Jun. 14, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- ALIX RESOURCES CORP. ("Alix" or the "Company") (TSX VENTURE:AIX)(FRANKFURT:37N) is pleased to announce that the mobilization for its 2011 geologic and drill program at the Company's flagship Golden Zone gold-silver-copper property in the Valdez Creek Mining District in south-central Alaska is underway. The geologic crew moved onto the property the first week of June in preparation for the drill's arrival in early July.
The Golden Zone property consists of the Golden Zone Breccia Pipe and several other intrusion-related gold-copper prospects and showings. Alix recently announced the release of a revised resource model and N.I. 43-101 compliant resource estimate for the Breccia Pipe by Norwest Corporation (see January 20, 2011 news release) indicating the deposit to contain, at a 1 g/T cut-off, 3,169,331 tonnes (3,486,250 tons) of measured and indicated resource averaging 3.02 grams per ton and containing 279,166 ounces of gold, 1,523,657 ounces of silver and 3,233 tonnes (3,556 tons) of copper. At a 0.5 g/T cut off, the Breccia Pipe contains 6,333,100 tonnes (6,966,410 tons) of measured and indicated resource averaging 1.89 grams per ton and containing 349,320 ounces of gold, 1,926,596 ounces of silver and 4,940 tonnes (5,434 tons) of copper. Most of these resources are within170 meters (550 feet) of the surface and should be exploitable by surface mining techniques.
A drilling contract with Core-One Drilling Inc. of Delta, Colorado, calls for a minimum of 1,500 meters (4,920 feet) of HQ core drilling; Alix anticipates drilling 2,500 meters (8,200 feet) or more on the property this summer with $1.5 million currently budgeted for the 2011 Golden Zone program. A deep (approximately 500 meters (1,640 feet)) hole is intended to test the area beneath the Breccia Pipe from which the gold-copper deposit is presumably sourced. Several other drill holes will target a number of smaller but potentially higher grade targets that might add exploitable resources to the property and at least two prospectively large tonnage "porphyry-type" targets. The geologic crew will also be conducting geologic mapping and soil and stream sediment sampling programs to identify other target areas on the 9,700-hectare (24,000-acre) property. Work by Alix this summer will also include the completion of a 400 meter (1,300-foot) airstrip near the camp on the property, as well as a year of baseline water sampling in anticipation of upcoming permitting requirements for the project. A preliminary economic assessment/ prefeasibility study on the existing resource is planned for the winter of 2011-2012.
"We're very pleased to finally be on the ground at Golden Zone and to get a chance for our geologic team to build on the resources there," said Michael England, President of Alix. "While the resources already delineated at Golden Zone are certainly significant, we are very hopeful of adding to them with this year's work."
Alix' 2011 program will be directed by David Hedderly-Smith, Ph.D., P.G. Dr. Hedderly-Smith is a Director of Alix and a Qualified Person as defined by NI 43-101 and also prepared and approved the geological and technical information contained in this release. Dr. Hedderly-Smith will be aided by Dr. Charles C. Hawley, another Alix Director. Dr. Hawley has been associated with the development of the Golden Zone property for nearly 40 years.
Alix Resources Corp. is a junior exploration company actively seeking mineral and energy 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.
Alix Resources Corp.
1-604-683-3995 or Toll Free: 1-888-945-4770