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Be the first with the news that moves the market- ALX Resources (AL) has contracted Terraquest to carry out a helicopter-borne geophysical survey at its Vixen Gold Project in Ontario
- Scheduled to begin in October, the survey will focus on the Vixen North property, which hosts significant gold mineralisation in surface samples
- The survey plan consist of roughly 476 line-kilometres at 100-metre spacings, focused on defining drill targets along the Vulpin Zone
- In conjunction with the geophysical survey, the company is planning for additional surface exploration work at Vixen North, including prospecting and soil sampling
- ALX Resources (AL) is currently down 7.14 per cent and is trading at 6.5 cents per share
ALX Resources (AL) has contracted Terraquest to carry out a helicopter-borne geophysical survey at its Vixen Gold Project in Ontario.
Located in the prolific Red Lake Mining District, roughly 60 kilometres east of Red Lake, the project consist of three sub-projects totalling 10,069 hectares which are staked within the Birch-Uchi Greenstone Belt.
With the survey scheduled to begin in October this year, Markham-based Terraquest, a leading provider of airborne geophysical services and data processing, will focus on the North Vixen property, which has previously shown significant gold mineralisation in surface samples.
The survey plan consist of approximately 476 line-kilometres at 100-metre intervals, which will aim to define drill targets along the recently identified Vulpin Zone.
Terraquest will collect horizontal Magnetic Gradient Data using advanced positioning and gridding techniques, as well as data from its proprietary digital Very Low Frequency Electromagnetic system.
Radiometric data will also be gathered to expand ALX Resource’s understanding of surface alteration at the Vixen North property.
During the company’s prospecting program in August this year, gossanous and magnetite-bearing host rocks at the Vulpin Zone returned up to 8.41 grams per tonne of gold. ALX Resources says this points to the potential for banded iron formation gold deposits at the Vixen Gold Project.
In addition to the geophysical survey, the company is planning for additional surface exploration work at the Vixen North property during the rest of the 2020 field season. This is expected to include further prospecting, along with soil and lake sediment sampling to better define the surface trace of the Vulpin Zone.
ALX Resources also intends to secure a drilling permit for a proposed program in the winter of next year, which will test prospective target areas.
ALX Resources (AL) is currently down 7.14 per cent and is trading at 6.5 cents per share at 1:26pm EDT.
