CSE : GXP | FRA : HW3 | OTC : GXPLF
CSE : GXP | FRA : HW3 | OTC : GXPLF
CSE : GXP | FRA : HW3 | OTC : GXPLF
OWNERSHIP : Greenridge option from a private vendor to acquire 100% interest.
SIZE : 212 claims comprising ~4,571 ha.
LOCATION: Located 35 km northwest of the City of Thunder Bay, Ontario, a prolific historical mining district, with extensive infrastructure, including highways, roads, trails, rail, power and air transportation links.
The past-producing Shebandowan Mine, operated by Inco Ltd. from 1972 until 1998, is located ~35 km to the northwest of Electra. Production consisted of 9.29 million tons grading 1.75% nickel, 0.88% copper, 0.063% cobalt and 1.83 g/t PGEs. (Source: Mineral Deposit Inventory, Ministry of Energy, Northern Development and Mines, “ENDM”, #MDI52B09SE00003).
A major structural feature known as the Thunder Lake Fault transects the property from SE to NW. This type of structure is highly prospective for magmatic-type nickel deposits and has remained vastly underexplored.
The presence of komatiitic ultramafic rocks with spinifex textures grading up to 1.0% nickel in surface sampling compares favourably with mineralization styles found in the Kambalda district of Australia, and the Raglan district of Quebec.
On July 20, 2022, ALX announced the analytical results from the inaugural drilling program at Electra.
The 2022 exploration program began in mid-March 2022 and six of the eight planned holes were completed for a total of 1,155 metres drilled. Two targets remain undrilled because of warming weather conditions that exposed creeks and other wetlands, which impeded surface access. Downhole electromagnetic surveys were completed on two of the first four drill holes to better define the targeted conductors detected by ALX’s 2021 airborne VTEM survey flown by Geotech Ltd. of Aurora, Ontario. A ground electromagnetic geophysical survey was carried out in on an undrilled target, which has provided an improved collar location for follow-up drilling.
Wide intervals of anomalous zinc concentrations occur in most of the drill holes. This and the fragmental nature of the volcano-clastic sequences suggest that this is potentially a zinc-rich volcanogenic massive sulphide (“VMS”) environment. The following notable concentrations are:
The concentration of platinum and palladium is generally less than 15 parts per billion (“ppb”), which is representative for basaltic-komatiites from elsewhere in Canada and Australia. However, of note are the platinum and palladium values near the end of hole in Elec22-06 where a high of 121 ppb platinum and 33 ppb palladium was found in over 0.75 metres from 162 to 162.75 metres. The observation in the drill log for Elec22-06 of disseminated sulphides in the gabbroic host rock suggest that this drill hole should be followed up to a greater depth.
Two strongly anomalous copper values were found in the drill core: Elec22-05 – 2,050 ppm copper over 0.46 metres from 60.00 to 60.46 metres, and Elec22-06 – 1,375 ppm copper over 0.47 metres from 61.49 to 61.96 metres.
The Electra magmatic-sedimentary geological and geophysical environment is similar to that of other komatiite-hosted nickel sulphide terranes in Canada and Western Australia. The challenges encountered at Electra are similar to those in other komatiitic terranes; i.e., the presence of barren sedimentary and volcanogenic conductive sulphides with high background zinc concentrations.
In the late 1990’s a “nickel-sulphide” geochemical vector was developed in the Kambalda nickel camp of Western Australia. The vector was formulated not to find obvious nickel sulphide mineralization that could be observed directly in drill core, but to point out stratigraphic horizons with chemical signatures suggestive of potential enhanced nickel-copper-PGE sulphide concentrations along strike. Other than obvious nickel sulphides observed and subsequently assayed from core, potential nickel sulphide horizons can remain hidden (cryptic) and only detected by the application of proven geochemical vectors. ALX continues to evaluate the outcome of the 2022 exploration program by integrating the geological, geochemical and geophysical results in order to determine the best target areas for follow-up drilling. ALX’s drilling permit at Electra is good until March 2025.
In hole Elec22-06, 0.444 grams/tonne (“g/t”) gold with an accompanying value of 8.33 g/t silver over 0.68 metres was noted from 61.96 to 62.64 metres in a mudstone unit.
In 2021, ALX kicked off exploration with a vertical time-domain electromagnetic (“VTEM™ Plus”) geophysical survey which is designed to obtain accurate deep penetrating data and provide the industry’s highest resolution of conductors and anomalies.
The VTEM™ Plus” survey identified strong conductive features in the northern and central parts of Electra, previously undetected by historical EM surveys, and where historical grab samples returned up to 0.95% Ni in showings hosted within komatiitic rocks.
A follow-up surface prospecting, mapping, and geological survey assisted with selecting drill targets for a planned winter 2022 drill program.
Two historical gold showings: Winslow and Hemlo require follow-up exploration.
National Instrument 43-101 Disclosure
The technical information on this web page has been reviewed and approved by Sierd Eriks, P.Geo. (Retired), who is a Qualified Persons in accordance with the Canadian regulatory requirements set out in NI 43-101. Readers are cautioned that some of the technical information described on this web page is historical in nature; however, the historical information is deemed credible and was produced by professional geologists/geoscientists in the years discussed.
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CSE : GXP
FRA : HW3
OTC : GXPLF