PROJECTS
Anchor Lithium Project
Project Snapshot
Ownership:
ALX 100%
Size:
Comprises 4 mineral licenses totaling 2,816 Ha (6,958 acres)
Location:
Nova Scotia
In October 2022, ALX announced the acquisition of the Anchor Lithium Project (“Anchor”, or the “Project”) by online staking. Anchor is located within the Meguma Terrane of central and western Nova Scotia, Canada. Anchor consists of mineral licences totaling approximately 2,816 hectares (6,958 acres) in an emerging lithium exploration district known to host lithium-bearing pegmatites. The Project is 100%-owned by ALX with no applicable royalties.
Highlights of ALX's Anchor Lithium Project
- Anchor is underexplored for lithium-bearing pegmatites. Historical exploration within the Meguma Terrane focused mainly on gold and the mining of tin and other critical metals.
- A regional review and analysis of Meguma Terrane lake sediment geochemistry was completed on behalf of ALX by Korr AI of Halifax, Nova Scotia. Korr AI’s review identified several areas considered prospective for lithium-bearing pegmatites based on Rubidium and Lithium anomalies recognized in ordinary kriging interpolations of the geochemical dataset.
- Infrastructure for mineral exploration is excellent, with all-weather roads, power, personnel and supplies readily available.
- Exploration success has been realized by several junior exploration companies in the region where ALX has staked the Anchor claims, most notably by Champlain Mineral Ventures Ltd., which in 2022 produced a National Instrument 43-101 (“NI 43-101”) compliant technical report and Mineral Resource Estimate for the Brazil Lake Pegmatite Deposit (see details in “About Anchor” below).
- A staking rush occurred in the summer and fall of 2022, during which ALX acquired the original claims comprising Anchor. Other junior exploration companies such as Brunswick Exploration are also active in the region.
ALX’s exploration goal at Anchor is to discover new lithium-bearing pegmatites similar to those already discovered in the Meguma Terrane.
On June 8, 2023, ALX announced the results of a biogeochemical survey carried out at Anchor in early 2023.
ALX initiated surface work at Anchor in late 2022 on the Drake sub-project and carried out a biogeochemical sampling survey in the form of tree bark sampling. This geochemical technique has proved to be successful in areas of the Meguma Terrane where there is little to no outcrop exposure. ALX’s geological team collected one hundred and thirty (130) 50-gram bark samples from red spruce trees in a 1.0 kilometre grid pattern. The analytical results were received in May 2023 and show a pronounced lithium-cesium-tantalum (“LCT”) “stacking” anomaly in the southern portion of the ALX claim block. Other LCT anomalies were identified in the central part of the Project from the biogeochemical survey that deserve follow-up work.
 Anchor Biogeochemical Sampling Locations |  Lithium Anomalies at Anchor |
 Cesium Anomalies at Anchor |  Tantalum Anomalies at Anchor |
The 2023 biogeochemical survey results in overburden-covered terrain successfully identified new LCT targets at Anchor. The survey results have revealed eleven lithium anomalies, mostly pooled into two zones that warrant further work, some with coincident cesium and tantalum anomalies. Rubidium also showed elevated values across the Anchor property.
About Anchor
Anchor consists of mineral licences totaling approximately 2,816 hectares (6,958 acres). This emerging lithium district in Nova Scotia hosts the Brazil Lake Pegmatite Deposit (“Brazil Lake”), which is located approximately 10 kilometres (6.6 miles) due south of Anchor, and is owned by Champlain Mineral Ventures Ltd. (“Champlain”). Champlain, a private Nova Scotia company, has published a NI 43-101 technical report on Brazil Lake dated April 8, 2022 that states the following calculated mineral resource estimates:
- Measured & Indicated: (Combined Pit Constrained and Underground Constrained): 553,000 tonnes grading 1.3% Li2O. 1
- Inferred: (Combined Pit Constrained and Underground Constrained): 381,000 tonnes grading 1.48% Li2O), at a combined cut-off of 0.48% Li2O and 0.98 Li2O.1
National Instrument 43-101 Disclosure
The technical information contained herein has been reviewed and approved by David Murray P.Geo., President of Resourceful Geoscience Solutions, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.
Geostatistics from the Brazil Lake lithium deposit in quoted in this news release were taken directly from publicly-available disclosure. Management cautions that other historical results were collected and reported by operators unrelated to ALX and have not been directly verified nor confirmed by its Qualified Person, but create a scientific basis for ongoing work in the Anchor project area. Management further cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on ALX’s mineral properties.