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ALX Uranium announces 2016 exploration plans in Athabasca Basin, Saskatchewan

EBR Staff Writer Published 22 January 2016

ALX Uranium is pleased to announce that its Board of Directors has approved programs and budgets for surface exploration in the winter and summer of 2016 at five projects within the Athabasca Basin in northern Saskatchewan .

The Company continues to evaluate three high priority targets for follow-up diamond drilling this winter. In the meantime, management will execute plans for the approved surface exploration programs, including:

Hook-Carter Property: A ground Moving Loop Time Domain Electromagnetic (MLTDEM) survey to define deep conductors in the Patterson Lake and Carter Lake Corridors. The planned work is along strike of Fission Uranium Corp.'s Triple R uranium deposit, NexGen Energy Ltd.'s Arrow Zone and the Spitfire Discovery of Purepoint/Cameco/AREVA. The Patterson Lake conductive corridor has demonstrated the potential for world class discoveries within 10 km to the southwest.

Gorilla Lake Property: A ground gravity survey to cover two targets: the untested northeast and southwest strike extensions of the main northeast-striking conductive trend at Gorilla Lake, where the Company intersected basement-hosted uranium in 2008, and a coincident airborne electromagnetic Ad Tau and magnetic "button" anomaly approximately 1500 metres south of Gorilla Lake. The Gorilla Lake Property is located within the Carswell Impact Structure, and is approximately 10 km north of the past-producing Cluff Lake uranium mine which operated from 1980 to 2002.

Lazy Edward Bay Property: A radon-in-lake survey to extend to the northeast a previous survey carried out in 2014. The Lazy Edward Bay Property is located in the southeastern Athabasca Basin, close to the regional Cable Bay shear zone, and approximately 60 km east of Cameco and JCU's Millennium uranium deposit.

Perch Property: A ground gravity survey to cover a 4 km long conductor and coincident magnetic low. The Perch Property is located along the northeastern margin of the Athabasca Basin; uranium targets are at shallow depth, and there is easy access from the nearby community of Stony Rapids.

Newnham Lake Property: A ground Moving Loop Time Domain Electromagnetic (MLTDEM) survey to define conductive targets in the southwestern portion of the property. The Newnham Lake Property is located along the northeastern margin of the Athabasca Basin; a 25 km-long conductive corridor of shallow uranium targets in the northeastern portion of the property was explored extensively in the 1970s, prior to the development of current basement-hosted, structurally controlled uranium deposits in the Athabasca Basin.




Source: Company Press Release