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ALX Uranium Corp.
Summary
| Project: | Newnham Lake | |
|---|---|---|
| Deposit: | Newnham Lake | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 9/6/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-9-2018: ALX Uranium Corp. announces an Exploration/Drilling Update report for its Newnham Lake deposit at the Newnham Lake project. Drilling results incl. 0.20m @ 1656ppm U3O8 from 86.9m. Vancouver, British Columbia--(Newsfile Corp. - September 6, 2018) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Sierd Eriks (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - September 6, 2018) - ALX UraniumCorp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to report geochemical results from its inaugural diamond drilling program at the Newnham Lake Uranium Project ("Newnham Lake") and ground geophysical results from the Perch Project ("Perch"), each located in the northeastern Athabasca Basin of northern Saskatchewan, east of Stony Rapids. NewnhamLake 2018 Drilling Program The 2018 drilling program at Newnham Lake consisted of three drill holes totaling approximately 1,164 metres. The three drill holes were designed to test high-priority drill targets interpreted from integrating the results of a historical airborne ZTEM™ survey with a 3D induced polarization/resistivity ("IP/resistivity") ground geophysical survey carried out by ALX in 2017, along with other historical data. Highlights of the 2018 Drilling Program Drill hole NL18-001 was drilled to test a target approximately 140 metres along strike to the east of historical drill hole BL066, drilled in 1979. Hole BL-066 intersected 1,656 parts per million ("ppm") uranium over 0.20 metres from 86.9 to 87.1 metres in basement pelitic gneiss just below the base of the Athabasca sandstone. Drill hole NL18-001 intersected approximately 6.0 metres of elevated radioactivity (see ALX news release dated May 14, 2018) straddling the subAthabasca unconformity, which included visible pitchblende. A 5.7 metre interval averaged 0.035% U3O8 from 100.8 to 106.5 metres, including a sample containing 0.118% U3O8 over 0.5 metres. Uranium pathfinder elements returned from the interval include nickel (up to 149 ppm Ni), arsenic (up to 64 ppm As) and boron (up to 217 ppm B); Drill hole NL18-002 was drilled approximately 200 metres along strike to the southeast of historical drill hole BL-090, drilled in 1980. Hole BL090 intersected 855 ppm uranium over 0.3 metres from 74.2 to 75.5 metres in locally graphitic pelitic gneiss 10 metres below the unconformity. Drill hole NL18-002 encountered a fault zone just above the unconformity consisting of highly brecciated, broken and rubbly core with elevated radioactivity. A strongly hematized red zone in the basement rocks just below the fault zone also shows elevated radioactivity. Geochemical sampling of the fault zone and upper portion of the red zone returned anomalous uranium (up to 202 ppm U), nickel (up to 74 ppm Ni) and boron (up to 207 ppm); | |
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