ALX Resources (TSX: AL)(OTC: ALXEF) CEO Warren Stanyer on Exploring Multiple Projects & Positioning For a Busy 2022
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO and Chairman of ALX Resources, Mr. Warren Stanyer. Warren, it's been a bit. It's great to have you back on. How are you, sir?
Warren Stanyer: I'm good, Gerardo. Thank you for inviting me to speak today in an interview. Happy to do it.
Gerardo Del Real: I'm glad to have you on. We haven't spoken because of how busy you've been, which is usually when I don't speak with people it's because there's not a lot going on. You've been all over the place. You've sold six properties in the Athabasca Basin. You received some geochem results from drilling at Firebird. You mobilized a geological crew here recently to another project, to multiple projects. Give me a 360 overview of everything that's going on right now, Warren.
Warren Stanyer: Well, I mean, going from the summer onward, you referred to Firebird. So we finished that drilling at the end of July. We didn't get the mineralization we were looking for. We did hit the magmatic sulfide targets, which we proved we can find those targets with VTEM which is a helicopter born airborne survey. It penetrates to 300 to 400 meters, potentially. Our targets are all less than 200 meters and there's several more on the property. So right now we're waiting for Rio Tinto to make a decision about 2022. And I think that they probably will want to give it another shot because there's high grade nickel on surface up to 3% in trenches. And we didn't drill in that area. We were going that way, but we had a slow season, lots of mechanical issues and heat. It was quite the heat wave that really decimated some of the workforce at times. So it was slower than we wanted. We didn't get as much done. So there's a chance here to go back and just keep trying on some of these targets further to the east.
Gerardo Del Real: Excellent. I mentioned the Athabasca Basin, a lot of activity there. Uranium. I think we're primed for what's going to be a spectacular 2022. Battery metals. Same. You happen to have a nice suite of all of those things.
Warren Stanyer: Yeah. So in terms of uranium, I mean it really crescendoed in August, September. I mean, we had all the buying coming in of uranium metal and these physical uranium funds. Obviously the share or the, pardon me, the what I call “the Sprott price” increased from $30 to $40 plus, so these are good things for the market. And uranium is something that I was attracted to a long time ago because of the value. When you look at the value per tonne of these high grade deposits, I mean they can... Depending on of course on the price per pound, but you're looking at in excess of say $10,000 US per metric tonne. Now that's a five ounce gold mine or more. And some of them at times are $20,000 US per tonne. I mean, I've seen the trucks leave the... That are coming from McArthur River to the Key Lake Mill and they only run it a couple of trucks every few days. As far as I know, it's a very small tonnage, high value operation when it's rolling.
So that's what attracted me and people at UX 20 years ago. More than 20 years ago. So all of a sudden, we've got a new, let's say a new lease on life for uranium because when you look at the map of the Athabasca Basin in 2020, which I've been doing lately, it's very small. It's very thin for claims. In September of this year, there was a staking rush. We participated in it. It was partly due to some of the results that 92 Energy, Baseloaded Energy was getting in a new area. So there's a lot of excitement, and we're part of that. We never left our uranium behind. We are drilling. Plans to drill the Gibbons Creek Project, which is near Stony Rapids and near the Black Lake Project, which already has demonstrated uranium occurrences. So we're tackling a conductor that's never been tested. And that's exciting too because new tools find new things, new targets. And that's... We'll be talking about that next week in a news release.
Gerardo Del Real: Excellent. Well, I look forward to having you back on. Set the table for me for 2022. Drilling uranium, waiting to see if you're drilling for nickel. What else do you have happening there, Warren?
Warren Stanyer: We have a permit to drill the Alligator Lake Project, which is very close to a highway. There's accommodation nearby. We have a driller lined up to do it, the same person, the same driller that we'll be drilling at Gibbons Creek in January. We expect to have him follow up on the gold project. Plus we have a permit application in for the Electra Nickel Project in Ontario. And that's a really an untested scenario as well. Where back in '95, someone drilled some shallow holes and nobody's drilled since. So when you look back like that, I mean, come on. The new tools see deeper. We've got eight targets mapped out that are in the permit app. And it's easy to get to from Thunder Bay and Kakabeka Falls. So this is another exciting project that's really... It's like the old explorers, the historical work just barely scratched the surface. And here we are today, and we can see things in more detail, better resolution. Targets are much better defined, and they weren't even seen by the historical players.
Gerardo Del Real: A lot to look forward to. How's the treasury looking?
Warren Stanyer: The last time I asked it was $4.2 million Canadian. So that's sufficient for our needs, obviously. And we have money properties. If Okapi follows through with our deal, which I think they will in January, that's just under a million dollars Canadian. And that's an Australian company that is buying six properties from us. Plus we have other cash that will be coming in next year from the sale of the Vixen Gold Project to First Mining Corp. So that was something that we decided was in our best interest to do
Gerardo Del Real: Well I know personally Warren, that you did very, very, very well in an earlier previous uranium bull cycle. I am rooting for you to do very, very, very well again, as a biased observer and shareholder. Right? And so, all the best luck in 2022. Enjoy the holidays, if we don't chat. I suspect we'll be chatting because you said you might have some news next week. If so, I'd love to have you back.
Warren Stanyer: Thank you, Gerardo. I really appreciate your support of the company.
Gerardo Del Real: Thank you, Warren. Appreciate the hard work. You have a good one.
Warren Stanyer: Thanks. Take care.Click here to see more from ALX Resources Corp.