Welcome to our dedicated page for ALX RES news (Ticker: ALXEF), a resource for investors and traders seeking the latest updates and insights on ALX RES stock.
ALX Resources Corp. (ALXEF), also known as ALX, is a mineral exploration company based in Vancouver, BC, Canada. The company is engaged in exploring a portfolio of mineral properties in Canada, focusing on uranium, lithium, nickel-copper-cobalt, and gold projects. ALX holds over 240,000 hectares of prospective lands in Saskatchewan, a region known for hosting high-grade uranium mines, producing gold mines, diamond deposits, and historical base metals production.
The Gibbons Creek Uranium Project, located in the northern Athabasca Basin near Stony Rapids, Saskatchewan, is one of ALX's key projects. The 100%-owned project has recently completed its 2024 winter drilling program, which aimed to test for uranium mineralization continuity. Positive results from the drilling program have confirmed low-level uranium mineralization in multiple holes near the unconformity, highlighting the project's prospectivity.
ALX has also entered into an option earn-in transaction with Trinex Minerals Limited for Gibbons Creek. Under this agreement, Trinex can earn an initial 51% interest in the project and up to a 75% participating interest in two stages over five years by making cash payments, share payments, and incurring exploration expenditures.
The Company's strategic partnerships, ongoing exploration programs, and focus on high-potential mineral properties position it well for future growth and discovery opportunities in the mineral exploration sector.
ALX Resources Corp. (TSXV: AL, OTC: ALXEF) has completed reconnaissance prospecting and sampling programs at its 100%-owned Cannon Copper Project in Ontario, Canada. The project, located near Elliot Lake, includes the site of the historic Cannon Copper Mine. Key highlights of the 2024 programs include:
1. Collection of 22 rock samples, with a June 2024 grab sample yielding 1.44% copper.
2. Location of 9 historical drill holes.
3. Follow-up on Structural Complexity and Acquired Inductively Induced Polarization studies by Geotech , identifying a broad exploration target area.
4. Completion of a Soil Gas Hydrocarbon sampling survey with 176 samples collected.
These initiatives aim to enhance understanding of the project's mineralization and exploration potential using modern analytical techniques.
ALX Resources Corp. has acquired the Blackbird Project in northern Saskatchewan, Canada. The project includes twelve mineral claims, covering approximately 11,628 hectares. Located 70 kilometers north of LaRonge, the project is in a new metallogenic district near the historic Rottenstone Mine, which produced nickel, copper, gold, and PGMs. The acquisition follows Ramp Metals Inc.'s high-grade gold discovery nearby, which reported 73.55 g/t gold over 7.5 meters. ALX plans to use modern exploration techniques, including remote sensing and airborne electromagnetic surveying, to explore the site further. Applications for exploration permits are underway for 2024 activities.
ALX Resources Corp. announced results from its 2024 winter drilling program at the Gibbons Creek Uranium Project in the Athabasca Basin, Saskatchewan. The program confirmed low-level uranium mineralization in four of five holes, intersecting uranium at or near the unconformity between Athabasca Sandstone and basement metasediments. Notably, hole GC24-04 exhibited the strongest radiometric response, with peak radioactivity of 8,662 cps. A helicopter-borne VTEM survey is planned for June 2024, and additional drilling will follow based on the survey's analysis. Trinex Lithium, under an earn-in agreement, is fully funded for the 2024 exploration activities.
On May 23, 2024, ALX Resources announced an amendment to its joint venture agreement with Denison Mines, allowing ALX to increase its ownership in the Hook-Carter Uranium Project from 20% to 25% by funding $3 million in exploration over the next 30 months. The Hook-Carter property, known for its potential along the Patterson Lake Corridor, is adjacent to significant uranium deposits owned by NexGen and Fission Uranium. Since 2016, Denison has invested $7.05 million in exploration, including surface and airborne geophysical programs and extensive diamond drilling. The amendment dictates that ALX must fund a minimum of $500,000 by March 31, 2025, and secure an additional $750,000 by June 30, 2025. If ALX fails to meet the $3 million target, the ownership structure will remain 80% Denison and 20% ALX.
ALX Resources Corp. has announced a definitive option agreement with Trinex Minerals for the Gibbons Creek Uranium Project in Saskatchewan. Trinex Canada can earn an initial 51% interest and up to 75% in the project over five years by making payments and exploration expenditures. ALX initiated a diamond drilling program in March 2024, with promising uranium mineralization results.
ALX Resources Corp. announces plans for the 2024 summer exploration at the Hydra Lithium Project in Quebec, Canada, in collaboration with Forrestania Resources The exploration program includes prospecting, geological mapping, and remote sensing analysis to identify lithium-cesium-tantalum-bearing pegmatites.
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