Don't miss a single story. Get it delivered to your inbox with our daily recap on what's moving the markets.

Alix Resources (AIX.V) moved to execute its exploration mandate when the company announced today that it had commenced the maiden drill program with Lithium Australia, its 49% partner on the Agua Fria Lithium Project located in Sonora, Mexico.

According to the news release, the program is planned to consist of 3,000 metres of reverse circulation drilling over a five-kilometre strike length.

The release went on to note that lithium mineralization on the Agua Fria project is similar to that of the nearby Sonora lithium project, owned by Bacanora Minerals Ltd. (BCN.V), and Rare Earth Minerals PLC (REM).

Highlights of the Agua Fria project include trench samples of up to 1,340 ppm. Also the company believes it can employ a simple beneficiation strategy that will reduce costs in recovering the lithium-bearing components from the clay.

The program will also be the first to field test a new process called Laser Induced Breakdown Spectroscopy (LIBS), developed by Lithium Australia and Sci-aps.

Lithium Australia is committed to the region, with the company raising its equity stake to 49% on the Electra Project which includes the Agua Fria property.

Agua Fria also has anomalous readings of potassium. Nearby miners are using potassium as a valued by-product to their economic model.

President of Alix Resources, Mike England, commented on the milestone, “We are very pleased to be initiating the maiden drill program on the Agua Fria lithium clays discovery. With an international team of Canadian, Australian and Mexican personnel, the objective is to discover lithium-rich clay deposits similar in grade and size to that of the Bacanora/REM La Vantana deposit.”

FULL DISCLOSURE: At the time of writing, Alix Resources is an EQUITY.GURU marketing client.

Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

Gaalen Engen

Gaalen is a writer, actor, producer, AV tech, Brazilian Jiu-Jitsu and Yoga enthusiast. He loves taking photos.

Leave a Reply

Be the First to Comment!

Notify of