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ALIX AND MILLROCK ANNOUNCE THE START OF EXPLORATION
AT THE DIVIDE PROJECT, SEWARD PENINSULA, ALASKA
June 16, 2008, VANCOUVER, B.C. – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N – FRANKFURT) and GEO MINERALS LTD. (“Geo”)(GM-TSX:V) along with its partner Millrock Resources Inc. (Millrock) is pleased to announce the commencement of its 2008 exploration program at the Divide Project, near Nome, Alaska.
Millrock will operate the exploration program. The total project budget is $1.5 million, with costs borne equally by the partners. The program will consist of:
Philip St. George, Vice-President of Exploration for Millrock, states: "The Divide Project offers an excellent opportunity to develop a high grade, near-surface gold resource. There is a lot of gold in this mineralizing system. The key to discovery of an economically exploitable resource at Divide is identifying places where structures intersect brittle rock units conducive to formation of large vein systems and stockworks. The aggressive program we are about to embark upon will determine whether such zones are present on the property."
The initial target area will be the Stoneman prospect. At this location, visible gold is observed at surface in talus and weathered, broken bedrock. At the Saddle Zone, one kilometer to the southwest, previous trench sampling returned values of 16.21 g/t gold over 16.76 m. However, holes drilled by prior operators immediately undercutting the trench did not provide results of similar magnitude. To resolve the discrepancy, and to expose the mineralization for thorough observation and evaluation, the company will excavate a large trench or open cut. An excavator will be used to strip overburden, and explosives will be used to expose fresh bedrock, and clearly expose the mineralization for channel sampling. The Stoneman and Saddle zones will be undercut with a series of relatively closely spaced reverse circulation drill holes. The objective of this portion of the program is to determine if high grade chutes are present in the vein system, and if so, to delineate the resource. If the results warrant, a bulk sample will be collected in a contingent, late season program. Several holes will be drilled to test a strong soil anomaly between the Stoneman and Saddle zones, and another parallel soil anomaly to the southeast.
The Divide Property is located in the prolific Cape Nome mining district about 45 kilometers north of Nome, Alaska. Access to the property is via the Nome-Taylor highway which crosses the eastern boundary of the 1,424 ha claim block. Millrock can earn a 50% interest in the project from Alix by paying 50% of all costs associated with the Divide Option, and a total of US$500,000 over a five year period. Additionally Millrock will issue 500,000 shares of the Company to Alix.
Underlain by structurally deformed, retrograde greenschist facies metasediments (turbidites and related deep water sediments); the rocks at the Divide Property are of late Proterozoic to Paleozoic age. These same rocks are the source of the alluvial gold deposits of the Nome camp, where approximately five million ounces of gold has been produced by placer mining methods. The Rock Creek Mine, a lode mine currently being commissioned by NovaGold Resources Inc., is located approximately 33 kilometers to the southwest. Gold mineralization at Rock Creek is hosted in a similar geological setting to that at Divide.
Gregory A. Beischer, President & CEO of Millrock is the qualified person who prepared or supervised the preparation of the technical information that forms the basis of this news release.
For further information we invite you to visit us at www.alixresources.com.
Alix is a junior mineral exploration company focused on acquiring potential world class properties in North America.