Alix And Geo Announce Drilling To Commence At Wapawekka Lake Coal Project, Saskatchewan
ALIX AND GEO ANNOUNCE DRILLING TO COMMENCE AT WAPAWEKKA LAKE COAL PROJECT, SASKATCHEWAN
March 26th, 2009, VANCOUVER, B.C. – ALIX RESOURCES CORP (AIX-TSX:V) and GEO MINERALS LTD. (GM-TSX:V) (The “Companies”)
are pleased to announce that permits to drill up to 10 holes at their Wapawekka Lake Coal Project have been granted by the Saskatchewan Ministry of Environment and CorePro Drilling Inc. is now mobilizing a drill rig to the site. The Wapawekka Lake Coal Project drilling program is expected to begin tomorrow. The first phase drill program in Manitoba, announced March 12th, 2009
At the Wapawekka Lake Coal Project, a field visit by Company geologists (as announced November 3rd, 2008
) reported the discovery a coal seam exposed in the walls of a nearby open pit area, approximately 200 to 300 meters south of the coal outcrop on the banks of Wapawekka Lake. The coal seam exposed in the pit area walls is interpreted to be the surface expression extension of the coal seam observed in the banks of Wapawekka Lake, which argues for coal seam continuity on the Property.
The area south of Wapawekka Lake and the shores of Wapawekka Lake have been identified by Pearson in 1961, and reported by Pearson in “Silica Sand and Coal Occurrences on Wapawekka Lake” as being of Cretaceous age. Within this report Pearson states "The coal outcrops at Wapawekka lake...may indicate the northern edge of a coal field lying to the south, southwest and west of Wapawekka Lake." Subsequent to this report, Anglo American drilled an exploratory hole outside of the current Property boundaries in 1969, 18 miles due south of the Wapawekka Lake outcrops that intercepted 80 feet of coal at a depth of 627 feet, reported in assessment report 73I0001. The current drilling program targets the up-dip, shallower expression of these coal measures.
Recent information from GSC paper 89-4 written in 1989 by G.G. Smith indicates the coal was misidentified as Lignite in the Wapawekka pit. This coal is identified as sub-bituminous C. The Company intends on verifying this should coal be intercepted during this drill program.
Alix Resources Corp. has arranged a non-brokered private placement of up to five million units at a price of 12 cents per unit for gross proceeds of up to $600,000.
Each unit consists of one common share in the capital of the company and one half common share purchase warrant. Each whole warrant entitles the holder to purchase one additional share at a price of 15 cents per share for a period of 12 months from the date of issuance.
The proceeds from the private placement will be used to pay for drilling and for working capital.
A finder's fee will be payable on the private placement in accordance with the policies of the TSX Venture Exchange. The private placement is subject to TSX Venture Exchange acceptance.
The technical contents of this release were approved by Geo Minerals director, and qualified person as defined by National Instrument 43-101, Paul Gray, P.Geo.
Alix Resources and Geo Minerals are each junior exploration companies actively seeking mineral and energy opportunities for the benefit of all our stakeholders.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President
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