On July 20, 2022, ALX announced the analytical results from the inaugural drilling program at Electra.

The 2022 exploration program began in mid-March 2022 and six of the eight planned holes were completed for a total of 1,155 metres drilled. Two targets remain undrilled because of warming weather conditions that exposed creeks and other wetlands, which impeded surface access. Downhole electromagnetic surveys were completed on two of the first four drill holes to better define the targeted conductors detected by ALX’s 2021 airborne VTEM survey flown by Geotech Ltd. of Aurora, Ontario. A ground electromagnetic geophysical survey was carried out in on an undrilled target, which has provided an improved collar location for follow-up drilling.

Highlights of the 2022 Drilling Program

Nickel – The most notable nickel values occur within holes Elec22-01, Elec22-02 and Elec22-06. These results are interpreted as the peripheral geochemical expression of a much larger mineralizing system.

Electra 2022 Drill Hole Plan Map with Downhole EM Loops

The highest overall concentrations in nickel over significant widths occur in the upper half of hole Elec22-02 and in hole Elec22-06 with anomalous concentrations ranging from approximately 200 ppm to a high of 2,080 ppm.

An increasing nickel content associated with increasing magnesium is common in basaltic komatiitic terranes, not only at Electra but worldwide. The corresponding increase in nickel values versus magnesium oxide (“MgO”) trend is due to the presence of higher amounts of the silicate mineral olivine, which is rich in nickel and MgO.

However, classic magmatic net-textured sulphide concentrations, clasts and blebs are observed at approximately 108 metres in hole Elec22-02, and demonstrate that a magmatic sulphide-forming process was operative in this mineralizing system. This magmatic sulphide horizon also marks a notable break in the underlying upward-increasing nickel trend into a significant nickel depletion interval. The fact that the associated magmatic sulphides are so depleted in nickel suggests that nickel-enriched equivalents may occur elsewhere along strike or down dip from hole Elec22-02. 

Zinc – Wide intervals of anomalous zinc concentrations occur in most of the drill holes. This and the fragmental nature of the volcano-clastic sequences suggest that this is potentially a zinc-rich volcanogenic massive sulphide (“VMS”) environment. The following notable concentrations are:

• Elec22-01: 0.41% zinc over 1.61 metres, from 100.17 to 101.78 metres;
• Elec22-02: 0.35% zinc over 8.89 metres, from 175.0 to 183.89 metres;
• Elec22-03: 0.31% zinc over 5.02 metres, from 162.66 to 167.68 metres;
• Elec22-04: 0.25% zinc over 24.12 metres, from 39.38 to 63.50 metres;
• Elec22-05: 0.27% zinc over 15.3 metres, from 44.70 to 60.00 metres;
• Elec22-06: 0.16% zinc over 7.06 metres, from 152.54 to 159.60 metres.

Platinum and Palladium – The concentration of platinum and palladium is generally less than 15 parts per billion (“ppb”), which is representative for basaltic-komatiites from elsewhere in Canada and Australia. However, of note are the platinum and palladium values near the end of hole in Elec22-06 where a high of 121 ppb platinum and 33 ppb palladium was found in over 0.75 metres from 162 to 162.75 metres. The observation in the drill log for Elec22-06 of disseminated sulphides in the gabbroic host rock suggest that this drill hole should be followed up to a greater depth.

Gold – In hole Elec22-06, 0.444 grams/tonne (“g/t”) gold with an accompanying value of 8.33 g/t silver over 0.68 metres was noted from 61.96 to 62.64 metres in a mudstone unit.

Copper – Two strongly anomalous copper values were found in the drill core: Elec22-05 – 2,050 ppm copper over 0.46 metres from 60.00 to 60.46 metres, and Elec22-06 – 1,375 ppm copper over 0.47 metres from 61.49 to 61.96 metres.

The Electra magmatic-sedimentary geological and geophysical environment is similar to that of other komatiite-hosted nickel sulphide terranes in Canada and Western Australia. The challenges encountered at Electra are similar to those in other komatiitic terranes; i.e., the presence of barren sedimentary and volcanogenic conductive sulphides with high background zinc concentrations.

In the late 1990’s a “nickel-sulphide” geochemical vector was developed in the Kambalda nickel camp of Western Australia. The vector was formulated not to find obvious nickel sulphide mineralization that could be observed directly in drill core, but to point out stratigraphic horizons with chemical signatures suggestive of potential enhanced nickel-copper-PGE sulphide concentrations along strike.  Other than obvious nickel sulphides observed and subsequently assayed from core, potential nickel sulphide horizons can remain hidden (cryptic) and only detected by the application of proven geochemical vectors. ALX continues to evaluate the outcome of the 2022 exploration program by integrating the geological, geochemical and geophysical results in order to determine the best target areas for follow-up drilling. ALX’s drilling permit at Electra is good until March 2025.