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Alix Resources Corp

Exchange: TSXV Exchange | Apr 27, 2017, 8:34 PM EDT

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Alix Initiates Maiden Drill Program on Its Agua Fria Lithium Project, Sonora Mexico




Alix Initiates Maiden Drill Program on Its Agua Fria Lithium Project, Sonora Mexico



Vancouver, British Columbia (FSCwire) - 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.

 

ON BEHALF OF THE BOARD

 

Michael England

                                                                       

Michael England, President, Director

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770

 

Neither the 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.

 

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions.  Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/alixresources03272017.pdf

Source: Alix Resources Corp. (TSX Venture:AIX)

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