not to mention optimism. “I’ve seen this from $8 in the late ’90s to $136 in 2007. It fell during the 2008 recession, then came back nicely to $72 in 2011, the day Fukushima was hit. So we’ve had some big moves both ways over the years but now we’re down to a price that’s not sustainable. How many new mines would you get at these prices? I can’t think of too many unless you find something huge in the Basin, because high-volume, low-grade projects in many other places have people looking for $50 to $60—not $21.”
He sees a number of price catalysts over the next few years: increased buying from utilities, a possible reduction in Kazakhstan supply, Japanese restarts and nuclear expansion elsewhere.
Kazakhstan provided 39% of world supply last year (compared with Canada’s 22%). But Lackey wonders whether low prices will force the global leader to cut output. Kazakhstan has been disregarding a 2011 self-imposed production cap of 20,000 tonnes per year, the World Nuclear Association states. WNA data attributes last year’s output to 23,800 tonnes.
As for Japan, it “will have to do something ultimately,” Lackey maintains. “There are 51 of the 54 reactors idled, that’s six or seven billion dollars a plant, roughly three or four hundred billion dollars of infrastructure. Thirty of the units have been tested positively. There are political concerns and the closer you are to Fukushima the more difficult it would be to restart them, but southern Japan doesn’t seem to have the same anti-nuclear view. Japan’s burning a lot of coal, they’re burning LNG and I hear from my sources that there are brownouts and blackouts. You can’t have that in an industrial country.”
Japan’s restarts would have a symbolic effect. But it is, after all, just one country. “There are about 60 plants under construction around the world right now, and more and more of them are coming into play,” Lackey points out.
“It’s cleaner than most baseload sources and relatively cheap. The planet has 1.2 billion people with no power and another two billion with just intermittent power.”
Although near-term price scenarios can certainly influence investors, there are other priorities in assessing junior explorers. “As someone who’s been watching uranium companies for 36 years, I’ve seen it’s the team you have, the projects you have and the jurisdiction you’re in. My favourite jurisdiction’s been the Athabasca Basin. It’s got the highest grades and Saskatchewan’s a great province to work in.
“I follow the companies in this space and I can see that ALX has a very strong board, management and technical staff,” he adds. “I’m extremely bullish about uranium and extremely excited about working with such an impressive team. It’s a great opportunity and I’m glad to be part of it.”
Lackey replaces Jon Armes, who steps down to pursue other opportunities but stays on as a consultant. During his six years of leadership at ALX and its predecessor Lakeland Resources, Armes helped build one of the Athabasca Basin’s largest and most prospective uranium exploration portfolios. Most recently he negotiated the Hook-Carter transaction that benefits ALX with the budget and experience of Denison Mines TSX
ML.
Quelle: http://resourceclips.com/2016/10/27/an-expert-view/
LG & ein schööönes langes WE wünscht
L234
27.10.2016 by Greg Klein
Dieses Bild ist nicht SSL-verschlüsselt: [url]http://resourceclips.com/wp-content/feature_images/Mark%20Lackey%20271016.jpg
[/url]"As someone who’s been watching uranium companies for 36 years, I’ve seen it’s the team you have, the projects you have and the jurisdiction you’re in." Mark Lackey, president/CEO of ALX Uranium
Thirty-six years in key positions give Mark Lackey a well-rounded perspective on the uranium sector. Added to that is an investor’s outlook gained by experience in the brokerage industry. A prolific media commentator—with over 300 TV appearances—he’s frequently asked to discuss commodities, often focusing on uranium trends and uranium companies. Lackey spoke with ResourceClips.com on October 26, the day he joined ALX Uranium TSXV:AL as president/CEO/director.
Lackey has served as Bank of Canada economist responsible for U.S. economic forecasting and senior commodities manager at the Bank of Montreal. Stints with Gulf Canada, a uranium producer like many other oil companies of the time, and Ontario Hydro, a major uranium consumer, enhanced his supply/demand insight.
That uranium career includes his 16 years in the brokerage industry, serving with Brawley Cathers, Blackmont Capital, Hampton Securities and Pope & Company. More recently he’s been executive VP at CHF Investor Relations and technical adviser at Presmont Group.
To those who watch uranium, its underachieving price hasn’t just been an ongoing disappointment. It’s a source of frustration to those who’ve made bullish forecasts. Lackey has been less surprised than others, however.
“I spoke at a conference last year and might have been the only one who thought uranium was actually going to go down this year,” he recalls. “It did go down, but way more than I thought, which was about $29 or $28. I thought everybody else was too optimistic about Japan restarting all the units and we’ve seen excess supply coming out of places like Kazakhstan. So the weakness this year didn’t surprise me.”
History gives him a sense of perspective, not to mention optimism. “I’ve seen this from $8 in the late ’90s to $136 in 2007. It fell during the 2008 recession, then came back nicely to $72 in 2011, the day Fukushima was hit. So we’ve had some big moves both ways over the years but now we’re down to a price that’s not sustainable. How many new mines would you get at these prices? I can’t think of too many unless you find something huge in the Basin, because high-volume, low-grade projects in many other places have people looking for $50 to $60—not $21.”
He sees a number of price catalysts over the next few years: increased buying from utilities, a possible reduction in Kazakhstan supply, Japanese restarts and nuclear expansion elsewhere.
Kazakhstan provided 39% of world supply last year (compared with Canada’s 22%). But Lackey wonders whether low prices will force the global leader to cut output. Kazakhstan has been disregarding a 2011 self-imposed production cap of 20,000 tonnes per year, the World Nuclear Association states. WNA data attributes last year’s output to 23,800 tonnes.
As for Japan, it “will have to do something ultimately,” Lackey maintains. “There are 51 of the 54 reactors idled, that’s six or seven billion dollars a plant, roughly three or four hundred billion dollars of infrastructure. Thirty of the units have been tested positively. There are political concerns and the closer you are to Fukushima the more difficult it would be to restart them, but southern Japan doesn’t seem to have the same anti-nuclear view. Japan’s burning a lot of coal, they’re burning LNG and I hear from my sources that there are brownouts and blackouts. You can’t have that in an industrial country.”
Japan’s restarts would have a symbolic effect. But it is, after all, just one country. “There are about 60 plants under construction around the world right now, and more and more of them are coming into play,” Lackey points out.
“It’s cleaner than most baseload sources and relatively cheap. The planet has 1.2 billion people with no power and another two billion with just intermittent power.”
Although near-term price scenarios can certainly influence investors, there are other priorities in assessing junior explorers. “As someone who’s been watching uranium companies for 36 years, I’ve seen it’s the team you have, the projects you have and the jurisdiction you’re in. My favourite jurisdiction’s been the Athabasca Basin. It’s got the highest grades and Saskatchewan’s a great province to work in.
“I follow the companies in this space and I can see that ALX has a very strong board, management and technical staff,” he adds. “I’m extremely bullish about uranium and extremely excited about working with such an impressive team. It’s a great opportunity and I’m glad to be part of it.”
Lackey replaces Jon Armes, who steps down to pursue other opportunities but stays on as a consultant. During his six years of leadership at ALX and its predecessor Lakeland Resources, Armes helped build one of the Athabasca Basin’s largest and most prospective uranium exploration portfolios. Most recently he negotiated the Hook-Carter transaction that benefits ALX with the budget and experience of Denison Mines TSX
ML.Quelle: http://resourceclips.com/2016/10/27/an-expert-view/
LG & ein schööönes langes WE wünscht
L234
Dieses Bild ist nicht SSL-verschlüsselt: [url]http://resourceclips.com/wp-content/feature_images/Mark%20Lackey%20271016.jpg
[/url] Trading Spotlight
Antwort auf Beitrag Nr.: 53.562.114 von links-zwo-drei-vier am 27.10.16 07:57:41Die gestrige News auf deutsch:
ALX Uranium Corp. gibt Ernennung von Mark Lackey zum President und CEO bekannt
Ein Ausschnitt, der mir sehr gefällt:
„Ich freue mich sehr, meine Tätigkeit bei ALX Uranium aufzunehmen“, sagte Herr Lackey. „In den vergangenen Jahren hat ALX ein Expertenteam mit fundierten Fachkenntnissen und jahrelanger Erfahrung in der Exploration im Athabasca-Becken aufgestellt. Ich sage dem Unternehmen und dem Uransektor eine große Zukunft voraus.“
Mark ist regelmäßig Studiogast auf BNN-TV und The Sun Network (Ontario) und absolvierte in den letzten Jahren mehr als 300 Fernsehauftritte. Hierbei nahm er zu Rohstoffen im Allgemeinen Stellung, wurde aber vor allem aufgrund seiner Expertise zum Uransektor eingeladen. Als Branchenexperte äußert er sich zu Entwicklung im Sektor sowie der Angebots-Nachfrage-Situation und analysiert individuelle Uranunternehmen.
Quelle: https://www.irw-press.com/de/news/alx-uranium-corp-gibt-erne…
---> Kommen jetzt eventuell vermehrt Kaufempfehlungen für ALX?
LG
L234
ALX Uranium Corp. gibt Ernennung von Mark Lackey zum President und CEO bekannt
Ein Ausschnitt, der mir sehr gefällt:
„Ich freue mich sehr, meine Tätigkeit bei ALX Uranium aufzunehmen“, sagte Herr Lackey. „In den vergangenen Jahren hat ALX ein Expertenteam mit fundierten Fachkenntnissen und jahrelanger Erfahrung in der Exploration im Athabasca-Becken aufgestellt. Ich sage dem Unternehmen und dem Uransektor eine große Zukunft voraus.“
Mark ist regelmäßig Studiogast auf BNN-TV und The Sun Network (Ontario) und absolvierte in den letzten Jahren mehr als 300 Fernsehauftritte. Hierbei nahm er zu Rohstoffen im Allgemeinen Stellung, wurde aber vor allem aufgrund seiner Expertise zum Uransektor eingeladen. Als Branchenexperte äußert er sich zu Entwicklung im Sektor sowie der Angebots-Nachfrage-Situation und analysiert individuelle Uranunternehmen.
Quelle: https://www.irw-press.com/de/news/alx-uranium-corp-gibt-erne…
---> Kommen jetzt eventuell vermehrt Kaufempfehlungen für ALX?
LG
L234
News vom 26.10.2016: Ein neuer Chef ist da!
ALX Uranium Corp. Announces Mark Lackey as New President and CEO
Weiter auf: https://www.alxuranium.com/news/alx-uranium-corp-announces-m…
L234
ALX Uranium Corp. Announces Mark Lackey as New President and CEO
Weiter auf: https://www.alxuranium.com/news/alx-uranium-corp-announces-m…
L234
Antwort auf Beitrag Nr.: 53.546.925 von sunnydays am 25.10.16 10:45:53
ALX Uranium, Denison agreement for Hook-Carter property
2016-10-25 16:06 ET - Property Agreement
See Property Agreement (C-AL) ALX Uranium Corp
The TSX Venture Exchange has accepted for filing a letter agreement dated Oct. 12, 2016, between ALX Uranium Corp. and Denison Mines Corp., under which ALX has agreed to sell 80-per-cent ownership of its Hook-Carter property in exchange for the issuance of 7.5 million common shares of Denison to ALX. Under the terms of the agreement, ALX will retain a 20-per-cent interest in the property, and Denison agrees to finance ALX's share of the first $12-million in expenditures.
Insider/pro group participation: nil
For further information, please refer to ALX's news release dated Oct. 13, 2016, which is available under ALX's profile on SEDAR.
© 2016 Canjex Publishing Ltd. All rights reserved.
ALX Uranium, Denison agreement for Hook-Carter property
2016-10-25 16:06 ET - Property Agreement
See Property Agreement (C-AL) ALX Uranium Corp
The TSX Venture Exchange has accepted for filing a letter agreement dated Oct. 12, 2016, between ALX Uranium Corp. and Denison Mines Corp., under which ALX has agreed to sell 80-per-cent ownership of its Hook-Carter property in exchange for the issuance of 7.5 million common shares of Denison to ALX. Under the terms of the agreement, ALX will retain a 20-per-cent interest in the property, and Denison agrees to finance ALX's share of the first $12-million in expenditures.
Insider/pro group participation: nil
For further information, please refer to ALX's news release dated Oct. 13, 2016, which is available under ALX's profile on SEDAR.
© 2016 Canjex Publishing Ltd. All rights reserved.
Antwort auf Beitrag Nr.: 53.546.850 von sunnydays am 25.10.16 10:34:52Midas gold ist doch die aktie die derzeit bei 0,68 steht?
alx verkauft aber gerade sehr viel. gut mit den aktienbeteiligungen sichern sie sich den profit falls es in produktion geht. mit den aktienbeteiligungen ist der börsenwert von alx uranium angepasst.
lassen andere für sich arbeiten und sichern sich aktienbeteiligungen der firmen, finde ich nicht so schlecht.
mal sehen ob sie weiter verkaufen oder auch projekte noch selbst entwickeln.
alx verkauft aber gerade sehr viel. gut mit den aktienbeteiligungen sichern sie sich den profit falls es in produktion geht. mit den aktienbeteiligungen ist der börsenwert von alx uranium angepasst.
lassen andere für sich arbeiten und sichern sich aktienbeteiligungen der firmen, finde ich nicht so schlecht.
mal sehen ob sie weiter verkaufen oder auch projekte noch selbst entwickeln.
Antwort auf Beitrag Nr.: 53.517.429 von links-zwo-drei-vier am 20.10.16 14:57:36
Monday, October 24, 2016 - 3:43 PM EDT
ALX Uranium Corp. Announces Sale of Midas Gold Property, Ontario
Vancouver, B.C. (FSCwire) - ALX Uranium Corp. (“ALX” or the “Company) (TSXV: AL; FSE: 6LLN; OTCQX: ALXEF) is pleased to announce that it has entered into a purchase and sale agreement with Miramont Capital Corp., a private British Columbia company (“Miramont”) for Miramont to acquire a 100% undivided interest in the Midas Gold Property (the “Property”), located in the Sault Ste. Marie Mining Division of north-central Ontario. The sale includes ten mining claims encompassing 108 claim units (1,728 hectares or 4,270 acres) located in the Michipicoten Greenstone Belt near Wawa, Ontario.
Under the terms of the agreement, Miramont Capital Corp. can earn an undivided 100% interest in the Property by making cash payments and share issuances to ALX Uranium Corp., as follows:
•$200,000 cash payments prior to December 31, 2018, and
•1,000,000 common shares of Miramont Capital Corp. issued in staged payments to the Company prior to December 31, 2018.
Historical Exploration
Sporadic exploration has been carried out in the Midas Gold Property area, beginning in the 1940s, with most work completed in the late 1970s to 1990. Past exploration has included surface sampling, trenching and airborne and ground geophysics as well as diamond drilling.
During the winter of 2011, ALX (formerly Lakeland Resources Inc.) carried out a geophysical program consisting of ground magnetics and induced polarization (IP) in the southwestern area of the Property. A total of 16 diamond drill holes comprising 2,353 metres were completed to follow up this geophysical program. The drilling was designed to test induced polarization anomalies and surface gold showings. Drilling partially defined two gold-bearing zones (Zones GZ-1 and GZ-2) with 14 of the holes reporting gold mineralization. Highlights of the drilling are summarized below.
MIDAS GOLD PROJECT -- SIGNIFICANT DRILL HOLE INTERVALS (2011 DRILL PROGRAM)
Drill Hole
From
To
Width
Gold
(metres)
(metres)
(metres)
(g/t)
M-11-01
55.00
57.00
2.00
4.61
M-11-04
45.70
50.40
4.70
5.92
including
46.70
49.30
2.60
8.88
M-11-05
28.90
30.90
2.00
7.03
M-11-09
59.20
61.00
1.80
4.04
The drilling identified a broad gold-bearing structure, which can be traced for over 500 metres in strike length. Work indicated that the gold system lies along the southern limb of a broad anticlinal fold structure and is associated with widespread silicification and carbonatization.
A follow-up diamond drill program consisting of 11 holes totalling 1,488 metres was completed in 2013. The 2013 drill program was designed to test the along-strike and downdip extensions of gold mineralization encountered in the previous drilling. Drill holes were also positioned to better define structural corridors that are key to mineral distribution. Nine of 11 holes intersected pyritized east-west trending shear zones previously known as GZ-1 and GZ-2. Highlights of the drilling are summarized below.
MIDAS GOLD PROJECT -- SIGNIFICANT DRILL HOLE INTERVALS (2013 DRILL PROGRAM)
Drill Hole
From
To
Width
Gold
(metres)
(metres)
(metres)
(g/t)
MC-13-19
47.30
48.80
1.50
7.60
including
47.80
48.30
0.50
15.39
and
48.30
48.80
0.50
6.24
MC-13-21
25.70
27.70
2.00
1.60
The 2013 drilling confirmed and further defined gold mineralization that was previously identified in the 2011 drill program. Mineralization appears to be associated with quartz stockwork veining within the shears. The GZ-1 and GZ-2 shear zones both trend east-west with shallow southward dips. The strongly pyritized shear zones are hosted in mafic to intermediate metavolcanics. The zones are subparallel and positioned approximately 200 metres apart.
About the Midas Gold Property
The Midas Gold Property consists of ten (10) staked mining claims encompassing 108 claim units (1,728 hectares or 4,270 acres) located in the Michipicoten Greenstone Belt approximately 50 km northeast of the town of Wawa, Ontario. The Property is road accessible and lies within 20 km to the southeast of the Island Gold Mine of Richmont Mines Inc. and the Magino Gold Project of Argonaut Gold Inc. The Property is subject to an underlying 2% NSR in favor of the original property vendors.
NI 43-101 Disclosure
Technical information in this news release has been reviewed and/or prepared by Sierd Eriks, P.Geo., VP Exploration who is a Qualified Person, in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.
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 in the United States OTCQX under the symbol “ALXEF”. ALX is actively exploring 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.
For more 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: rleschuk@alxuranium.com
On Behalf of the Board of Directors
ALX Uranium Corp.
"Jody Dahrouge"
Jody Dahrouge
Director
Ph: 604.681.1568
TF: 1.877.377.6222
FORWARD LOOKING STATEMENTS:
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release for example include and are not limited to completing the proposed transaction with Miramont and the terms thereof. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include that Miramont is unable or unwilling to complete its payments as agreed, that the potential value of the Midas property will be lost because no expenditures are made on the property, or that the shares of Miramont never attain any value.
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ALX10242016.pdf
Source: ALX Uranium Corp. (TSX Venture:AL, OTCQX:ALXEF)
To follow ALX Uranium Corp. on your favorite social media platform or financial websites, please click on the icons below.
Monday, October 24, 2016 - 3:43 PM EDT
ALX Uranium Corp. Announces Sale of Midas Gold Property, Ontario
Vancouver, B.C. (FSCwire) - ALX Uranium Corp. (“ALX” or the “Company) (TSXV: AL; FSE: 6LLN; OTCQX: ALXEF) is pleased to announce that it has entered into a purchase and sale agreement with Miramont Capital Corp., a private British Columbia company (“Miramont”) for Miramont to acquire a 100% undivided interest in the Midas Gold Property (the “Property”), located in the Sault Ste. Marie Mining Division of north-central Ontario. The sale includes ten mining claims encompassing 108 claim units (1,728 hectares or 4,270 acres) located in the Michipicoten Greenstone Belt near Wawa, Ontario.
Under the terms of the agreement, Miramont Capital Corp. can earn an undivided 100% interest in the Property by making cash payments and share issuances to ALX Uranium Corp., as follows:
•$200,000 cash payments prior to December 31, 2018, and
•1,000,000 common shares of Miramont Capital Corp. issued in staged payments to the Company prior to December 31, 2018.
Historical Exploration
Sporadic exploration has been carried out in the Midas Gold Property area, beginning in the 1940s, with most work completed in the late 1970s to 1990. Past exploration has included surface sampling, trenching and airborne and ground geophysics as well as diamond drilling.
During the winter of 2011, ALX (formerly Lakeland Resources Inc.) carried out a geophysical program consisting of ground magnetics and induced polarization (IP) in the southwestern area of the Property. A total of 16 diamond drill holes comprising 2,353 metres were completed to follow up this geophysical program. The drilling was designed to test induced polarization anomalies and surface gold showings. Drilling partially defined two gold-bearing zones (Zones GZ-1 and GZ-2) with 14 of the holes reporting gold mineralization. Highlights of the drilling are summarized below.
MIDAS GOLD PROJECT -- SIGNIFICANT DRILL HOLE INTERVALS (2011 DRILL PROGRAM)
Drill Hole
From
To
Width
Gold
(metres)
(metres)
(metres)
(g/t)
M-11-01
55.00
57.00
2.00
4.61
M-11-04
45.70
50.40
4.70
5.92
including
46.70
49.30
2.60
8.88
M-11-05
28.90
30.90
2.00
7.03
M-11-09
59.20
61.00
1.80
4.04
The drilling identified a broad gold-bearing structure, which can be traced for over 500 metres in strike length. Work indicated that the gold system lies along the southern limb of a broad anticlinal fold structure and is associated with widespread silicification and carbonatization.
A follow-up diamond drill program consisting of 11 holes totalling 1,488 metres was completed in 2013. The 2013 drill program was designed to test the along-strike and downdip extensions of gold mineralization encountered in the previous drilling. Drill holes were also positioned to better define structural corridors that are key to mineral distribution. Nine of 11 holes intersected pyritized east-west trending shear zones previously known as GZ-1 and GZ-2. Highlights of the drilling are summarized below.
MIDAS GOLD PROJECT -- SIGNIFICANT DRILL HOLE INTERVALS (2013 DRILL PROGRAM)
Drill Hole
From
To
Width
Gold
(metres)
(metres)
(metres)
(g/t)
MC-13-19
47.30
48.80
1.50
7.60
including
47.80
48.30
0.50
15.39
and
48.30
48.80
0.50
6.24
MC-13-21
25.70
27.70
2.00
1.60
The 2013 drilling confirmed and further defined gold mineralization that was previously identified in the 2011 drill program. Mineralization appears to be associated with quartz stockwork veining within the shears. The GZ-1 and GZ-2 shear zones both trend east-west with shallow southward dips. The strongly pyritized shear zones are hosted in mafic to intermediate metavolcanics. The zones are subparallel and positioned approximately 200 metres apart.
About the Midas Gold Property
The Midas Gold Property consists of ten (10) staked mining claims encompassing 108 claim units (1,728 hectares or 4,270 acres) located in the Michipicoten Greenstone Belt approximately 50 km northeast of the town of Wawa, Ontario. The Property is road accessible and lies within 20 km to the southeast of the Island Gold Mine of Richmont Mines Inc. and the Magino Gold Project of Argonaut Gold Inc. The Property is subject to an underlying 2% NSR in favor of the original property vendors.
NI 43-101 Disclosure
Technical information in this news release has been reviewed and/or prepared by Sierd Eriks, P.Geo., VP Exploration who is a Qualified Person, in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.
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 in the United States OTCQX under the symbol “ALXEF”. ALX is actively exploring 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.
For more 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: rleschuk@alxuranium.com
On Behalf of the Board of Directors
ALX Uranium Corp.
"Jody Dahrouge"
Jody Dahrouge
Director
Ph: 604.681.1568
TF: 1.877.377.6222
FORWARD LOOKING STATEMENTS:
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release for example include and are not limited to completing the proposed transaction with Miramont and the terms thereof. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Factors that could cause actual results to differ materially may include that Miramont is unable or unwilling to complete its payments as agreed, that the potential value of the Midas property will be lost because no expenditures are made on the property, or that the shares of Miramont never attain any value.
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ALX10242016.pdf
Source: ALX Uranium Corp. (TSX Venture:AL, OTCQX:ALXEF)
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