Financial Press: Alix Resources Commences Drilling on Potential Major North American Gold Discovery
Vancouver, BC (PRWEB) June 04, 2012
(Financial Press) – Canada-based exploration company Alix Resources is targeting a major gold discovery adjacent to one of Alaska’s most successful gold mines.
This early-stage company has established a number of high-potential gold prospects across its large project.
The property, which includes both the Money Rock and West Pogo gold exploration properties, is located immediately next to the Pogo Gold Mine.
This mine is owned and operated by Japanese conglomerate Sumitomo Metal Mining Co. and Sumitomo Corp. It produces around 400,000 ounces of gold per year. And is one of few high-grade gold mines to be put into production in the past few years.
Furthermore, the gold production statistics of the mine show it is very high and economical grades of gold. The Pogo Mine’s reserves are 12.3 million tonnes with an average grade of 0.366 ounces per tonne (equivalent to 10.376 g/t gold). That’s many times higher than many of the new mines which are currently producing and the new ones being opened up.
Sumitomo is also actively exploring around the Pogo Mine project as well.
In short, professional geologies believe there’s a lot of potential gold in this region. And the potential rewards are so high of making a significant discovery in this area, they’re going to take the time and spend the money to do it.
This is where Alix comes in. Alix’s Money Rock/West Pogo gold exploration project is immediately adjacent to the Pogo Mine.
The first map shows Alix’s Money Rock and Pogo West properties (green) relative to the Pogo Mine and Sumitomo’s other properties which it’s also exploring in this region of Alaska.
Alix’s position in the region is a very strong one. Its projects are more than just close to the Pogo Mine though. They also contain a number of extremely high-grade gold showings.
Extensive surface sampling has revealed prospective gold throughout a large portion of the 5,439 hectares of gold exploration territory Alix has acquired and developed.
The results from the surface sampling have produced some stellar results. The highest grade sample from the West Pogo properties included a staggering 118.5 g/t gold sample. And the highest grade samples from the Money Rock property graded as high as 200 g/t gold.
The second map shows where Alix’s surface sampling efforts have returned gold showings throughout most of the portions of the property it has tested.
Alix has made all the right moves so far in its efforts to build a potentially lucrative and valuable gold discovery in a region where many significant gold deposits have been discovered.
The company has aggressively completed much of the surface work which doesn’t garner much attention from the markets, but is essential to building geological models of the area and identifying the most prospective drilling targets on the extensive property.
Today Alix announced it’s moving into the final stages of exploration where the potential of the Money Rock/West Pogo project can be confirmed to the market. The company has started drilling.
Alix has announced it has begun a 6,000 foot drill program encompassing targeting the multiple high-grade gold zones surface geologic testing and research revealed may exist on the property. Alix has targeted the highest potential within the Money Rock/West Pogo project complex.
In addition to the drilling, the company plans to continue its geologic mapping and will still be sampling silt, soil, and the anomalous rock formations in the area to get an even more developed understanding of the geology in the region.
Mike England, President of Alix Resources, stated, “Alix’s experienced team of geologists have invested an enormous amount of time poring over data and reports from the Pogo area in Alaska in preparation, and are now very excited to commence the 2012 work program.”
Alix has been rapidly completing all of the non-drilling exploration activities in preparation for the current summer drill season in this region in Alaska. And now that the essential early stages of geological reconnaissance are complete, the company can drill and determine how much potential is really contained in the Money Rock/West Pogo project.
Alix Resources trades on the TSX Venture Exchange under the ticker symbol “AIX.” It also trades in Frankfurt on the Deutsche Borse under the symbol “37N.” It has a current market capitalization of approximately $ 2.5 million.
Learn more about the company at http://www.alixresources.com.
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