ALX Resources Corp. Acquires Reindeer Lithium Project, Northern Saskatchewan, Canada

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Algemeen advies 13/03/2023 16:11
Vancouver, March 13, 2023 – ALX Resources Corp. (“ALX” or the “Company”) (TSXV: AL; FSE: 6LLN; OTC: ALXEF) is pleased to announce that it has acquired by way of purchase the Reindeer Lithium Project (“Reindeer”, or the “Project”) in northern Saskatchewan. Reindeer consists of 5 mineral claims totalling 13,239 hectares (32,713 acres), 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”).

Highlights of 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 2023 to evaluate the lithium potential of the pegmatites present at the Project.

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