TSXv: AL FSE: 6LLN OTCQX:
ALXEF
VANCOUVER, Jan. 21, 2016 /CNW/ - ALX Uranium Corp.
("ALX" or the "Company") (TSXv: AL; FSE: 6LLN; OTCQX: ALXEF) is
pleased to announce that its Board of Directors has approved
programs and budgets for surface exploration in the winter and
summer of 2016 at five projects within the Athabasca Basin in northern Saskatchewan.
A property portfolio map for the Athabasca Basin is available on the Company's
website at www.alxuranium.com.
The Company continues to evaluate three high priority targets
for follow-up diamond drilling this winter. In the meantime,
management will execute plans for the approved surface exploration
programs, including:
- Hook-Carter Property: A ground Moving Loop Time Domain
Electromagnetic (MLTDEM) survey to define deep conductors in the
Patterson Lake and Carter Lake Corridors. The planned work is along
strike of Fission Uranium Corp.'s Triple R uranium deposit, NexGen
Energy Ltd.'s Arrow Zone and the Spitfire Discovery of
Purepoint/Cameco/AREVA. The Patterson Lake conductive
corridor has demonstrated the potential for world class discoveries
within 10 km to the southwest. For a view of the Hook-Carter
property map click:
http://www.alxuranium.com/assets/docs/home/Hook-Carter-Project.pdf
- Gorilla Lake Property: A ground gravity survey to cover
two targets: the untested northeast and southwest strike extensions
of the main northeast-striking conductive trend at Gorilla Lake,
where the Company intersected basement-hosted uranium in 2008, and
a coincident airborne electromagnetic Ad Tau and magnetic "button"
anomaly approximately 1500 metres south of Gorilla Lake. The
Gorilla Lake Property is located within the Carswell Impact
Structure, and is approximately 10 km north of the past-producing
Cluff Lake uranium mine which
operated from 1980 to 2002.
- Lazy Edward Bay Property: A radon-in-lake survey to
extend to the northeast a previous survey carried out in 2014. The
Lazy Edward Bay Property is located in the southeastern
Athabasca Basin, close to the
regional Cable Bay shear zone, and approximately 60 km east of
Cameco and JCU's Millennium uranium deposit.
- Perch Property: A ground gravity survey to cover a 4 km
long conductor and coincident magnetic low. The Perch Property is
located along the northeastern margin of the Athabasca Basin; uranium targets are at
shallow depth, and there is easy access from the nearby community
of Stony Rapids.
- Newnham Lake Property: A ground Moving Loop Time Domain
Electromagnetic (MLTDEM) survey to define conductive targets in the
southwestern portion of the property. The Newnham Lake Property is
located along the northeastern margin of the Athabasca Basin; a 25 km-long conductive
corridor of shallow uranium targets in the northeastern portion of
the property was explored extensively in the 1970s, prior to the
development of current basement-hosted, structurally controlled
uranium deposits in the Athabasca
Basin.
NI 43-101 Disclosure
The technical information above has been prepared in accordance
with the Canadian regulatory requirements set out in National
Instrument 43-101 and has been reviewed by Sierd Eriks, P.Geo., VP Exploration, a qualified
person.
About ALX Uranium Corp.
ALX Uranium Corp. was formed as the result of a business
combination between Lakeland Resources Inc. and Alpha Exploration
Inc. ALX is based in Vancouver and its common shares are listed on
the TSX Venture Exchange under the symbol "AL", on the Frankfurt
Stock Exchange under the symbol "6LLN" and in the United States OTCQX under the symbol
"ALXEF". ALX is actively exploring a portfolio of early-stage
properties. Technical reports are available on SEDAR
(www.sedar.com) for several of the Company's active properties. ALX
continually and proactively reviews opportunities for new
properties, whether by staking, joint venture or acquisition.
On Behalf of the Board of Directors
ALX Uranium Corp.
"Jonathan Armes"
Jonathan Armes
President, CEO and Director
Cell: 416.708.0243
Ph: 604.681.1568
TF: 1.877.377.6222
Email: jarmes@alxuranium.com
Forward Looking Statements: This news release contains
forward looking statements that are subject to a number of known
and unknown risks, uncertainties and other factors that may cause
actual results to differ materially from those anticipated in our
forward looking statements. Forward-looking statements in this
release include statements regarding the proposed diamond drill
program. In addition to other factors and assumptions which
may be identified in this press release, assumptions have been made
regarding and are implicit in, among other things, the timely
receipt of any required regulatory approvals (including court
approvals). Although we believe the expectations reflected in our
forward looking statements are reasonable, results may vary, and we
cannot guarantee future results, levels of activity, performance or
achievements.
Neither the 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.
SOURCE ALX Uranium Corp.
