The Vixen Gold Project ("Vixen" or the "Project") consists of three sub-projects totaling 10,008 hectares (27,730 acres) staked within the Birch-Uchi greenstone belt, located approximately 60 kilometres (37 miles) east of Red Lake, Ontario, Canada
Image: ALX Uranium Corp. acquires Vixen Gold Project in Red Lake Mining District, Ontario. Photo: courtesy of Adam Radosavljevic from Pixabay.
ALX Uranium Corp. (“ALX” or the “Company”) (TSXV: AL; FSE: 6LLN; OTC: ALXEF) is pleased to announce that it has agreed to acquire claims prospective for gold mineralization in the Red Lake Mining District of Ontario, Canada. The Vixen Gold Project (“Vixen” or the “Project”) consists of three sub-projects totaling 10,008 hectares (27,730 acres) staked within the Birch-Uchi greenstone belt, located approximately 60 kilometres (37 miles) east of Red Lake, Ontario, Canada. Vixen is owned 100% by the Company, subject to a 2.0% net smelter returns royalty (“NSR”).
ALX agreed to acquire Vixen after its review of historical surface exploration carried out by the Ontario Geological Survey (the “OGS”), and of Province of Ontario assessment records describing gold showings and past-producing mines located near the ALX claims.
“ALX has purchased prospective claims in one of the most iconic gold camps in Canadian mining history,” said Warren Stanyer, CEO and Chairman of the Company. “We plan to apply our geoscientific techniques to an area with little-to-no bedrock exposure. ALX believes that Vixen is on-trend to the numerous gold showings and mines of the eastern Red Lake district, but was obscured from the view of historical explorers.”
Vixen South demonstrates a credible setting for significant gold mineralization. In 1991, pristine gold grains were found by the OGS in till samples collected from Vixen South, which is a possible indication of an on-property source. Vixen South and Vixen West each lie within 10 kilometres (6.2 miles) of past-producing gold mines, and each lie within approximately 25 kilometres (15.5 miles) from the Springpole gold deposit (“Springpole”) owned by First Mining Gold Corp., which hosts an indicated mineral resource estimated at 139.1 million tonnes containing 4.67 million ounces of gold and 24.19 million ounces silver at an average grade of 1.04 grams/tonne gold and 5.4 grams/tonne silver1. Vixen North is located approximately 6 kilometres (4 miles) northwest of Springpole near other high-grade gold deposits and hosts historical showings in surface trenching with gold values ranging up to 9.5 grams/tonne gold.
Source: Company Press Release