- ALX Resources Corp.(AL) has shared results from its Electra Nickel Project in Ontario
- Six of the eight planned holes were completed with showings of gold, silver, copper, nickel, palladium, platinum, and zinc
- Most of the mineralization was found in and around hole Elec 22-06
- However, zinc concentrations were found throughout most of the holes
- Two targets remain undrilled because of rising temperatures which have poorly affected the company’s surface access
- ALX Resources Corp.(AL) is up 12.50 per cent trading at $0.04 per share as of 2:06 p.m. ET
ALX Resources Corp. (AL) has shared results from the maiden drilling program at its Electra Nickel Project in Ontario.
Since the company’s exploration program began in mid-March, six of the eight planned holes were completed over 1,155 metres with showings of gold, silver, copper, nickel, palladium, platinum, and zinc.
Hole Elec22-06 reportedly has the most notable amount of gold with 0.444 grams per tonne and was accompanied by a silver value of 8.33 grams per tonne silver over 0.68 metres.
Additionally, two anomalous copper values were defined in Elec22-05 and Elec22-06.
ALX claims the most notable nickel values occurred within holes Elec22-01, Elec22-02 and Elec22-06. The highest overall concentrations over significant widths occur in the upper half of hole Elec22-02 and Elec22-06 with amounts ranging from 200 to 2,080 parts per million. It believes these intercepts indicate an even larger mineralized system.
ALX stated it found notable concentrations of platinum and palladium values near the end of hole in Elec22-06, where a high of 121 parts per billion platinum and 33 parts per billion palladium were recorded. As a result of these observations, suggestions have been made for the drill hole to be followed up to a greater depth.
Also reported from the latest results were wide intervals of zinc concentrations which occurred in most of the drill holes.
Two targets remain undrilled because of rising temperatures which have impacted the company’s surface access.
ALX Resources Corp.(AL) is up 12.50 per cent trading at $0.04 per share as of 2:06 p.m. ET.