by Greg Klein | November 12, 2015
Even with positive results from the just-completed Kelic Lake drill campaign, ALX Uranium TSXV:AL plans to keep a rig busy at its Gibbon’s Creek project this winter. A recent ground gravity survey provides additional encouragement for another round of drilling on the 13,864-hectare property on the Athabasca Basin’s northern rim, the company reported November 12.
At the project’s Centre zone, the survey covered a radon anomaly that hosts some of the Basin’s highest radon readings and was expanded last summer to about 1,200 metres by 500 metres. The gravity survey also ventured south, extending to the site of a previous gravity survey at the South zone last year.
This time the survey found “a saddle-like depression centred within a gravity high located directly beneath the central portions of the radon anomaly,” ALX stated. “Additional distinct and closed gravity lows were identified approximately 500 metres north of hole GC15-03.” Among assays released last May, that hole showed 0.13% U3O8 over 0.23 metres in an interval of 333.8 ppm over 1.1 metres.
At the radon anomaly’s edge, hole GC15-06 found “strongly altered basement lithologies and anomalous geochemical pathfinders within the sandstone and basement,” ALX noted.
Coinciding with the radon anomaly is a DC-resistivity low. With an estimated 40 to 70 metres to the sub-Athabasca unconformity, the company anticipates shallow drilling.
ALX expects to finish the drill program by year-end. Gibbon’s has all-season road access from the town of Stony Rapids, a few kilometres away.
Two days earlier the company announced its intention to exercise a 100% option on Kelic Lake, a 10,056-hectare property on the Basin’s southern margin. The decision followed a six-hole, 1,924-metre autumn campaign that confirmed geophysical targets and found “excellent indicators of the potential for a nearby uranium mineralizing system.”
Gibbon’s and Kelic rank among the standouts of one of the Basin’s largest portfolios, a result of the combination of Lakeland Resources and Alpha Exploration which won overwhelming shareholder approval last September.
Other drill-ready projects include Carter Lake and Hook Lake, two contiguous properties with around 15 kilometres of untested corridors on strike with the Patterson Lake South, Arrow and Spitfire discoveries. Also ready for the rig are Lazy Edward Bay, Newnham Lake, ALX’s 60%-held Carpenter Lake and the company’s 80%-held Gorilla Lake.