Alix Receives Permits to Drill Historical Lithium Resource at Jackpot Lithium Property, Ontario

July 19th, 2016, Vancouver, BC, Canada – Alix Resources Corp (TSXV:AIX) announces the Ontario Ministry of Northern Development and Mines (MNDM) has granted drill permits for the Company’s Jackpot Lithium property (“Jackpot Property”) located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario. It is anticipated that drilling will commence shortly to confirm the historic drilling and the continuity and extent of the near surface No. 1 zone, with the ultimate goal directed towards defining a NI43-101-compliant resource estimate.
President and CEO Michael England commented, “Our exploration program is targeting ground with historical drilling and exploration; that coupled with our own exploration work on the property provides us with a clear direction for leveraging our drilling dollars to achieve maximum results from this program. It is the Company’s goal to begin proving up, and working to expand historic lithium resources at Jackpot.”
The Jackpot lithium deposits was described by E.G. Pye in a 1965 report published by the Ontario Depart. of Mines on the Georgia Lake Area. The deposits were tested by a total of 32 holes drilled in 1955 by Ontario Lithium Company Limited and its associated company Conwest Exploration Co. Ltd. The drilling confirmed the presence of at least two spodumene-bearing pegmatite bodies, one at the surface (No. 1) and the other (No. 2) lying directly beneath the No. 1 deposit. Historical resources at Jackpot, comprising only the No. 2 Dyke pegmatite zone, was reported as 2Mt @ 1.09 Li2O estimated in 1956 by Ontario Lithium Company Limited*. The No. 2 pegmatite dyke, which was discovered by diamond-drilling, was intersected at 30 to 100 meters intervals over a strike length of 215 meters and at 30-60 meters intervals over a distance of 365 meters across strike. Dyke No. 2 is 4 to 20 meters thick, averaging 11 meters.
*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
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