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INFINITE ANNOUNCES FLOW THROUGH AND NON-FLOW FINANCINGS
Infinite Lithium Corp. has arranged a non-brokered private placement of up to 10 million flow-through units at a price of eight cents per unit for aggregate gross proceeds of $800,000. Each unit will be composed of one flow-through common share and one-half of one transferable non-flow-through share purchase warrant of the company. Each full warrant will entitle the subscriber to purchase one warrant share for a 24-month period after the closing date at an exercise price of 12 cents per share. Proceeds raised from the FT offering will be used toward drilling, prospecting and other related activities on the company's newly acquired, contiguous properties (collectively named Eastern Vision), located in the Red Lake area of Northwestern Ontario.
In conjunction with the flow-through financing, the company further announces that it has arranged a non-brokered private placement of up to 10 million units at a price of five cents per unit for aggregate gross proceeds of $500,000. Each unit will be composed of one common share and one-half of one transferable share purchase warrant of the company. Each full warrant will entitle the subscriber to purchase one warrant share for a 24-month period after the closing date at an exercise price of 10 cents per share. Proceeds raised from the offering will be used for general working capital and unallocated funds as per Tier 2 status requirements.
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
These offerings are subject to TSX Venture Exchange acceptance.
About Infinite Lithium Corp.
Infinite Lithium is a junior mining exploration company focused on advancing the newly acquired Eastern Vision property, located in the Red Lake area of Northwestern Ontario.
Inching closer ?....
Why U no tell ?
I came here to let YOU know !....
https://www.marketscreener.com/INFINITE-LITHIUM-CORP-49478444/news/Infinite-Lithium-ACQUIRES-DIXIE-3-AND-BEN-LAKE-PROPERTY-IN-THE-RED-LAKE-DISTRICT-CANADA-29720302/
Another possible major play added to ILI
hopefully drilling will prove the value
"Infinite Lithium Corp. has acquired a 100-per-cent interest in a package of two additional strategic claim groups known as the Dixie 3 and Ben Lake properties from Pistol Bay Mining Inc., located in the Red Lake mining district. The Dixie 3 property is approximately 18 kilometers east of the eastern boundary of Great Bear Resources Corp.'s Dixie Project, and approximately 22 kilometers north-east of the active drilling by BTU Metals Corp. on the recently reported TNT volcanogenic massive sulphide (VMS) target. The Ben Lake property is contiguous to the north of the Company's recently acquired "Eastern Vision" properties.
The Dixie 3 and Ben Lake properties are contiguous and comprises 178 single-cell mining claims and 3 boundary cell mining claims, covering approximately 3,680 hectares. Both properties have multiple known VMS mineral occurrences, electromagnetic (EM) and magnetic geophysical anomalies, and favorable alteration patterns. Both properties also have excellent access and logistics from Red Lake or Ear Falls.
The Dixie 3 property hosts the Dixie 3 VMS zone which, to the best of the vendors knowledge, was not assayed for gold. A number of mineralized zones or targets defined by historic diamond drilling, including:
Breccia Zone, with 3.63% Zn over a intercept of 2.0 metres;
Ten Mile Zone, with a 4.0 metre intercept of 1.25% Zn and 0.11% Cu;
Dixie South - West Zone, with a 24 metre intercept of 0.57% Zn and 0.05% Cu;
Dixie South - Central Zone, with 0.95% Zn over a intercept of 18.4 metres;
Dixie South - East Zone, with a 28 metre intercept of 0.50% Zn and 0.04% Cu, including 5.2 metres of 1.9% Zn and 0.11% Cu;
South Zone Vent Breccia, intercept averaging 6.5 metres of 1.96% Zn;
Vent Zone, with a 30.5 metre intercept of 1.1% Zn and 0.08% Cu.
In 2008, Tribute Minerals carried out a Titan-24 DCIP and MT survey over the Dixie 3 area covering approximately one-sixth of the property. The results of the DCIP were filed for assessment work and demonstrated two target areas at depths of between 300 and 600 metres.
The Ben Lake property covers prospective alteration in rock samples favorable for VMS mineralization with a portion of the property and the contiguous "Eastern Vision" property covered by a high resolution VTEM airborne electromagnetic survey, flown in 2017.
The Company is acquiring a 100% interest in the claims comprising the Dixie 3 and Ben Lake properties from an arms-length party through payments of $100,000 cash over a 6-month period and the issuance of 2,000,000 shares. The underlying vendor retains a .5 % Net Smelter Royalty ("NSR") on Dixie 3 which can be bought for $400,000 at any time and a 1.5% NSR on Ben Lake, half of which can be bought back for $400,000 at any time."
That freaking BTU is up 23 % today !....
ILI has yet to catch fire (yet might it not ?)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152717100
nice to know someone exists!! I would hope management will begin the exploration of the property. not sure if they will start in the winter. probably will need to raise money to do a proper job.
Nice work sir - Nice to meet you - Thanks for your dd
Names I've never heard of (except for GBR)
https://www.btumetals.com/core?project=3&gallery#default-1
High 9.50 - Last 7.88
I deliberately have refrained from posting on this site all the
news the company has released re a newproject. Shows that no one cares!!
But 2 new areas of potential gold development are now the main interest of management . At LEAST UNTIL THE LITHIUM MARKET SHOWS SIGNOFICENT RENEWED STRENGTH.
(TSX.V:ILI) is pleased to announce that the Company has acquired 5 claims comprising 80 units and 1,425 hectares, known as the "Eastern Vison" property, approximately 20 kilometers due east of the eastern boundary of Great Bear Resources Corp.'s (TSX.V:GBR) Dixie Project located in the Red Lake District of Ontario. Great Bear is an industry exploration leader with multiple gold discoveries along a 3.2-kilometre stretch of the 18-kilometre-long LP fault target, with a 90,000-metre drill program in progress and fully financed drill program.
The Eastern Vision property straddles a projected east-west feature, interpreted as a fault zone with multiple volcanogenic massive sulphides ("VMS") known to occur north of the Eastern Vision property. The Eastern Vision property is approximately 25 kilometers east-north-east of the active drilling by BTU Metals Corp.("BTU") on the recently reported "TNT" VMS target.
ILI Director Gerhard Jacob, MSc, states: "We are pleased to acquire this strategic property, in a district with an exciting new gold discovery by GBR on the Dixie property, and excellent potential for base and precious metal VMS mineralization. The Company's management and consultants have extensive experience in this area of Ontario and these types of deposits."
The Company is acquiring a 100% interest in the claims comprising the Eastern Vision property from an arms-length vendor through cumulative payments of Cdn $72,000 in cash, and the share issuance of 800,000 shares, over a three (3) year period. The vendor retains a 1.5 % Net Smelter Royalty ("NSR"), 50% of which is purchasable by ILI for $1,000,000 at any time.
Infinite Lithium Corp. (“ILI” or the “Company”) (ILI-TSX:V) is pleased to announce that the Company has acquired a second strategic property, known as the “North Buffy Lake Property” approximately 30 kilometers due east of the eastern boundary of Great Bear Resources Ltd.’s (GBR – TSX:V) Dixie Project located in the Red Lake District of Ontario. The North Buffy Lake property comprises 9 claims totaling 193 units and approximately 3,440 hectares.
The North Buffy Lake property covers a projected major east-west feature, interpreted as a fault zone on the northern portion of the property, and covers a belt of mafic-intermediate volcanics, flanked by felsic-intermediate volcanics, that trends SW-NE across the property. Limited previous exploration on the property had uncovered electromagnetic and magnetic anomalies that warrant further investigation with refined geophysical surveys.
The North Buffy Lake property is approximately 35 kilometers east-north-east of the active drilling by BTU Metals Corp.(“BTU”) on the recently reported “TNT” VMS target, and is contiguous and just east of the recently acquired Eastern Vision property (PR December 2, 2019).
ILI director Gerhard Jacob, MSc, states: "We are very pleased to acquire a second strategic property, with prospective geology for both precious and base metal discoveries, in an active exploration district. The North Buffy Lake property was previously difficult to access, limiting exploration activity but is now cut by recent logging roads. The Company’s management and consultants have extensive experience in this area of Ontario and these types of deposits."
The Company is acquiring a 100% interest in the claims comprising the North Buffy Lake property from an arms-length party through payments of Cdn $121,000 in cash and the issuance of 800,000 shares over a three (3) year period. The vendor retains a 1.5 % Net Smelter Royalty (“NSR”), purchasable by ILI for $1,000,000 at any time./b]
Stuff that dreams are made of.
Based on the last PR from management in December further drilling is being done on the Jack[pot property " during 2018, the Company completed a prospecting and grab sampling program (96 grab samples) over most of the Jackpot Main area, identifying six (6) new areas of evolved surface pegmatite dikes and extending the historically known central Jackpot dikes to the east (+500 metres) and to the west (+400 metres).
Current interpretation of the pegmatite dike system suggests there are at least four approximately east- to west-trending surface LCT pegmatite dikes, each interpreted to extend between 500 and 1,000 metres along strike (open in both directions) and to be as much as 80 metres in width. The terrain north, east, and southeast of the exposed surface dikes is extensively covered with alluvium and till, and is therefore better explored under frozen winter conditions and diamond drilling. Short-hole diamond drilling, along with metallurgical sample drilling, will restart in the new year at the Jackpot Property."
It is possible that a 43-101 of the MAIN OREBODY WILL BE COMPLETED BASED ON THE RESULTS OF THE PROGRAM. While further assys of new areas will follow.
We could see interests by other parties IF the first 43-101 shows substantial volumes of lithium
Highlights from M & A show significant lithium deposits.Management should be close to obtaining a 34/101 compliant size of the lithium deposits
Excerpt from filing
"A total of 15 drill holes, totalling approximately 2,052 metres, have been completed to date and all results are now reported. All but one drill hole (J-18-09) contained significant spodumene-bearing pegmatite intercepts. Locations of the drill holes are designed to support historic drilling results, assist in modelling the orientation of the pegmatites, and provide a more robust understanding of the Property’s potential. Drilling to date confirms the presence of the three pegmatite dykes, one near or at surface and relatively flat-lying (Dyke #1), the second striking approximately east-northeast and dripping shallowly to the northwest (Dyke #2), and a third pegmatite dyke (Dyke #3) below Dyke #2. On November 22, 2018, the Company announced results from its 2018 channel sampling program at Jackpot. To date, the Company’s channel sampling program has generated a total of 26 channel cuts (essentially surface drill holes) from spodumene-bearing pegmatite outcrops (cleared mechanically and washed) over nine cleared areas, comprising 372 individual channel samples (355.40 metres). Channel sample results from channels A3- CH1, CH2, CH3, and A5-CH1 were released previously (see News Release dated August 16, 2018) but are repeated here for completeness of results.
Channel samples were cut through exposed pegmatite at right angles to interpreted strike and importantly represent minimum widths as the channel cuts were not sampled from contact to contact. As winter weather conditions do not allow for further channel sampling, a short hole drilling program is underway, aimed at delineating the geometry of the surface dikes and providing enough information to complete a future mineral resource estimation of the surface dike system. Current interpretation of the pegmatite dike system suggests there are at least four approximately east- to westtrending surface LCT pegmatite dikes, each interpreted to extend between 500 and 1,000 metres along strike (open in both directions) and to be as much as 80 metres in width. The terrain north, east, and southeast of the exposed surface dikes is extensively covered with alluvium and till, and is therefore better explored under frozen winter conditions.
Further significant update of proof of viability assays from ILI.
"Infinite Lithium Announces Additional Drilling Results Including 19.80 Metres of 1.27% Li2o From Jackpot Lithium Project
VANCOUVER, BC / ACCESSWIRE / December 13, 2018 / INFINITE LITHIUM CORP. (“Infinite” or the “Company”) (TSX-V:ILI) (37NN–FRANKFURT) is pleased to announce results from its 2018 diamond drilling program at the Jackpot Lithium Property (the “Property” or “Jackpot”), located in the Georgia Lake Area, Thunder Bay Mining Division, Ontario. The Jackpot is situated about 42 km north-northeast of Nipigon and approximately 105 km east-northeast of the Great Lakes port City of Thunder Bay, Ontario. Highlights from the most recent drilling include:
JS-18-01A: 19.80m at 1.27% Li2O including 7.00m of 1.63% Li2O
JS-18-01B: 14.60m at 1.05% Li2O including 4.00m of 2.09% Li2O
JS-18-02A: 17.20m at 1.24% Li2O including 5.00m of 2.09% Li2O
JS-18-02B: 13.05m at 1.25% Li2O including 2.00m of 2.63% Li2O
JS-18-04A: 19.45m at 0.62% Li2O including 4.00m of 1.71% Li2O
J-18-35: 22.97m at 0.66% Li2O including 4.50m of 1.21% Li2O
J-18-37: 9.27m at 0.82% Li2O including 3.00m of 1.78% Li2O
J-18-38: 9.95m at 0.78% Li2O including 7.00m of 1.06% Li2O
J-18-39: 11.60m at 0.62% Li2O including 5.00m of 1.28% Li2O
J-18-49: 14.00m at 0.61% Li2O including 6.00m of 1.08% Li2O
J-18-52: 22.45m at 1.27% Li2O including 7.00m of 2.27% Li2O
To date, the Company’s two-pronged diamond drilling campaign has seen the completion of 53 drill holes (9,496 metres) in its long-hole program and eight (8) drill holes (298 metres) from its short-hole program. The long-hole program is aimed at surface, near-surface, and deeper Main Zone Dike spodumene (lithium) bearing pegmatites, whereas the short-hole program is focused exclusively on delineating surface and near-surface spodumene-rich LCT pegmatites. Drill core assay results from holes J-17-01, J-18-01 to 25 were previously released (see News Releases dated March 1, April 18, and August 16, 2018).
Michael England, President of Infinite Lithium, commented: "This year’s diamond drilling and exploration program was a great success. Drilling on the Main Zone Dike, which hosts the historical mineral resources, returned notable results, better defining and expanding on the geometry and mineralization in this shallow-dipping dike. As well, the discovery of multiple surface dikes at Jackpot suggests we have the opportunity to develop surface and near-surface mineral resources. The next step is to continue the exploration program with the goal of building resources on the Main Zone Dike and the extensive surface dike system. I am especially excited by the multiple surface dikes which will be better defined by a short hole diamond drilling program and channel sample program. We believe there is an excellent opportunity to add low-cost tonnage to the historic lithium resources at Jackpot. Our proximity to existing infrastructure including roads, ports, electricity, and a skilled workforce bodes very well for the future economics of this project. "
In addition, during 2018, the Company completed a prospecting and grab sampling program (96 grab samples) over most of the Jackpot Main area, identifying six (6) new areas of evolved surface pegmatite dikes and extending the historically known central Jackpot dikes to the east (+500 metres) and to the west (+400 metres).
Current interpretation of the pegmatite dike system suggests there are at least four approximately east- to west-trending surface LCT pegmatite dikes, each interpreted to extend between 500 and 1,000 metres along strike (open in both directions) and to be as much as 80 metres in width. The terrain north, east, and southeast of the exposed surface dikes is extensively covered with alluvium and till, and is therefore better explored under frozen winter conditions and diamond drilling. Short-hole diamond drilling, along with metallurgical sample drilling, will restart in the new year at the Jackpot Property.
Image: https://www.accesswire.com/users/newswire/images/530448/infinite1.png
Surface map of the central area, Jackpot Main property. The currently reported 27 long-hole and 8 short-hole diamond drill hole collars are shown as red circles and blue squares, respectively. The four surface pegmatite dikes (North, Central #1, Central #2, and South) and their interpreted extents are shown in pink, along with the interpreted surface outcropping of the Main Zone Dike (furthest south) [grey=sediments; orange=diabase].
Highlights of drill core assays from the short-hole drilling program, targeting surface and near-surface LCT Pegmatite dikes include:
Image: https://www.accesswire.com/users/newswire/images/530448/infinite2.png
Highlights of drill core assays from the long-hole drilling program, targeting surface, near-surface, and deeper Main Zone LCT Pegmatite dikes include: (J-18-26 to 52)
Image: https://www.accesswire.com/users/newswire/images/530448/infinite3.png
Image: https://www.accesswire.com/users/newswire/images/530448/infinite4.png
Quality Control
Channel samples are delivered to AGAT Laboratories in Thunder Bay, Ontario by one of the project personnel. Following sample preparation in Thunder Bay the samples are shipped to AGAT Laboratories in Mississauga, Ontario to undergo analyses. AGAT Laboratories Ltd. is accredited, for specific tests, to ISO/IEC 17025:2005 standard and is certified to ISO 9001:2015. External quartz blanks and external lithium standards are inserted into the channel sample stream at regular intervals. Samples are prepared by sodium peroxide fusion with analysis by ICP-OES/ICP-MS finish and a detection limit of 10 ppm Li (0.002% Li2O). An ongoing Quality Assurance/Quality Control (QA/QC) program is in place to monitor the results of the blanks and standards against the sample assays. Results of blanks and standards for this program have passed QA/QC review indicating the assay results are accurate and that no contamination has occurred.
Qualified Person
The technical content of this news release were approved by Dr. Scott Jobin-Bevans, P.Geo., a Qualified Person as defined by the National Instrument 43-101. The Property has not been the subject of a National Instrument 43-101 Technical Report.
About Infinite Lithium
Infinite Lithium (TSX-V: ILI) is a junior mining exploration company focused on seeking and acquiring lithium projects globally. Infinite Lithium has four hard rock lithium projects as well as one clay lithium project, all located in North America. While work has been done to advance all five projects, Infinite Lithium’s primary focus is on the Jackpot property in Ontario. The Company is currently building on an historical resource, which is de-risked exploration while defining a surface lithium resource on the Jackpot property. Both targets, new and historical, have produced some exceptional high-grade lithium results hosted by LCT pegmatites.
A VERY significant assay report re Lithium from Jackpot
Kind of surprised that report is on a day the USA Markets are closed but doubt there have been many eyes from there anyway. Actual core drilling is next step and will be started during the winter freeze.
"(TSX-V:ILI) (37NN–FRANKFURT) is pleased to announce results from its 2018 channel sampling program at the Jackpot Lithium Property (the "Property" or "Jackpot"), located in the Georgia Lake Area, Thunder Bay Mining Division, Ontario. Jackpot is located about 42 km north-northeast of Nipigon and approximately 105 km east-northeast of the Great Lakes port City of Thunder Bay, Ontario.
To date, the Company's channel sampling program has generated a total of 26 channel cuts (essentially surface drill holes) from spodumene-bearing pegmatite outcrops (cleared mechanically and washed) over nine cleared areas, comprising 372 individual channel samples (355.40 metres). Channel sample results from channels A3-CH1, CH2, CH3, and A5-CH1 were released previously (see News Release dated August 16, 2018) but are repeated here for completeness of results.
Highlights of channel sample results collected from five (5) cleared areas in the Jackpot Main area:
Image: https://www.accesswire.com/users/newswire/images/528822/infinitelithtable.png
Channel samples were cut through exposed pegmatite at right angles to interpreted strike and importantly represent minimum widths as the channel cuts were not sampled from contact to contact. As winter weather conditions do not allow for further channel sampling, a short hole drilling program is underway, aimed at delineating the geometry of the surface dikes and providing enough information to complete a future mineral resource estimation of the surface dike system.
Michael England, President of Infinite Lithium, commented: "This year's exploration program was a complete success, with the discovery of multiple surface and near-surface pegmatites being a game changer for the development of the Jackpot project. The trenching, channel sampling, and prospecting programs uncovered what appears to be at least four spodumene-mineralized surface dikes that will be the subject of a future mineral resource estimation. Our current exploration program is focused on discovering the extent of these surface dikes through a combination of channel sampling and shallow drilling that will help us understand the length, width, and depth of the surface pegmatite dikes. The grade of the surface mineralization is very encouraging, averaging +1% Li2O with numerous high-grade intercepts of +2% Li2O and individual samples up to 6.85% Li2O. This grade compares very favourably to global hard rock lithium projects and I believe the surface potential at Jackpot is an important differentiator for our project as there is potential to build significant low-cost tonnage at an excellent grade. The next step is to continue the exploration program with a goal of building resources on the multiple surface dikes and the shallow-dipping Main Zone Dike. I am very confident in our ability to build a significant asset at Jackpot which is close to existing infrastructure including roads, electricity, shipping ports, and a skilled workforce."
Image: https://www.accesswire.com/users/newswire/images/528822/infinitelithmap.jpg
Surface map of the central area, Jackpot Main property. The currently reported 25 channel cuts were collected from the eight (8) areas shown as numbered green circles, with the remaining 12 areas shown as numbered blue squares. The four surface pegmatite dikes (North, Central #1, Central #2, and South) and their interpreted extents are also shown (pink), along with the interpreted surface outcropping of the Main Zone Dike (furthest south). [grey=sediments; orange=diabase]
Current interpretation of the pegmatite dike system suggests there are at least four approximately east- to west-trending surface LCT pegmatite dikes, each interpreted to extend between 500 and 1,000 metres along strike (open in both directions) and to be as much as 80 metres in width. The terrain north, east, and southeast of the exposed surface dikes is extensively covered with alluvium and till, and is therefore better explored under frozen winter conditions.
All channel sample results collected from eight (8) cleared areas in the Jackpot Main area:
Image: https://www.accesswire.com/users/newswire/images/528822/infinitelithtable1.png
*previously reported
All channel sample results collected from eight (8) cleared areas in the Jackpot Main area (cont.):
Image: https://www.accesswire.com/users/newswire/images/528822/infinitelithtable2.png
Quality Control
Channel samples are delivered to AGAT Laboratories in Thunder Bay, Ontario by one of the project personnel. Following sample preparation in Thunder Bay the samples are shipped to AGAT Laboratories in Mississauga, Ontario to undergo analyses. AGAT Laboratories Ltd. is accredited, for specific tests, to ISO/IEC 17025:2005 standard and is certified to ISO 9001:2015. External quartz blanks and external lithium standards are inserted into the channel sample stream at regular intervals. Samples are prepared by sodium peroxide fusion with analysis by ICP-OES/ICP-MS finish and a detection limit of 10 ppm Li (0.002% Li2O). An ongoing Quality Assurance/Quality Control (QA/QC) program is in place to monitor the results of the blanks and standards against the sample assays. Results of blanks and standards for this program have passed QA/QC review indicating the assay results are accurate and that no contamination has occurred.
Qualified Person
The technical content of this news release were approved by Dr. Scott Jobin-Bevans, P.Geo., a Qualified Person as defined by the National Instrument 43-101. The Property has not been the subject of a National Instrument 43-101 Technical Report.
About Infinite Lithium
Infinite Lithium (TSX-V: ILI) is a junior mining exploration company focused on seeking and acquiring lithium projects globally. Infinite Lithium has four hard rock lithium projects as well as one clay lithium project, all located in North America. While work has been done to advance all five projects, Infinite Lithium's primary focus is on the Jackpot property in Ontario. The Company is currently building on an historical resource, which is de-risked exploration while defining a surface lithium resource on the Jackpot property. Both targets, new and historical, have produced some exceptional high-grade lithium results hosted by LCT pegmatites.
Here we GO!!
Management’s M&A has been filed. VERY promising results from Jackpot Lithium Property. I urge all interested investors to read the Sedar report.
Of interest is the excerpts showing a third,previously unknown zone of lithium, discovered!!
“ On April 18, 2018, the Company announced further drill results from holes J-18-06 through 15 of the ongoing Phase 1 drilling program which began in December 2017. A third lithium-bearing pegmatite zone has been discovered (drill hole J-18-13: 3.02% Li2O from 232.65-237.65m) which will be targeted as part of the current drilling program Results from the Phase 1 drilling program are being used to guide future drilling and to complete a National Instrument 43-101 Technical Report and Mineral Resource Estimation.
A total of 15 drill holes, totaling approximately 2,052 metres, have been completed to date and all results are now reported. All but one drill hole (J-18-09) contained significant spodumene-bearing pegmatite intercepts. Locations of the drill holes are designed to support historic drilling results, assist in modeling the orientation of the pegmatites, and provide a more robust understanding of the Property’s potential. Drilling to date confirms the presence of the three pegmatite dykes, one near or at surface and relatively flat-lying (Dyke #1), the second striking approximately east-northeast and dripping shallowly to the northwest (Dyke #2), and a third pegmatite dyke (Dyke #3) below Dyke #2”
Significant drilling has been done since this report was completed and, hopefully, new assays should be coming soon.
Remember assays PROVE the value of this the property.
/b]
Continuing Great assays- when will Market recognize value?
INFINITE LITHIUM ANNOUNCES CHANNEL AND DRILL RESULTS FROM JACKPOT LITHIUM PROJECT
Infinite Lithium Corp. has released drill core assay results from its continuing exploration program (prospecting, mapping, trenching/channel sampling and drilling) at the Jackpot lithium property, located in the Georgia Lake area of the Thunder Bay mining division, Ontario. The Company is currently drilling hole 39 (J-18-38) of a +42 hole (+7,100 metre) program targeting multiple spodumene-bearing dikes in the Jackpot Main area. Drill core results from holes J-17-01 and J-18-01 through 14 have been released (see news releases, March 3, 2018 and April 18, 2018).
Michael England, President of Infinite Lithium, commented: "Surface prospecting, geological mapping and trenching continues to uncover new spodumene-bearing pegmatites and contribute to the geologic model, with results to be incorporated into a future NI 43-101 mineral resource estimation. All our drilling to date has focused on the Main Jackpot area with a goal of building lithium resources on a minimum of two dike systems. Prospecting and trenching indicate an extensive surface pegmatite field with good continuity along strike and wide exposures of spodumene-bearing pegmatite. This surface target could make for an excellent future low-cost mining scenario. At the same time our drilling program continues to intersect and delineate the Main Jackpot pegmatite (Dike #2) which comes to surface and dips at about 30 degrees northwestward. The exploration team is currently detail channel sampling more than ten targets outside of the Main Jackpot area and continues to make new pegmatite dike discoveries across the Jackpot Property. Recent channel sample results from the Main Jackpot area returned intercepts with excellent grades of up to 3.35% Li2O over 2 metres."
Channel samples results taken from the Main Jackpot area:
ChannelFrom (m)To (m)Int (m)Li2O (%) A3-CH1 0.00 6.00 6.00 1.03 incl. 3.00 6.00 3.00 1.77 A3-CH2 0.00 8.00 8.00 1.34 incl. 0.00 1.00 1.00 1.68 incl. 3.00 8.00 5.00 1.80 incl. 4.00 7.00 3.00 2.70 A3-CH3 0.00 10.50 10.50 1.88 incl. 0.50 9.50 9.00 2.19 incl. 1.50 8.50 7.00 2.69 incl. 4.50 6.50 2.00 3.35 A5-CH1 0.00 4.60 4.60 1.09 incl. 2.00 3.00 1.00 1.81
Channel samples were cut through exposed pegmatite at right angles to strike and do not represent contact to contact widths. Further trenching is required to expose the contacts and channel sample lengths will be extended to encompass the entire width of the exposed pegmatite dikes.
Latest assays from the Main Jackpot area diamond drilling program include the following:
Drill HoleFrom (m) To (m)Int (m) Li20 (%) J-18-15 46.00 50.00 4.00 0.92 incl. 47.00 50.00 3.00 1.01 and 52.00 55.18 3.18 1.00 and 61.00 65.33 4.33 1.33 incl. 64.00 65.33 1.33 1.86 J-18-16 no significant intercepts J-18-17 no significant intercepts J-18-18 13.20 19.20 6.00 0.86 incl. 14.20 15.20 1.00 2.25 And 70.70 75.65 4.95 1.07 incl. 72.65 73.65 1.00 1.36 J-18-19 no significant intercepts And J-18-20 26.77 29.50 2.73 1.79 incl. 28.50 29.50 1.00 2.35 and 139.00 140.001.00 0.62 J-18-21 131.29 135.804.51 0.23 and 149.42 154.354.93 0.75 incl. 149.42 150.421.00 1.24 incl. 153.35 154.351.00 1.47 J-18-22 no Samples 151.00needs deepening-- J-18-23 no significant Intercepts J-18-24 13.00 18.00 5.00 1.45 incl. 13.00 16.00 3.00 2.01 incl. 13.00 15.00 2.00 2.82 and 138.00 143.005.00 0.99 incl. 140.00 143.003.00 1.18 J-18-25 118.43 126.267.83 0.38 and 124.43 126.261.83 0.71
Significant intercepts are considered to be intersections of greater than 1.0 metre grading greater than 0.3% Li2O. Although drill holes J-18-16, 17, 19 and 23 did not return significant lithium grades they did contain intercepts of anomalous lithium concentrations. Drill hole J-18-22 was stopped short of its target (Main Zone Dike#2) and is currently be extended.
The Company is well financed to continue the current drilling program and expand the surface exploration program, directed at collecting enough information to complete a maiden National Instrument 43-101 Technical Report and Mineral Resource Estimation, later this year.
The technical contents of this news release were approved by Dr. Scott Jobin-Bevans, P.Geo., a qualified person as defined by the National Instrument 43-101. The Property has not been the subject of a National Instrument 43-101 Report.
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world-class lithium projects globally. Infinite Lithium continues to evaluate suitable prospects that fit the mandate of the company.
ILI's M&A reported today the report discusses all projects but the review of drilling of Jackpot holdings are looking exceptionally promising. The actual hole by hole assays are listed but I cannot copy and past. Go to Sedar for DD.
On January 18, 2018, the Company signed an agreement to acquire a 100% interest in certain claims surrounding its 100% Jackpot Property located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario. The additional land increases the size of the Property to 256 hectares Terms of the 100% acquisition of the new lands call for issuance of 600,000 shares to the vendors plus the granting of a 2% NSR of which the Company may purchase back 1% for $1,000,000. On March 1, 2018, the Company announced initial results from the first 5 drill holes of the ongoing Phase 1 drilling program which began in December 2017. This program is aimed at confirming and expanding on the historical drilling (1955) at the Jackpot Property. Results from the Phase 1 drilling program will be used to guide future drilling and to complete a National Instrument 43-101 Technical Report and Mineral Resource Estimation. Five (5) drill holes, totalling 681 metres, are now available for reporting as follows:
These five drill holes are approximate twins of historic drill holes as follows: J-17-01: twin of historic hole 425; J18-01: twin of historic hole 426; J-18-02: twin of historic hole 427; J-18-03: twin of historic hole 428; J-18-04: twin of historic hole 429. A total of twelve (12) drill holes, totalling approximately 1,700 metres, have been completed to date and results will be released as assays become available. Locations of the Phase 1 drill holes are designed to support historic drilling results, assist in modelling the orientation of the pegmatites, and provide a more robust understanding of the property’s potential. Drilling to date confirms the presence of the two pegmatite dykes, one near or at surface and relatively flat-lying, and the second striking approximately east-northeast and dripping shallowly to the northwest. On April 18, 2018, the Company announced further drill results from holes J-18-06 through 15 of the ongoing Phase 1 drilling program which began in December 2017. A third lithium-bearing pegmatite zone has been discovered (drill hole J-18-13: 3.02% Li2O from 232.65-237.65m) which will be targeted as part of the current drilling program Results from the Phase 1 drilling program are being used to guide future drilling and to complete a National Instrument 43-101 Technical Report and Mineral Resource Estimation.
A total of 15 drill holes, totalling approximately 2,052 metres, have been completed to date and all results are now reported. All but one drill hole (J-18-09) contained significant spodumene-bearing pegmatite intercepts. Locations of the drill holes are designed to support historic drilling results, assist in modelling the orientation of the pegmatites, and provide a more robust understanding of the Property’s potential. Drilling to date confirms the presence of the three pegmatite dykes, one near or at surface and relatively flat-lying (Dyke #1), the second striking approximately east-northeast and dripping shallowly to the northwest (Dyke #2), and a third pegmatite dyke (Dyke #3) below
Finally assay results from drilling at Jackpot!! Confirms
historical findings at Jackpot PLUS a new zone.
INFINITE LITHIUM CORP. (“Infinite” or the “Company”) (TSX-V:ILI) (OTCQB:ARXRF) (37NN–FRANKFURT) is pleased to announce further drill results from holes J-18-06 through 15 of the ongoing Phase 1 drilling program which began in December 2017. A third lithium-bearing pegmatite zone has been discovered (drill hole J-18-13: 3.02% Li2O from 232.65-237.65m) which will be targeted as part of the current drilling program.
Results from the Phase 1 drilling program are being used to guide future drilling and to complete a National Instrument 43-101 (“NI-43-101”) Technical Report and Mineral Resource Estimation.
The most recent ten (10) drill holes (totalling 1,371 metres) are now available for reporting as follows:
Drill Hole From (m) To (m) *Interval (m) %Li2O
J-18-05 1.00 2.50 1.50 1.90
J-18-05 94.50 99.50 5.00 1.03
incl. 97.50 98.50 1.00 1.51
J-18-06 90.00 97.00 7.00 1.60
incl. 92.00 95.00 3.00 2.30
J-18-07 17.00 18.00 1.00 1.02
J-18-08 35.00 43.75 8.75 1.08
J-18-09 minor spodumene-bearing pegmatite/anomalous lithium
J-18-10 74.10 86.10 12.00 0.85
incl. 74.10 78.10 4.00 1.08
J-18-11 80.35 91.00 10.65 1.03
incl. 80.35 82.35 2.00 1.35
J-18-12 73.00 82.00 9.00 1.34
incl. 77.00 78.00 1.00 2.36
incl. 80.00 81.00 1.00 2.39
J-18-13 66.00 70.00 4.00 0.98
incl. 67.00 68.00 1.00 1.49
J-18-13 74.00 75.00 1.00 1.17
J-18-13 232.65 237.65 5.00 3.02
incl. 235.00 236.00 1.00 5.11
J-18-14 85.70 90.60 4.90 1.08
incl. 86.70 87.70 1.00 1.29
*intervals do not represent true widths
A total of 15 drill holes, totalling approximately 2,052 metres, have been completed to date and all results are now reported. All but one drill hole (J-18-09) contained significant spodumene-bearing pegmatite intercepts. Locations of the drill holes are designed to support historic drilling results, assist in modelling the orientation of the pegmatites, and provide a more robust understanding of the Property’s potential. Drilling to date confirms the presence of the three pegmatite dykes, one near or at surface and relatively flat-lying (Dyke #1), the second striking approximately east-northeast and dripping shallowly to the northwest (Dyke #2), and a third pegmatite dyke (Dyke #3) below Dyke #2.
Mr. England, President of Infinite Lithium, commented “The current drilling program identified a third dyke below Dyke #2, with the initial intercept returning high-grade lithium results from what is near-pristine spodumene. This is our first time intersecting Dyke #3 and we will continue to target it in our current drilling program. The discovery of Dyke #3 is significant for us as we hope it will help us build future tonnage at Jackpot and potentially add to increasing the grade from what we have seen in the historical resource estimate. I am very pleased with our results to date and look forward to seeing more from this new discovery and our existing targets as we continue drilling. I look forward to also beginning our summer surface exploration program.”
The historic Jackpot lithium pegmatites were described by E.G. Pye (1965), in a government report published by the Ontario Department of Mines (Georgia Lake Area). In 1955, the LCT pegmatite dykes were tested by a total of 32 drill holes by the Ontario Lithium Company Limited and its associated company Conwest Exploration Company Limited. This historic drilling confirmed the presence of at least two distinct spodumene-bearing pegmatite bodies; one at and near the surface (Dyke #1) and the second (Dyke #2) lying beneath Dyke #1. Dyke #1 was found to be a flat-lying body variably exposed at surface and with thicknesses ranging from 6 to 9 metres. Interpretation to date confirms that Dyke #2 strikes at approximately N65°E and dips 15°-25°NW as reported by Pye (1965). Both the upper Dyke #1 and lower Dyke #2 pegmatites are open towards the east and west and down-dip (northward).
Reported historical mineral resources at Jackpot were calculated on the basis of Dyke #2 and reported as 2 million tonnes @ 1.09% Li2O (estimated in 1956 by the Ontario Lithium Company Limited*). Dyke #2 was intersected by drilling at 30 to 100 metre intervals over a strike length of 215 metres, and at 30 to 60 metre intervals over a distance of approximately 365 metres across strike. The Dyke #2 pegmatite is approximately 4 to 20 metres thick, averaging 11 metres. It should be noted that no evidence exists to suggest that assaying was ever carried out for any elements other than lithium.
*The estimates presented above are treated as historic information and have not been verified by the Company. These Historical Mineral Resources do not refer to any category of sections 1.2 and 1.3 of the National Instrument 43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. A Qualified Person has not yet done sufficient enough work to classify the historical resource estimate as current mineral resources or mineral reserves and should not be relied upon. The Company is not treating the historical estimate as current mineral resources or mineral reserves.
The technical contents of this news release were approved by Dr. Scott Jobin-Bevans, P.Geo., a Qualified Person as defined by the National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Infinite
HERE WE GO! Finall;y significant drilling/assay results!!
"CURRENT DRILLING PROGRAM RESULTS SUPPORT HISTORIC DRILLING: INFINITE LITHIUM INTERSECTS 7.23 METRES OF 2.47% LI2O, INCLUDING 2 METRES OF 4.48% LI2O
March 1st, 2018, Vancouver, BC, Canada – INFINITE LITHIUM CORP. (“Infinite” or the “Company”) (TSX-V:ILI) (37NN–FRANKFURT) is pleased to announce initial results from the first 5 drill holes of the ongoing Phase 1 drilling program which began in December 2017. This program, now on hole twelve, is aimed at confirming and expanding on the historical drilling (1955) at the Jackpot Property. Results from the Phase 1 drilling program will be used to guide future drilling and to complete a National Instrument 43-101 (“NI-43-101”) Technical Report and Mineral Resource Estimation.
Five (5) drill holes, totalling 681 metres, are now available for reporting as follows:
Drill Hole
From (m)
To (m)
Intercept (m)
Li2O (wt%)
J-17-01
31.45
39.00
7.55
1.00
incl.
33.00
34.00
1.00
1.63
incl.
31.45
34.00
2.55
1.33
incl.
35.00
37.00
2.00
1.28
J-18-01
73.00
76.00
3.00
1.22
incl.
74.00
76.00
2.00
1.55
J-18-01
78.00
81.57
3.57
0.86
incl.
80.00
81.57
1.57
1.77
J-18-01
84.00
88.35
4.35
1.18
incl.
85.00
88.35
3.35
1.38
J-18-02
82.00
90.00
8.00
0.78
incl.
84.00
86.00
2.00
1.16
J-18-02
91.00
95.00
4.00
1.04
incl.
93.00
95.00
2.00
1.24
J-18-02
100.00
103.00
3.00
1.15
J-18-03
10.40
12.40
2.00
2.32
J-18-04
2.20
9.43
7.23
2.47
incl.
6.00
8.00
2.00
4.48
J-18-04
166.00
167.00
1.00
1.01
These five drill holes are approximate twins of historic drill holes as follows: J-17-01: twin of historic hole 425; J-18-01: twin of historic hole 426; J-18-02: twin of historic hole 427; J-18-03: twin of historic hole 428; J-18-04: twin of historic hole 429.
Mike England President and CEO of Infinite Lithium commented, “These early drilling results support the historic drill core intercepts reported in 1955-56 from the Property. I am very pleased with these initial results which, in some cases, show even better grade over larger widths than the historic drilling results. All five drill holes intersected greater than 1% Li2O which is an important consideration when one contemplates the economic extraction of lithium from a hard rock deposit.”
A total of twelve (12) drill holes, totalling approximately 1,700 metres, have been completed to date and results will be released as assays become available. Locations of the Phase 1 drill holes are designed to support historic drilling results, assist in modelling the orientation of the pegmatites, and provide a more robust understanding of the property’s potential. Drilling to date confirms the presence of the two pegmatite dykes, one near or at surface and relatively flat-lying, and the second striking approximately east-northeast and dripping shallowly to the northwest.
Mr. England continued, “Our drilling to date, although relatively shallow, has confirmed the presence of the two lithium-bearing pegmatite dykes as was reported from the historic work. In addition to confirming historic drill core assay results we will be completing additional drilling in the current program with the intention of expanding the historic mineral resources, which was based only on one of the two dykes. There are also numerous other pegmatite dykes on the Property which will provide targets in the future surface exploration and diamond drilling programs. We are off to a great start and I look forward to reporting the balance of the drilling results from this ongoing program. Our goal is to build sufficient enough tonnage to issue an NI 43-101 compliant mineral resource estimation as soon as possible.”
The historic Jackpot lithium pegmatites were described by E.G. Pye (1965), in a government report published by the Ontario Department of Mines (Georgia Lake Area). In 1955, the LCT pegmatite dykes were tested by a total of 32 drill holes by the Ontario Lithium Company Limited and its associated company Conwest Exploration Company Limited. This historic drilling confirmed the presence of at least two spodumene-bearing pegmatite bodies; one at and near the surface (No. 1) and the second (No. 2) lying beneath the No. 1 pegmatite. The No.1 pegmatite was found to be a flat-lying body variably exposed at surface and with thicknesses ranging from 6 to 9 metres. Interpretation to date confirms that the lower No. 2 pegmatite strikes at approximately N65°E and dips 15°-25°NW as reported by Pye (1965). Both the upper No. 1 and lower No. 2 pegmatites are open towards the east and west and down dip.
Reported historical mineral resources at Jackpot were calculated on the basis of the No. 2 pegmatite and reported as 2 million tonnes @ 1.09% Li2O (estimated in 1956 by the Ontario Lithium Company Limited*). The No. 2 pegmatite was intersected by drilling at 30 to 100 metre intervals over a strike length of 215 metres, and at 30 to 60 metre intervals over a distance of approximately 365 metres across strike. The No. 2 pegmatite is approximately 4 to 20 metres thick, averaging 11 metres. It should be noted that no evidence exists to suggest that assaying was ever carried out for any elements other than lithium.
*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These Historical Mineral Resources do not refer to any category of sections 1.2 and 1.3 of the National Instrument 43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. A Qualified Person has not yet done sufficient enough work to classify the historical resource estimate as current mineral resources or mineral reserves and should not be relied upon. The Company is not treating the historical estimate as current mineral resources or mineral reserves.
The technical contents of this news release were approved by Dr. Scott Jobin-Bevans, P.Geo., a Qualified Person as defined by the National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Infinite Lithium continues to evaluate suitable prospects that fit the mandate of the Company.
Today's PR has, most importantly,included the notice that the reserve estimates of reserves are NOT 43-101 compliant! The TSX is policing such estimates and has "stop trading" [eg MXL] for not including disclaimers.
The weather in the exploration area has been bitterly cold,so drilling may be slower than anticipated but weather seems to be improving.
Remember the assay results are THE important proof of the value of this project' Keep everything crossed!!
INFINITE LITHIUM CORP. (“Infinite” or the “Company”) (ILI-TSX:V) (37NN–FRANKFURT) announces it has signed an agreement to acquire a 100% interest in certain claims surrounding its 100% Jackpot Lithium Project (the “Project” or “Property”) located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario. The additional land increases the size of the Property to 256 hectares.
Infinite is also pleased to announce the commencement of a drilling program at its Jackpot Lithium Project. Using recently obtained information, including all historic drill logs and coordinates for each historic drill hole, Company geologists endeavor to confirm and expand on the historical successes at the Property. Results from the current drilling program will be used to complete a future National Instrument 43-101 (“NI-43-101”) Technical Report and Mineral Resource Estimation.
Caracle Creek International Consulting of Sudbury, Ontario has been engaged to direct the drilling program. Caracle Creek is an international mineral exploration consulting company with operations centered in Canada and South Africa.
Infinite President and CEO Michael England commented, "We are excited to have work now underway at our Jackpot lithium project and with this new information we will now be able to drill with confidence to both confirm historic numbers as well as test for other spodumene-bearing pegmatite bodies.”
The historic Jackpot lithium deposits were described by E.G. Pye in a 1965 report published by the Ontario Department of Mines on the Georgia Lake Area. The deposits were tested by a total of 32 holes drilled in 1955 by the Ontario Lithium Company Limited and its associated company Conwest Exploration Co. Ltd. The historic drilling confirmed the presence of at least two spodumene-bearing pegmatite bodies, one at and near the surface (No. 1) and the other (No. 2) lying beneath the No. 1 deposit. Historical resources at Jackpot, comprising only the No. 2 pegmatite, were reported as 2 million tonnes @ 1.09% Li2O, estimated in 1956 by the Ontario Lithium Company Limited*. The No. 2 pegmatite, which was discovered by diamond-drilling, was intersected by drilling at 30 to 100 metre intervals over a strike length of 215 metres, and at 30 to 60 metre intervals over a distance of approximately 365 metres across strike. The No. 2 pegmatite dyke is approximately 4 to 20 metres thick, averagi ng 11 metres.
*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These Historical Mineral Resources do not refer to any category of sections 1.2 and 1.3 of the National Instrument 43-101 such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not yet done sufficient enough work to classify the historical resource estimates as current mineral resources or mineral reserves and therefore should not be relied upon.
Terms of the 100% acquisition of the new lands call for a payment of 600,000 shares to the vendors plus the granting of a 2% NSR of which the Company may purchase back 1% for one million dollars.
The technical contents of this release were approved by Dr. Scott Jobin-Bevans, P.Geo., a Qualified Person as defined by the National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Infinite Lithium continues to evaluate suitable prospects that fit the mandate of the Company.
Major funding to work the Jackpot prospect
"INFINITE LITHIUM CORP. (“Infinite Lithium” or the “Company”) (ILI-TSX:V) (37NN–FRANKFURT) is pleased to announce that it has closed its previously announced private placement of units (see previous news releases dated November 23, 2017 and November 27, 2017), for aggregate gross proceeds of $4,830,000.
Pursuant to the private placements, a total of 34,000,000 units were issued at $0.12 per share, for gross proceeds of $4,080,000, and a total of 5,000,000 units were issued at $0.15 per share, for gross proceeds of $750,000. Each unit is comprised of one common share and one common share purchase warrant exercisable at $0.20 per share for 36 months. The shares and warrants comprising the units are subject to a 4 month hold period expiring April 23, 2018.
With respect to the units issued at $0.12 per unit, a total of $134,776.40 in cash finder's fees were paid to arm's length parties. With respect to the units issued at $0.15 per unit, a total of $11,250 in cash finder's fees were paid to arm's length parties.
Proceeds received by the Company will be used for general corporate purposes and for advancing the Company's 100% owned Jackpot lithium project, located in the Georgia Lake area of the Thunder Bay Mining Division, Ontario.
The Company also announces it will not be proceeding with the Iron-T acquisition announced July 6, 2017 as it has determined to focus its efforts in the lithium space.
The Company further announces it has granted 800,000 stock options to directors and officers of the company, exercisable at a price of $0.30 per share for a period of 24 months from the date of grant. The options have been granted in accordance with the company's stock option plan.
About Infinite Lithium
Infinite Lithium is a junior mining exploration company focused on seeking and acquiring lithium projects globally.
Serious monies to be raised. Gives management the means to better develop the holdings of the company
"ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that further to its news releases of November 8th, 2017 and November 15, 2017 the non-brokered private placement is being increased to up to 34,000,000 units (the “Units”) at a price of $0.12 per Unit for aggregate gross proceeds of $4,080,000. All other terms of the private placement remain unchanged.
The private placement is subject to the acceptance of the TSX Venture Exchange.
Alix Resources is a junior mining exploration company focussed on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company."
Here we go- "Pursuant to a directors' resolution dated Nov. 6, 2017, the company has consolidated its capital on a one-new-for-four-old basis. The name of the company has not been changed.
Effective at the opening, Nov. 21, 2017, the shares of the company will commence trading on the TSX Venture Exchange on a consolidated basis. The company is classified as a mineral exploration/development company.
Postconsolidation
Capitalization:unlimited shares with no par value, of which 18,118,297 shares are issued and outstanding Escrow:nil shares subject to escrow Transfer agent:TSX Trust Company Trading symbol:AIX (unchanged) Cusip No.:01642R409 (new)"
Management didn't waste any time to start fundraising to hopefully develop Jackpot Lithium property
"ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N2–FRANKFURT) announces the Company has arranged a non-brokered private placement of up to 25,000,000 units (the "Units") at a post-consolidation price of $0.11 per Unit for an aggregate gross proceeds of $2,750,000 (the "Offering").
Each Unit will consist of one post-consolidation common share and one post-consolidation common share purchase warrant, with each warrant entitling the holder thereof to acquire one post-consolidation common share at an exercise price of $0.20 per share for a period of 24 months. The Company may, in its sole discretion, pay finders' fees to agents of the Company.
The proceeds raised will be used for general corporate purposes and for advancing the Company’s 100% owned Jackpot Lithium project located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario.
About Alix Resources
Alix Resources is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
ROLL BACK!!
Not surprised. Hate it but makes sense and at least its
1 for 4. Could have been worse. Think that works out to 18 million shares after cut back.
Alix Resources Corp. has proposed a consolidation of its common shares on the basis of four existing shares for one new share. Currently, a total of 72,473,191 Shares are issued and outstanding. Accordingly, if put into effect on the basis of four existing shares for one new share, a total of 18,118,298 shares would be issued and outstanding following the consolidation, assuming no other change in the issued capital. According to the company's articles, the board of directors of the company has the ability to approve the consolidation and the board of directors believes it is in the best interest of the company to approve the consolidation. The consolidation will increase the company's flexibility and competitiveness in the market place and make the company's securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for its shares.
The consolidation will affect all shareholders of the company uniformly and affect all of the company's stock options and warrants issued and outstanding at the effective date. At the time of the consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the consolidation. The actual adjustment will be made by the company in consultation with its advisers. The consolidation is subject to the acceptance of the TSX Venture Exchange.
Alix Resources is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the company.
AIX's partner in Mexico has filed their year M&A.
"During 2017, and after an extensive safety review of its Sileach® process by the Australian Nuclear Science and Technology Organisation (ANSTO) LIT completed its continuous pilot plan run and subsequently its engineering study. It is LIT’s intention to optimise plant design before it considers a Final Investment Decision to develop the Large-Scale Pilot Plant with a capacity to produce up to 2,500 tpa lithium carbonate equivalent. LIT drilled at two of its prospects this year. With its joint venture partner in Mexico, LIT drilled its Agua Fria prospect. Whilst there were no big hits, the clays provide an ideal opportunity for entrance into the USA market in the event that LIT unlocks the key to the best beneficiation process.
LIT has developed a number of alliances with companies such as Pilbara Minerals Ltd, MetalsTech Ltd, Venus Metals Corporation Ltd, Alix Resources Corporation, Tin International and Focus Minerals NL for the reason of securing a diverse supply of lithium resources in the world’s major lithium provinces.
Thus, in the 2017 financial year, the Company's principal aim – that of creating value for shareholders – has been achieved in numerous ways. In addition to the above-mentioned increase in share price, long-term shareholders benefited from the 5-cent partly paid share series, which in 2015-16 peaked at 30 cents with a bonus issue from a previous year, while in August 2016 a further bonus issue of a one-for-two 25-cent partly-paid share was listed and traded at a high of 6.5 cents. Moreover, in May 2016, Lithium Australia announced its proposed spin-out of the Company's graphite assets, for which an IPO in late 2017 is planned." This is important to AIX as the agreement withELECTRA LITHIUM PROJECT LIT AND ALIX
April 19, 2016, Vancouver, BC, Canada – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) and Lithium Australia NL (“LIT”)(LIT-ASX:
• Signing of a definitive agreement between AIX and LIT to explore and develop the Electra project whereby LIT will earn a 49% interest in the Electra project through the issuance to AIX of 1,000,000 fully paid ordinary LIT shares. 1,000,0000 partly paid LIT contributing shares paid to 0.001 Australian cent each (24.99 Australian cents unpaid), and expenditures of $400,000. LIT has a further option to increase its interest in the Electra project to 65% through the issuance to AIX of 1,500,000 fully paid ordinary LIT shares, expenditures of $1,500,000 and a cash payment of $250,000;
• An exploration budget for the Electra project has been approved by LIT, securing the financing for the upcoming Phase 1 Electra work program, with work to begin in early May;
• Also included in the definitive agreement is the right for AIX to be granted a 10% interest in any novel lithium extraction technologies (“LET”) used or developed in relation to the Project properties (Tecolote and Tule Concessions) and/or the Sonora Project currently owned by Bacanora Minerals Ltd. and REM, whether patented or not patented..
because of the terms of the AIX/ LIT agreement which
Another project started by management re Lithium prospect
"ALIX TO COMMENCE WORK AT HISTORICAL LITHIUM RESOURCE AT JACKPOT LITHIUM PROPERTY, ONTARIO
October 26th, 2017, Vancouver, BC, Canada – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces a work program is set to commence in the first week of November at its 100% owned Jackpot Lithium project located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario. The program will consist of stripping, channel sampling and drill pad set-ups. The objective of this program will be to confirm historic drilling and the continuity and extent of the near surface No. 1 zone. As drill permits are currently in place, drilling is expected to commence shortly after completion of this program.
President and CEO Michael England commented, "The lithium sector has definitely heated up and we look forward to getting back on the ground in order to advance one of our premiere prospective properties boasting an historic lithium resource at Jackpot.”
The Jackpot lithium deposits was described by E.G. Pye in a 1965 report published by the Ontario Depart. of Mines on the Georgia Lake Area. The deposits were tested by a total of 32 holes drilled in 1955 by Ontario Lithium Company Limited and its associated company Conwest Exploration Co. Ltd. The drilling confirmed the presence of at least two spodumene-bearing pegmatite bodies, one at the surface (No. 1) and the other (No. 2) lying directly beneath the No. 1 deposit. Historical resources at Jackpot, comprising only the No. 2 Dyke pegmatite zone, was reported as 2Mt @ 1.09 Li2O estimated in 1956 by Ontario Lithium Company Limited*. The No. 2 pegmatite dyke, which was discovered by diamond-drilling, was intersected at 30 to 100 meters intervals over a strike length of 215 meters and at 30-60 meters intervals over a distance of 365 meters across strike. Dyke No. 2 is 4 to 20 meters thick, averaging 11 meters.
*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
The technical contents of this release were approved by Michel Boily, PhD, P.Geo a Qualified Person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
Alix Resources is a junior mining exploration company focussed on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
ALIX DEFINES LITHIUM TARGET OVER 2.5 KILOMETER STRIKE LENGTH ON THE AGUA FRIA PROJECT, SONORA MEXICO
October 16th, 2017, Vancouver, BC, Canada –ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that Perth-based lithium processing technologist, Lithium Australia NL (ASX: LIT)(“LIT”) has moved to a 54% controlling stake in the Electra lithium project in northwest Mexico. The project comprises the Tecolote, Tule, and Agua Fria concessions and is currently the subject of a farm-in and joint venture between Alix and LIT. LIT has the right under the JV terms to earn an ultimate 65% holding in Electra. Lithium Australia moved to the majority 54% ownership on completion of a recent drilling program.
This generated confirmation of a new 2.5 km-long, 25-50 m-thick mineralized zone lying on the western flank of the Agua Fria concession in what the JV partners described as the project’s best discovery yet.
The terms of the acquisition of the joint venture for the Stage 3 earn-in are described in the table below. LIT was requested by Alix the Stage 3 Joint Venture earn-in be accessed early to ensure the maiden drill campaign was not implement for lack of funds. All other terms of the Joint Venture Agreement remain fully enforceable.
AIX and LIT recently completed a drilling program on the Agua Fria property, Electra Project located in Sonora, Mexico (see PR dated September 1, 2017). Drilling concentrated along a 6 km length of various stacked beds of lithium-rich sediments found on the Agua Fria property. The highlight of the exploration program was the discovery of the “West Flank” lithium zone, which partially outcrops and extends in a NNW-SSE-direction for more than 2,500 m, on the western portion of the Agua Fria concession (See Figure 1).
In total, 16 Reverse Circulation drill (RC) holes were completed totaling 1,762 m across multiple target areas.
The “West Flank” lithium target is the most significant target as it outcrops and has the most potential to contain important mineralization with very low stripping ratios. The West Flank is defined by:
Surface grid sampling completed in May (rock chip sampling) with 31 samples returning +/= 1,000 ppm (148 samples in total).
Three trenches sampled systematically and continuously returning 949 ppm Li over 31 m, 954 ppm Li over 25 m and 928 ppm lithium over 43 m.
RC drill holes on the West Flank Target including: AF-17-01, 1,058 ppm Li over 33 m from 3 m, AF-17-02 1,031 ppm Li over 48 m from 63 m, AF-17-03, 917 ppm Li over 30 m from 27 m; and AF-17-14, 1,050 ppm Li over 24 m from the collar (for details of results please refer to www.alixresources.com):
trench samples (lab assays),
channel samples (lab assays),
rock chip samples (z-300 LIBS assays) and
drill results (lab assays).
RC drill holes on the edge (east side) of the West Flank Target include hole AF-17-11, yielding 791 ppm Li over 24 m from the collar, and hole AF-17-12, with 816 ppm Li over 45 m from the collar.
The West Flank lithium zone is 25 to 50 m-thick and is dipping shallowly to the east, providing potential to produce significant tonnage. Future efforts on the West Flank target will focus on identifying the stratigraphy and controls of higher grade lithium values close to surface.
Metallurgical testing continues, having established that:
acid leaching at 50°C achieves 99% extraction of Li in only four hours,
no roasting is required and
no expensive reagents are required.
A large sample is currently being composited for further metallurgical studies. In addition to significant Li values, the clay horizons at Agua Fria are anomalous in potassium which may be recoverable as potassium sulphate, a major component of “NPK” fertilizers. This potentially adds a valuable by-product credit to the project’s economics.
Figure 1: Electra Project – West Flank – drilling and surface sampling location map
Lithium Australia Managing Director Mr. Adrian Griffin:
“The move to majority ownership at Electra and the emergence of the western flank of Agua Fria as a significant discovery with near-term potential, reflects the depth and scope of the Company’s unerring growth strategy to build a lithium business based on breakthrough processing technologies applicable to unconventional and once considered uneconomic feedstock sources, and to de-risk our strategy by evolving partnerships and project interests across the globe, as well as our flagship lithium interests across Western Australia. We will continue to partner closely with Alix to maximize the unfolding upside in Agua Fria in line with developments globally in the lithium-ion new battery era space.”
President of Alix, Mr. Mike England:
"We are very pleased with the advances made at Agua Fria with our partner Lithium Australia. Our respective companies have worked very well together and with LIT’s use of breakthrough technologies on our expanding discovery we feel we have the key to making Agua Fria a big success."
The Company further wishes to announce it has determined, upon completion of the prescribed due diligence period to not proceed with the acquisition of the BC properties as announced August 28th, 2017.
The technical contents of this release were approved by Dr. Michel Boily, PGeo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
About Alix Resources
Alix Resources is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
ALIX DISCOVERS LITHIUM MINERALIZATION ON PROPERTY ADJACENT TO NORTH AMERICAN LITHIUM's PRODUCING MINE
Alix Resources Corp. has released the results from a 1,300-metre drill program recently completed on the Preissac-Lacorne lithium portfolio. Drilling was performed by Jourdan Resources Inc (JOR-TSXV) who hold an option to earn up to 75% of the project.
The centre of the drill program is 1.5km northwest of the adjacent Quebec Lithium Mine owned and operated by North American Lithium. The adjacent mine announced commercial production of spodumene concentrate on June 2, 2017 with production targeted for the Chinese market.
A total of 1300 m of drilling was completed in 11 drill holes on the Preissac-Lacorne Lithium Portfolio.
Spodumene bearing dykes have been visually identified in all holes other than WL17-02, WL17-03 and WL17-11.
Table 1: Drilling Results from 2017 Program
Hole From (m)To (m)Length (m)Li2O%
WL17-01 50.70 54.15 3.45 0.18
86.25 87.15 0.90 0.14
WL17-02 NSA
WL17-03 NSA
WL17-04 72.00 73.50 1.50 0.22
78.75 80.15 1.40 0.24
including78.75 79.75 1.00 0.28
160.00 162.602.60 0.19
including160.50 161.000.50 0.49
175.65 176.200.55 0.50
WL17-05 11.80 15.20 3.40 0.25
including11.80 12.35 0.55 0.50
WL17-06 12.80 15.00 2.20 0.43
including13.40 14.50 1.10 0.76
WL17-07 17.00 29.45 12.45 0.24
including19.00 21.45 2.45 0.59
including22.40 24.00 1.60 0.27
including27.20 28.35 1.15 0.22
WL17-08 30.00 33.10 3.10 0.25
48.65 48.95 0.30 0.78
173.75 174.650.90 0.74
WL17-09 49.80 51.65 1.85 0.40
56.20 56.40 0.20 0.33
96.65 97.05 0.40 0.35
WL17-10 14.00 14.70 0.70 0.48
WL17-11 NSA
WL17-12 11.80 12.30 0.50 0.64
All samples have been sent to SGS Canada Inc. facilities in Lakefield, Ontario ("SGS") for analysis by Inductively Coupled Plasma methods. These laboratories are recognized by the industry and accredited ISO/MEC 17025 by the Standards Council of Canada. In addition to the quality assurance and quality control ("QA/QC") employed by SGS, Jourdan Resources develops a rigorous QA/QC protocol for its operators, including the insertion of analytical standard samples, duplicates and coarse silica blanks on a systematic basis. To determine the QC warning, plus or minus2x Std. Dev., and QC failure plus or minus3x Std. Dev. were used. QC results did not highlight any significant analytical bias.
Yves Caron, M.Sc., P.Geo., and Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release.
Significant assays received from Mexico !!
"ALIX DEFINES LITHIUM TARGET OVER 2.5 KILOMETER STRIKE LENGTH ON THE AGUA FRIA PROJECT, SONORA MEXICO
Alix Resources Corp. has completed its drill program on the Electra project in the Agua Fria property located in Sonora, Mexico, in partnership with Lithium Australia. In total 16 reverse circulation holes were completed totalling 1,762 metres of drill material on multiple targets (Table 2). Highlights of the exploration program include the discovery of the West Flank lithium zone, which extends in a north-northwest-south-southeast direction for nearly 2.5 kilometres on the western portion of the Agua Fria concession.
The West Flank lithium target is the most significant target and is defined by:
A surface grid sampling was completed in May, 2017 (rock chip sampling), with 33 samples returning Li assays around 1,000 parts per million out of 187 samples in total.
Three trenches are undergoing systematic and continuous sampling yielding 949 ppm Li over 31 m, 954 ppm Li over 25 m and 928 ppm Li over 43 m, respectively.
RC drill holes collared on the West Flank target produced: 1,058 ppm Li over 33 m from the collar (AF-17-01), 1,031 ppm Li over 48 m from 63 metres (AF-17-02), 917 ppm Li over 30 m from 27 metres (AF-17-03) and 1,050 ppm Li over 24 m from the collar (AF-17-14).
RC drill holes sunk on the edge (east side) of the West Flank target revealed assay values of 867 ppm Li over 24 m from the collar (AF-17-11), and 816 ppm Li over 45 m from the collar (AF-17-12). Other RC drill holes did not provide significant results.
Hole From To Interval Li
ID (m) (m) (m) (ppm)
AF-17-001 3.0 85.0 82.0 938
incl. 3.0 36.0 33.0 1,058
54.0 75.0 21.0 1,043
AF-17-002 63.0 138.0 75.0 966
AF-17-003 27.0 57.0 30.0 917
AF-17-004 3.0 36.0 33.0 991
AF-17-004 57.0 78.0 21.0 986
AF-17-005 72.0 96.0 24.0 906
AF-17-008 27.0 84.0 57.0 719
AF-17-012 0.0 45.0 45.0 816
AF-17-014 0.0 90.0 90.0 904
incl. 0.0 24.0 24.0 1,050
The West Flank lithium zone is 25 to 50 m thick, shallow dipping and provides the best potential to define a resource of significant tonnage near surface. Future efforts will be devoted to the West Flank target to establish the stratigraphic control of higher lithium concentrations.
New metallurgical testing revealed acid leaching at 50 C achieving 99-per-cent extraction of Li in four hours with no roasting or expensive reagents required. A large sample is currently being collected for further metallurgical studies.
In addition to significant Li values, the clay horizons at Agua Fria are characterized by anomalous potassium values, an element which may be recoverable as potassium sulphate, a major component of NPK (nitrogen-phosphorous-potassium) fertilizers. This potentially adds a valuable byproduct.
Quality assurance/quality control protocol
Alix Resources implemented a QA/QC program during the drilling at Aqua Fria. Drill samples were collected on three m intervals, the equivalent of one sample per drill rod. The entire sample was collected using buckets and sacks to catch as much of the fine fraction as possible. Samples were weighed, split using a riffle splitter to obtain a five-kilogram sample in micropore bags to be sent to the ALS Hermosillo Laboratory. A representative sample was also collected for the chip tray and Z-300 on-site analysis. Surface and trench samples were collected using grub hoes and/or shovels, providing three to five kg samples which were put in a plastic bag, tagged and sealed before being transported to the laboratory. Samples were shipped from the site directly to ALS laboratory and transported by Alix representatives.
Preparation package PREP-31 was requested which includes crushing at 70 per cent less than two millimetres and reduction to a pulp 85 per cent less than 75 micrometres. Pulps were sent to the Vancouver ALS laboratory where they underwent dissolution by four-acid digestion (perchloric, nitric, hydrofluoric and hydrochloric acids) and analyzed by inductively coupled plasma atomic emission spectrometry for 48 elements: silver (Ag), aluminum (Al), arsenic (As), barium (Ba), beryllium (Be), bismuth (Bi), calcium (Ca), cadmium (Cd), cerium (Ce), cobalt (Co), chromium (Cr), cesium (Cs), copper (Cu), iron (Fe), gallium (Ga), germanium (Ge), hafnium (Hf), indium (In), potassium (K), lanthanum (La), lithium (Li), magnesium (Mg), manganese (Mn), molybdenum (Mo), sodium (Na), niobium (Nb), nickel (Ni), phosphorous (P), lead (Pb), rubidium (Rb), rhenium (Re), sulphur (S), antimony (Sb), scandium (Sc), selenium (Se), tin (Sn), strontium (Sr), tantalum (Ta), tellurium (Te), thorium (Th), titanium (Ti), thallium (Tl), uranium (U), vanadium (V), tungsten (W), yttrium (Y), zinc (Zn), zirconium (Zr) (package ME-MS6). Blanks, standards and duplicates were inserted every 10th sample in the following sequence: duplicate, standard GTA-07, blank, duplicate, standard GTA-02, blank. Blanks were sourced locally from a clay unit that averaged 26 ppm Li. Duplicates were taken on-site with the riffle splitter. Standards were provided by Geostats Pty. Ltd.
Lithium mineralization on the Agua Fria project occurs in a similar geological context to that of the nearby Sonora lithium project, owned by Bacanora Minerals Ltd. and Rare Earth Minerals PLC (REM). The Sonora lithium project, has established an indicated mineral resources 4.5 million tonnes (LCE) and 2.7 million tonnes of inferred mineral resource, in accordance with National Instrument 43-101.
Mike England, president of Alix, stated: "We are very pleased with the results of the recent RC drill program and the ongoing metallurgical studies, directed by our partner Lithium Australia. With a focus on outlining higher grades in the West Flank zone and the encouraging beneficiation strategies, it is our objective to define an economic lithium resource, similar in grade and size to that of the Bacanora/REM La Ventana deposit."
The technical contents of this release were approved by Dr. Michel Boily, PGeo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
About Alix Resources Corp.
Alix Resources is a project generator in the junior mining exploration business focused on seeking and acquiring world-class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the company.
A NEW project for AIX!!
'ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased to announce the signing of a Letter of Intent (LOI) to acquire a 100% interest in a property package comprising five claim blocks located 19 to 40 kilometres northeast of Stewart, British Columbia, in the Golden Triangle. The properties are prospective for gold, silver, copper, lead and zinc.
Summary
Portland Property
Kelly Girl Claim
Lucky Date Claim
About the Golden Triangle
Deal Terms
Portland Property
The Portland Property, the largest claim block, comprises 2,416 hectares and covers both the Victor and Portland MINFILE occurrences. The property is located approximately 19 kilometres northeast of Stewart and is traversed by Hwy 37A. Both targets have been subject to historical surface and underground activity dating from the early 1900’s, but remain relatively unexplored by modern means, with only one assessment report covering the claim area, filed in 2006.
The Portland prospect is located about 1 kilometre north of Hwy 37A, with historical work reported from 1910 through 1931. Activities focused on a north-striking, westerly-dipping quartz vein, up to 0.6 metres wide, in a zone of brecciated argillite. The vein was exposed in a 60-metre-long tunnel, with pyrite reported as the principal sulphide. A grab sample assayed 8.6 g/t Au and 432 g/t Ag. (1) (9) *
The Victor Showing is located just south of Hwy 37A, 21 kilometres northeast of Stewart, with historic work reported from 1909 to 1910. The showing comprises a series of open cuts and an adit at least 43 metres in length. Mineralization at the adit comprises a fracture zone at the contact of a porphyry dike in argillite and hosts at least two lenses of nearly massive sphalerite-galena. The northwestern lens is 6.1 metres long, 4.6 metres deep and 0.25 metre wide. The southeastern lens is about 4.6 metres long and 0.1 to 0.2 metre wide. A grab sample from the adit dump assayed trace gold, 582.9 g/t Ag, 44.0 % Pb and 22.6% Zn. (2) (7) *
Kelly Girl Claim
Approximately 3 kilometres to the west of the Portland Property, the Kelly Girl Claim comprises 36 ha and covers the Kelly Girl MINFILE showing. In 1990, an 80-centimetre chip sample assayed 3.21 g/t Au and 3.4 g/t Ag. A grab sample from nearby float assayed 4.54 g/t Au, 71.8 g/t Ag, 7.92% Cu. (3) (4) (5) *
Lucky Date Claim
Approximately 3.1 kilometres to the southeast of the Portland Property, the Lucky Date Claim comprises 54 ha and covers the plotted location of three historic MINFILE occurrences: St. Elmo, Jutland, and Lucky Date. The exact locations of these occurrences are not known, and exploration activity is reported from the 1920’s to the 1940’s, however there are no recent assessment reports covering the occurrences. (10)
On the Lucky Date showing, a channel sample collected in 1946(?) from the I.X.L. quartz vein, assayed 0.34 g/t Au, 185.1 g/t Ag, 0.15% Cu, 1.6% Pb, 6.9% Zn and 0.13% Cd (cadmium) across a width of 0.76 metre.
The Goat Vein extends over a length of 240 metres from 1067 to 1189 metres elevation. A channel sample taken in 1946(?) from an adit at 1067 metres elevation, assayed 75.4 g/t Ag, 2.90% Pb, 3.9 % Zn and 0.05% cadmium (with 0.07% Cu and nil Au) across a width of 0.71 metres. The location of this vein is not specified in the historical reports. (6) (8) *
The St. Elmo Minfile is designated by BC MINFILE as a past producer with a 13.6 tonne shipment of sorted ore mined in 1947 averaging 4,217 g/t Ag, 17.5% Pb and 22.8 % Zn. A chip sample from the upper lens assayed 2972.6 g/t Ag, 8.3 % Pb, 4.6% Zn, 0.8% Cu and 0.69 g/t Au across 0.18 metres. (11) *
* The reader is cautioned that grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
Mike England, president of Alix, states, "We are very pleased to have acquired a prospective group of properties in the heart of one of the busiest exploration gold and silver camps in Canada. Company personnel are reviewing assessment files and data on the properties and planning a site visit to commence in early September.
About the Golden Triangle
The Golden Triangle of British Columbia is currently one of the most active exploration and mine development districts in Canada. Major infrastructure improvements are in progress in the area, concurrent with extensive gold mine development, including the recent (June 20, 2017) announcement by Pretium Resources Inc., of the first gold poured at the Brucejack mine, the newest gold mine in Canada.
Terms of the Deal
Cumulative terms of the deal call for Alix to make cash payments of $100,000, issue 5 million shares and spend $300,000 over a 3-year period. A 3% NSR will be granted to the vendor with 2% purchasable by Alix at any time for $2 million.
The technical contents of this release were approved by Case Lewis, P.Geo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
About Alix Resources
Alix Resources is a junior mining exploration company focused on acquisition and exploration of precious metal and lithium projects globally. Current projects are active through Joint Venture partners and/or by the Company in Sonora, Mexico, Nevada, Manitoba, Ontario and Quebec. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
References
Geological Survey of Canada Memoir 175
Minister of Mines Annual Report 1910
MINFILE No 104A 159
Assessment Report 21244
Assessment Report 22890
Minister of Mines Annual Report 1946, page 80
MINFILE No 104A 030
MINFILE No 104A 047
MINFILE No 104A 031
MINFILE No 104A 046
Minister of Mines Annual Report 1947, page 91
Further update on New Joint Venture
The TSX Venture Exchange has accepted for filing an agreement dated June 27, 2017, between the company and Vanadiumcorp Resource Inc., whereby the company has been granted an option to acquire an undivided 60-per-cent interest in the Iron-T vanadium mineral property located in Quebec. Consideration is the issuance of a total of five million common shares and expending $2-million in exploration expenditures over a three-year period. A 3-per-cent net smelter return (NSR) royalty will be granted to Vanadiumcorp, of which the company can purchase 1.5 per cent for cancellation in consideration of $500,000. The purchase will be subject to further exchange review and acceptance
A surprising new project for AIX
"ALIX ENTERS INTO PROPERTY OPTION AGREEMENT TO JOINT VENTURE UP TO 60% OF VANADIUMCORP'S IRON-T VANADIUM PROJECT
July 6th, 2017, Vancouver, BC, Canada – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased to announce that it has entered into a Mineral Property Option Agreement dated June 27th (the “Option Agreement”) with VanadiumCorp Resource Inc. (VRB-TSX:V) (“VRB”))(“VanadiumCorp”) to joint venture up to an 60% interest in the Iron-T Vanadium Project (the “Property”) which spans 3,500 hectares and encompasses an NI 43-101 vanadium resource adjacent to the mining center of Matagami, Quebec (the “Transaction”).
As consideration for the grant of the arm’s length option and pursuant to the terms of the Option Agreement, Alix will pay VanadiumCorp an aggregate stock consideration of 5,000,000 common shares and incur an aggregate of $2,000,000 CDN of staged expenditures to earn a 60% interest in the Property as follows:
Aggregate Stock Consideration
Aggregate Work Obligation
On execution of Option Agreement and regulatory approval (closing date)
200,000 common shares
On or before June 30, 2018;
$100,000 CDN
On or before 12 months from Closing Date
600,000 common shares
On or before June 30, 2019;
$400,000 CDN
On or before 24 months from Closing Date
1,200,000 common shares
On or before June 30, 2020;
$1,000,000 CDN
On or before 36 months from Closing Date
3,000,000 common shares
On or before June 30, 2021;
2,000,000 CDN
Located 350km west of the VanadiumCorp Lac Dore Vanadium Project, the Iron-T Vanadium Project encompasses a current NI 43-101 VTM resource, titled the "Genesis Zone" measures 14,376,000 tonnes inferred at 0.42% V2O5*. VTM mineralization is at surface, open at depth and along strike. Consistent drill results, trench samples and geophysics along the entire 22km strike-length confirm remarkably similar geology to the Lac Doré Vanadium Project including virtually no impurities and exceptional metallurgical recoveries.
*See VRB release dated June 3, 2011 entitled “SGS-Geostat Delivers New Resource Calculation Iron-T Vanadium-Iron-Titanium Project” announcing “Technical Report, Resource Update of the IRON-T VANADIUM-TITANIUM-IRON Property, MATAGAMI AREA, QUEBEC, CANADA” dated May 19, 2011, written by Maxime Dupéré P.Geo., SGS Canada inc. – Geostat for Apella Ressources Inc.
Mike England, President of Alix Resources stated “We are very excited to be entering into the vanadium space with long term vanadium developer VanadiumCorp. Their years of experience and knowledge will be a great benefit to Alix and its shareholders.”
VanadiumCorp is developing new processing technology for efficient and carbon free direct recovery of vanadiferous titanomagnetite “VTM” into vanadium electrolyte and other vanadium, iron and titanium products without slagging, smelting and roasting and it is understood Alix will have access to this technology as it pertains to the Iron-T Vanadium Project. Trial production of iron, titanium and vanadium directly from VRB’s Lac Dore VTM concentrate in Phase II development of Vanadiumcorp-Electrochem Technology has recently commenced.
About Alix Resources
Alix Resources is a junior exploration project generator focused on acquiring advanced lithium properties in excellent mining jurisdictions. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
The Transaction is subject to certain closing conditions, including, the approval of the TSX Venture Exchange (the “TSX-V”). There can be no assurance that the Transaction will close as proposed or at all.
DRILLING AT QUEBEC LITHIUM WEST PROPERTY VISUALLY IDENTIFIES SPODUMENE -BEARING DYKES IN NINE OUT OF ELEVEN HOLES
June 8th, 2017, Vancouver, BC, Canada –ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased announce a 1300 meter drill program has been completed on the Quebec Lithium West property. The centre of the drilled area is 1.5km northwest of the adjacent Quebec Lithium Mine owned and operated by North American Lithium which, on June 2, 2017, announced commercial production of spodumene concentrate with production targeted for the Chinese market.
A total of 1311 meters were completed in 11 drill holes with spodumene-bearing dykes visually identified in all holes with the exception of holes WL17-02 and WL17-05.
“The success of this drill program being right next door to the recently re-opened North America Lithium mine is very meaningful. Additionally, our current work program in Nevada, where we have identified some of the highest grade lithium in clays found in the state, plus the ongoing work in Mexico at Agua Fria beside Bacanora Minerals, marks an exciting time for Alix shareholders.” Stated Mike England, President of Alix Resources.
Core samples are currently at SGS Lakefield laboratory and being processed. Results are expected in less than four weeks.
The technical contents of this release were approved by Dr. Michel Boily, PhD, geo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
About Alix Resources
Alix Resources is a junior exploration project generator focused on acquiring advanced lithium properties in excellent mining jurisdictions. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
LIT-ASX version of this exciting result from Mexico development
Lithium Australia NL (ASX:LIT) has received preliminary results from its metallurgy program evaluating the Agua Fria lithium clay prospect within the Electra project in Mexico.
The results outline a path to low-cost lithium extraction at Agua Fria with no expensive reagents or roasting required.
Mineralogy suggests there is potential to significantly beneficiate the mineralisation at Agua Fria and testing shows that most lithium was liberated rapidly at ambient temperature.
Adrian Griffin, managing director, commented: “These results are a great start to our metallurgical evaluation program and clearly show the potential to produce a valuable concentrate from the host volcanogenic sediments.
“The acid solubility of the lithium is of greater importance.
“The ability to leach the lithium in very short periods of time, at ambient temperature, and without the requirement of pre-treatment may have profound effects on the economics of Agua Fria, the next major lithium clay deposit.”
Electra Project
The company is in a joint venture with Alix Resources Corp (CVE:AIX) where Lithium Australia has earned a 49% interest in the Electra project.
The Agua Fria prospect is focused on volcanogenic sediments which host widespread lithium mineralisation.
The sediments occur within the same geological sequence as Bacanora Minerals’ (CVE:BCN) La Ventana deposit which is currently being evaluated for production.
La Ventana is the largest documented lithium clay deposit and Agua Fria has a similar footprint.
Early indications are very promising with significant drill intervals having average values exceeding 1000 ppm lithium.
Drilling program
During early April, a 3,000 metre drilling program commenced at the Agua Fria prospect within the Electra Project.
The drilling program is being undertaken by local drilling contractors utilising a track mounted reverse circulation drill rig that provides good mobility.
The planned duration of the drilling campaign is 44 days.
LITHIUM EXTRACTIONS UP TO 99% FROM AGUA FRIA, MEXICO
May 24th, 2017, Vancouver, BC, Canada – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces results of successful metallurgical work on Agua Fria lithium bearing clays.
HIGHLIGHTS
Acid leach at 50C achieves 99% lithium extraction
Short leach time – only 4 hours
No roasting required
No expensive reagents required.
BACKGROUND
On May 1, 2017 Alix and partner Lithium Australia (ASX:LIT) announced preliminary results of metallurgical tests for the recovery of lithium from volcanogenic sediments at the Agua Fria prospect, part of the larger Electra project, located in Sonora County, Mexico (Figure 1).
LIT AIX JV area
Lithium in the Agua Fria prospect occurs within volcanogenic sediments which have been the focus of significant exploration, not only by LIT and AIX but also by Bacanora Minerals Ltd., which has identified the largest documented lithium “clay” deposit within the same geological sequence. The sediments at Agua Fria contain a range of minerals, including: Quartz, K-feldspar, plagioclase, analcime, ankerite-dolomite and clays (including montmorillonite).
Figure 1 Agua Fria is located due south of the giant La Ventana
deposit, operated by Bacanora Minerals Ltd.
LITHIUM EXTRACTION INCREASED TO 99%
Metallurgical test work is being undertaken by Kappes Cassiday and Associates in Reno, Nevada (USA).
Simple four hour, sulphuric acid leach tests, carried out at “room temperature” were reported on May 1, 2017. These tests extracted up to 85% of the contained lithium.
A very modest increase in temperature to only 50o C has achieved lithium extractions of 94-99% in only 4 hours, vindicating the outcome anticipated by the announcement of May 1, 2017.
BENEFICIATION POTENTIAL
Montmorillonite is thought to be the main lithium-bearing mineral and tests have commenced to isolate this material to produce a higher-grade concentrate for further testing.
Adrian Griffin, managing director of LIT stated “We have clearly demonstrated the ease with which lithium can be recovered from the volcanogenic sediments at Agua Fria. Beneficiation of the components containing the lithium, to produce a concentrated product is the next challenge. Fortunately the characteristics of each of the minerals are very different, providing a number of avenues to achieve the desired outcome.”
Mike England, President of Alix, stated: "Beneficiation is as important a step as discovering the lithium at Agua Fria. These results are extremely encouraging and we applaud the work done by our partners at Lithium Australia.”
The technical contents of this release were approved by Dr. Michel Boily, PGeo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
About Alix Resources
Alix Resources is a project generator in the junior mining exploration business focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
Another Project starts drilling!!Lots of results coming in June.
ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased to announce a 1500 m drill program has commenced on the Preissac-Lacorne Lithium Portfolio with JV partner Jourdan Resources Inc.
Initial core drilling on the West Canada Lithium property will test previously identified surface spodumene mineralization by Alix last summer. The area to be tested is approximately 2.5 kilometres west along strike from the open pit Quebec Lithium Mine, controlled by North American Lithium.
Alix President Michael England states, “These are exciting times for Alix shareholders as this drill program marks the third project of our portfolio undergoing work programs at this time.”
The technical contents of this release were approved by Dr. Michel Boily, P.Geo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
About Alix Resources
Alix Resources is a project generator in the junior mining exploration business focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company."
NEWS OF SIGNIFICANT ASSAY RESULTS
"ALIX REPORTS 3,762 PPM LITHIUM AT WHITE BASIN, NEVADA
Alix Resources Corp. has begun exploration at its 100-per-cent-held White Basin lithium property in Nevada. The White Basin property includes 25 unpatented mineral claims comprising 500 acres and is located roughly 75 kilometers northeast of Las Vegas. Sampling on the property has returned values as high as 3,762ppm Li from six composite samples of the Horse Spring Formation. The Horse Spring Formation is Oligocene-Miocene in age and includes clay-rich, altered volcanic units with historic reports of elevated lithium (Brenner-Tourtelot and Glanzman, 1978, Energy 3, 255-262). Sampling by the Company has confirmed elevated lithium with results provided in the table below.
Sample Number Lithium ppm
S#2:LV 3,762
S#1.LV 2,093
S#3-LV 1,549
LV#8 878
LVJH#1 838
LVJH#2 310
Alix President Michael England states, "We are very pleased that preliminary sampling of the White Basin property is demonstrating economic lithium potential. These results are some of the highest grades in Nevada. Based on these positive results our field crew continues to systematically sample the property, with additional results expected in the coming weeks."
The Company is also pleased to announce the appointment of Dr. Tom E. McCandless as Technical Advisor to Alix. Dr. McCandless has over 35 years of mineral exploration experience including eight years in lithium exploration. He is president of MCC Geoscience Inc. and also holds the position of Adjunct Professor in Geochemistry at the University of Arizona and University of Alberta.
The technical contents of this release were approved by Dr. Tom E. McCandless, P.Geo., Technical Advisor to Alix and a qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report and Dr. McCandless has not verified the technical data disclosed in this release.
About Alix Resources
Alix Resources is a project generator in the junior mining exploration business focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
Another J/V for AIX
ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that it has negotiated an option agreement with Jourdan Resources Inc. (JOR-TSX:V) (“Jourdan”) whereby Jourdan has the right to acquire up to a 75% interest in Alix’s Preissac-Lacorne Lithium Portfolio (the “Alix Option”).
Jourdan has an option to earn a 75% interest in the Preissac-Lacorne Lithium Portfolio pursuant to the Alix Option, by completing staged payments of cash and shares totaling $125,000, and 1,200,000 Jourdan common shares (each a “Share”) over a two year term, as follows: $50,000 and 600,000 shares on or before May 15, 2017; and $75,000 and 600,000 shares on or before the second anniversary date of the Alix Option agreement. This agreement is subject to TSX Venture approval.
About Alix Resources
Alix Resources is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
Lithium results places Alix as one of the “probable success stories of today”
When you spend more time reading lithium assays than sleeping, a good result really stands out, especially when the data shows that a lithium-rich clay can be refined with a cost-effective extraction. You see, clay is notoriously difficult to dissolve and filter, normally requiring processes that depend heavily on time and heat; both of which are very costly endeavours. A clay that can provide superb recovery, at room temperature, on massive lithium concentrations is incredibly uncommon, but that’s exactly what Alix Resources Corp. (TSXV: AIX) (“Alix”) have just proven to exist at their Electra project in Mexico.
The recent results are from the target area known as Agua Fria, and aren’t really all that surprising given that the site shares a strike with the nearby La Ventana section of the Sonora deposit, owned by Bacanora Minerals; famous for being the largest lithium clay resource as yet identified, and one of the only lithium projects to have an actual offtake agreement with Tesla Motors already in place.
The layered sedimentary material has been confirmed for 5km along strike, at widths of over 800m, and at depths of up to 30m. Significantly, multiple assays returned lithium values well over 1000ppm, which is an order of magnitude greater than what most people would consider economically viable to extract. Furthermore, an impressive 85% of the precious tech-metal was successfully extracted from a selection of high-grade samples using a simple room-temperature process. With slight adjustments to processing, Alix expects to be able to recover in excess of 90% of the lithium content of their original material at a cost low enough to turn heads.
The Electra project is 51% owned by Alix, with the remainder taken up by renowned Perth-based explorer Lithium Australia; the combined experience of these two companies should provide any long-time readers with the confidence to know that these companies’ projects will advance rapidly. Known to proceed aggressively, Lithium Australia have built up numerous resources globally, and are superbly positioned to benefit from the coming energy storage boom.
Additionally, Lithium Australia are developing the much-discussed Sileach technology that will recover lithium from silicate host rocks such as spodumene and mica significantly more effectively than current processing methods. Alix announced last month that they had wholly acquired a further property in Nevada totalling 500 acres, and although information on the project is so far sparse, it will likely ultimately make good use of the ground-breaking technology being developed by the company’s partners.
The Electra Project consists of two strategically located exploration properties in Sonora, Mexico, contiguous to Bacanora Minerals’ Sonora Lithium Project. The existing infrastructure makes for a significantly easier setup, and historically, the area has considerable credibility. Now that the Agua Fria target has demonstrated similar results to those of the nearby Sonora project located to the north, we should see exploration seriously stepped-up throughout the year, bringing with it large gains to share prices as the company pushes towards production.
The next major milestone for Alix is demonstrating full feasibility of the project, but already the preliminary results are some of the best I’ve seen for quite some time. Knowing what we know about the lithium world, it is obvious that not everyone is going to achieve supplier status, but excellent relationships, market-disrupting technology, and an exceedingly positive outlook for numerous projects puts Alix right up there with the most probable success stories of today.
ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) wish to provide the following news release issued by its JV partner Lithium Australia ML (LIT-ASX) with regards to the ongoing program at the Agua Fria Lithium Project located in Sonora, Mexico.
HIGHLIGHTS
Mineralogy suggests there is potential to significantly beneficiate Agua Fria mineralization.
Most lithium liberated rapidly at ambient temperature.
No expensive reagents required.
No roasting required.
Montmorillonite is thought to be the main lithium bearing mineral.
BACKGROUND
Drilling is progressing at Agua Fria, where Lithium Australia (ASX:LIT) and Alix Resources Corporation (TSX:V AIX) operate a 49/51% joint venture (Figure 1).
Figure 1 Shows the location of the Electra Project (which includes Agua Fria) Sonora, Mexico.
LIT AIX JV area
The Agua Fria prospect is part of the Electra Project (Figure 1) which is focused on volcanogenic sediments hosting widespread lithium mineralization. The sediments occur within the same geological sequence as Bacanora Minerals’ La Ventana deposit which is currently being evaluated for production.
La Ventana is the largest documented lithium “clay” deposit. Agua Fria has a similar geological footprint and lies to the south of La Ventana deposit. Early indications are very promising with significant drill intervals having average values exceeding 1000ppm lithium.
PRELIMINARY METALLURGICAL RESULTS
Metallurgical test work is being undertaken by Kappes Cassiday and Associates in Reno, Nevada (USA). Mineralogical characterization (using sample from surface trenching) has been evaluated with quantitative X-ray diffraction and yielded the results shown in Table 1.
Mineral
Ideal Formula
Composite 1
Quartz
SiO2
2
K-feldspar
KAlSi3O8
18
Plagioclase
NaAlSi3O8 – CaAlSi2O8
13
Analcime
NaAlSi2O6·H2O
12
Ankerite – Dolomite
Ca(Fe2+,Mg,Mn)(CO3)2 – CaMg(CO3)2
23
Calcite
CaCO3
1
Anatase
TiO2
1
Montmorillonite, model
(Na,Ca)0.3(Al,Mg)2Si4O10(OH)2·nH2O
30
Total
100
Table 1 Quantitative XRD of trench composite samples, Agua Fria.
INTERPRETED MINERALOGY
Quantitative XRD analyses were performed on a composite sample assembled from trench samples at Agua Fria. The XRD suggests the main lithium bearing phase is montmorillonite, a lithium clay mineral similar to hectorite. The other minerals forming the clay sample are dolomite, quartz, plagioclase feldspar and analcime.
ACID EXTRACTION OF LITHIUM AT AMBIENT TEMPERATURE
Preliminary sulphuric acid shaker tests were carried out at room temperature for a period of four hour on the samples containing up to 950 ppm Li. Lithium extraction attaining 85% were observed. These are excellent results given the fact these sighter tests were performed at low temperature and with a relatively short residence time. The tests indicate no thermal pre-treatment of the material is required. A moderate increase in temperature and residence time is expected to improve kinetics and drive the lithium extraction greater than 90 %.
BENEFICIATION POTENTIAL
Montmorillonite is thought to be the main lithium-bearing mineral. It accounts for only 30% of the sample mass. Efficient separation of the montmorillonite from gangue minerals has the potential to produce a concentrate with significantly higher lithium grades than the bulk material subject of the characterization work.
Separating montmorillonite from the acid-consuming dolomite and calcite by the application of de-sliming or flotation will significantly reduce the quantity of acid used.
Lithium Australia Managing director Adrian Griffin stated:
“These results are a great start to our metallurgical evaluation program and clearly show the potential to produce a valuable concentrate from the host volcanogenic sediments. The acid solubility of the lithium is of greater importance. The ability to leach the lithium in very short periods of time, at ambient temperature, and without the requirement of pre-treatment may have profound effects on the economics of Agua Fria, the next major lithium clay deposit.”
The technical contents of this release were approved by Michel Boily, PhD, P.Geo a Qualified Person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.
About Alix Resources
Alix Resources is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
Management getting their "ducks in a row" That is why
Mr Jacob is important new director.
"The TSX Venture Exchange has accepted for filing an option agreement dated March 28, 2017, between Steven C. Hodges, Jimmy G. Hodges, Kenna Hodges and Alix Resources Corp. whereby the company has been granted an option to acquire a 100-per-cent interest in the LV claims located in Nevada. The aggregate consideration is $112,500 (U.S.) and one million common shares payable (to each of Jimmy Hodges and Steve Hodges as to 500,000 shares) over a two-year period.
Dan Proctor will receive a finder's fee of 50,000 common shares issuable upon exchange approval, and an additional 25,000 common shares and $1,250 (U.S.) on the 12-month anniversary, conditional upon the company having made of payments and share issuances required.
This new appointment is VERY important addition to AIX
ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased to welcome Gerhard Jacob to its Board of Directors. Mr. Jacob is a seasoned professional with almost 30 years of experience in the mining and exploration industry. He has worked and evaluated numerous projects around the globe plus has extensive management experience. During his career Gerhard served on the board of several junior companies and as a lead advisor. His most recent directorship was with Pure Energy Minerals and has worked on lithium projects since 2011. Mr. Jacob holds an MSc. in Geology /Geochemistry from the University of Goettingen, Germany.
“We are very happy to welcome Mr. Jacob to our Board. His lithium experience from being on Pure Energy’s Board is a tremendous asset for us.” Stated Mike England, President of Alix Resources
Alix Resources is a junior mining exploration company focused on seeking and acquiring lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company. The Company is also exploring the Electra Project in Sonora, Mexico, consisting of two strategically located concessions, contiguous to Bacanora Minerals' Sonora Lithium Project. The Company’s Joint Venture partner on the Electra Project is global lithium developer Lithium Australia NL, whom are developing the Sileach™ processing approach for recovering lithium from silicate minerals including spodumene and mica.
This could be the making of a major company if futher assays confirm the lithium deposit
Keep your fingers and all else crossed
"ALIX INTERSECTS + 1,000 PPM LITHIUM IN THE 1ST DRILL HOLE ON ITS AGUA FRIA LITHIUM PROJECT, SONORA MEXICO
Alix Resources Corp. has provided the results of the first reverse circulation (RC) hole which intersected two intervals of over 1,000 parts per million (ppm) lithium (Li) on the Agua Fria target, of the Electra project in Sonora, Mexico. Highlights to date include:
The first vertical hole, AF-17-001, was drilled to a depth of 126 meters, intersecting two intervals of +1,000 ppm Li in clay-bearing volcanogenic sediments, including 33meters from 3 to 36 meters averaging 1058ppm Li, and 21meters from 54 to 75 meters averaging 1043ppm Li.
Assays over 1,000 ppm are significant, and represent the cut-off grade used by SRK Consulting (UK) Limited on the neighboring La Ventana lithium deposit, owned jointly by Bacanora Minerals Limited (70%) and Rare Earth Minerals PLC (30%);
Drilling on the Agua Fria project is progressing well with five completed holes totaling 625 meters. Assays have only been received for hole AF-17-001;
The Agua Fria projects is being undertaken by a local drilling contractor using a tracked mounted RC rig. The project is staffed by a multinational crew from Canada, Australia and Mexico;
The Agua Fria project is believed to be the first, comprehensive, fielding test of a portable Laser Induced Breakdown Spectroscopy (LIBS) using a SciAps Z300 instrument pre-calibrated for material type and lithium grade to provide "real time" assay verification.
Li assays have been received from one drill hole (AF-17-001), and the initial correlation between obtained laboratory values to concentrations determined by the SciAps Z300 instrument is relatively good and very encouraging. Additional applications are being considered to expedite other targets;
The Agua Fria project envisions a 3,000 meters reverse circulation drilling program investigating a 5 kilometer-long sedimentary unit hosting lithium-enriched clay layers.
Mike England, president of Alix, stated: "We are very pleased with the results from the first drill hole and the drill progress to date the Agua Fria lithium clay targets. With an international team of Canadian, Australian and Mexican personnel, the objective is to discover lithium-rich clay deposits similar in grade and size to that of the Bacanora/REM La Vantana deposit."
Alix and Lithium Australia ("LIT")(LIT - ASX) further announce that LIT has now satisfied all aspects for its Stage 2 earn-in to 49%. Alix has requested that the Phase 3 JV earn-in be accessed early to ensure the maiden drill campaign is not frustrated for lack of funds resulting in the two Companies amending Phase 3. The remaining 16% earn-in will be staged as listed below and subject to drill results, LIT retains the right to determine the key aspects of the drilling campaign:
LIT can earn a further 16% interest in the Project (65% cumulative) in three stages as listed below:
% earned Expenditure Shares Cash Cumulative %
5 343,750 468,750 78,125 54
5 343,750 468,750 78,125 59
6 412,500 562,500 93,750 65
16 1,100,000 1,500,000 250,000
Additionally, the Company also wished to announce the resignation of Tracy Weslosky from its Board of Directors to better focus on other venues. Alix thanks Ms. Weslosky for serving as a Board member and looks forward to continuing working together in the future.
The technical contents of this release were approved by Dr. Michel Boily, PhD, P.Geo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
About Alix Resources
Alix Resources is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
"
Another new project for AIX
"ALIX ACQUIRES SOUTHERN NEVADA LITHIUM PROPERTY
Alix Resources Corp. has acquired a 100-per-cent interest in a newly staked property located in southern Nevada from arm's-length vendors. The property comprises 15 unpatented mineral claims located on BLM (Bureau of Land Management) ground comprising 300 acres as well as 10 newly located unpatented mineral claims comprising 200 acres to give a total acreage of 500 acres.
Alix is an active explorer of lithium in clay and hectorite host rocks, with an active project in Sonora, Mexico, currently being drilled (see press release dated March 27, 2017). The company's joint venture partner on the Agua Fria project (Electra) is global lithium developer Lithium Australia NL, which is developing the Sileach processing approach for recovering lithium from silicate minerals including spodumene and mica.
President Mike England stated: "This property represents a significant opportunity for the company based on our knowledge and experience dealing with lithium in hectorites and our association with Lithium Australia. It is early days on this project; field crews are on site and more information will be forthcoming in the near future."
Cumulative terms of the deal call for the company to pay $112,500 (U.S.) in cash consideration, issue one million common shares and incur a total of $250,000 (U.S.) of work expenditures on the property. A 2-per-cent net smelter return royalty will be granted to the vendors, 1 per cent can be purchased back by the company for $1-million (U.S.).
Alix Resources is a junior mining exploration company focused on seeking and acquiring lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the company."
ALIX AMENDS JACKPOT LITHIUM PROPERTY PURCHASE AGREEMENT
Alix Resources Corp. has made an amendment to the property purchase agreement for the acquisition of the Jackpot lithium property, located about 140 kilometres north-northeast of Thunder Bay, Ont., from arm's-length vendors (see press release dated April 13, 2016).
Original cumulative terms of the deal call for Alix to issue 2.4 million shares plus cause expenditures of $350,000 on the property over a 2 year period. In addition a 1.5% NSR will be granted to the vendors with the Company able to purchase back one per-cent for one million dollars.
The agreement has been amended to waive the work commitment in exchange for which the Company will issue an additional 300,000 shares to the Vendors increasing the total amount of shares issued for the Property to 2,700,000. This agreement is subject to TSXV approval.
Alix Resources is a junior mining exploration company focussed on seeking and acquiring lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company. The Company is also exploring the Electra Project in Sonora, Mexico, consisting of two strategically located concessions, contiguous to Bacanora Minerals' Sonora Lithium Project. The Company's Joint Venture partner on the Electra Project is global lithium developer Lithium Australia NL, whom are developing the Sileach(TM) processing approach for recovering lithium from silicate minerals including spodumene and mica.
FINALLY DRILLING TO STart in Mexico!!
–ALIX RESOURCES CORP. (“Alix” or the “Company”)(AIX-TSX:V) (37N–FRANKFURT) is pleased to announce the commencement of the maiden drill program, in partnership with Lithium Australia (49%), on its Agua Fria property, Electra Project located in Sonora, Mexico. The planned program envisions approximately 3,000 meters of reverse circulation drilling over a 5 kilometer prospective strike length of sedimentary units hosting lithium-enriched clay horizons. Lithium mineralization on the Agua Fria project is similar to that of the nearby Sonora lithium project, owned by Bacanora Minerals Ltd. (BCN-TSX:V), and Rare Earth Minerals PLC (REM).
Highlights of the Agua Fria project include:
Trench samples demonstrating elevated lithium grades (up to 1,340 ppm)
Lithium-mineralized clays have been sampled and mapped for over five kilometers on strike
Metallurgical testing is in progress under the direction of Lithium Australia. The metallurgy shows good potential to develop simple beneficiation strategies to recover lithium-bearing components from the “clay” material, directed at producing a higher grade concentrate prior to process, subsequently reducing the treatment costs.
This drill program is believed to be the first, “field test” application of Laser Induced Breakdown Spectroscopy (LIBS) technology, developed in conjointly by Lithium Australia and Sci-aps. This new technology will allow for real-time field analysis of drill cuttings
Lithium Australia is the funding partner with Alix, and has increased its equity position to 49% on the Electra Project, which includes the Agua Fria property.
In addition to significant lithium values, the clay horizons at Agua Fria are anomalous in potassium. On the nearby La Vantaa deposit, Bacanora reports indicate potassium (K) sulfate (K2SiO4), as a valued by-product to their economic models, expected to be sold as a high-quality Sulfate of Potash ("SPO") fertilizer.
Mike England, President of Alix, stated: "We are very pleased to be initiating the maiden drill program on the Agua Fria lithium clays discovery. With an international team of Canadian, Australian and Mexican personnel, the objective is to discover lithium-rich clay deposits similar in grade and size to that of the Bacanora/REM La Vantana deposit."
The technical contents of this release were approved by Dr. Michel Boily, PGeo, a qualified person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
The Company further announces the resignation of Christopher Ecclestone as its CEO. Mr. Ecclestone will remain with the Company in an Advisory Board role.
About Alix Resources
Alix Resources is a junior mining exploration company focused on seeking and acquiring world class lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company.
Our partner LIT has announced they will do significant drill program starting in a week or so.The prperty is in Mexico and AIX holds a 51% interest. Positive results will be atimulus for AIX
Share prices showing strength on large volume. Still no news but something must be brewing!!
Financing announced! over $1/2 million added to treasury
Since LIT Australia funds the Mexican holdings, this financing should be used on AIX's other projects in Canada. With more to come from flow through sales
ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces that further to its news releases dated February 3, 2017, January 31, 2017 and January 24, 2017, it has completed the first tranche of a non-brokered flow through private placement of 2,585,000 units at a price of $0.07 per unit for gross proceeds of $180,950 (the “FT Offering”). Each FT unit consists of one flow through common share (the “Shares”) and one half non-flow through Share purchase warrant of the Company. Each whole warrant will entitle the holder to acquire one Share of the Company at a price of $0.10 per Share for a period of 24 months from the date of issuance.
The Company paid a cash commission to the finders on the FT financing totalling $14,476, issued 129,250 finder’s Shares and issued 129,250 finder’s warrants exercisable for 12 months at $0.07. The Shares and warrants issued pursuant to the private placement and any Shares issued on exercise of the warrants are subject to four-month resale restriction that expires on June 10, 2017.
Additionally the Company has also completed the non-brokered non-flow through private placement of 7,915,000 units at a price of $0.05 per unit for gross proceeds of $395,750 (the “NFT Offering”). Each NFT unit consists of one common share (the “Shares”) and one Share purchase warrant of the Company. Each warrant will entitle the holder to acquire one Share of the Company at a price of $0.10 per Share for a period of 24 months from the date of issuance.
The Company paid a cash commission to the finders on the NFT financing totalling $18,950, issued 171,250 finder’s shares and issued 276,250 finder’s warrants exercisable for 12 months at $0.05. The Shares and warrants issued pursuant to the private placement and any Shares issued on exercise of the warrants are subject to four-month resale restriction that expires on June 10, 2017.
The Company has received conditional approval for the private placements from the TSX Venture Exchange.
Alix Resources is a junior mining exploration company focused on seeking and acquiring lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the Company. The Company now has active lithium projects in Mexico, Ontario and Quebec.
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