Alix And Geo Announce Completion Of Successful Phase One Drilling On Red Deer Lake Coal Property, Manitoba
ALIX AND GEO ANNOUNCE COMPLETION OF SUCCESSFUL PHASE ONE DRILLING ON RED DEER LAKE COAL PROPERTY, MANITOBA
April 2nd, 2009, VANCOUVER, B.C. – ALIX RESOURCES CORP (AIX-TSX:V) and GEO MINERALS LTD. (GM-TSX:V) (The “Companies”) announce that the Red Deer Lake Coal Property Phase I drilling program has been completed with the following initial results:
The Companies completed four (4) diamond drill holes totaling approximately 440 metres (1,440 feet). These drill holes targeted the near surface, within 150 metres (490 feet) depth, expression of the target Cretaceous Manville Formation on the Red Deer Lake Property. Two (2) out of the four (4) drill holes (RDL-09-01 and RD-09-03; located approximately 3.5 kilometres apart) encountered coal bearing units at depths of approximately 67 meters (220 feet) and 87 metres (288 feet) depths, respectively. Hole RDL-09-02 was abandoned above the target depth due to drilling problems and hole RDL-09-04 (located 2.5 kilometres from RDL-09-03) did not reach the target horizon within its permitted 150 metre (492 foot) depth. Thicknesses of the coal horizons are not well constrained due to core recovery issues, however the Companies geologist estimates the maximum possible thickness of each intersection would be approximately 1.5 metres (5 feet). The Companies geological team halted drilling to allow for sampling and subsequent coal rank determination which will guide Phase II exploration on the property.
The four (4) drill holes completed on the Red Deer Lake Coal Property in March 2009 were collared centrally in the Companies 31,904 hectares (78,836.5 acres) of land position located on the Manitoba-Saskatchewan border between Goldsource Mines Inc.'s (GXS-TSX:V) (“Goldsource”) Saskatchewan Border Property and their Pine River Property in Manitoba; on what Goldsource refers to as their Durango Coal Trend. Goldsource currently has an active coal exploration drill program underway on their Border Property, which lies approximately 30 kilometres from the Company’s Red Deer Lake Coal Property. The Phase I, Red Deer Lake exploration program was designed as a first phase exploration program to assess the Property’s potential to host a coal deposit similar to Goldsource’s Border Property and utilized only existing roads to access and drill the targets. The Companies consider this Phase I program a success in identifying the existence of coal on the Property, and after receiving coal rank analyses, plans to locate additional drill sites further north and west on the Property, closer to Goldsource’s Border Property.
The Company is also in the process of applying for drill permits on its recently announced (see March 6, 2009 press release
) Hudson Bay Property comprised of 4,657 hectares (11,509 acres) situated just south of Goldsource’s new Split-Leaf Coal Discovery (see March 2, 2009 press release).
Additionally, the Companies have a coal drilling exploration program underway at their Wapawekka Lake Coal Project in central Saskatchewan.
Geo Minerals director Paul D. Gray, P.Geo, and a Qualified Person as defined by NI 43-101 has reviewed and approved the information contained in this release.
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
FOR FURTHER INFORMATION PLEASE CONTACT:
Toll Free: 1-888-945-4770
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.