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

Alix Resources Corp.

October 06, 2014 14:12 ET

Alix Encounters Promising Gold and Copper Values at Sheslay South Fork

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 6, 2014) - ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX)(FRANKFURT:37N) is pleased to announce results from a preliminary reconnaissance exploration program completed this summer in the Sheslay district, northwest British Columbia. A crew was mobilized to the area in late June and completed a prospecting and soil sampling program on the South Fork Property, which includes the VI and Halt showings, and on the North Cap East and North Cap West Properties. Alix also holds the North Hackett claims, contiguous to the northeast boundary of Doubleview Capital Corp.'s Hat Cu-Au porphyry discovery.

The program has confirmed, enhanced and expanded the original 1982 Halt soil geochemical gold and copper anomalies and additional exploration is planned to define the extent and source of the anomalies for upcoming drill targets.

A soil sample grid near the Halt showing within the South Fork Property, consisting of 49 samples, returned anomalous gold values up to 106 ppb and copper up to 193 ppm. A total of 6 samples returned greater than 40 ppb gold. Line 400+0mN (at 6347600mN) returned up to 106 ppb gold with an average of 44 ppb over 900 meters E-W. Line 800+0mN (at 6348000mN) returned up to 43 ppb gold with an average of 25 ppb over 700 meters E-W. Samples were taken every 100 metres along a series of east-west soil geochemistry lines spaced 400m apart, just north of the Halt showing (MINFILE No 104J 058).

A limited soil sampling program on the northern portion of the property returned an anomalous sample containing 56 ppb gold and 158 ppm copper. Six out of 10 total samples returned an excess of 100 ppm copper, and of those, 3 samples returned >150 ppm copper, with a peak value of 193 ppm.

Gold values over ~40 ppb gold and/or copper values over ~100 ppm are considered to be significantly anomalous.

Maps illustrating the soil geochemistry results may be found at: http://www.alixresources.com/index.php?page=projects&project=13

Note: Soil anomaly widths are not necessarily indicative of mineralization in bedrock. However, the extent of the gold and copper values is interpreted to be very encouraging.

Limited outcrop sampling of 8 rock samples was also conducted on the three properties, however sampling was hindered due to snow cover and no anomalous values were returned. Soil sampling on the North Cap properties was very limited and no anomalous values were returned. Carbonate alteration was noted on the North Cap West property. Additional exploration on the North Cap properties is warranted and planned.

About the South Fork Property

The Halt geochemical anomaly, located within the eastern area of the South Fork property, is interpreted to be underlain by basalt flows, ryholitic flows, tuffs and breccias, which have been silicified and clay altered. The previous (1982) work indicated anomalous soil samples that returned a high of 75 part per billion (ppb) for gold and 160 parts per million (ppm) for copper (Geological and Geochemical Report on the Halt Property, 1982, Minfile #10423, 27p.), from samples taken in an east-west direction along the Tahltan River, and north-south along a small tributary. Based on 17 soil samples, the previous work indicated a gold anomaly threshold of 40 ppb and 100 ppm for copper. The Halt gold and copper soil geochemical anomaly is only 1.0-1.5 kilometers from the deactivated "Golden Bear" access road.

The VI showing, located centrally within the claim block, is interpreted to underlain by Upper Triassic Stuhini Group feldspar porphyry, augite porphyry basalt flows, tuff and argillite that have been intruded by a Late Triassic and Early Jurassic diorite to granodiorite stock. A historic float sample from the east side of Canyon Creek consisted of feldspar-porphyritic volcanics with disseminated pyrite, pyrrhotite and chalcopyrite and a copper value of 2,290 ppm (BC Minfile #21209).

Outcrop exposure is limited away from the banks of the Tahltan River. A peak gold value of 106 ppb gold was returned and 6 samples were +40 ppb Au, considered to be significantly anomalous for gold, with +100 ppm Cu. The east-west soil geochemistry line at 6437600N averaged 44 ppb Au over a width of 900 meters, and at 6438000N averaged 25 ppb Au over a width of 700 meters.

About the North Cap Properties

The geology of the North Cap West property consists of Upper Triassic Stuhini Group feldspar porphyry, augite porphyry basalt flows, tuff and argillite in the southern portion of the claim block, which is overlain by basalt flow and fragmental units of the Miocene to Recent Level Mountain formation in the north. Much of the southern boundary of North Cap West is contiguous to Garibaldi Resources Corp.'s Grizzly West porphyry target which is actively being explored.

The North Cap East property is predominately underlain by Miocene to Pleistocene aged Level Mountain basalt. The southern boundary of the North Cap East property is contiguous to Prosper Gold Corp.'s Star Copper-Gold Porphyry Project and is approximately 2,000 meters from the Star North target.

All properties are 100% owned by Alix, and comprise a portion of the Company's large Sheslay holdings in this rapidly emerging copper-gold porphyry district.

The technical contents of this release were approved by Case Lewis, P.Geo., Director to Alix and a Qualified Person as defined by NI-43-101. The properties have not been the subject of a National Instrument 43-101 report, and Mr. Lewis has not verified the technical data disclosed in this release.

Alix is a junior exploration company actively seeking mineral opportunities for the benefit of all of our stakeholders. For further information we invite you to visit our web site 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
    1-604-683-3995 or Toll Free: 1-888-945-4770
    1-604-683-3988 (FAX)
    www.AlixResources.com