Lithium Australia NL : ALIX DEFINES LITHIUM TARGET OVER 2.5 KILOMETER STRIKE LENGTH ON THE AGUA FRIA PROJECT SONORA MEXICO
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10/18/2017 | 01:34pm CET
Release date- 17102017 - Vancouver, BC, Canada -ALIX RESOURCES CORP. ('Alix' or the 'Company') (AIX-TSX: V) (37N-FRANKFURT) announces that Perth-based lithium processing technologist, Lithium Australia NL (ASX: LIT) ('LIT') has moved to a 54% controlling stake in the Electra lithium project in northwest Mexico.
The project comprises the Tecolote, Tule, and Agua Fria concessions and is currently the subject of a farm-in and joint venture between Alix and LIT. LIT has the right under the JV terms to earn an ultimate 65% holding in Electra. Lithium Australia moved to the majority 54% ownership on completion of a recent drilling program.
This generated confirmation of a new 2.5 km-long, 25-50 m-thick mineralized zone lying on the western flank of the Agua Fria concession in what the JV partners described as the project's best discovery yet.
LIT was requested by Alix the Stage 3 Joint Venture earn-in be accessed early to ensure the maiden drill campaign was not implement for lack of funds. All other terms of the Joint Venture Agreement remain fully enforceable.
SUMMARY OF INITIAL DRILL PROGRAM
AIX and LIT recently completed a drilling program on the Agua Fria property, Electra Project located in Sonora, Mexico. Drilling concentrated along a 6 km length of various stacked beds of lithium-rich sediments found on the Agua Fria property. The highlight of the exploration program was the discovery of the 'West Flank' lithium zone, which partially outcrops and extends in a NNW-SSE-direction for more than 2,500 m, on the western portion of the Agua Fria concession.
In total, 16 Reverse Circulation drill (RC) holes were completed totaling 1,762 m across multiple target areas.
The 'West Flank' lithium target is the most significant target as it outcrops and has the most potential to contain important mineralization with very low stripping ratios. The West Flank is defined by: Surface grid sampling completed in May (rock chip sampling) with 31 samples returning +/= 1,000 ppm (148 samples in total).
Lithium Australia NL : ALIX DEFINES LITHIUM TARGET OVER 2.5 KILOMETER STRIKE LENGTH ON THE AGUA FRIA PROJECT SONORA MEXICO
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10/18/2017 | 01:34pm CET
Release date- 17102017 - Vancouver, BC, Canada -ALIX RESOURCES CORP. ('Alix' or the 'Company') (AIX-TSX: V) (37N-FRANKFURT) announces that Perth-based lithium processing technologist, Lithium Australia NL (ASX: LIT) ('LIT') has moved to a 54% controlling stake in the Electra lithium project in northwest Mexico.
The project comprises the Tecolote, Tule, and Agua Fria concessions and is currently the subject of a farm-in and joint venture between Alix and LIT. LIT has the right under the JV terms to earn an ultimate 65% holding in Electra. Lithium Australia moved to the majority 54% ownership on completion of a recent drilling program.
This generated confirmation of a new 2.5 km-long, 25-50 m-thick mineralized zone lying on the western flank of the Agua Fria concession in what the JV partners described as the project's best discovery yet.
LIT was requested by Alix the Stage 3 Joint Venture earn-in be accessed early to ensure the maiden drill campaign was not implement for lack of funds. All other terms of the Joint Venture Agreement remain fully enforceable.
SUMMARY OF INITIAL DRILL PROGRAM
AIX and LIT recently completed a drilling program on the Agua Fria property, Electra Project located in Sonora, Mexico. Drilling concentrated along a 6 km length of various stacked beds of lithium-rich sediments found on the Agua Fria property. The highlight of the exploration program was the discovery of the 'West Flank' lithium zone, which partially outcrops and extends in a NNW-SSE-direction for more than 2,500 m, on the western portion of the Agua Fria concession.
In total, 16 Reverse Circulation drill (RC) holes were completed totaling 1,762 m across multiple target areas.
The 'West Flank' lithium target is the most significant target as it outcrops and has the most potential to contain important mineralization with very low stripping ratios. The West Flank is defined by: Surface grid sampling completed in May (rock chip sampling) with 31 samples returning +/= 1,000 ppm (148 samples in total).
Lithium Australia NL : ALIX DEFINES LITHIUM TARGET OVER 2.5 KILOMETER STRIKE LENGTH ON THE AGUA FRIA PROJECT SONORA MEXICO
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10/18/2017 | 01:34pm CET
Release date- 17102017 - Vancouver, BC, Canada -ALIX RESOURCES CORP. ('Alix' or the 'Company') (AIX-TSX: V) (37N-FRANKFURT) announces that Perth-based lithium processing technologist, Lithium Australia NL (ASX: LIT) ('LIT') has moved to a 54% controlling stake in the Electra lithium project in northwest Mexico.
The project comprises the Tecolote, Tule, and Agua Fria concessions and is currently the subject of a farm-in and joint venture between Alix and LIT. LIT has the right under the JV terms to earn an ultimate 65% holding in Electra. Lithium Australia moved to the majority 54% ownership on completion of a recent drilling program.
This generated confirmation of a new 2.5 km-long, 25-50 m-thick mineralized zone lying on the western flank of the Agua Fria concession in what the JV partners described as the project's best discovery yet.
LIT was requested by Alix the Stage 3 Joint Venture earn-in be accessed early to ensure the maiden drill campaign was not implement for lack of funds. All other terms of the Joint Venture Agreement remain fully enforceable.
SUMMARY OF INITIAL DRILL PROGRAM
AIX and LIT recently completed a drilling program on the Agua Fria property, Electra Project located in Sonora, Mexico. Drilling concentrated along a 6 km length of various stacked beds of lithium-rich sediments found on the Agua Fria property. The highlight of the exploration program was the discovery of the 'West Flank' lithium zone, which partially outcrops and extends in a NNW-SSE-direction for more than 2,500 m, on the western portion of the Agua Fria concession.
In total, 16 Reverse Circulation drill (RC) holes were completed totaling 1,762 m across multiple target areas.
The 'West Flank' lithium target is the most significant target as it outcrops and has the most potential to contain important mineralization with very low stripping ratios. The West Flank is defined by: Surface grid sampling completed in May (rock chip sampling) with 31 samples returning +/= 1,000 ppm (148 samples in total).
