- ALX Resources (AL) has acquired eight additional claims at the Vixen Gold Project in Ontario’s Red Lake Mining District
- The eight claims comprise 162 hectares within the Vixen South claim block
- ALX paid C$2,500 cash and 200,000 common shares to an arm’s-length vendor for a 100 per cent interest in the claims
- The company will pay a 1.5 per cent net smelter returns royalty to the vendor which it can purchase for C$1.5 million
- ALX considers Vixen historically underexplored where areas of limited outcrop have inhibited surface exploration
- ALX provides shareholders with opportunities for discovery through a portfolio of gold, nickel, copper and uranium properties
- ALX Resources (AL) is down 5.26 per cent and is currently trading at C$0.09 per share
ALX Resources (AL) has acquired eight additional claims at the Vixen Gold Project in Ontario’s Red Lake Mining District.
The eight claims comprise 162 hectares within the Vixen South claim block.
ALX paid C$2,500 cash and 200,000 common shares to an arm’s-length vendor for a 100 per cent interest in the claims.
The company will pay a 1.5 per cent net smelter returns royalty to the vendor which it can purchase for C$1.5 million.
The company’s wholly-owned Vixen Gold Project consists of three sub-projects totaling 10,230 hectares staked within the Birch-Uchi greenstone belt. It is located approximately 60 km East of Red Lake, Ontario.
ALX considers Vixen historically underexplored where areas of limited outcrop have inhibited surface exploration.
The company will utilize detailed prospecting, leading-edge geochemical techniques and geophysical surveys to identify new drill targets.
ALX provides shareholders with opportunities for discovery through a portfolio of gold, nickel, copper and uranium properties.
The company holds interests in over 200,000 hectares of prospective lands in Saskatchewan and Ontario.
ALX Resources (AL) is down 5.26 per cent and is currently trading at C$0.09 per share as of 3:38 pm ET.