Alix Resources Corp.: Initial Sample Results on the Preissac – La Corne Properties, Return up to 2.86 wt % Li2O
July 28, 2016 (Source) — ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased to report the results from its due diligence program on three properties of the Company’s large Preissac-La Corne portfolio in the Abitibi Greenstone Belt of Quebec. As previously reported (PR of July 6, 2016) a total of 12 granitic pegmatite samples were collected from the properties and submitted to ALS Chemex for assaying. Lithium oxide (Li2O) varied from 0.01% to 2.86 wt. %. Alix Resources claims are located near the past producing Quebec Lithium Mine which was recently purchased by the Chinese-based Jilin Jien Nickel Industry Co. (“Jilin”).
- International Lithium Property – Mineralization consists of spodumene-rich sub-horizontal, irregular dikes located in Figuery township (NTS 32D08). Surface samples were collected and returned an average of 2.41 % Li2O with above-limit tantalum concentrations (>100 ppm) as well. Historic drilling carried out by International Lithium Corp. in the 1950s, delineated a 3.7-metre-thick, 119 by 104 m area providing a historical resource estimate of 135,000 t at 0.95 wt. % lithium oxide (Li2O) (source: RP 446; MERQ).*
- Duval Lithium Property – Situated in the La Motte township (NTS 32D8), the Duval property mineralization is contained within two granitic pegmatite dikes (182 to 259 m long by two to three m- thick), rich in spodumene (Li) with accessory tantalite (Ta) and Beryl (Be). Collected surface samples averaged 0.43 wt. % Li2O with values ranging from 0.02 wt. % to 0.82 wt. % Li2O. The Duval property area has a historical resource estimates were 75,000 t at 1.45 wt. % Li2O (source: RG160; MERQ).*
- La Motte Lithium Property – Geological reports on the property located in the La Corne township (NTS 32D08), indicate granitic pegmatites dikes, 0.60 to 1.20 m thick, containing 15 to 30 % spodumene accompanied by beryl. Historical diamond drilling generated key assays of 1.65 wt.% Li2O /1m, and 1.12 wt. % Li2O/1.32 m, respectively (source: GM 03089; MERQ). Selected surface samples show values ranging from 0.65 wt. % to 1.58 wt. % Li2O with an average of 1.22 wt. % Li2O.
Mike England, President and CEO of Alix Resources, commented, “We are pleased to receive confirmation of the strong lithium values from the three properties sampled. The Company is looking forward to complete more extensive exploration activities on this large claim group in the Preissac-Lacorne area of Quebec, one of the world’s most productive terranes for Li ± Ta ± Be mineralization”.
The technical contents of this release were approved by Michel Boily, PhD, P.Geo a Qualified Person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
Alix Resources is a junior mining exploration company focused on seeking and acquiring lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company. The Company now has active lithium projects in Nevada, Mexico and Ontario.
*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
ON BEHALF OF THE BOARD
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Michael England, President, CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
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