[Marinir] {Disarmed} Alix (TSX-V: AIX) Drills 256 Metres of 1.50 g/t Gold
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Wed Oct 12 14:53:47 CEST 2011
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ALIX DRILLS DRILLS SIGNIFICANT INTERVALS 256 METERS OF 1.50 G/T AND 93
METERS OF 1.39 G/T GOLD AT THE GOLDEN ZONE BRECCIA PIPE DEPOSIT, ALASKA
ALIX RESOURCES CORP. ("Alix" or the "Company") (AIX-TSX:V)
(37N–FRANKFURT) is pleased to announce results from 2011 drilling
at the Golden Zone Breccia Pipe deposit at the company's
gold-silver-copper property in the Valdez Creek Mining District in
south-central Alaska.
Two HQ diamond drill holes were drilled in 2011 at the Breccia Pipe
deposit at the 10,000 hectare (24,500-acre) property. Drill Hole
GZBX11-003 intercepted 256.0 meters (840 feet) from the surface to a
depth of 256.0 meters grading 1.50 g/T Au, 12.15 g/T Ag and 0.11% Cu.
Drill Hole GZBX11-004 encountered 92.9 meters (305 feet) from depths of
105.2 to 198.1 meters grading 1.39 g/T Au, 6.15 g/T Ag and 0.06% Cu. The
table below includes these data from these two sections and also
composites of higher grade intercepts within them.
Drill Results from GZBX11-003 & GZBX11-004
DDH from
(m) to
(m) length
(m) Au1
(g/T) Ag2
(g/T) Cu2
(%)
GZBX11-003 0.0 256.0 256.0 1.50 12.15 0.11
including 7.6 16.8 9.1 1.44 77.47 0.76
and 53.3 115.8 62.5 2.56 8.36 0.08
including 53.3 57.9 4.6 4.51 3.60 0.02
and 70.1 82.3 12.2 3.38 13.55 0.06
and 89.9 97.5 7.6 5.04 13.00 0.05
and 108.2 114.3 6.1 4.98 17.05 0.08
and 125.0 132.6 7.6 4.47 12.68 0.08
and 146.3 166.1 19.8 2.31 15.78 0.15
and 204.2 208.8 4.6 2.40 27.43 0.26
and 234.7 239.3 4.6 2.25 5.60 0.05
GZBX11-004 105.2 198.1 92.9 1.39 6.15 0.06
including 111.3 132.6 21.3 3.20 7.75 0.06
and 137.2 143.3 6.1 2.08 2.38 0.01
and 187.5 198.1 10.7 2.90 12.37 0.05
1 analyses on 30-gram nominal samples by ICP-AES (ALS Labs Au-ICP21) for
<10.0 gm="" t="" and="" by="" fire="" assay="" gravimetric="" finish=""
on="" 30-gm="" sample="" als="" labs="" au-gra21="" for="">10.0 gm/T.
2 analyses on 1-gram nominal samples by ICP-AES (ALS Labs ME-ICP41).
The two holes were also anomalous in arsenic and bismuth with numerous
arsenic analyses in excess of 10,000 ppm in each and numerous anomalous
bismuth analyses ranging up to 99 ppm in GZBX11-003 and up to 85 ppm in
GZBX11-004.
The two 2011 holes in the breccia pipe were drilled to test zones of the
pipe with only limited previous drilling and to test for mineralization
in the breccia pipe at depths below the zone of the vast majority of the
historic drilling as well as to collect samples for future metallurgical
and acid-base accounting studies. The two drill holes were drilled in a
plane along the 5050 Golden Zone mine grid section, and together they
extend the known mineralization downward some 110 meters (360 feet) in
that section. The 2011 drilling was also intended to test for
porphyry-type mineralization and alteration below the breccia pipe, but
as both of the 2011 holes were lost in poor drilling conditions, this
goal was not fully accomplished.
Drill Hole GZBX11-003 was collared near the center of the breccia pipe
outcrop and was drilled "down the throat of the pipe" at an incline -730
on a 450 (due northeast) azimuth. The hole was drilled to 309.2 meters
(1014.5 feet) and was in mineralized brecciated porphrytic monzodiorite
and brecciated monzodiorite from the collar to 253.9 meters (833 feet)
where the brecciated rock gradually transformed into porphyritic
monzodiorite, monzodiorite and gabbro (dikes) with mineralized veins and
veinlets that persisted to the bottom of the hole. The hole was
generally strongly to moderately silicified and argillic-altered with
argillation becoming dominant in the lower portions of the hole;
carbonate alteration was also identified through much of the hole.
Pyrrhotite, arsenopyrite, pyrite, chalcopyrite and minor sphalerite were
the primary sulfide minerals and varied from weak to strong in the hole.
Drill hole GZBX11-004 on the northeast margin of the breccia pipe
outcrop was a vertical hole drilled to 264.9 meters (869 feet) and was
collared approximately 83 meters (272 feet) due northeast and 33.5
meters (110 feet) in elevation below that of GZBX11-003. GZBX11-004 was
designed to test the margin of the breccia and the adjacent country rock
in this area. The hole started in brecciated porphyritic monzodiorite to
43.6 meters (143 feet), then passed through a zone of hornfelsed
argillite adjacent to the pipe to 101.8 meters (334 feet), then back
into brecciated porphyritic monzodiorite to 198.6 meters (651.5 feet),
then less brecciated and veined porphyritic monzodiorite and
monzodiorite to the bottom of the hole. Again strong to moderate
silicification and argillation were the dominant alterations with local
carbonate alteration, and again pyrrhotite, arsenopyrite, pyrite,
chalcopyrite and sphalerite were the primary sulfide minerals with
mineralization found both in the breccia and within the adjacent country
rock.
In January of 2011 Alix released an N.I. 43-101 report containing a
revised resource model and N.I. 43-101 compliant resource estimate for
the Golden Zone Breccia by Norwest Corporation (see Alix News, January
20, 2011) indicating the deposit to contain, at a 1.0 g/T cut-off,
3,169,331 tonnes (3,486,250 tons) of measured and indicated material
averaging 3.02 grams per ton Au and containing 279,166 ounces of gold,
1,523,657 ounces of silver and 3,233 tonnes (3,556 tons; 7,112,00 lbs)
of copper. A detailed breakdown of these resources is contained in the
referenced press release, in the N.I. 43-101 report posted on SEDAR and
on Alix' web site www.alixresources.com.
"We are very pleased with the results of the 2011 drilling in the Golden
Zone Breccia Pipe," said Mike England, President and CEO of Alix. "I am
told by our geologists that these data will correlate with the historic
drill data on which our resource model is based and will also expand the
deposit's resource base when incorporated into the resource model."
Alix' 2011 program at Golden Zone is directed by David Hedderly-Smith,
Ph.D., P.G., Alix Director and Golden Zone Project Manager, who is a
Qualified Person as defined by NI 43-101 and who also prepared and
approved the geological and technical information contained in this
release.
Alix Resources Corp. is a junior exploration company actively seeking
mineral opportunities for the benefit of all its stakeholders. For
further information we invite you to visit us at www.alixresources.com.
ON BEHALF OF THE BOARD
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
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that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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"forward-looking statements", and readers are cautioned that any such
statements are not guarantees of future performance, and that actual
developments or results, may vary materially from those in these
"forward-looking" statements.
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