ALX Resources stakes Javelin uranium project, Saskatchewan

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ALX Resources Corp. [AL-TSXV; ALXEF-OTC; 6LLN-FSE] has staked the Javelin uranium property in northern Saskatchewan. Javelin consists of nine mineral claims encompassing 23,652 hectares (61,073 acres), located near the eastern margin of the Athabasca basin about 65 km southeast of the McArthur River uranium mine. The Javelin claims are 100%-owned by ALX with no underlying royalties.

Javelin was acquired during a recent staking rush that began in mid-September, 2021. ALX acted quickly to acquire several projects in environments considered favourable for uranium mineralization around the Athabasca basin, before staking activity peaked.

Javelin is located outside of the eastern margin of the Athabasca basin within the central parts of the Wollaston domain basement rocks, which host prolific uranium mines such as Key Lake, McArthur River, Cigar Lake and Rabbit Lake, amongst others. New basement-hosted uranium is actively being explored for around the Athabasca basin, outside the basin edge, where, for example, the Triple R deposit was discovered by a joint venture at Patterson Lake, Saskatchewan, between ALX’s predecessor company, Alpha Minerals Ltd., and Fission Uranium Corp.

Recently, high-grade uranium mineralization has been sampled east of the Athabasca basin, within the vicinity of Javelin, on surface by Valor Resources Ltd., and in an exploratory drill hole on 92 Energy Ltd.’s Gemini project.

ALX is planning a first-pass, high-resolution airborne radiometric survey at Javelin, which may include a coincident airborne electromagnetic survey. The airborne radiometric survey method to be employed by ALX is the same system used to detect buried uranium-bearing boulders at Patterson Lake in 2011, which contributed to the discovery of Triple R in November, 2012.

ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter uranium project, located within the uranium-rich Patterson Lake corridor with Denison Mines Corp. [DML-TSX; DNN-NYSE American, 80%, operating exploration since 2016, a 40% interest in the Black Lake uranium project (a joint venture with UEX Corp. [UEX-TSX] and Orano Canada Inc.), and 100% interests in the Gibbons Creek uranium project, the Sabre uranium project and now the Javelin uranium project.

ALX also owns 100% interests in the Firebird nickel project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee nickel/gold and Sceptre gold projects, and can earn up to an 80% interest in the Alligator Lake gold project, all located in northern Saskatchewan. ALX owns, or can earn, up to 100% interests in the Electra nickel project and the Cannon copper project located in historic mining districts of Ontario, the Vixen gold project (now under option to First Mining Gold Corp. [FF-TSX; FFMGF-OTCQX; FMG-FSE], which can earn up to a 100% interest in two option stages), and in the Draco VMS project in Norway.

 


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