ALX Uranium Corp. Completes Ground Radon Survey at Lazy Edward Bay Property,
Vancouver, B.C. (FSCwire) - ALX Uranium Corp. (“ALX” or the “Company”) (TSXV: AL; FSE: 6LLN; OTCQX: ALXEF) is pleased to announce that a follow up radon-in-water sampling program has been completed at its Lazy Edward Bay Property located at the southern margin of the Athabasca Basin, Saskatchewan.
The Lazy Edward Bay Property (the “Property”) encompasses 18,916 ha (46,741 acres) and is about 55 kilometres west of the Key Lake Mill and historic uranium mine. The Property covers several shallow exploration targets.
Exploration on the Property at the Bay Trend consisted of 143 radon-in-water (RIW) samples collected by RadonEx Ltd. of St-Lazare, Quebec whose Electret Ionization Chamber (EIC) technology has been successful in drill targeting at the Triple R deposit within the Patterson Lake South camp.
The survey was designed to be an extension of the 2014 radon-in-soil program along the conductive corridor of the Bay Trend carried out on land to the southwest. The 2016 reconnaissance-scale survey covered a 1,400 by 450 metre area of Lazy Edward Bay. Grid lines were spaced 200 metres apart with stations spaced 25 metres apart.
The survey resulted in eight highly anomalous one-point samples above 100 picoCuries per litre (pCi/L) including four strong anomalies that are above 200 pCi/L. The anomalous samples are located approximately 200 metres northeast of historical drill hole LE ‘50, which returned anomalous uranium in the basement rocks (reported at 908 ppm U3O8). Many of the anomalous radon samples appear to lie along a northeast-striking linear trend in the central portion of the grid which overlies historical conductors found by previous explorers.
“Within the Athabasca Basin, historical results are used to guide exploration that could ultimately produce a new discovery,” stated Jon Armes, President of ALX Uranium Corp. “At Lazy Edward Bay, given the proximity of the highly anomalous radon samples to historical drill hole LE-50; which was never followed up with drilling along strike, the results of this radon survey demonstrate the significant exploration potential at Lazy Edward Bay.”
A map of the results is located on the Company’s website:
http://www.alxuranium.com/projects/lazy-edward-bay
NI 43-101 Disclosure
Technical information in this news release has been reviewed and/or prepared by Sierd Eriks, P.Geo., VP Exploration, and Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., who are both qualified persons, in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.
About the Lazy Edward Bay Property
The Lazy Edward Bay Property consists of 21 mineral claims totaling 18,916 ha (46,741 acres) at the southern margin of the Athabasca Basin and is about 55 kilometres west of the Key Lake Mill and historic mine. The Property is 100% owned by ALX Uranium Corp. The Property covers several shallow exploration targets. A highlight of the historic work at the Bay Trend is the results of a drilling program conducted by Uranerz Exploration and Mining Limited in 1982. Historic drill hole LE-50 was located approximately one kilometre south of the Athabasca Basin. The hole intersected basement rocks comprised of moderately chloritized and sericitized, and weakly hematized migmatitic, graphitic pelites which returned 908 ppm U3O8 over 0.3 metres along with anomalous boron, nickel and other pathfinder metals (Saskatchewan Assessment Report: 74G07-0042).
A 2005 airborne Versatile Time Domain Electromagnetic (VTEM) survey conducted by JNR Resources Inc. confirmed the historic conductors, and a follow-up 2007 ground Fixed Loop Transient Electromagnetic (FLTEM) survey refined the conductor location in some areas. The FLTEM targets have yet to be drill tested. The 2014 and 2015 geochemical and radon surveys have bolstered the geophysical targets and are now considered to be high-priority drill-ready targets.
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.
"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:
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. 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 misinterpretation of data; that we may not be able to get equipment or labour as we need it; that we may not be able to raise sufficient funds to complete our intended exploration and development; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that equipment may not work as well as expected; that analysis of data may not be possible accurately and at depth; that results which we or others have found in any particular location are not necessarily indicative of larger areas of our properties; that we may not complete environmental programs in a timely manner or at all; that market prices may not justify commercial production costs; and that despite encouraging data there may be no commercially exploitable mineralization on our properties.
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/ALX04072016_1.pdf
Source: ALX Uranium Corp. (TSX Venture:AL, OTCQX:ALXEF)
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