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ALX Uranium Corp starts 2019 drilling program at the Hook Carter Project in Athabasca Basin of Saskatchewan

Mining News - Published on Fri, 11 Jan 2019

Image Source: Investing News Network
ALX Uranium Corp announced that a diamond drilling program is underway at the Hook-Carter Uranium Project located in the southwestern Athabasca Basin of Saskatchewan, Canada. Exploration at Hook-Carter is operated by Denison Mines Corp. The Project lies within the highly-prospective Patterson Lake Corridor and is owned 80% by Denison and 20% by ALX. Sierd Eriks, President and Chief Geologist of ALX, said “Hook-Carter is a large, grassroots project with excellent potential to host economic high-grade uranium deposits across multiple prospective and unexplored trends. Denison’s 2019 program is designed to extend the focus of the 2018 drilling, and represents the completion of the first phase of reconnaissance exploration over a portion of the Patterson Lake Corridor.”

Denison has planned a 6-hole diamond drilling program, totaling approximately 3,900 metres, budgeted at $1.4 million. The objective of the 2019 program is to test additional high-priority geophysical targets identified in the 2017 ground resistivity and electromagnetic surveys on the southwestern portion of the PLC. The 2019 drill targets geographically cover untested portions of each EM conductor on the southwestern portion of the PLC, and favour the eastern edge of the PLC where detailed geochemical analysis of the 2018 drilling results has revealed positive exploration vectors. Completion of drilling at these targets, in addition to the targets drilled in 2018, will provide reconnaissance drill hole coverage of the 2017 geophysical grid at an approximate 1,200 metre spacing along strike.

Drilling in 2018, focused on the 2017 geophysical grid (southwestern portion of the PLC on Hook-Carter), identified zones of interest including reactivated brittle graphitic structures, very prospective alteration assemblages, and promising distal geochemical anomalies. Considering that the PLC hosts multiple EM conductors, and that even the largest deposits can have a plan profile of less than 900 by 200 metres, significant space and potential exists for sizeable deposits on the 2017 geophysical grid area.

Outside of the 2017 geophysical grid area, there remains considerable potential along the PLC to the northeast, and both the Carter and Derkson Corridors located within the Project also have potential for hosting uranium deposits.

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Posted By : Rabi Wangkhem on Fri, 11 Jan 2019
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