TSXv: AL FSE: 6LLN OTCQX: ALXEF
VANCOUVER, Dec. 1, 2015 /CNW/ - ALX Uranium Corp. ("ALX" or
the "Company") (TSXv: AL; FSE: 6LLN; OTCQX: ALXEF) is pleased to
announce that drilling is underway at its Gibbons Creek Property
("Gibbons Creek" or the "Property"), located along the northern
margin of the Athabasca Basin in
northern Saskatchewan.
Planned are approximately 1,200 to 1,500 metres of drilling in
six to eight drill holes. Previously intersected uranium
mineralization by ALX is near-surface at Gibbons Creek (see
Lakeland News Release dated May
1st, 2015). Drill holes will be less than
200 metres long. Overburden is generally fifteen metres, and
depth to the unconformity is generally less than 70 metres.
The target area is approximately three kilometres from Highway
905. The program has excellent road access and is expected to
take three weeks to complete.
Summary figures are compiled into a single pdf file on the
Company's website at www.alxuranium.com
The drill program at Gibbons Creek is a continuation of
extensive exploration during the past three years, advancing an
integrated target including data from:
- Ground gravity surveys completed in February and October, 2015
(See ALX News Release: November
12th, 2015). A high contrast gravity low feature
overlaps the northern part of a large radon anomaly.
- Radon surveys completed in 2013 and 2015 (See ALX News Release:
October 27th, 2015). A
large anomaly comprising 77 samples covers approximately 1,200
metres by 500 metres. Peak radon values ranging between 4 and 10.77
pCi/m2/sec at ten locations, which are amongst the
highest recorded values in the Athabasca Basin.
- DC Resistivity survey completed in 2013 (see Lakeland News
Release dated October 2nd,
2013. A resistivity low is coincident with the large radon
anomaly.
- Historic airborne EM survey in 1979, augmenting ground-based EM
surveys from the late 1970s. A central conductor is a specific
target within the gravity low and resistivity low.
This drill program follows up on encouraging results from the
winter program completed in March, 2015. Drill hole GC15-03
intersected 0.13% U3O8 over 0.23 metres in a
gravity low located approximately 500 metres to the south of the
current target (see Lakeland News Release dated May 1st, 2015). Diamond drill
hole GC15-06 was located at the edge of the large radon anomaly and
gravity low targeted for this program and encountered strongly
anomalous geochemical pathfinders (B, Pb, Ni, Co, Cu) within both
the sandstone and alteration within the basement
lithologies.
About the Gibbons Creek Property
The Gibbons Creek Property consists of seven mineral claims
encompassing 13,864 hectares (34,259 acres), located along the
northern margin of the Athabasca
Basin, immediately west of the community of Stony Rapids.
The predecessor of ALX Uranium Corp., Lakeland Resources Inc.
has been exploring the property since 2013 and has conducted
surface prospecting, radon and soil geochemical surveys, ground
gravity surveys, ground DC-Resistivity surveys and drilling.
NI 43-101 Disclosure
The technical information above has been prepared in accordance
with the Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed on behalf of the company by
Neil McCallum, P.Geo., of Dahrouge
Geological Consulting Ltd, a qualified person.
About ALX Uranium Corp.
ALX Uranium Corp. was formed as the result of a business
combination between Lakeland Resources Inc. and Alpha Exploration
Inc. (see ALX News Releases dated September
23 and September 29,
2015). 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 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.
"Jonathan Armes"
Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222
Email: jarmes@alxuranium.com
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.
