General Precious Metals
ALX Resources (TSX-V: AL) CEO Warren Stanyer on Getting Back to Prospecting at the Vixen Gold Project in Ontario
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, you are a busy fella nowadays. How are you?
Warren Stanyer: Well, very busy. I sometimes say, I'm juggling flaming torches, because there's just so much going on with the gold price, of course, and metals in general. Nickel dropped to $7. Copper's at $3 on a good day. Here we have gold going over $2,000 for the first time in, well, I don't think it ever did that. But, I remember it was $1,900 in 2011, and that was exciting. Here we are kind of holding that level, and there's a lot going on as a result.
Gerardo Del Real: There is indeed. Let's talk ALX. You've commenced the follow-up prospecting at the Vixen Gold Project. That was cut short due to the fires. Can we talk about that a bit?
Warren Stanyer: Yeah, it was disappointing. We managed to get four full days in in August. The guys got back to the motel in Red Lake from the property and they sent a picture of this big cloud of smoke. It was coming the wrong way, towards the town. The whole town was evacuated.
That particular day we were just starting to see some very interesting things on the ground at Vixen North. But literally the helicopter pilot was saying, "Come on, we got to go, we got to go." So they left. They just got back on the ground yesterday. They're out there today. So, you always wonder what are they finding? It's not like they have a body cam that they can wear and transmit to you.
We're in this digital age, and we actually get photographs at night, and some kind of digital information that is a typed summary of what happened during the day. I can't imagine back in the old days. Guys would go and you wouldn't hear anything for a couple of weeks. But in this case, we're part of the excitement. It is a very, very interesting project, as we found in those four days in August.
Gerardo Del Real: The team has now identified, as you describe, important geological trends at Vixen North that indicate the presence of iron formation-hosted gold occurrences. Those are important in this part of the world. Can you explain to everyone why?
Warren Stanyer: Well, I'm not a geologist, you know that. But when I first was told about the possibility for iron formation, I looked at the Lupin Mine, which is in Northern Canada. It produced, I don't know, a couple of million ounces in the last 30 or 40 years. It's out in the middle of nowhere, but somebody found it. The formation was fertile, not all iron formations are, but when there's gold with them, you have to pay attention.
When we looked at the magnetics that we had from 1992, a free survey that's sitting in the Ontario government archives, and we saw this mag high that matches where we're picking up gold, and seeing magnetite and seeing iron. Well, you have to draw the line and you have to say, "Oh, this could be a gold in iron formation deposit scenario.” So we're exploring that.
Plus you've got Springpole down to the southeast. It's only a few kilometers away. It's over 4 million ounces. That is a bit of a different animal. It took years for people to understand what Springpole was, which is like a porphyry, as I understand it. It's a bit lower grade, or can be lower grade, but it's huge. That's what Springpole has going for it. They're doing feasibility studies and moving forward. Go to Google Earth, look for yourself where Springpole is and look where we are, and look at how the geology is going.
We're in this fertile greenstone belt, the Birch-Uchi greenstone belt, that hooks around all the way from Red Lake in a big U shape. It's on our website, you can see a map that shows this relative U shape, and that's where we are. There's gold showings, there's old mines, there's all sorts of fertility in the area that was really ignored for a long time. Springpole was kind of quiet for a few years. When gold was low, no one was paying attention. We were lucky to get these claims. We're lucky that we're out there exploring, people are funding us. They want us to find something. That's a great recipe for success.
Gerardo Del Real: Well said, Warren. Walk me through the next steps, before I let you go here.
Warren Stanyer: We're flying Vixen North right now with a very high resolution survey, that also has a mag survey, that also has VLF. VLF, it's another kind of a spooky thing, where the U.S. Navy uses very low frequency, to guide their submarines throughout the world. Canadian explorers, and American to some degree, figured that out and are using the VLF signals generated by the U.S. Navy to actually find mineral deposits. It's been going on for a long time. This particular aircraft is detecting the VLF signals and applying them to our property.
This is a great thing. We get this sort of a cheaper, and yes, surficial look at the EM signature, of the Vulcan Zone and Vixen North, as well as a very high resolution mag. This is what you need to find gold. This is what we need to map the iron formation that we believe is there. The guys are on the ground to find whatever surface expression of this iorn formation is there. This week is critical to find out where we're at. What we hope to do is have drill targets mapped out in the next few weeks, based on the results of this ground survey and the air survey
Gerardo Del Real: Warren, as I said before, you have your hands full. I'll let you get to it. Thank you so much for that thorough update.
Warren Stanyer: Thank you, Gerardo.
Gerardo Del Real: Bye now.
Warren Stanyer: Take care. Bye.