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Donald Trump has described the Inflation Reduction Act (IRA) as a "green scam" and vowed to repeal it after he returns to the White House in January.
ALX Resources (TSXV: AL) intersected nickel and copper mineralization in the second hole of the 2020 drilling program at its Falcon nickel project located in the northern Athabasca region of Saskatchewan, Canada.
In a media statement, ALX said that its second drill hole on the V-1 conductive target proximal to the historical Currie Lake deposit area completed to a depth of 108 metres intersected sulphide mineralization beginning at a depth of 47.03 metres continuing to 67.89 metres.
“ALX has intersected sulphide mineralization in a new zone that was never detected by historical exploration”
Warren Stanyer,
ALX CEO
“The presence of nickel and copper mineralization in hole FN20-002 has been confirmed by the use of a portable X-ray fluorescence device on the drill core, which is currently being logged and sampled,” the media brief reads.
“Preliminary logging describes the mineralized interval as containing disseminated to semi-massive, net-textured sulphides, with visible pyrrhotite and chalcopyrite hosted within noritic rocks. Core samples are being shipped to SRC Geoanalytical Laboratories in Saskatoon, SK for base metals analyses with results expected later in March 2020.”
The Vancouver-based miner said that the initial FN20-001 hole was drilled to a depth of 165 metres but did not encounter significant sulphide mineralization. However, a borehole electromagnetic survey was immediately carried out upon completion of the hole and it detected a conductive zone at a shallower depth, which was later targeted with hole FN20-002.
At present, a helicopter-supported diamond drilling program is underway at the project.
The 20,002-hectare Falcon property is located within the Tantato Domain, which forms a segment of the Snowbird Tectonic Zone. According to ALX, it hosts a magmatic nickel-sulphide mineralizing system that had been underexplored by modern methods until recently.
