ALX Resources (TSX-V: AL) CEO Warren Stanyer on Commencement of Surface Exploration of Nickel, Gold and PGE Targets at the Falcon Nickel Project in Saskatchewan
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the Chairman and CEO of ALX Resources (TSX-V: AL)(OTC: ALXEF), Mr. Warren Stanyer. Warren, how are you?
Warren Stanyer: I'm doing well, Gerardo. Thanks for such a wonderful introduction.
Gerardo Del Real: Thank you for taking the time. Let's get right to it. We are obviously in the very early stages of what I believe will be a historic gold bull market. A lot of action in the space. You had some news out of ALX. You've commenced surface exploration on nickel, gold, and PGE targets. Can we talk about the program?
Warren Stanyer: We absolutely can. Sometimes you don't know what's on a property. When we first took on the Falcon Nickel Project, one of our vendors recommended that we always remember the JJ showing. At first I didn't know what he was talking about, because you have to go into the reports. You dig into these reports that were written almost 30 years ago, and then you read about this thing. So suddenly it was like, oh, this is real.
Noranda saw quartz and a rusty gossan. All of a sudden this was not like the nickel they had come there to look for. So they took samples and the samples ran gold and they were impressed. Then nobody ever went back. The the next time someone walked on that property in the area was 1997 because assessment credits were required. But gold in that time was $275 an ounce. So that showing was not of any interest to anyone. But it sure is now.
Gerardo Del Real: Absolutely.
Warren Stanyer: Then we start looking at that and looking at the topography and we see, oh, there's the Star Gold and PGE showing on the same trend across the river, right beside the town of Stony Rapids. And guess what? It's on our property. You could hardly make this stuff up. So here we are looking at a potential regional trend that has gold in it. It's been studied by the government geologists. They have come up there because they were like, wait a minute, golden and platinum group elements, right besides Stony Rapids.
So they were there about 4 years ago, wrote a very intelligent paper about gold and the potential in the northern part of Saskatchewan. And here you have – okay, it's not in the same rocks – but to the west, the Goldfields deposit of over a million ounces, all the categories added. You've got the Pine Channel gold showings about, I don't know, 20 miles to the west of us. There's a whole bunch of high-grade gold showings. So we're looking at the gold potential. Thanks for asking.
Gerardo Del Real: There is outcrop there, right? There was initial sampling that I believe returned up to 5.7 grams per tonne gold. Is that accurate?
Warren Stanyer: That is accurate. In the regolith material, some kind of paleo-weathered crumbly stuff that they got 5.7 grams. But there was almost 4 grams, 3.7 grams straight out of the bedrock piece the following year. So no one's been back there since except for the government. And they didn't look at it for commercial reasons. They were looking at it out of geological curiosity.
What we're doing, I don't know if you saw the pictures on our website today, Gerardo, but our contractor has purchased this little drill. It looks like a jackhammer that you'd rent to rip up your patio or something, two handles. It's a diamond drill and there's a picture also of the core that it drills. We're taking that to JJ and we're going to take it around to the other showings that we're interested in.
We will drill some holes, little ones to see what's underneath what hasn't been weathered. And if you're familiar with the Voisey's Bay discovery, people that visited the gossanous outcrop there, back in the late '80s, early '90s, nobody did what the discovers did. They didn't go below the rusty stuff and spend the time. So what this drill does for us, it lets us go through the rusty stuff in a matter of half an hour to an hour and we've got a sample of the fresh rock. So we'll see what comes out of it.
Gerardo Del Real: When do you anticipate initial results?
Warren Stanyer: Well, right now I would think that things are a little quiet at the labs. Although you've reminded me to call there in Saskatoon, our favorite lab that I've been working with for over 20 years. We can probably get them done quickly. In other words, within a couple of weeks, not 4-6 weeks kind of waiting and waiting. They tend to be very nice to us there. If we ask for a rush on something, they'll probably do it now that COVID is easing throughout North America and most places. I don't want to talk about that too much, but I hear that Austin is kind of a hot spot right now, and I wish you and your family well.
Gerardo Del Real: I appreciate that. We're staying inside, washing our hands and staying inside. And when we're out we're wearing masks.
Warren Stanyer: That affects all the commerce of an area. So in Saskatchewan, they've been luckier and the cases have declined and we've had none up in Stony Rapids where our Geos are today, which is great. There's not many places that can say that. Anyway, the labs get affected by that because of the personnel and having to come in and people going in and out. But I think we can get the results by the third week of July, even with these holidays in here.
Gerardo Del Real: Well, in this market, that's going to fly by. I'm looking forward to having you back on. I hope and I'm hoping that I'm able to be congratulating you on something significant because it's clear that the market has an appetite for discoveries. Fingers crossed, best of luck to you. Is there anything else that you'd like to add Warren?
Warren Stanyer: Just the discoveries, when they happen, there's this cumulative effect. It can be something that seems small and insignificant that all of a sudden really matters a lot. So I'm looking forward to these results too. Thanks for calling today, Gerardo.
Gerardo Del Real: Absolutely. Thank you for your time, Warren. Be safe.
Warren Stanyer: You too. Take care.