by Greg Klein | November 10, 2015
With Kelic Lake’s autumn drill campaign just wrapped up, ALX Uranium TSXV:AL now intends to exercise its 100% option and purchase the property outright. Initial findings from this season’s six-hole, 1,924-metre campaign confirm geophysical targets and show further drilling will be “necessary and warranted to follow up these results and completely test the target corridor both across and along the Mirror River oxbow plain.”
While assays are pending, the program confirms the target of a large gravity low overlapping northeast-trending conductors, ALX stated. Core shows “extensive bleaching, desilicification and faulting of the Athabasca Group sandstone, strong hematization of the sandstone just above the unconformity and the intersection of a wide graphitic metapelite in the basement rocks—all excellent indicators of the potential for a nearby uranium mineralizing system.”
The 10,056-hectare property straddles the Athabasca Basin’s southwestern rim, about 65 kilometres east of Patterson Lake South’s Triple R deposit and 50 kilometres east of Highway 955. Depth to the basement unconformity ranges from 175 metres to 183 metres. “Overall, paleoweathering at the unconformity is well developed, up to 23 metres thick in select drill holes,” ALX added.
This year’s program “has only begun to test the exploration potential of the Kelic Lake property, which remains vastly underexplored.”
On the opposite side of the Basin, the company began a ground gravity survey last week at Gibbon’s Creek, where last winter’s drilling revealed anomalous radioactivity and/or pathfinder geochemistry in two target areas. Surveys conducted last summer expanded the property’s radon anomaly to about 1,200 metres by 500 metres, in an area that hosts some of the Basin’s highest radon measurements and coincides with a DC-resistivity low.
Following overwhelming shareholder approval to combine Lakeland Resources and Alpha Exploration, ALX holds a number of drill-ready projects in one of the Basin’s largest portfolios. The Carter Lake and Hook Lake properties host approximately 15 kilometres of untested corridors on strike with the PLS, Arrow and Spitfire discoveries.
Other ALX frontrunners include Lazy Edward Bay, Newnham Lake, a 60% interest in the Carpenter Lake joint venture and an 80% share of the Gorilla JV.