ALX Resources (TSX: AL)(OTC: ALXEF) CEO Warren Stanyer on Drilling for Discovery at Multiple Nickel & Uranium Projects
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the Chairman and CEO of ALX Resources Mr. Warren Stanyer. Warren, how are you this morning?
Warren Stanyer: I'm great. Gerardo. And thanks for the call and this opportunity.
Gerardo Del Real: No look, thank you for taking the time. We have, for the most part there are exceptions to the rule, but for the most part the summer doldrums combined with volatility in the broader indices has led to a pretty significant downward trend for most junior resource companies, right? Add to that a pullback in metals prices as the Fed works hard to diminish the painful inflation it unleashed on the world, and you have a slightly tough market to navigate through. Despite that there have been exceptions to the rule and despite that there're some companies that are doing some very good work still. You just received analytical results from the Electra Nickel Project. This was an inaugural drilling program. And I just wanted to get your take, not just on the results, but on what comes next for ALX.
Warren Stanyer: Well, we had a very busy winter season. We had three drill programs, we had decent gold results from the Alligator Lake Gold Project. Electra's second now, in terms of when we received the results and as you've heard from probably every junior resource company. The labs are extremely slow. We were lucky in lithium, in another company getting results back fairly quickly. But the hard rock stuff takes a long time to get through the mill, so to speak. So we're happy with these results. What we see is that in two instances of the six holes, we see the kind of rocks and the kind of mineralization, the magmatic nickel sulfide, mineralization, that this is what leads to finding deposits. You know there's a mineralizing system there that has the right attributes. The sixth hole in particular, last hole of the program, we were blessed with a very late incoming spring in that it was snowing all through April.
So we were still able to function right into early May. So unfortunately at the end of that, though, it was getting pretty sloppy and I wish we'd been able to drill some more because the bottom of the sixth hole is where suddenly we had the highest nickel kick in the right rocks, plus a platinum kick as well. So this is the classic style of mineralization that you want in Ontario is nickel with PGE mineralization. So it was just starting to happen, but that was the end of the program. So there is a reason to go back and drill some more.
Gerardo Del Real: Excellent. You have a pretty robust portfolio under the ALX umbrella. Tell me a bit about some of the other projects that you believe will see some work this year.
Warren Stanyer: Well, we have uranium on the drawing board. We're waiting for permits, the a permit at the Sabre Uranium Project. It's a very interesting project because there's uranium mineralization on surface, which is several hundred meters of sandstone. Anytime you can find uranium say above one or two, three PPM. And you're finding it up to hundreds of PPM in altered rocks on surface. What does that tell you? There's some kind of process that mineralized that sandstone, which is normally about as mineralized as a sidewalk. So there's big faults running through the property.
There's a lot of mystery about how this all occurred, and I guess that's our job as explorers to go in and solve these mysteries. So I really want to get on the ground at Sabre this summer, do some deep penetrating geophysics look for conductors that no one has ever seen, because those conductors often are the base for mineralizing processes. This is where the uranium comes out of fluids and develops into a deposit. That's your McArthur River. That's Cigar Lake. Those are the deposits that we're looking for in the Athabasca. They're very high grade, extremely valuable. So it's worth looking for.
Gerardo Del Real: Nickel, uranium, clearly you have a focus on the critical metals. Clearly there is something rare in the world today – bipartisan support in the US and Canada, basically all around the globe to establish independent, critical metals supply chains that obviously need to include nickel and uranium. So I'm glad to hear you targeting exploration work on both those fronts. Warren, anything else to add to that?
Warren Stanyer: We just have so much work to do all the time. What can I say? It's been quite a busy season, as I said. And there's a lot of results to come. Gibbons Creek, we drilled that was the third program of the winter, still waiting for results. So I'm looking forward to the next steps on these uranium properties.
Gerardo Del Real: Warren, thank you for your time. Appreciate it. We'll talk soon.
Warren Stanyer: Thank you, Gerardo.