Alix Intersects + 1,000 PPM Lithium IN the 1ST Drill Hole ON Its Agua Fria Lithium Project, Sonora Mexico
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Suite 1240, 789 West Pender St. Vancouver, British Columbia
Phone: 604-683-3995/ Toll Free: 888-945-4770/Fax: 604-683-3988
ALIX INTERSECTS + 1,000 PPM LITHIUM IN THE 1ST DRILL HOLE ON ITS AGUA FRIA
LITHIUM PROJECT, SONORA MEXICO
April 2 5th, 2017, Vancouver, BC, Canada –ALIX RESOURCES CORP. (“Alix” or the
“Company”) (AIX-TSX:V) (37N –FRANKFURT) is pleased to announce the results of the first
reverse circulation (“RC”) hole which intersected two intervals of +1,000 parts per million (“ppm”)
lithium (Li) on the Agua Fria target, of the Electra Project in Sonora, Mexico. Highlights to date include:
The first vertical h ole, AF-17-001, was drilled to a depth of 126 meters, intersecting two
intervals of +1,000 ppm Li in clay-bearing volcanogenic sediments, including 33meters from 3
to 36 meters averaging 1058ppm Li, and 21meters from 54 to 75 meters averaging 1043ppm Li.
Assays over 1,000 ppm are significant, and represent the cut-off grade used by SRK Consulting
(UK) Limited on the neighboring La Ventana l ithium deposit, owned jointly by Bacanora
Minerals Limited (70%) and Rare Earth Minerals PLC (30%);
Drilling on the Agua Fria project is progressing well with five completed holes totaling 625
meters. Assays have only been received for hole AF-17-001;
The Agua Fria projects is being undertaken by a local drilling contractor u sing a tracked
mounted RC rig. The project is staffed by a multinational crew from Canada, Australia and
Mexico;
The Agua Fria project is believed to be the first, comprehensive, fielding test of a portable Laser
Induced Breakdown Spectroscopy (LIBS) using a SciAps Z300 instrument pre -calibrated for
material type and lithium grade to provide “real time” assay verification.
Li assays have been received from one drill hole (AF-17-001), and the initial correlation between
obtained laboratory values to concentrations determined by the SciAps Z300 instrument is
relatively good and very encouraging. Additional applications are being considered to expedite
other targets;
The Agua Fria projec t envisions a 3,000 meters reverse circulation drilling program
investigating a 5 kilometer-long sedimentary unit hosting lithium-enriched clay layers.
Mike England, president of Alix, stated: "We are very pleased with the results from the first drill hol e
and the drill progress to date the Agua Fria lithium clay targets. With an international team of Canadian,
Australian and Mexican personnel, the objective is to discover lithium -rich clay deposits similar in
grade and size to that of the Bacanora/REM La Vantana deposit."
Alix and Lithium Australia (“LIT”)(LIT – ASX) further announce that LIT has now satisfied all aspects
for its Stage 2 earn-in to 49%. Alix has requested that the Phase 3 JV earn-in be accessed early to ensure
the maiden drill campaign is not frustrated for lack of funds resulting in the two Compani es amending
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Phase 3. The remaining 16% earn -in will be staged as listed below and subject to drill results, LIT
retains the right to determine the key aspects of the drilling campaign:
LIT can earn a further 16% interest in the Project (65% cumulative) in three stages as listed below:
% earned Expenditure Shares Cash Cumulative
%
5 343,750 468,750 78,125 54
5 343,750 468,750 78,125 59
6 412,500 562,500 93,750 65
16 1,100,000 1,500,000 250,000
Additionally, the Company also wished to announce the resignation of Tracy Weslosky from its Board
of Directors to better focus on other venues. Alix thanks Ms. Weslosky for serving as a Board member
and looks forward to continuing working together in the future.
The technical contents of this release were approved by Dr. Michel Boily, PhD, P. Geo, a qualified
person as defined by National Instrument 43-101. The properties have not been the subject of a National
Instrument 43-101 report.
About Alix Resources
Alix Resources is a junior mining exploration company focused on seeking and acquiring world class
lithium projects globally. Alix continues to evaluate suitable prospects that fit the mandate of the
Company.
ON BEHALF OF THE BOARD
“Michael England”
Michael England, President, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward -looking statements, which relate to future events or
future performance and reflect management’s curr ent expectations and assumptions. Such forward -looking statements reflect
management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investo rs
are cautioned that these forward looking statements a re neither promises nor guarantees, and are subject to risks and uncertainties
that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof
and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them
to reflect new events or circumstances. All of the forward -looking statements made in this press release are qualified by these
cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).