ALX Resources Corp. Receives Analytical Results from the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

Core Insights - ALX Resources Corp. has announced the results of its 2024 winter drilling program at the Gibbons Creek Uranium Project, confirming the presence of anomalous uranium and outlining plans for further exploration in summer 2024 [2][4][16]. Group 1: Exploration Program - The 2024 winter drilling program confirmed low-level uranium mineralization in four out of five holes drilled, with significant results including 325 ppm U3O8 in hole GC24-02 and 8,662 cps peak radioactivity in hole GC24-04 [5][14]. - A helicopter-borne vertical transient electromagnetic (VTEM) survey is set to commence in June 2024, covering multiple prospects including Airstrip and Butler Lake, as well as a new target, Gibbons East [4][16]. - Trinex Lithium Ltd. is involved in an option earn-in agreement, allowing them to earn up to a 75% interest in the project through cash payments, share payments, and exploration expenditures [3]. Group 2: Drilling Results - The drilling program aimed to test continuity of uranium mineralization first discovered in 1979, with successful intersections of uranium mineralization in two areas located 500 meters apart [9]. - Notable results include hole GC24-02, which intersected fracture-controlled uranium mineralization at 0.8 meters below the unconformity, and hole GC24-04, which showed the strongest radiometric response with uranium mineralization over 1.1 meters [10][14]. - The geochemical assays indicated uranium mineralization characteristics consistent with previous findings, enhancing the project's potential [19]. Group 3: Project Overview - Gibbons Creek consists of eight mineral claims covering 13,864 hectares (34,258 acres) in the Athabasca Basin, a region known for its historical uranium occurrences [17][18]. - The project is accessible via roads and trails from Stony Rapids, SK, which provides logistical support for exploration activities [18]. - ALX holds an exploration permit valid until October 2025, allowing for extensive drilling and geophysical work [18].