August 26, 2024 7:30 AM EDT | Source: ALX Resources Corp.
Vancouver, British Columbia–(Newsfile Corp. – August 26, 2024) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) (“ALX” or the “Company”) is pleased to announce the successful completion of reconnaissance prospecting and sampling programs on its 100%-owned Cannon Copper Project located in Kamichisitit Township in Ontario, Canada. The Project is situated approximately 35 kilometres northwest of Elliot Lake.
The recent Programs involved collecting mineralized rock samples around known historical copper showings that were discovered and drilled in the 1960s. A total of 22 rock samples were collected, with significant results from a June 2024 grab sample showing 1.44% copper. Results from the August 2024 rock samples are pending. Additionally, the Programs aimed to locate historical drill holes accurately, follow up on previous studies, and conduct Soil Gas Hydrocarbon sampling over an exploration target area identified by Geotech studies.
The AIIP processing algorithm applied to the 2021 VTEM data provided valuable insights, highlighting AIIP effects that correlate with low resistivities in the central region of the Project. The SC study outlined a structurally-complex target area measuring approximately 2.9 square kilometres. These findings were crucial in identifying potential copper exploration target areas for further investigation.
ALX’s geological teams conducted the Programs in June and August 2024, uncovering mineralized zones, locating historical mine workings, and collecting 176 SGH soil samples for analysis. The Company believes that the Cannon Copper area holds promising exploration potential, with the next steps involving the identification of drill targets and application for an exploration permit.
ALX Resources Corp. is focused on exploring various mineral projects in Canada, including uranium, lithium, nickel, copper, and gold properties. The Company aims to provide shareholders with multiple opportunities for discovery by utilizing the latest exploration technologies and exploring over 240,000 hectares of prospective lands in Saskatchewan, a region known for its mineral-rich deposits.
Robust forward-looking statements have been made in this release, outlining the Company’s exploration plans and preliminary results for the Cannon Copper Project. However, actual outcomes may vary, encompassing potential risks such as financing challenges, commodity price fluctuations, and environmental factors. Detailed risk factors are outlined in the Company’s Management Discussion and Analysis report.
