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June 20, 2016, Vancouver, BC, Canada – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) announces initial results from sampling program at its Jackpot Lithium property (“Jackpot Property”) located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario. Multiple samples ran greater than 2 wt.% Li20.
Approximately 90 kg of spodumene-bearing granitic pegmatite rocks were collected from the surface sent to Actlabs laboratory facilities of Vancouver, BC for assaying. Five of seven samples returned significant lithium values with samples returning in excess of 2% Li2O. Significant results include the following: 0.85%, 2.08%, 1.02%, 2.01% and 2.82% Li2O (lithium oxide).
“Given these samples were taken during the winter and visual observation were hampered by snow cover, we are very encouraged with these initial high-grade results and we are looking forward to exploring the potential of the property as we enter the summer exploration season,” stated President and CEO of Alix Mike England. “Finding high-grade spodumene bearing rocks, in conjunction with the encouraging historical diamond drilling results, will help Alix work towards confirming the historical lithium resource on the Jackpot property.”
Lithium was first discovered in 1955 at the Jackpot property in granitic pegmatites. The property covers the Jackpot lithium deposits, described by E.G. Pye in a 1965 report published by the Ontario Depart. of Mines on the Georgia Lake Area. The deposits were tested by a total of 32 holes drilled in 1955 by Ontario Lithium Company Limited and its associated company Conwest Exploration Co. Ltd. The drilling confirmed the presence of at least two spodumene-bearing pegmatite bodies, one at the surface (No. 1) and the other (No. 2) lying directly beneath the No. 1 deposit. Historical resources at Jackpot, comprising only the No. 2 Dyke pegmatite zone, was reported as 2Mt @ 1.09 Li2O estimated in 1956 by Ontario Lithium Company Limited*. The No. 2 pegmatite dyke, which was discovered by diamond-drilling, was intersected at 30 to 100 meters intervals over a strike length of 215 meters and at 30-60 meters intervals over a distance of 365 meters across strike. Dyke No. 2 is 4 to 20 meters thick, averaging 11 meters.
*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.
The Company is currently compiling the public assessment data on the Jackpot and are also sourcing information held privately by companies that acquired the Conwest libraries. A work program is being planned for later in the summer to confirm and expand the lithium resources and showings.
The technical contents of this release were approved by Michel Boily, PhD, P.Geo a Qualified Person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.
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, President, CEO, Director
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