Alix Resources Corp.
TSX VENTURE : AIX
FRANKFURT : 37N

Alix Resources Corp.

September 13, 2011 11:05 ET

Alix Completes 2011 Field Program at Golden Zone, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2011) - ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX)(FRANKFURT:37N) is pleased to announce that the company has completed its 2011 field program at the Golden Zone property in the Valdez Creek Mining District in south-central Alaska. The 2011 program consisted of mapping of geology and hydrothermal alteration at several of the prospects on the property, completion of a reconnaissance stream sediment sampling program for the 24,500-acre (10,000-hectare) property, collection of soil samples in grids over several prospects and diamond drilling of the Golden zone breccia pipe and several of the other prospects on the property.

In January of 2011 Alix announced the release of a revised resource model and N.I. 43-101 compliant resource estimate for the Golden Zone Breccia Pipe 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's web site (http://www.alixresources.com/index.php?page=projects&project=1).

Stream sediment sampling consisted of 185 new samples collected from the leasehold and claim block to supplement 118 previously collected samples. An additional fourteen minus-200 mesh stream sediment samples were collected in an orientation survey. Upgraded geologic and hydrothermal alteration mapping was conducted on the GAS, Long Creek, South Long Creek and Geoff's anomaly prospects. A total of 308 soil samples were collected in three grids and a line at the Long Creek, GAS, GAS East and Geoff's South areas.

A total of 1,943 meters (6,376 feet) of HQ core were drilled in 12 holes at the Riverside, Breccia Pipe, GAS, Long Creek and BLT Zone prospects at Golden Zone.

At the Riverside prospect two holes totaling 229.5 meters (751 feet) were drilled to intercept the high-grade (up to ±30 gram/T) Wells vein (see Alix news, October 6, 2010). Both holes encountered the vein (see Alix news, July 25, 2011); true widths in the 2011 drilling are estimated at about 2 meters and 1.5 meters.

Two deep drill holes tested the Golden Zone Breccia Pipe at depth below most of the historic drilling. GZBX11-003 collared near the center of the breccia pipe outcrop was drilled at an incline -73° on a 45° (due northeast) azimuth to 309.2 meters (1,014.5 feet) "down the throat of the pipe." The hole was in mineralized brecciated porphrytic monzodiorite and brecciated monzodiorite from the collar to 253.9 meters (833 feet) where the brecciated rock gradually transformed into porphyritic monzodiorite, monzodiorite and gabbro (dikes) with mineralized veins and veinlets that persisted to the bottom of the hole. GZBX11-004, collared on the northeast margin of the breccia pipe outcrop, was a vertical hole drilled to 264.9 meters (869 feet) and designed to test the margin of the breccia and the adjacent country rock in this area. This hole started in mineralized brecciated porphyritic monzodiorite to 43.6 meters (143 feet), then passed through a zone of hornfelsed argillite to 101.8 meters (334 feet), then back into mineralized brecciated porphyritic monzodiorite to 198.6 meters (651.5 feet), then less brecciated and veined porphyritic monzodiorite and monzodiorite to the bottom of the hole. both of the breccia pipe holes encountered strong to moderate silicification and argillation with local carbonate alteration; pyrrhotite, arsenopyrite, pyrite, chalcopyrite and sphalerite were the primary sulfide minerals with mineralization found both in the breccia and the adjacent country rock. (See Alix news, August 19, 2011).

Three holes were drilled at the GAS prospect. GZGS11-005 was drilled to a depth of 163.7 meters (537 feet) at alteration but only weak mineralization. GZGS11-006 was drilled was collared roughly 600 meters an incline of -60° to the southeast across the Lindfors/BLT zone southwest of the Breccia Pipe. The hole encountered sediments and porphyritic monzodiorite with local moderate south of the breccia pipe and drilled at an incline of -60° to the northwest under an area of mapped intense argillic alteration. The hole was in hornfelsed argillite from the surface to 80.7 meters (265 feet), then monzodiorite to 87.1 meters (285.8 feet), the argillite, siltstone and conglomerate to the bottom of the hole. Moderate to weak argillation and mineralization was encountered throughout most of the hole. Poor drilling conditions and recovery in a highly altered zone near 60 meters required the drilling of a third, vertical hole at GAS. GZGS11-007 was a vertical hold collared 30 meters (100 feet) northwest of GZGS11-006 and drilled to a depth of 77.4 meters (254 feet). The hole was entirely within hornfelsed argillite and encountered weak to moderate pyrite/arsenopyrite mineralization across a 2-meter zone at 67 meters.

Four holes totaling 433.6 meters (1,422.5 feet) at the Long Creek prospect tested a section of mineralized conglomerate on either side of the south-southeasterly flowing creek. Moderate to trace chalcopyrite-pyrite±pyrrhotite mineralization was found in most of the core in these holes. Alteration was generally silicification, often accompanied by carbonatization and less commonly argillation.

Two holes were drilled in the BLT Zone prospect 300 meters northeast of the Breccia Pipe. The first hole, GZBT11-012, was lost at 22 meters (72 feet); the second hole, GZBT11-012a was drilled at an incline of -55° to the southeast across the zone. GZBT11-012a encountered several zones of weak to moderate mineralization, but this hole was also lost at 178 meters (582 feet) before its target depth at some 185 to 200 meters.

Alix has submitted 199 stream sediment, 308 soil, 35 rock chip and 1,279 core samples (including approx. 10% standards and blanks) to ALS Laboratories' Fairbanks prep lab since mid-July, but have to date only started to receive analytical data back from the lab. The company looks forward to releasing information on these analyses as they come in from the lab and are evaluated by staff.

Alix's 2011 program is directed by David Hedderly-Smith, Ph.D., P.G., who is a Director of Alix and a Qualified Person as defined by N.I. 43-101 and who also prepared and approved the geological and technical information contained in this release. Dr. Hedderly-Smith is aided by Dr. Charles C. Hawley, another Alix Director and Q.P. Dr. Hawley has been associated with the development of the Golden Zone property for nearly 40 years.

"We are very pleased at the amount of work we were able to accomplish in our first season at Golden Zone," said Mike England, Company President. "We anticipate encouragement from the incoming analytical results and look forward to taking the Golden Zone property to the next level."

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

ON BEHALF OF THE BOARD

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 Resources Corp.
    Michael England
    President
    604-683-3995 or Toll Free: 1-888-945-4770
    604-683-3988 (FAX)
    www.alixresources.com