Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
ALX Uranium (TSXV: AL) just launched a ground prospecting program at its 100%-owned Argo project located in Saskatchewan’s Athabasca Basin.
In a press release, ALX said that the program is designed to follow-up a high-sensitivity airborne radiometric survey flown in 2018 that identified several areas of anomalous radioactivity, including certain spot anomalies that could represent the presence of radioactive boulders.
Argo straddles the southern margin of the Athabasca Basin, where “boulder hunting” has led to the discovery of large uranium deposits
The team that is currently in the field is using last year’s ground coordinates to locate the anomalies.
Argo consists of five claims totaling 17,393 hectares that cover a prospective area between the ALX’s Kelic Lake project to the west and Cameco’s Centennial uranium deposit and Dufferin uranium zone to the east.
The project was the subject of airborne and ground geophysical surveys in the mid-2000s, which ALX re-interpreted in 2018 using new geophysical modeling programs that were not available at the time of the historical surveys.
“A new basement conductor was discovered through the modeling process and the anomalous radioactivity defined by the 2018 airborne survey shows that the strike area of the new conductor could represent a potential source area for uranium mineralization,” the miner’s media statement reads.
