Alix Resources Corp.

Published : January 31st, 2011

Acquires Yukon Gold, Silver and Base Metal Properties From Strategic Metals Ltd.

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Keywords :   Molybdenum | Tungsten |

 

Alix Res. acquires yukon gold silver and base metal properties from strategic metals ltd.

 

 

 

 

 

January 31st, 2011, VANCOUVER, B.C. ALIX RESOURCES CORP. (“Alix” or the “Company”)(AIX-TSX:V)(37N – FRANKFURT) is pleased to announce that an option agreement  has been signed with Strategic Metals Ltd. (SMD-TSX:V) to earn a 100% interest in a portfolio of five properties located in Yukon Territory. The Hartless Joe, Byng, Meloy, Corky, and Vault properties are enriched in a broad range of metals, especially gold.

The Hartless Joe and Byng properties are 28 and 44 kilometers northeast of Whitehorse, respectively and both host low sulfidation epithermal gold-silver vein systems developed in mafic and felsic volcanics and associated sedimentary rocks of the Stikine Terrane. Previous grab sampling from mineralized veins conducted on behalf of ATAC Resources Ltd. (ATC-TSX:V) in 2004 returned grades of 0.8 to 251 g/t (grams per tonne) gold and from 13.5 to 5,780 g/t silver. Hartless Joe totals 1,000 hectares under claim and features numerous undrilled soil geochemical and geophysical targets. Byng has 405 hectares under claim, and it also features several geochemical anomalies that have not been tested by drilling.

Corky is located 125 kilometers northwest, and Meloy is located 80 kilometers north-northwest, of the community of Haines Junction. Both are copper-gold prospects with potential molybdenum (Corky) and tungsten (Meloy) credits. They are both porphyry targets associated with high level granitic intrusions. The 750 hectare Corky property has seen limited geophysical surveys and drilling, with eight drill holes totaling only 800 meters. Meloy covers 850 hectares, and has not been drill tested. Both properties warrant detailed soil geochemical sampling and geophysical surveys to define targets for drill testing.

Vault is another gold prospect, located 140 kilometers northwest of Haines Junction. It covers 3,650 hectares in Wrangellia Terrane. The Vault property hosts numerous high gold (200 ppb to over 10,000 ppb Au) soil anomalies, the distribution of which suggests that the source could be a stacked sequence of thrust faults cutting Permo-Triassic metasedimentary rocks over 12 kilometers of strike length. No detailed geophysical surveys or drilling have been carried out on the Vault property.

To earn 100% of the five properties Alix will issue 9.9% of its outstanding share capital to Strategic and make cumulative cash payments totaling $3,000,000 cash over a four year period. Upon earn-in, the properties will be subject to a 2% net smelter return royalty.  Alix will have the option to buy back 1% for $1,000,000. During the option earn-in period, Strategic shall have the right, but not the obligation, to participate in future Alix equity financings so as to maintain its percentage equity interest in the company.

“We are excited to have Alix, with its team of very qualified geologists, join us in advancing these quality projects.  Exploration in the Yukon is expected to be at record levels this year and we anticipate many new discoveries will be made.” stated Doug Eaton, President and CEO of Strategic Metals Ltd.

“Alix is extremely pleased to be working with Strategic in developing these properties.  There is no question that, as a result of recent discoveries, the Yukon will be the focus of unprecedented interest from mining professionals and the investment community worldwide this coming exploration season. It is our opinion that there will be more discoveries in this region and I believe that, based on the due diligence of our technical staff, we have acquired the best available exploration targets” stated President Michael England.

A finder’s fee will be payable on this transaction.

This transaction is subject to TSX Venture approval.

The technical contents of this release were approved by Dr. Tom McCandless, Technical Advisor to Alix Resources and qualified person as defined by National Instrument 43-101.

Alix Resources is a junior exploration company actively seeking base and precious metal venture opportunities for the benefit of all of its stakeholders.

Strategic Metals Ltd. is an actively managed junior exploration company that follows a multifaceted business model to build value through grassroots project generation and selective drilling aimed at major discoveries.

ON BEHALF OF THE BOARD  
Michael England, President

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Alix Resources, Corp. Actual results may differ materially from those currently anticipated in such statements. 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.

24hGold

www.24hGold.com

 

 

Alix Resources Corp.

EXPLORATION STAGE
CODE : AIX.V
ISIN : CA01642R2019
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Alix Res. is a exploration company based in Canada.

Its main exploration properties are DIVIDE and KAMISHAK in USA and WHITE GOLD, RED DEER LAKE, SASKASHEWAN and ARCADIA in Canada.

Alix Res. is listed in Canada. Its market capitalisation is CA$ 19.5 millions as of today (US$ 15.3 millions, € 13.0 millions).

Its stock quote reached its highest recent level on March 11, 2011 at CA$ 3.00, and its lowest recent point on October 27, 2017 at CA$ 0.03.

Alix Res. has 72 170 000 shares outstanding.

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Financings of Alix Resources Corp.
4/27/2011Announces Closing of Over-Subscribed Private Placement
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6/9/2016ALIX TO COMMENCE SAMPLING PROGRAM ON NEWLY ACQUIRED LITHIUM ...
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5/18/2016Call on partly paid shares LITCC
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3/20/2013High Grade Golden Granite Project Moving Forward
2/19/2013Reports Positive Assays for First Phase of Sampling at Golde...
1/29/2013Completes First Phase of Sampling and Mapping at Golden Gran...
1/16/2013Signs Definitive Agreement for Santa Maria Mine, Site Visit ...
1/8/2013Stakes Additional Land at Golden Granite, Yavapai County, Ar...
11/5/2012Acquires Golden Granite Gold Property, Yavapai County, Arizo...
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9/18/2012Receives Positive Drill Results for the Money Rock / West Po...
7/11/2011Mobilizes Drill to Golden Zone Property, Alaska, for 2011 Pr...
6/14/2011Initiates 2011 Work at Golden Zone Property, Alaska
6/6/2011Caribou Commences Mobilization and Work Programs on Yukon Go...
3/3/2011Signs Drill Contract for 2011 Work at the Golden Zone Proper...
1/31/2011Acquires Yukon Gold, Silver and Base Metal Properties From S...
2/12/2009AND GEO SECURE DRILL PERMITS ON MANITOBA COAL PROPERTY AND A...
11/6/2008and Geo Announce Agreement With NuCoal Energy Corp. For Pros...
7/29/2008ANNOUNCES THE COMPLETION OF FIELD PROGRAM AT FOG LAKE PROSPE...
7/22/2008GEO AND ALIX RESOURCES ANNOUNCE HISTORICAL POTASH HOLE PLUS ...
6/25/2008 gets priority on Saskatchewan coal permits
6/13/2008And Geo Minerals buys potash rights in Saskatchewan
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