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ALX Uranium Corp.
Summary
| Project: | Close Lake | |
|---|---|---|
| Deposit: | Close Lake | |
| Location: | Canada | |
| Commodities: | Uranium-Copper | |
| Date: | 11/14/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-11-2019: ALX Uranium Corp. announces an Exploration/Drilling Update report for its Close Lake deposit at the Close Lake project. JV - drilling results incl. 1m @ 43.2ppm U. Vancouver, British Columbia--(Newsfile Corp. - November 14, 2019) - ALX Uranium | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Sierd Eriks (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - November 14, 2019) - ALX UraniumCorp. (TSXV: AL) (FSE: 6LLN) OTC: ALXEF) ("ALX" or the "Company") announced today that it has received results from Orano Canada Inc. ("Orano Canada") for the fall 2019 diamond drilling program at the Close Lake Uranium Project ("Close Lake", or the "Project") located in the eastern Athabasca Basin area of northern Saskatchewan, Canada. Close Lake is situated between the Cigar Lake and McArthur River mines, the two highest-grade uranium mines in the world. Orano Canada has proposed a budget of $2.375 million to the Close Lake joint venture partners for winter 2020 geophysical and drilling programs in the southern part of the Project, with ground geophysical work to begin in December 2019. A moving loop electromagnetic survey is planned to better define targets on several target areas, including along the C-9 South conductor, which is located on trend with the conductive system that hosts Cameco's McArthur River uranium mine southwest of the Project. The 2020 drilling program is proposed to consist of up to ten drill holes totaling approximately 5,200 metres. Significant gaps in historical drilling of up to 1.2 kilometres remain along the defined conductor trends in the southern part of Close Lake. The exploration strategy for the Project remains to test for unconformity-style uranium mineralization by groundtruthing conductor locations by geophysical means, fence drilling of geological targets, and drilling unexplored and underexplored conductors that demonstrate favourable characteristics for uranium mineralization. Click here to view maps of Close Lake. | |
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