Source: ALX Resources Corp.
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  • ALX Resources (AL) has acquired the Anchor Lithium Project by staking
  • Anchor lies within the Meguma Terrane of central and western Nova Scotia and consists of 34 mineral licences in two sub-projects totalling 318 km2
  • Anchor is underexplored for lithium-bearing pegmatites, as historical exploration within the area had focused mainly on gold and the mining of tin and other critical metals
  • ALX Resources Corp. (AL) is trading steady at $0.04 per share

ALX Resources (AL) has acquired the Anchor Lithium Project by staking.

Anchor lies within the Meguma Terrane of central and western Nova Scotia and consists of 34 mineral licences in two sub-projects known as “Drake” and “Yankee,” totalling 318 km2. This emerging lithium district hosts the Brazil Lake Pegmatite deposit, located 10 km south of Drake.

Located in an area known to host lithium-bearing pegmatites, Anchor is wholly owned by ALX with no applicable royalties. The newly-staked claims are in good standing until September 2024.

Anchor is underexplored for lithium-bearing pegmatites, as historical exploration within the area had focused mainly on gold and the mining of tin and other critical metals.

A regional review and analysis of Meguma Terrane lake sediment geochemistry identified several areas considered prospective for lithium-bearing pegmatites based on Rubidium and Lithium anomalies recognized in ordinary kriging interpolations of the geochemical dataset.

A private Nova Scotia company had published an NI 43-101 technical report on Brazil Lake dated April 8, 2022, that stated the following calculated mineral resource estimates:

  • Measured and Indicated: (Combined Pit Constrained and Underground Constrained): 553,000 tonnes grading 1.3 per cent Li2O
  • Inferred: (Combined Pit Constrained and Underground Constrained): 381,000 tonnes grading 1.48 per cent Li2O), at a combined cut-off of 0.48 per cent Li2O and 0.98 Li2O

ALX’s CEO and Chairman, Warren Stanyer, said that Anchor is the latest addition to the company’s portfolio of lithium exploration properties in Canada.

“With the growing focus on the search for critical metals such as lithium, ALX is well-positioned in the pursuit of a commodity and type of deposit that was largely ignored by historical explorers.”

The first step for ALX’s exploration at Anchor is to obtain a permit for exploration from the Government of Nova Scotia Department of Energy and Mines. Additional work may include high-resolution airborne magnetic and radiometric surveys together with follow-up geochemical surveys to identify and optimize potential drilling targets.

ALX Resources Corp is principally engaged in the acquisition, exploration, and development of mineral properties which consist of uranium, energy, and gold.

ALX Resources Corp. (AL) is trading steady at $0.04 per share.


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