Alix Resources Corp.

Alix Resources Corp.

October 06, 2011 08:00 ET

Alix Announces Results of 2011 Drilling at Riverside Prospect, Golden Zone Property, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2011) - ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX)(FRANKFURT:37N) is pleased to announce results from 2011 drilling at the Riverside prospect at the Company's Golden Zone gold-silver-copper property in the Valdez Creek Mining District in south-central Alaska.

Two HQ diamond drill holes were drilled at the Lower Riverside prospect at the north end of the 10,000 hectare (24,500-acre) property. Both holes encountered the Wells vein, a quartz-sulfide replacement vein in Triassic limestone associated with the monzodiorite porphyry. In 2006 five chip/channel samples taken across the 1.5-meter (5-foot) vein from a trench by Hidefield Gold returned analyses ranging up to 34.6 gm/T Au across 1.49 meters (4.9 feet) and 30.9 gm/T Au across 1.40 meters (4.6 feet) (see Alix news, October 6, 2010).

The two drill holes were both located 35 meters (110 feet) east of the 2006 Hidefield trench at an elevation approximately 10 meters below the trench and drilled back towards the trench at an azimuth of 261°. DDH GZRS11-001 was 76.5 meters (251 feet) deep at an incline of -43.5° and encountered the vein with a 2.4-meter intercept with good chalcopyrite and arsenopyrite mineralization from 24.4 to 26.8 meters (79.9 to 87.8 feet). DDH GZRS11-002 was 153 meters (502 feet) deep at an incline of -69° and encountered the vein with a 1.8-meter intercept from 40.4 to 42.2 meters (132.5 to 138.5 feet), as well as two or three narrower (likely parallel) secondary veins between 43.6 to 45.0 meters (142.9 to 147.7 feet).

A cross-section of the trench and two holes indicates a dip of the northerly striking vein of about 55° to the east between the trench and DDH GZRS11-001 and of about 80° to the east between DDH GZRS11-001 and DDH GZRS11-002. The table below includes composite assay values and estimated true thicknesses of the vein intercepts using these dips with the main mineralized vein intercept in each hole is in bold type.

Drill Results from GZRS11-001 & GZRS11-002
DDH from
GZRS11-001 24.4 26.8 2.4 2.37 14.33 36.50 0.57
including 25.0 26.8 1.8 1.78 19.10 48.63 0.77
GZRS11-002 40.4 46.3 5.9 4.10 4.84 7.92 0.08
including 40.4 42.2 1.8 1.25 11.43 24.57 0.23
and 44.8 46.3 1.5 1.04 3.22 0.60 0.01
1 Estimated true thicknesses in the table are based on presumed geometry between the vein and the drill holes. Substantial additional drilling will be needed before true thicknesses are known.
2 Analyses on 30-gram nominal samples by ICP-AES (ALS Labs Au-ICP21) for <10.0 gm/T and by fire assay & gravimetric finish on 30-gm sample (ALS Labs, Au-GRA21) for >10.0 gm/T.
3 Analyses on 1-gram samples by ICP-AES (ALS Labs ME-ICP41).

The mineralized intercepts also contained anomalous arsenic to >10,000 ppm in both holes and bismuth to 564 ppm in DDH GZRS11-001 and 464 ppm in DDH GZRS11-002.

Alix' geologists consider these Wells vein intercepts of similar values and thicknesses to the 2006 Hidefield surface sampling to be significant and encouraging. The upper intercept in the lower hole (GZRS11-002) is approximately 45 meters (150 feet) below the surface outcrop, suggesting that the vein has potential to hold its width and grade for a good depth and strike length. The Wells vein is very similar to other, thinner, veins with similar grades mapped at the Upper Riverside prospect over 300 meters (1000 feet) to the southwest along the local geologic strike. Several of these veins were also trenched by Hidefield in 2006. Alix also trenched and sampled in this area in 2011 and resampled some of the Hidefield trenches; results from this Alix sampling have not yet been received from the lab. Numerous arsenic and gold soil anomalies are reported in a historic reconnaissance throughout the area between the Wells vein and the Upper Riverside occurrences and continuing to the southwest of the Upper Riverside occurrences.

"We recognize that these occurrences may be small, and while the Wells vein and other mineralized occurrences on the Riverside prospect may not ever account for an ore deposit on their own accord, in conjunction with the development of the Golden Zone Breccia two miles to the south, these local high-grade gold veins at Riverside would almost certainly be mined and could significantly enhance the economics of the overall Golden Zone project," said David Hedderly-Smith, Ph.D., P.G., Alix Director and Golden Zone Project Manager.

In January of 2011 Alix released an N.I. 43-101 report containing a revised resource model and N.I. 43-101 compliant resource estimate for the Golden Zone Breccia by Norwest Corporation (see Alix News, January 20, 2011) indicating the deposit to contain, at a 1.0 g/T cut-off, 3,169,331 tonnes (3,486,250 tons) of measured and indicated material averaging 3.02 grams per ton Au and containing 279,166 ounces of gold, 1,523,657 ounces of silver and 3,233 tonnes (3,556 tons; 7,112,00 lbs) of copper. A detailed breakdown of these resources is contained in the referenced press release, in the N.I. 43-101 report on SEDAR and on Alix' web site

"This first set of results is very encouraging, and we look forward to releasing additional results from this past summer's work at Golden Zone as the data come in from ALS Laboratories and are analyzed and compiled by our geologists," said Mike England, President and CEO of Alix.

Alix' 2011 program at Golden zone is directed by Dr. Hedderly-Smith, who is a Qualified Person as defined by NI 43-101 and who also prepared and approved the geological and technical information contained in this release.

Alix Resources Corp. is a junior exploration company actively seeking mineral properties opportunities for the benefit of all its stakeholders. For further information we invite you to visit us at


Michael England, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alix Resoureces Corp.
    Michael England
    1-604-683-3995 Toll Free: 1-888-945-4770