Quantcast

Alix Resources and Geo Minerals Announce Acquisition of Properties With 2 Separate Historic Coal Intercepts in South Central Saskatchewan

September 12, 2008

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 12, 2008) – ALIX RESOURCES CORP. (TSX VENTURE:AIX) and GEO MINERALS LTD. (TSX VENTURE:GM) (The “Companies”) announce the acquisition of 100% interests, subject to a royalty, in several blocks of Coal Disposition Applications that have been confirmed by Comfort Letters as first priority from the Saskatchewan Energy and Resources department. All the acquired areas have historic coal occurrences within Lower Cretaceous Stratigraphy, and cover approximately 5 townships, or about 45,000 hectares, in size. The Companies have entered into a joint venture agreement to each own a 50% interest and incur all costs and expenditures as such.

Three blocks acquired consist of six known outcrops on the south shore of Wapawekka Lake and two coal intercepts on the eastside of Montreal Lake that are not contiguous. Another application consists of two documented coal outcrops in south central Saskatchewan.

The six coal outcrops occur over a 3.5 mile distance on the south shore of Wapawekka Lake within Lower Cretaceous Stratigraphy. The first outcrops were discovered in 1909 with subsequent discoveries of outcrops made in the 20′s and 30′s by Government of Canada Geologists. A Department of Mineral Resources, Province of Saskatchewan publication titled “Silica Sand and Coal Occurrences on Wapawekka Lake” by Pearson 1961, contains descriptions of both the Wapawekka Lake outcrops and the Montreal Lake coal seams. It is reported that Worcester in 1909 trenched one outcrop for a distance of 17 feet and the seam swelled from a thickness of 4.5 feet to 5.6 feet. On the east side of Montreal Lake a 14 foot intercept at 630 feet and a 30 foot intercept at 720 feet were discovered in bore holes in the late 1950′s. These two intercepts are approximately 17 kilometers apart.

Pearson also stated in the report, “The coal outcrops at Wapawekka lake…may indicate the northern edge of a coal field lying to the south, southwest and west of Wapawekka Lake.” Subsequent to this report, Anglo American drilled an exploratory hole outside of the acquisition area in 1969, 18 miles due south of the Wapawekka Lake outcrops that intercepted 80 feet of coal at a depth of 627 feet, reported in assessment report 73I0001.

The south central Saskatchewan block covers two detailed outcrops in Saskatchewan Energy Resources Miscellaneous report 2003-7.

Terms for the two new property acquisitions call for a consideration of $30,000 and 100,000 common shares from each of the Companies plus a 2% royalty. The transaction is subject to regulatory approval.

Saskatchewan Energy Resources has recently announced that it does not require any drilling applications for drill holes up to 150 meter in depth, that only Ministry notification is required. It is anticipated that a crew will visit the Wapawekka Lake outcrops to begin surface exploration to pinpoint, and trench the outcrops and to also survey the area prior to beginning a near surface drill program.

The technical contents of this release were approved by Geo Minerals director and Alix Resources advisory board member and qualified person as defined by National Instrument 43-101, Marvin Mitchell, P.Geo.

For further information we invite you to visit us at www.alixresources.com.

Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders.

ON BEHALF OF THE BOARD

Michael England, President

(c) 2008 Marketwire. Provided by ProQuest LLC. All rights Reserved.




comments powered by Disqus