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ALX Resources (TSX-V: AL) CEO Warren Stanyer on High-Grade Results from 2020 Prospecting and Samplng Program at the Falcon Nickel, Flying Vee and Gibbons Creek Projects 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 this morning?
Warren Stanyer: It's a beautiful day in Vancouver, so I must be doing well. Thanks, Gerardo.
Gerardo Del Real: You're very welcome, Warren. You're probably also doing well because you had some news a couple of days ago that was frankly very, very positive. You sampled up to 2.43% nickel and 8.34 grams per tonne gold in the Northern Athabasca region. Pretty impressive sample numbers. Can you give us some details and provide some color there?
Warren Stanyer: Yes, both of those showings – one the Wiley Lake Nickel Showing, the other the Day Lake Gold Showing that you just mentioned – they haven't been visited for so long. It's almost laughable. Well, how can I put it? That there was nothing big in Saskatchewan. Look at the Seabee Mine it's now at over 120,000 ounces a year that it's producing under Silver Standard, SSRM. It's produced 1.6 million ounces of gold now.
So what does that tell us? It tells us that we haven't been looking for gold in the right places very well, and that perseverance and persistence and ingenuity is what you need to find gold deposits. Saskatchewan just has so much going for it in gold and in nickel.
No one had been to Wiley Lake since 1982. Nobody had been to Day Lake since 1988, until we did it. There're no records. There's no assessment files filed. Even if a sole prospector had gone there, he would've filed a report to keep the claims in good standing. There's nothing. We're going after these things that people looked at a long time ago and then they just let it go.
I've been in this business since 1995. In 1997 gold was $275 US an ounce. You can adjust that for CPI and it gets to a higher number, but nobody was interested in gold much at certain times, let's put it that way. So they didn't go after these things. Nickel has suffered the same cyclical price changes. If price was high, then everybody starts up the four-wheel drive and heads out into the bush. But if nickel is low, then nobody would do anything. That's what happened at our Falcon Nickel Project. It wasn't touched for over 10 years.
Gerardo Del Real: It's interesting because I mentioned the nickel and you did as well. I mentioned the gold and you did as well. But the sample also returned 0.43% copper, which is not insignificant in tandem with the gold and nickel values that you're getting at surface, right?
Warren Stanyer: That's right. We have not gone down to the southern part of the Falcon property and looked at the Axis Lake deposit, the Rea Lake deposits. The ones that were drilled for the last several decades. From time to time, people would put holes in them. They're lower grade. The nickel tenor, the quality of the sulfides and the amount of nickel is not as high. It's a great indication of a magmatic process, but we're not going to spend our time down there. We're looking for high grade and this is where Wiley Lake, it's just sitting there, we go there, we take some samples. We drilled into the outcrop and we got 1.22% and 1.31% drilling about two-thirds of a meter into this outcrop. That's significant.
The grab samples ran up to 2.43%. This is high grade with copper. Never been flown with the modern geophysical airborne survey, never been flown. So this little knob that sticks up, that people thought, oh well, it's interesting. Where does it go? Where did it come from? What's the root of it? Is it detectable with airborne? Well, we're going to find out because that's the plan.
Gerardo Del Real: That was my next question. What is the plan, Warren?
Warren Stanyer: The plan is to do an extension of ZTEM what's called, which is a helicopter-borne EM survey.
Gerardo Del Real: Right.
Warren Stanyer: It's very commonly used in North America and around the world by a company out of Canada called Geotech. That survey we're going to extend to the north of the Falcon Project. We are going to include Wiley Lake in that because it's never been flown at all, as I said. We want to blend these two surveys, overlap them a bit and get a better picture of what's going on in the northern part of the project where we think the highest grades of nickel and copper are.
Gerardo Del Real: When do you anticipate doing that? And having those results?
Warren Stanyer: I believe that we can fly. It's kind of tied to fire season if there is one this year. If there's a wet summer, you kind of rejoice a little bit because access to Northern Saskatchewan is better. Helicopters are plentiful and you can go do what you want to do. But if there's a lot of smoke and things going on from fires, then it kind of cramps our style somewhat. July we're here on the 29th, it looks like the season has been pretty weak so far, which is good. We'll see what happens next month.
I'm guessing end of August to early September we could fly. Then you would still have quite a bit of light. You don't want to fly in the winter time, cause the days are just abysmally short in the north. Visual flight rules, we can get out there in August or early September. We'll get it done pretty quick. It's about 800 line kilometers. It's just under $200,000 Canadian for that.
Gerardo Del Real: I get the sense those $200,000 Canadian will be well spent. Anything to add to that, Warren?
Warren Stanyer: Well, we're just scratching the surface of this property. A decade it sat with nothing happening. So here we are bringing in the latest VTEM survey, it's called VTEM Max or VTEM Plus I can't remember which one it is, but it sees deeper than any VTEM survey has ever seen. We're still looking for these conduits and the roots of this magnetic sulfide system. Nobody's ever been able to trace it, because it's really hard to deal with a drill one hole at a time. You need geophysics. You need to see something that then you can follow with the drill and in the north that just hasn't been accomplished yet. We'll be the first people to really get a good look at it.
Gerardo Del Real: Well, after years of waiting, it's so exciting to me to have a resource cycle that supports real grassroots exploration again. I think we're entering a discovery cycle in gold and copper and silver to a lesser extent because there's less pure silver opportunities out there. But I think we're entering a discovery cycle that 10 years down the road we're all going to look back and just be in awe about. I hope some of that success and some of those discoveries come your way, Warren.
Warren Stanyer: Well, that's what I live for. I realized I'm obsessed with it. That's why I read old reports late into the night. That's what we're looking for. We're looking for new discoveries on ground that people have just missed on, scratched the surface, didn't know there was something deeper there because they literally couldn't see it.
Gerardo Del Real: You've done it before. I'm looking forward to seeing you do it again.
Warren Stanyer: Thanks Gerardo.
Gerardo Del Real: Thank you, Warren.
Warren Stanyer: Have a great day.