PROJECTS

Reindeer Lithium Project

Project Snapshot

Ownership:

ALX 100%

Size:

5 claims totaling ~13,239 ha.

Location:

Northern Saskatchewan
In March 2023, ALX acquired by way of purchase the Reindeer Lithium Project (“Reindeer”, or the “Project”) in northern Saskatchewan, Canada, which consists of 5 mineral claims totaling 13,239 hectares (32,713 acres). Reindeer is located approximately 130 kilometres (81 miles) due east of LaRonge, SK and 20 kilometres (12.4 miles) southwest of the community of Pelican Narrows, SK. Reindeer is 100%-owned by ALX, subject to a 2.0% net smelter returns royalty (“NSR”) in favour of the vendor of the Project claims (the “Claims”). ALX acquired Reindeer to assess its potential to host lithium-bearing pegmatites.

ALX’s Reindeer Lithium Project claims, March 2023

About the Reindeer Lithium Project

  • Government of Saskatchewan geological mapping in 1968 at Reindeer identified pegmatites within quartz-feldspar schist and gneiss “…with abundant pegmatite lenses, pods, and layers.” (Report No. 114, The Geology of the Deschambault Lake District, Padgham. W.A., 1968);
  • The presence of schorl (black tourmaline), one of the pathfinder minerals for pegmatite lithium mineralization, was noted in the pegmatites mapped in the Deschambault Lake area;
  • ALX believes that Reindeer is underexplored for lithium-bearing pegmatites in the modern era and intends to carry out reconnaissance geological mapping in the summer/fall of 2024 to evaluate the lithium potential of the pegmatites present at the Project.
Pelican Narrows, Saskatchewan

In consideration for the acquisition of the Claims, ALX has agreed to pay $12,500 to the vendor for a 100% interest in the Claims, subject to a 2.0% NSR. ALX is entitled to purchase one-half of the NSR (1.0%) from the vendor at any time within five years from closing of the transaction for the Claims, for $2,000,000.

National Instrument 43-101 Disclosure
The technical information in this disclosure has been reviewed and approved by Robert Campbell, P.Geo., a consultant to ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. 

Historical geological mapping descriptions quoted in this disclosure were taken directly from publications released by the Government of Saskatchewan. Management of ALX cautions that the reported historical observations have not been verified nor confirmed by its Qualified Person, but they create a scientific basis for ongoing work in the Reindeer 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.

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