MCKenzie Lake Uranium Project

Project Snapshot

Ownership:

ALX 100% – Purchased four claims from a third party vendor and acquired
a fifth claim by staking in 2021. 2% NSR on four of the five claims. 1%
subject to repurchase option by ALX at any time for $1 million.

Size:

5 claims totaling 6,916ha

Location:

Eastern margin of the Athabasca Basin, ~20 km north of the Company’s
Javelin uranium project.

McKenzie Lake Uranium Property Location and Claim Map
McKenzie Lake Uranium Property Location and Claim Map

Regional Significance

  • Located within the Wollaston Domain basement rocks, which host prolific uranium mines such as Key Lake, McArthur River, Cigar Lake and Rabbit Lake.

  • New basement-hosted uranium is actively being explored for both in the Athabasca Basin and in particular at the basin edge, where the Triple R deposit ( was discovered by a joint venture in Patterson Lake Corridor, between ALX’s predecessor company, Alpha Minerals Ltd. and Fission Uranium Corp.

  • Recently, surface high-grade uranium mineralization has been sampled near Javelin by Valor Resources Limited and in exploratory drilling by 92 Energy Ltd. and Baseload Energy Corp.

2022 Exploration Plans

  • To be determined after analysis of data from recently completed geophysical survey programs.

Exploration Summary

  • ALX completed a first-pass, high-resolution airborne magnetic and radiometric survey at Javelin and Mackenzie Lake. The airborne radiometric survey method is the same system used to detect buried uranium-bearing boulders at Patterson Lake in 2011, which contributed to the discovery of Fission’s Triple R deposit in November 2012.

  • In October 2021, ALX commenced a follow-up helicopter-supported ground prospecting program at Javelin and McKenzie Lake. This program targeted radioactive anomalies identified from the airborne radiometric and magnetic survey.

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.