- ALX Resources Corp. (AL) has completed the inaugural drilling program at its Electra Nickel Project located 35 kilometres northwest of Thunder Bay, Ontario
- The company has the right to earn a 100 per cent interest in Electra according to the terms of an option agreement signed in December 2020
- The 2022 exploration program began in mid-March 2022 with the opening of winter trails and mobilization of a diamond drill to the drill sites
- Six of the eight planned holes were completed for a total of 1,155 metres drilled
- ALX Resources Corp is a mineral exploration company focused on uranium, energy and gold
- At 2 PM ET, ALX Resources Corp. was unchanged, trading at $0.045 per share
ALX Resources (AL) has completed the inaugural drilling program at its Electra Nickel Project located 35 kilometres northwest of Thunder Bay, Ontario, Canada.
The company has the right to earn a 100 per cent interest in Electra according to the terms of an option agreement signed in December 2020.
The 2022 exploration program began in mid-March 2022 with the opening of winter trails and mobilization of a diamond drill to the drill sites.
The network of established forestry roads within Electra provided good access to the target areas and six of the eight planned holes were completed for a total of 1,155 metres drilled.
Two targets remain undrilled because of warming weather conditions that exposed creeks and other wetlands, which impeded surface access.
Drill core logging indicates that the immiscible magmatic sulphide segregation process is present at Electra.
Sulphide mineralization was intersected in all six holes, mainly pyrite, pyrrhotite, chalcopyrite and sphalerite within mafic/ultramafic rocks, volcanic breccia and intermittent graphitic shale zones.
Rare spherical concentrations of pyrite were observed in several zones in hole ELEC22-02 that suggest the hole could lie proximal to a volcanogenic massive sulphide (VMS) vent.
Other alteration minerals were observed such as fuchsite, and possible vaesite and violarite. A portable X-ray fluorescence (XRF) device indicated the presence of nickel, copper and zinc in the drill core.
A total of 477 samples from the first four holes have been shipped to ALS Global Laboratories in Thunder Bay, Ontario. Logging and sampling of the final two holes continue and an estimated 200 additional samples will be shipped in the coming weeks.
Electra is located near Thunder Bay, Ontario, in a fertile exploration district well-linked to highways, roads and trails, and lies near a powerline and the Canadian National Railroad.
ALX Resources Corp is principally engaged in the acquisition, exploration, and development of mineral properties which consist of uranium, energy and gold.
At 2 PM ET, ALX Resources Corp. was unchanged, trading at $0.045 per share.
