ALIX COMPLETES TWO DEEP HOLES INTO THE GOLDEN ZONE BRECCIA PIPE AT GOLDEN ZONE, ALASKA
August 19, 2011, VANCOUVER, B.C.– ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased to announce the completion of two deep holes into the Breccia Pipe deposit at the Golden Zone property in the Valdez Creek Mining District in south-central Alaska. The two holes were designed to test the mineralized breccia pipe at depth and to provide mineralized material for future continued metallurgical testing. Both of the holes encountered significant zones of extreme visible mineralization.
In January of 2011 Alix announced the release of a revised resource model and N.I. 43-101 compliant resource estimate for the Golden Zone Breccia Pipe by Norwest Corporation (see Alix News, January 20, 2011) indicating the deposit to contain, at a 1.0 g/T cut-off, 3,169,331 tonnes (3,486,250 tons) of measured and indicated material averaging 3.02 grams per ton Au and containing 279,166 ounces of gold, 1,523,657 ounces of silver and 3,233 tonnes (3,556 tons; 7,112,00 lbs) of copper. A detailed breakdown of these resources is contained in the referenced press release, in the N.I. 43-101 report on SEDAR and on Alix's web site www.alixresources.com.
Drill Hole GZBX11-003 was collared near the center of the breccia pipe outcrop and was drilled "down the throat of the pipe" at an incline -730 on a 450 (due northeast) azimuth. The hole was drilled to 309.2 meters (1014.5 feet) and was in mineralized brecciated porphrytic monzodiorite and brecciated monzodiorite from the collar to 253.9 meters (833 feet) where the brecciated rock gradually transformed into porphyritic monzodiorite, monzodiorite and gabbro (dikes) with mineralized veins and veinlets that persisted to the bottom of the hole. The hole was generally strongly to moderately silicified and argillic-altered with argillation becoming dominant in the lower portions of the hole; carbonate alteration was also identified through much of the hole. Pyrrhotite, arsenopyrite, pyrite, chalcopyrite and minor sphalerite were the primary sulfide minerals and varied from weak to strong in the hole. Very fine gold is known to accompany arsenopyrite and chalcopyrite mineralization in the deposit.
Drill hole GZBX11-004 on the northeast margin of the breccia pipe outcrop was a vertical hole drilled to 264.9 meters (869 feet) and was collared approximately 83 meters (272 feet) due northeast and 33.5 meters (110 feet) in elevation below that of GZBX11-003. GZBX11-004 was designed to test the margin of the breccia and the adjacent country rock in this area. The hole started in brecciated porphyritic monzodiorite to 43.6 meters (143 feet), then passed through a zone of hornfelsed argillite to 101.8 meters (334 feet), then back into brecciated porphyritic monzodiorite to 198.6 meters (651.5 feet), then less brecciated and veined porphyritic monzodiorite and monzodiorite to the bottom of the hole. Again strong to moderate silicification and argillation were the dominant alterations with local carbonate alteration, and again pyrrhotite, arsenopyrite, pyrite, chalcopyrite and sphalerite were the primary sulfide minerals with mineralization found both in the breccia and the adjacent country rock.
Three hundred fifty-eight (358) roughly 1.52-meter (5-foot) samples from the two drill holes have been submitted by Alix to ALS Laboratories for analyses. Alix's QA/QC program also includes one standard and one blank inserted in each 20-sample series.
The two drill holes were drilled in a plane along the 5050 Golden Zone mine grid section, and together they extend the known mineralization downward some 110 meters (360 feet) in that section. While assay data are still lacking, this extension of the mineralization is believed to be significant.
Alix's 2011 program is directed by David Hedderly-Smith, Ph.D., P.G., who is a Director of Alix and a Qualified Person as defined by NI 43-101 and who also prepared and approved the geological and technical information contained in this release. Dr. Hedderly-Smith is being be aided by Dr. Charles C. Hawley, another Alix Director and Q.P. Dr. Hawley has been associated with the development of the Golden Zone property for nearly 40 years.
Alix Resources is a junior exploration company actively seeking base and precious metal venture opportunities for the benefit of all of its stakeholders. For more information visit the website at www.alixresources.com.
ON BEHALF OF THE BOARD
Michael England, President
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