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ALX Uranium reports Newnham Lake radon and gravity highlights, anticipates 2016 drilling

by Greg Klein | November 19, 2015

Active in a number of projects in one of the Athabasca Basin’s most prospective portfolios, ALX Uranium TSXV:AL released radon and gravity survey results on November 19 for Newnham Lake, a 24,544-hectare property on the Basin’s northeastern margin. A summer program of 454 radon stations and 418 gravity stations found a quasi-linear radon anomaly about 100 metres by 750 metres associated with a north-south trending fault that crosscuts a conductor and coincides with a gravity low.

ALX Uranium reports Newnham Lake radon and gravity highlights, anticipates 2016 drilling

The radon anomaly was found less than a kilometre from two historic holes that revealed basement uranium assays up to 0.27% U3O8 over 0.13 metres and 0.09% over 0.5 metres.

Newnham’s conductive trend extends approximately 15 kilometres in length, or 25 kilometres when accounting for folding. That’s about equal to the distance encompassing the Patterson Lake South, Arrow and Spitfire discoveries. Previous work on Newnham was carried out largely before basement-hosted unconformity-style deposits were fully understood.

Now integrating recent results with historic data, the ALX team anticipates drilling Newnham next year.

West of Newnham, ALX has winter drilling planned for Gibbon’s Creek, where the company announced encouraging gravity results last week. Two days earlier ALX reported a just-completed drill program at Kelic Lake on the Basin’s south-central rim. While assays are pending, initial results confirm geophysical targets and warrant more drilling, the company stated.

A combination of Lakeland Resources and Alpha Exploration that won overwhelming shareholder approval last September, ALX holds additional drill-ready targets in the Basin. Carter Lake and Hook Lake host about 15 kilometres of untested corridors on strike with PLS, Arrow and Spitfire. Others include Lazy Edward Bay, a 60% interest in Carpenter Lake and an 80% share of Gorilla Lake.

Read more about ALX Uranium.

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