Vixen Gold Project

Project Snapshot

Ownership:

ALX 100% – Claims acquired in three transactions between 2019-2021. In September 2021, the Company optioned the project to First Mining Gold. Corp., which owns the nearby Springpole gold deposit. First Mining Gold can earn an initial 70% interest over three years by making cash payments totaling $550,000, issuing $400,000 in common shares of First Mining Gold to ALX, and incurring $550,000 in exploration. Details of the option agreement can be viewed by clicking HERE.

Size:

499 claims in three separate claim blocks. Combined land package totals 10,614 ha

Location:

Red Lake Mining District in northwestern Ontario, ~60km east of the town of Red Lake

ALX-vixen-gold-location2

Regional Significance

  • Red Lake mining district has long been one of the most prolific long-term producers of gold in Canada with historical production exceeding 28 million ounces. With the significant increase in the gold price, it has attracted significant exploration resulting in several prominent discoveries, including Great Bear’s Dixie project, currently being acquired by Kinross.

  • The Vixen claims are within close proximity to First Mining Gold’s Springpole deposit, , which hosts an Indicated mineral resource estimated at 139.1 million tonnes containing 4.67 million ounces of gold and 24.19 million ounces silver at an average grade of 1.04 g/t Au and 5.4 g/t Ag. (Source: SRK Consulting (Canada) Inc. in “Preliminary Economic Assessment Update for the Springpole Gold Project, Ontario, Canada” dated June 6, 2017 (Arseneau, et al)

2022 Exploration Plans

  • Following positive engagement with local First Nations communities, ALX and its partner First Mining Gold Corp. received an exploration permit to June 28, 2024 from the Ontario Ministry of Energy, Northern Development and Mines that allows for 1,000m of diamond drilling at up to 10 locations at Vixen North.
  • First Mining Gold will be the Operator.

Exploration Summary

  • With the completion of Vixen North option agreement with First Mining Gold, this sub-project has been prioritized for exploration.

  • ALX 2019 prospecting, mapping and sampling program at Vixen North returned values as high as 23.9 g/t Au and 6.1 g/t Ag from four rock samples at.

  • A more extensive follow-up helicopter supported mapping and sampling program was completed in 2020 provided valuable data used to reinterpret the historical Vulpen Zone at Vixen North. Gold Values of up to 22.73 g/t AU were identified, along with multiple iron formation associated gold occurrences sampling up to 7.21 g/t Au., and NNW-trending shear zone coincident for much of the Vulpin Zone.

  • The Echo Zone discovered 1.5 km east of the Vulpin Zone is hosted by a feldspar porphyry crosscut by a shear zone up to 100m wide and containing multiple quartz veins up to 1m wide.

  • Rock samples collected from outcrop and historical trenches at the Dickenson Zone ranged up to 17.7 g/t Au.

  • A high-resolution helicopter-borne magnetic and VLF-EM survey was completed to better define drill targets at Vixen North.

Vixen North: Au Sampling Results
Vixen North: Au Sampling Results

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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