ALX Uranium Corp. has provided initial results from the Hook-Carter uranium project drilling program which began in mid-February, 2018 (see ALX news release dated Feb. 13, 2018). The drilling program is being operated by Denison Mines Corp. (“Denison”) (TSX: DML, NYSE MKT: DNN) and was originally estimated to include 10,000 metres of diamond drilling.
To date, four holes totaling 2,656.7 metres have been completed, and a fifth hole was lost at 405 metres due to unstable ground conditions. The drill holes completed so far have each exhibited hallmarks of a wide-spread alteration system, with features such as intense desilification of the sandstone with significant core loss associated as well as altered and faulted graphitic metasediments, pervasive bleaching, strong local silicification and hematization, and smoky quartz observed in the basement rocks. Elevated radioactivity was noted in two holes ranging up to 184 counts per second measured on a Mount Sopris 2GHF-1000 &#8212; Triple Gamma downhole probe. Analytical results are pending. To view photographs of selected core samples please click here.
Due to the early onset of warm weather conditions the drilling program has been temporarily suspended, with operations set to resume in May 2018. The hiatus in operations will be utilized to conduct a detailed interpretation of geochemical, spectral clay and structural data in order to assist prioritization of targets.
“Interpretation of the preliminary drill results indicate that we have confirmed the footprint of the Patterson Lake Corridor at Hook-Carter, ” said Sierd Eriks, President and Chief Geologist of ALX. “Denison will continue to explore this highly-prospective trend with a helicopter-assisted program later in the 2018 spring season.”
Exploration at Hook-Carter is operated by Denison Mines Corp. (“Denison”) (TSX: DML, NYSE MKT: DNN). The Project is owned 80% by Denison and 20% by ALX, and is located along the prolific Patterson Lake Corridor &#8212; host to the Triple R uranium deposit (Fission Uranium Corp.), the Arrow uranium deposit, Harpoon, Bow and South Arrow uranium discoveries (NexGen Energy Ltd.), and the Spitfire, Hornet and Dragon uranium discoveries (a joint venture of Purepoint Uranium Group Inc., Cameco Corp., and Orano Canada Inc.). Denison has agreed to fund the first $12.0 million of expenditures at Hook-Carter (see ALX news releases dated October 13, 2016 and November 7, 2016).