GIBBONS CREEK URANIUM PROJECT

Project Snapshot

Ownership:

ALX 100%

Size:

7 claims covering 13,864 ha

Location:

NE Athabasca Basin ~3 km from the Hamlet of Stoney Rapids. Year-round all-weather road access and nearby commercial airport.

Gibbons Creek project map
Gibbons Creek: 2022 Exploration Targeting the Untested Zinger Conductor

Regional Significance

  • The historic Nisto Mine, which produced ~96 tonnes grading 1.38% U3O8 in the 1950s is located on the northwest side of the Black Lake fault near the property.
  • The regionally significant Black Lake Fault found within the Snowbird Tectonic Zone is highly prospective for unconformity-style uranium deposits.
  • Exploration has also identified a significant gold and platinum group metals showing named “Star”.

2022 Exploration Plans

  • Successful community stakeholder engagement with First Nations and other local residents allowed for an approved plan and timetable for completing a winter exploration program.
  • A five hole 2,000m drill program designed to target two areas along the untested Zinger geophysical conductor commenced in March 2022. The Zinger conductor has received extensive airborne geophysical surveys (Mega Tem later followed by a more comprehensive ZTEMTM) and leading-edge deep penetrating Spatiotemporal Geochemical Hydrocarbon (“SGH”) soil survey in 2021.Three hundred and twenty-one samples were collected from a 4.4 km-long grid over a strongly untested Zinger conductor , which provided valuable data for targeting drill locations.
  • The Gibbons Creek drill permit allows for up to 20 drill holes totalling 5,000m, in addition to ground-based geophysics, prospecting, and geochemical sampling to October 2022.
SGH Soil Sampling at Gibbons Creek
SGH Soil Sampling at Gibbons Creek

Exploration Summary 2014-2021

  • Maiden 14 hole drill program totalling 2,550m completed in 2015. Four drill holes encountered anomalous radioactivity near the unconformity. Strong hydrothermal alteration and pathfinder geochemistry (B, Co, Ni) observed.
  • In September 2017, Geotech Ltd. completed a ZTEM™ survey over Gibbons Creek to confirm and update the findings of 2005 Mega Tem survey results carried out by a previous operator.
  • Star Lake gold and platinum group metals showing first discovered by a predecessor company in 2013-14. In 2020, grab samples from outcrop at Star assayed as high as 3.58 g/t Au, 412 ppb Palladium and 122 ppb platinum. It is believed this precious metals showing may be part of a larger mineralized system that extends from the Company’s Firebird Nickel property. Follow-up exploration work will be required to help better define the preliminary findings to date.
ACTlabs SGH case study
Gibbons Creek Uranium Project: Leading Edge SGH Actilabs Case Study

National Instrument 43-101 Disclosure
The technical information on this web page has been reviewed and approved by Sierd Eriks, P.Geo., Technical Advisor to ALX, and/or Jody Dahrouge, P.Geo., a Director of ALX, who are Qualified Persons in accordance with the Canadian regulatory requirements set out in NI 43-101. Readers are cautioned that some of the technical information described on this web page is historical in nature; however, the historical information is deemed credible and was produced by professional geologists/geoscientists in the years discussed.

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