ALX Resources to Buy Electra Nickel Project in Ontario

ALX Resources Corp has executed a definitive agreement for an option to purchase a 100% interest in the Electra Nickel Project located in Shebandowan
ALX Resources to Buy Electra Nickel Project in Ontario
ALX Resources Electra Nickel ProjectALX Resources

ALX Resources Corp has executed a definitive agreement for an option to purchase a 100% interest in the Electra Nickel Project located in Shebandowan Greenstone Belt within the Thunder Bay South Mining District of Ontario, Canada. Electra, formerly known as the Bateman Lake property, is prospective for nickel, copper and cobalt, platinum group elements and gold mineralization. In November 2020, during its period of due diligence on Electra, ALX staked additional claims and expanded the size of the Project by approximately 42% to 148 cell units totaling 3,168 hectares

Electra is located approximately 35 kilometres northwest of Thunder Bay in a fertile exploration district well-linked to highways, roads and trails, and lies near a powerline and the Canadian National Railroad. The past-producing Shebandowan Mine, operated by Inco Ltd from 1972 until 1998, is located approximately 35 kilometres to the northwest of Electra. Production consisted of 9.29 million tons grading 1.75% nickel, 0.88% copper, 0.063% cobalt and 1.83 grams/tonne PGEs.1

ALX considers Electra underexplored, especially in the past decade where little to no modern exploration has been carried out. The presence of komatiitic ultramafic rocks with spinifex textures grading up to approximately 1.0% nickel in surface sampling is reminiscent of the mineralization styles found in the Kambalda District of Australia, and the Raglan district of Quebec.

ALX is planning a helicopter-borne airborne survey at Electra in early 2021 to locate and define geophysical targets related to the many surface showings discovered by historical exploration, followed by ground-truthing of anomalies, the application of leading-edge geochemical surveys, and diamond drilling.

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