ALIX ACQUIRES YUKON PROPERTY ADJOINING UNDERWORLD’S WHITE GOLD PROJECT


Alix Resources Corp. has acquired lode quartz mineral claims adjacent to the White Gold property held by Underworld Resources located in the Yukon. The Alix claims are tagged directly to the east of the Underworld Resources Inc., Cathy 150 and Cathy 148 quartz mineral claims and approximately four kilometres from Underworld’s recently announced discovery of 103 metres of 3.4 grams per tonne Au. Underworld is exploring sediment and vein-hosted gold targets at the 169-square-kilometre (845-claim) White Gold property. Alix’s approximate 500-hectare property has now been completely ring-staked by Underworld, and from GSC mapping by Gordey and Ryan, the Alix claims appear to host similar metasedimentary stratigraphy as the Underworld White Gold property.

The company will continue to seek additional claims in the area. Alix is also considering its options with regards to the previously announced private placement (May 26, 2009).

Alix will pay the vendor, Blair Naughty, $75,000 cash, 700,000 shares of Alix plus a 3-per-cent net smelter royalty with an option to buy back 1 per cent for $1-million. The company also agrees to spend $250,000 over the next 12 months as a work commitment. This transaction is subject to TSX Venture approval.

Alix will be mobilizing a field crew to the property within a couple of weeks to begin a systematic geological and geochemical survey of the claim block. This work will include detailed silt sampling of streams draining the property, along with rock sampling and geologic mapping. Alix Resources geologists are very familiar with working in the Tintina gold belt. The technical contents of this release were approved by Alix advisory board member and qualified person as defined by National Instrument 43-101, Dr. Tom McCandless, PGeo, For further information we invite you to visit the company’s website.

Be Sociable, Share!

, , , , , ,

Comments are closed.