ALX Resources

ALX Resources

TSXV:AL

New Technologies Lead to New Discoveries

Company Highlights

  • Uses the latest technologies to execute well-designed exploration programs in their primary projects located in the stable jurisdictions of Saskatchewan and Ontario.
  • In October 2019, high grade nickel was located on surface from the company’s first site visit to the Firebird nickel project in Saskatchewan with the additional presence of copper anomalies.
  • Rio Tinto Canada Exploration Inc. recognized Firebird’s potential and through an option agreement announce in August 2020 can earn up to an 80% interest for C$12.0 million in exploration expenditures and cash payments to ALX Resources totaling $125,000.
  • Owns and explores properties within the Red Lake Mining District, a region that has produced over 28 million ounces of gold since mines began production in 1925.
  • High-resolution airborne surveys have been completed in the Red Lake district and the company’s ground sampling programs in 2019-2020 have found gold mineralization on the Vixen gold project with samples ranging up to 23.9 g/t gold.
  • Acquired by staking the Javelin Uranium Project in northern Saskatchewan, Canada with no underlying royalties.
  • ALX Resources completed a drilling program in the Northern Athabasca Basin, comprising approximately 1240 meters, atop two previously untested anomalies.
  • ALX Resources acquired Hydra Lithium Project in a world-class lithium exploration district in the James Bay region of northern Quebec, Canada. The project consists of 306 mineral claims in four sub-projects totalling 15,837 hectares (39,134 acres).
  • ALX Resources acquired by staking the 31,808 hectares Anchor Lithium project within the Meguma Terrane of central and western Nova Scotia, Canada.
  • The company staked additional 108 claims expanding the Hydra Lithium Project from 15,837 hectares to a total area of 21,746 hectares.
  • ALX Resources purchased the Reindeer Lithium project consisting of five mineral claims, which ALX believes to be underexplored for lithium-bearing pegmatites in the modern era.
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Overview

ALX Resources (TSXV:AL,FWB:6LLN,OTC:ALXEF) is dedicated to providing shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include gold, nickelcoppercobalt and uranium. Using the latest technologies, ALX plans and executes well-designed exploration programs and holds over 200,000 hectares of prospective properties in Saskatchewan and Ontario, Canada. Aiming for international expansion, ALX Resources also has properties in Norway, with its Draco VMS project.

Having operations in stable Canadian jurisdictions strategically positions ALX Resources in key exploration areas with strong potential for economic base metals deposits, producing gold mines and the richest uranium deposits in the world. This includes the recently acquired Firebird nickel (formerly Falcon nickel) and Flying Vee nickel-copper-cobalt projects, and the Sceptre gold project, all located in Northern Saskatchewan.

In 2019, ALX Resources acquired the Vixen gold project located in the historic Red Lake Mining District of Ontario, Canada. To date, the Red Lake Mining District has produced over 28 million ounces of gold since mines began production in 1925. Historic gold mines in the Red Lake camp include the Campbell mine, the Red Lake mine, and the Couchenour-Williams mine, which have all been multi-million ounce gold producers.

The Vixen North property lies within the Birch-Uchi greenstone belt, a geological trend located to the northeast of Red Lake. This area hosts numerous historical gold mines and is highly prospective for new showings of gold mineralization. In 2019 and 2020, high-resolution airborne magnetic surveying and site visits were conducted, which confirmed prospective geology and surface gold mineralization.

ALX Resources has demonstrated that key partnerships can increase the potential for success in the company’s primary projects. The company owns a 100 percent interest in the Firebird nickel project, which is now under option to Rio Tinto Exploration Canada Inc. Through an agreement announced in August 2020, Rio Tinto Exploration Canada can earn up to an 80 percent interest in the Firebird nickel project by carrying out C$12 million in exploration expenditures and making cash payments of $125,000 to ALX Resources.

Additionally, the company holds interests in a number of uranium exploration properties in Northern Saskatchewan, including a 20 percent interest in the Hook-Carter uranium project. Denison Mines Corp. purchased an 80 percent interest in Hook-Carter and has been operating exploration since 2016.

ALX Resources completed a diamond drilling program in the Northern Athabasca Basin, proximal to Stony Rapids, Saskatchewan. The program consisted of three holes, spanning approximately 1240 meters, atop two previously untested anomalies. In Q1, 2022 the company prepared trails and drill pads along the Zinger and Eclipse geophysical conductors, detected in historic airborne surveys.

The Hook-Carter property measures 24,262 hectares over 82 claims in the southwest part of the Athabasca Basin. Located in the prolific Patterson Lake Corridor, this region hosts new and expanding uranium discoveries, including the Triple R Deposit, Arrow Deposit and the Spitfire Zone. Drilling by Denison in 2018-2019 totaling 11,757 metres in fifteen completed drill holes exhibited the hallmarks of a widespread, intense alteration system.

In 2022, ALX Resources acquired by staking the Anchor Lithium Project located within the Meguma Terrane of central and western Nova Scotia, Canada. Anchor covers 31,808 hectares consisting of 34 mineral licences in two sub-projects known as "Drake" and "Yankee". Anchor is underexplored for lithium-bearing pegmatites and the company plans to obtain a permit for exploration from the Government of Nova Scotia Department of Energy and Mines and to consult with local landholders to allow prospecting and sampling in pursuit of lithium-bearing pegmatite intrusions.

The company also acquired the Hydra Lithium Project in the James Bay region of northern Quebec, Canada in September 2022 with 306 mineral claims in four sub-projects totalling 15,837 hectares. In December 2022, ALX announced the staking of additional 108 claims, giving Hydra a total area of 21,746 hectares. The additional claims are in two claim blocks known as Cobra and Viper which were staked after further geological assessment of the area, targeting discrete greenstone formations that have the potential to host LCT-type pegmatites.

In 2023, ALX Resources purchased the Reindeer Lithium project consisting of five mineral claims, which ALX believes to be underexplored for lithium-bearing pegmatites in the modern era. Reindeer is located approximately 130 kilometers east of LaRonge, SK and 20 kilometers southwest of the community of Pelican Narrows, SK. Reindeer is 100 percent owned by the company, subject to a 2.0 percent net smelter returns royalty (NSR) in favor of the vendor of the project claims. ALX intends to carry out reconnaissance geological mapping in the summer/fall of 2023 to evaluate the lithium potential of the pegmatites present at the Project.

Along with ALX Resources’ rich portfolio of diverse assets in world-renowned jurisdictions, identifying undervalued and underexplored assets is the company’s strong suit. As early adopters of new methods of exploration, the company embodies innovation with its willingness to utilize new geochemical and geophysical technologies. This includes the use of artificial intelligence recognition methods and other emerging science-focused exploration tools.

ALX Resources has a world-class management team with shareholders who have diverse expertise in mineral and gold exploration. The board of directors and officers of the company currently hold 8.54 million shares representing 5.67 percent of ALX’s issued and outstanding common shares. Holystone Energy Company, a private investment company, owns 25.59 million shares for a 16.98 percent interest. Dundee Corp. (TSX:DCA) and Orano Canada own 11.72 percent and 2.65 percent interests, respectively.
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Overview

ALX Resources (TSXV:AL,FWB:6LLN,OTC:ALXEF) is dedicated to providing shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include gold, nickelcoppercobalt and uranium. Using the latest technologies, ALX plans and executes well-designed exploration programs and holds over 200,000 hectares of prospective properties in Saskatchewan and Ontario, Canada. Aiming for international expansion, ALX Resources also has properties in Norway, with its Draco VMS project.

Having operations in stable Canadian jurisdictions strategically positions ALX Resources in key exploration areas with strong potential for economic base metals deposits, producing gold mines and the richest uranium deposits in the world. This includes the recently acquired Firebird nickel (formerly Falcon nickel) and Flying Vee nickel-copper-cobalt projects, and the Sceptre gold project, all located in Northern Saskatchewan.

In 2019, ALX Resources acquired the Vixen gold project located in the historic Red Lake Mining District of Ontario, Canada. To date, the Red Lake Mining District has produced over 28 million ounces of gold since mines began production in 1925. Historic gold mines in the Red Lake camp include the Campbell mine, the Red Lake mine, and the Couchenour-Williams mine, which have all been multi-million ounce gold producers.

The Vixen North property lies within the Birch-Uchi greenstone belt, a geological trend located to the northeast of Red Lake. This area hosts numerous historical gold mines and is highly prospective for new showings of gold mineralization. In 2019 and 2020, high-resolution airborne magnetic surveying and site visits were conducted, which confirmed prospective geology and surface gold mineralization.

ALX Resources has demonstrated that key partnerships can increase the potential for success in the company’s primary projects. The company owns a 100 percent interest in the Firebird nickel project, which is now under option to Rio Tinto Exploration Canada Inc. Through an agreement announced in August 2020, Rio Tinto Exploration Canada can earn up to an 80 percent interest in the Firebird nickel project by carrying out C$12 million in exploration expenditures and making cash payments of $125,000 to ALX Resources.

Additionally, the company holds interests in a number of uranium exploration properties in Northern Saskatchewan, including a 20 percent interest in the Hook-Carter uranium project. Denison Mines Corp. purchased an 80 percent interest in Hook-Carter and has been operating exploration since 2016.

ALX Resources completed a diamond drilling program in the Northern Athabasca Basin, proximal to Stony Rapids, Saskatchewan. The program consisted of three holes, spanning approximately 1240 meters, atop two previously untested anomalies. In Q1, 2022 the company prepared trails and drill pads along the Zinger and Eclipse geophysical conductors, detected in historic airborne surveys.

The Hook-Carter property measures 24,262 hectares over 82 claims in the southwest part of the Athabasca Basin. Located in the prolific Patterson Lake Corridor, this region hosts new and expanding uranium discoveries, including the Triple R Deposit, Arrow Deposit and the Spitfire Zone. Drilling by Denison in 2018-2019 totaling 11,757 metres in fifteen completed drill holes exhibited the hallmarks of a widespread, intense alteration system.

In 2022, ALX Resources acquired by staking the Anchor Lithium Project located within the Meguma Terrane of central and western Nova Scotia, Canada. Anchor covers 31,808 hectares consisting of 34 mineral licences in two sub-projects known as "Drake" and "Yankee". Anchor is underexplored for lithium-bearing pegmatites and the company plans to obtain a permit for exploration from the Government of Nova Scotia Department of Energy and Mines and to consult with local landholders to allow prospecting and sampling in pursuit of lithium-bearing pegmatite intrusions.

The company also acquired the Hydra Lithium Project in the James Bay region of northern Quebec, Canada in September 2022 with 306 mineral claims in four sub-projects totalling 15,837 hectares. In December 2022, ALX announced the staking of additional 108 claims, giving Hydra a total area of 21,746 hectares. The additional claims are in two claim blocks known as Cobra and Viper which were staked after further geological assessment of the area, targeting discrete greenstone formations that have the potential to host LCT-type pegmatites.

In 2023, ALX Resources purchased the Reindeer Lithium project consisting of five mineral claims, which ALX believes to be underexplored for lithium-bearing pegmatites in the modern era. Reindeer is located approximately 130 kilometers east of LaRonge, SK and 20 kilometers southwest of the community of Pelican Narrows, SK. Reindeer is 100 percent owned by the company, subject to a 2.0 percent net smelter returns royalty (NSR) in favor of the vendor of the project claims. ALX intends to carry out reconnaissance geological mapping in the summer/fall of 2023 to evaluate the lithium potential of the pegmatites present at the Project.

Along with ALX Resources’ rich portfolio of diverse assets in world-renowned jurisdictions, identifying undervalued and underexplored assets is the company’s strong suit. As early adopters of new methods of exploration, the company embodies innovation with its willingness to utilize new geochemical and geophysical technologies. This includes the use of artificial intelligence recognition methods and other emerging science-focused exploration tools.

ALX Resources has a world-class management team with shareholders who have diverse expertise in mineral and gold exploration. The board of directors and officers of the company currently hold 8.54 million shares representing 5.67 percent of ALX’s issued and outstanding common shares. Holystone Energy Company, a private investment company, owns 25.59 million shares for a 16.98 percent interest. Dundee Corp. (TSX:DCA) and Orano Canada own 11.72 percent and 2.65 percent interests, respectively.

Company Highlights

  • Uses the latest technologies to execute well-designed exploration programs in their primary projects located in the stable jurisdictions of Saskatchewan and Ontario.
  • In October 2019, high grade nickel was located on surface from the company’s first site visit to the Firebird nickel project in Saskatchewan with the additional presence of copper anomalies.
  • Rio Tinto Canada Exploration Inc. recognized Firebird’s potential and through an option agreement announce in August 2020 can earn up to an 80% interest for C$12.0 million in exploration expenditures and cash payments to ALX Resources totaling $125,000.
  • Owns and explores properties within the Red Lake Mining District, a region that has produced over 28 million ounces of gold since mines began production in 1925.
  • High-resolution airborne surveys have been completed in the Red Lake district and the company’s ground sampling programs in 2019-2020 have found gold mineralization on the Vixen gold project with samples ranging up to 23.9 g/t gold.
  • Acquired by staking the Javelin Uranium Project in northern Saskatchewan, Canada with no underlying royalties.
  • ALX Resources completed a drilling program in the Northern Athabasca Basin, comprising approximately 1240 meters, atop two previously untested anomalies.
  • ALX Resources acquired Hydra Lithium Project in a world-class lithium exploration district in the James Bay region of northern Quebec, Canada. The project consists of 306 mineral claims in four sub-projects totalling 15,837 hectares (39,134 acres).
  • ALX Resources acquired by staking the 31,808 hectares Anchor Lithium project within the Meguma Terrane of central and western Nova Scotia, Canada.
  • The company staked additional 108 claims expanding the Hydra Lithium Project from 15,837 hectares to a total area of 21,746 hectares.
  • ALX Resources purchased the Reindeer Lithium project consisting of five mineral claims, which ALX believes to be underexplored for lithium-bearing pegmatites in the modern era.

Key Projects

Firebird Nickel

Firebird Nickel Project

Saskatchewan presents a rich mineral endowment with the presence of uranium, gold, base metals and diamonds. For example, over 1.6 million ounces of gold have been produced at the Seabee gold mine, which has been operating since 1991. Saskatchewan hosts the richest uranium mines in the world and was ranked in the world’s Top Ten mining jurisdictions in a 2021 survey conducted by the Fraser Institute.

ALX Resources has acquired 24,137 hectares at its 100-percent-owned Firebird nickel project. Firebird hosts three historical nickel-copper-cobalt deposits: Axis Lake, Rea Lake, and Currie Lake. Under the option granted by the company in 2020, Rio Tinto Exploration Canada, can earn up to 80 percent in interest in Firebird.

Strategically positioned, Firebird is located near advantageous infrastructure, including an all-weather road and airport, which are both within 10 kilometers of the property. Located proximal to the town of Stony Rapids, SK, its access to hydroelectric power offers increased efficiencies for exploration.

ALX Resources is applying modern exploration techniques at Firebird to a rare, undeveloped magmatic nickel sulfide deposit. In October 2019, high-grade nickel ranging up to 3.13 percent was located in surface rock samples from ALX’s first site visit. Soil and lake sediment samples collected in 2019 and 2020 showed coincident nickel and copper anomalies over an airborne conductor. These findings increased investor interest in ALX’s exploration endeavours, which eventually led to the option deal with Rio Tinto Exploration.

During the Firebird winter drilling program in 2020, three holes were drilled totaling 600 meters. Nickel-copper mineralization was intersected in two of the three holes, which are promising results for the expansion of this project. Summer 2020 exploration plans resulted in sampling at the Wiley Lake Nickel Showing. ALX collected two core samples and four additional grab samples. The six samples returned between 0.04 and 2.43 percent nickel and between 0.01 and 0.43 percent copper. At the JJ gold showing, ASX’s samples returned values ranging up to 879 ppb gold.

ALX received permits for its 2021 exploration program that included ground surveys and diamond drilling. In partnership with Rio Tinto, the company completed the drilling program on August 3, 2021. The permit remains effective until September 2022.

Vixen Gold

Vixen Gold

The 100 percent owned Vixen gold project is located in the Red Lake Mining District of Ontario and consists of three sub-projects totaling 10,069 hectares staked within the Birch-Uchi greenstone belt, approximately 60 kilometers east of the town of Red Lake, Ontario. The jurisdiction is favourable for exploration, with winter access to Vixen North and a series of roads leading directly to the Vixen South property.

Using the latest imaging technology, ALX carried out a high-resolution airborne magnetic and VLF-EM survey that has collected preliminary data defining an approximate 3,000 meter-long high magnetic trend in conjunction with the newly-identified Vulpin Zone. Additional samples were collected in October 2020 along the iron formation associated with gold mineralization that was mapped in August 2020. ALX’s 2020 rock sampling at the Vulpin Zone showed values of up to 8.41 g/t gold.

Other prospecting targets at Vixen include detailed follow-up of gold mineralization found within a fluorite occurrence southeast of the Vulpin Zone that may represent a genetic phase of porphyry-hosted gold deposition. Recent sampling at the Dickenson Zone located rock samples ranging up to 17.7 g/t gold.

Flying Vee Nickel Project

Flying Vee Project

Like the Firebird nickel project, the Flying Vee nickel project in Saskatchewan is highly-prospective for nickel-copper-cobalt, and hosts a gold showing. Flying Vee is located north of Stony Rapids in an underexplored district with high potential for discovery. With neighboring projects held by companies like Kobold Metals and UEX Corporation, a staking rush occurred in the Spring of 2019. In July 2020, ALX was the first company since 1988 to prospect the Day Lake gold showing at Flying Vee, and samples up to 8.34 g/t gold were found.

Gibbons Creek Uranium

Gibbons Creek Project

ALX Resources completed a diamond drilling program in the Northern Athabasca Basin, near Stony Rapids, SK. The program comprised three holes, completed for a total of approximately 1240 meters, atop two previously untested anomalies. In March 2022 the company prepared trails and drill pads along the Zinger and Eclipse geophysical conductors, detected in historic airborne surveys.

Drill hole GC22-01, along the southwestern portion of the Zinger Conductor, intersected, high in the sandstone column, mineral alteration including pyrite, siderite, and bleaching, and low angle to core axis fracture zones that suggest a steep-dipping structure may project to the sub-Athabasca unconformity at an approximate downhole depth of 345 metres. Follow-up drilling in the area will be dependent upon the interpretation of the pending geochemical results.

Drill hole GC22-02 tested the northeast section of the Zinger trend. It revealed discrete elevated gamma probe peaks that occur between 293.7 and 300.9 metres. Geochemical analysis of the samples collected over these horizons will help to determine the significance of these peaks. The basement rocks included variably garnetiferous psammitic to psammo pelitic gneiss, quartz-feldspar rich units of unknown origin, and garnet-rich pelitic gneiss. Follow-up drilling will depend on interpretation of the pending geochemical results.

Management Team

Warren Stanyer - Chairman and CEO

Warren Stanyer has over 24 years of experience in the mineral exploration industry, focused mostly on uranium in the Athabasca Basin. Stanyer began his career with Pioneer Metals, a diverse explorer for gold, base metals, and uranium, with properties in New Mexico, British Columbia, Manitoba, and Saskatchewan. After gaining over a decade of experience, Stanyer accepted the role of president and CEO of Northern Continental Resources, a junior exploration company focused on uranium in the Athabasca Basin. He steered the successful sale of the company in 2009 to Hathor Exploration, in competition with Denison Mines.

Stanyer became chairman of Guyana Frontier Mining in December 2010; and, during his tenure, served as president and CEO. As a director of Alpha Minerals, a predecessor company of ALX, and following the Patterson Lake uranium discovery in 2012. Stayner served as chairman of the special committee in 2013 during the acquisition of the company by Fission Uranium, subsequently serving as a director of fission until 2014. Currently, Stanyer serves as president, CEO, and director of Nevada Sunrise Gold, a junior exploration company focused on gold, copper, cobalt, and lithium in Nevada. He is also a director of New Moon Minerals, a private mineral exploration company.

Patrick Groening - CFO

Patrick Groening’s previous roles with public companies include more than nine combined years serving as CFO for both Strathmore Minerals and Fission Energy. He filled the same role for Jalna Minerals, Sernova, and Papuan Precious Metals, and performed dual roles of CFO and corporate secretary For Wolf Capital and Pacific Asia China Energy.

Sierd Eriks – Technical Advisor

Sierd Eriks has worked in mineral exploration for over 35 years, with a focus on uranium exploration for the past two decades. From 1979 to 1998, he gained geological and managerial experience with major mining companies, including Saskatchewan Mining and Development, now Cameco, Falconbridge, Noranda Exploration, and Cogema Resources, now Orano Canada, working in base metals, gold, platinum group metals, and uranium exploration.

In 1999, he became a consulting geologist and worked on numerous uranium exploration programs in the Athabasca Basin. Prior to joining ALX, he was vice president of exploration with UEX from 2007 to 2014. In this position, Eriks managed projects with annual exploration budgets of up to C$29 million, and directed drilling programs leading to the establishment of mineral resources for three uranium deposits in the eastern Athabasca Basin in Northern Saskatchewan.

Christina Boddy – Corporate Secretary

Christina Boddy is a member of the Canadian Society of Corporate Secretaries and has acted as corporate secretary for a number of public companies in recent years. Boddy worked at Levon Resources, Nevada Sunrise Gold, Aton Resources, and Resinco Capital Partners during her tenure. Boddy acts as a consultant to public and private companies, through Rhodanthe Corporate Services, a private company based in BC.

David Quirt – Technical Advisor

David Quirt is a consulting geoscientist residing in Saskatchewan with 45 years of geological, mineral exploration, and research and development experience, both in the consulting sector and within the mineral exploration industry. His applied science career has been primarily in economic geology, in areas such as uranium, diamonds, gold, base metals, rare earth elements (REE), uranium deposit metallogenesis, geochemistry, and host-rock alteration mineralogy. Throughout his career, Quirt has been a highly-sought speaker at numerous scientific conferences and corporate presentations. He has authored and co-authored technical reports, journal papers, and conference-extended abstracts resulting from his extensive science work.

*Disclaimer: This profile is sponsored by ALX Resources ( TSXV:AL ). This profile provides information which was sourced by the Investing News Network (INN) and approved by ALX Resources in order to help investors learn more about the company. ALX Resources is a client of INN. The company's campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with ALX Resources and seek advice from a qualified investment advisor.

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ALX Resources

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