gold/coal player diversifies holdings with another precious metals prospect...hsb
ALIX ACQUIRES YUKON PROPERTY ADJOINING UNDERWORLD’S WHITE GOLD PROJECT
June 11th, 2009, VANCOUVER, B.C. – ALIX RESOURCES CORP (AIX-TSX:V)(37N – FRANKFURT) (The “Company”) announces it has acquired lode quartz mineral claims adjacent to the White Gold Property held by Underworld Resources (UW – TSX:V) located in the Yukon. The Alix Claims are tagged directly to the east of the Underworld Resources Inc. Cathy 150 and Cathy 148 quartz mineral claims and approximately 4 km from Underworlds recently announced (May 26, 2009) discovery of 103 meters of 3.4 g/t Au. Underworld is exploring sediment and vein-hosted gold targets at the 169 sq km (845 claim) White Gold property. Alix’s approximate 500 hectare property has now been completely ring-staked by Underworld, and from GSC mapping by Gordey and Ryan, the Alix claims appear to host similar metasedimentary stratigraphy as the Underworld White Gold Property.
The Company will continue to seek additional claims in the area. Alix is also considering its options with regards to the previously announced private placement (May 26th, 2009).
Alix will pay the vendor, Blair Naughty, $75,000 cash, 700,000 shares of Alix plus a 3% NSR with an option to buy back 1% for $1,000,000. The Company also agrees to spend $250,000 over the next 12 months as a work commitment. This transaction is subject to TSX Venture approval.
Alix will be mobilizing a field crew to the property within a couple of weeks to begin a systematic geological and geochemical survey of the claim block. This work will include detailed silt sampling of streams draining the property, along with rock sampling and geologic mapping. Alix Resources geologists are very familiar with working in the Tintina Gold Belt.
The technical contents of this release were approved by Alix Advisory Board member and qualified person as defined by National Instrument 43-101, Dr. Tom McCandless, P.Geo.
For further information we invite you to visit our website at alixresources.com.
Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all its stakeholders.
ON BEHALF OF THE BOARD
Signed “Michael England”
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. |
