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News Release

ALIX ANNOUNCES COMPLETION OF 2011 PROGRAM AT THE GOLDEN ZONE PROPERTY, ALASKA

 

January 5, 2012, VANCOUVER, B.C.– ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT)  is pleased to announce that all data from the Company's 2011 work at the Golden Zone gold-silver-copper property in the Valdez Creek Mining District in south-central Alaska are now in-hand and being reviewed by company geologists and consultants. 

Prospects on the property that were drilled in 2011 included the Riverside, Breccia Pipe, GAS, Long Creek and BLT prospects.  Gold mineralization was found at all of these prospects which stretch in a belt of mineralization over some 6 kilometers (3.5 miles) across the property. 

A first-pass stream sediment sampling program of the 24,500-acre property was completed, and three new soil grids were established on the GAS, Long Creek and Geoff's Anomaly prospects.

Diamond Drilling

Thirteen HQ diamond drill holes totaling 1923 meters (6310 feet) were drilled in 2011 at the property. 

At the Riverside Prospect two holes (GZRS11-001 & GZRS11-002 totaling 229.5 meters [753 feet]) were drilled to intercept the high-grade (up to ±30 gram/T Au) Wells vein (see Alix news,  October 6, 2010) at depth.  Both holes encountered the vein; significant results are tabulated below.  (See Alix news, October 6, 2011 for a further breakdown of data from these holes.)

Drill Results from GZRS11-001 & GZRS11-002

DDH

from (m)

to      (m)

length (m)

est. true thickness (m)

Au1   (g/T)

Ag2   (g/T)

Cu2      (%)

GZRS11-001

25.0

26.8

1.8

1.78

19.10

48.63

0.77

GZRS11-002

40.4

42.2

1.8

1.50

11.43

24.57

0.23

            1  analyses on 30-gram nominal samples by ICP-AES (ALS Labs Au-ICP21) for                                    <10.0 gm/T and by fire assay & gravimetric finish on 30-gm sample (ALS Labs,

                                    Au-GRA21) for >10.0 gm/T.

                2  analyses on 1-gram nominal samples by ICP-AES (ALS Labs ME-ICP41).

In January of 2011 Alix released an N.I. 43-101 report containing a revised resource model and N.I. 43-101 compliant resource estimate for the Golden Zone Breccia Pipe by Norwest Corporation (see Alix News, January 20, 2011) indicating the deposit to contain, at a 1.0 g/T gold cut-off, 3,169,331 tonnes (3,486,250 tons) of measured and indicated material averaging 3.02 grams per ton gold (and containing 279,166 ounces of gold), averaging 16.48 gm/T silver (and totaling 1,523,657 ounces of silver) and averaging 0.10% copper (and totaling 3,233 tonnes [3,556 tons; 7,112,00 lbs] of copper).  A detailed breakdown of these resources is contained in the referenced press release, in the N.I. 43-101 report posted on SEDAR and on Alix' web site www.alixresources.com.  

Two 2011 holes (GZBX11-003 & GZBX11-004 totaling 574 meters [1884 feet]) were drilled at the Golden Zone Breccia Pipe deposit.  Summary data from two long intercepts from GZBX11-003 and GZBX11-004 are shown in the table below.  A further breakdown of these intercepts was included in an earlier press release (see Alix news, October 12, 2011). 

Drill Results from GZBX11-003 & GZBX11-004

DDH

from (m)

to      (m)

length (m)

Au1   (g/T)

Ag2     (g/T)

Cu2        (%)

GZBX11-003

0.0

256.0

256.0

1.50

12.15

0.11

GZBX11-004

105.2

198.1

92.9

1.39

6.15

0.06

The two 2011 holes into the breccia pipe were drilled to test zones of the pipe with only limited previous drilling and to test for mineralization in the breccia pipe at depths below the zone of the vast majority of the historic drilling as well as to collect samples for future metallurgical and acid-base accounting studies.  The two drill holes were drilled in a plane along the 5050 Golden Zone mine grid section, and together they extend the known mineralization downward some 110 meters (360 feet) in that section.  The 2011 drilling was also intended to test for porphyry-type mineralization and alteration below the breccia pipe, but as both of the 2011 holes were lost in poor drilling conditions, this goal was not fully accomplished.

At the GAS Prospect immediately to the south of the Breccia Pipe three 2011 holes GZGS11-005, GZGS11-006 & GZGS11-007 totaling 486 meters (1595 feet) were drilled.  While no overly significant mineralization was encountered in these three holes, several short intercepts in these holes did return encouraging results for gold and silver as shown in the table below.

Drill Results from GZGS11-005, GZGS11-006 & GZGS11-007

DDH

from (m)

to      (m)

length (m)

Au1   (g/T)

Ag2     (g/T)

Cu2        (%)

GZGS11-005

48.8

57.9

9.1

0.22

4.65

0.01

GZGS11-005

66.8

71.6

4.9

0.19

4.14

0.00

GZGS11-005

76.2

80.8

4.6

0.13

0.13

0.00

GZGS11-005

89.9

95.1

5.2

0.66

1.90

0.06

GZGS11-006

30.5

32.0

1.5

0.15

56.30

0.00

GZGS11-006

51.8

53.3

1.5

0.11

1.50

0.01

GZGS11-006

179.2

181.1

1.8

0.14

2.10

0.04

GZGS11-006

213.1

214.0

0.9

0.80

12.00

0.04

GZGS11-007

65.2

66.9

1.7

0.10

0.80

0.06

GZGS11-007

76.2

77.7

1.5

0.11

6.50

0.01

Four holes totaling 434 meters (1423 feet) were drilled from two drill sites to test a stratigraphic section of the "redbeds" at the Long Creek Prospect.  DDHs GZLC11-008 and GZLC11-009 on the west side of Long Creek returned more encouraging results than DDHs GZLC11-010 and GZLC11-011 on the east side with longer mineralized intercepts on the west side.  Still, while the holes did identify gold mineralization within the redbeds, no intercepts above 1 g/T Au were encountered.  The table below includes the mineralized intercepts from these holes.   

Drill Results from GZLC11-008, GZLC11-009 & GZLC11-010 & GZLC11-011

DDH

from (m)

to      (m)

length (m)

Au1   (g/T)

Ag2     (g/T)

Cu2        (%)

GZLC11-008

50.3

51.8

1.5

0.12

17.30

0.47

GZLC11-008

65.7

70.1

4.4

0.30

4.76

0.17

GZLC11-009

29.3

30.5

1.2

0.21

35.20

0.88

GZLC11-009

44.2

45.7

1.5

0.44

4.30

0.11

GZLC11-009

83.8

85.3

1.5

0.19

0.60

0.02

GZLC11-009

93.0

96.0

3.1

0.32

0.15

0.02

GZLC11-009

106.7

112.8

6.1

0.18

1.85

0.10

GZLC11-009

137.2

141.7

4.6

0.29

3.83

0.14

GZLC11-009

149.4

159.1

9.8

0.70

5.21

0.12

GZLC11-010

8.5

10.7

2.1

0.15

5.20

0.12

GZLC11-010

21.3

24.4

3.0

0.22

7.30

0.09

GZLC11-010

35.1

36.6

1.5

0.15

2.20

0.09

GZLC11-011

9.1

10.7

1.5

0.24

5.40

0.11

GZLC11-011

25.9

27.4

1.5

0.12

1.80

0.03

GZLC11-011

44.2

45.7

1.5

0.33

2.50

0.10

GZLC11-011

62.5

64.0

1.5

0.90

3.30

0.12

The final hole of the 2011 program, GZBT11-012 was drilled across the BLT Zone on the northeast side of the breccia pipe.  Historic drilling in this area had encountered high-grade veins and indeed ore was produced from the "Tunnel Vein" in this area during the Golden Zone's brief period of production prior to World War II.  The first effort on this drilling, GZBT11-012 was abandoned at 22 meters (74 feet) in poor drilling conditions.  The drill azimuth was rotated about 100 towards the north and a second hole, GZBT11-012a,  drilled.  This hole with a target depth of 215 meters was also lost (at 178 meters [584 feet]), short of its target.  It did not encounter the "Tunnel Vein" or any other veins, but did intercept three zones of gold mineralization as shown in the table below.

Drill Results from GZBT11-12A

DDH

from (m)

to      (m)

length (m)

Au1   (g/T)

Ag2     (g/T)

Cu2        (%)

GZBT11-12A

74.7

78.6

4.0

0.77

4.50

0.03

GZBT11-12A

99.1

126.8

27.7

0.23

0.93

0.03

GZBT11-12A

135.4

140.2

4.8

0.18

0.52

0.02

Stream Sediment Sampling

In 2006 a previous operator initiated a reconnaissance stream sediment sampling program on the 24,5000-acre property, collecting about 100 stream sediment samples.  In 2011 Alix completed this program with the collection of an additional 212 samples. 

Arsenic appears to be the best "pathfinder" element in stream sediment sampling at Golden Zone.  The stream sediment program shows numerous arsenic anomalies ranging to >10,000 ppm As with two distinct clusters of anomalies.  The "Northeast Cluster" stretches from the GAS/Breccia Pipe area to the northeast across the Mayflower, BLT, Bunkhouse, Lupine, Banner and Riverside prospect areas.  Distinct anomalies are attributable to the GAS, Breccia Pipe, Lupine, Banner and Riverside prospect areas.  Associated anomalous metals in the Northeast Cluster are gold, silver, bismuth, copper, lead and antimony. 

The "Southwest Cluster" contains anomalies in the South Long Creek and Geoff's Anomaly prospect areas.  Associated anomalous metals here are gold (weakly anomalous), silver, bismuth (only rare anomalies), copper (weak), lead and antimony.  There has been no drilling to date in the South Long Creek and Geoff's anomaly areas.

Overall these two clusters of anomalies stretch some 9 kilometers (5.5 miles) across the Golden Zone property. 

A small cluster of gold stream sediment anomalies was also identified in the southwest area of the property.  While arsenic and silver anomalies are absent in this area, bismuth and weak copper anomalies are present.

Soil Sampling

The Golden Zone property has seen extensive soil sampling over the past 40 years  with data on hand from over 2200 samples.  However, much of this historic soil sampling is somewhat suspect due to potential location errors, unknown sampling techniques and the more primitive analytical techniques that were used. 

In 2011 264 soil samples were collected in three new grids and one soil line across a historic grid.  The 2011 samples were collected with 1-meter soil augers from the upper C horizon -- generally from depths of between 25 and 75 centimeters (1 and 2 feet).  Soil grids were collected in the GAS, Long Creek, and Geoff's Anomaly prospect areas.

In areas where the sampling overlapped the 2011 soil samples generally returned results comparable to earlier sampling.  Several areas of anomalous metals were detected in the 2011 sampling.  Anomalous metals included gold, arsenic, silver, copper, lead, bismuth and antimony.

Environmental Studies

In addition to the 2011 exploration work, Alix initiated a water sampling program to acquire baseline data that will necessary to meet permitting requirements in future years.  Three sampling events were conducted in 2011.

"We are very pleased with the results of the 2011 work at Golden Zone and feel that these results well confirm our good judgment in acquiring a substantial interest in the property a year ago," said Mike England, President and CEO of Alix.  "We are currently outlining a program for 2012 to build on these successes."

Alix' 2011 program at Golden Zone is directed by David Hedderly-Smith, Ph.D., P.G., Alix Director and Golden Zone Project Manager, who is a Qualified Person as defined by NI 43-101 and who also prepared and approved the geological and technical information contained in this release.  

Alix Resources Corp. is a junior exploration company actively seeking mineral 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

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770

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.

Statements made in this news release that are not historical facts are "forward-looking statements", and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.

Contact Alix

Local
604-683-3995
Toll-Free
1-888-945-4770
Fax
604-683-3988
Email
info@alixresources.com