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  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction to Mining in Ontario
06 Government of Ontario Interview
07 Ontario Mining Association (OMA) Interview
08 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Interview
09 Navigating Uncertainty
10 Ormston List Frawley LLP Interview
11 PDAC Interview
12 Section 2: Production and Development in Ontario
13 Production in Ontario
14 Map of Ontario Mines
15 Newmont Interview
16 Barrick Gold Interview
17 Wesdome Gold Mines Interview
18 Alamos Gold Interview
19 Evolution Mining Interview
20 A New Wave of Ontario Gold Mines
21 Argonaut Gold Interview
22 Equinox Gold Interview
23 Industry Thoughts: Production and Development in Ontario
24 Section 3: Mining Finance
25 Mining Finance and Investment
26 Insights from the Toronto Stock Exchange
27 PearTree Securities Interview
28 Triple Flag Interview
29 Red Cloud Securities Interview
30 IBK Capital Interview
31 Stifel Interview
32 Roth Canada Interview
33 Industry Thoughts: Mining Finance Trends
34 Section 4: Toronto's Global Reach
35 Toronto’s Global Reach
36 Toronto's Global Reach Map
37 Rupert Resources Interview
38 Eloro Resources Interview
39 Industry Thoughts: Global Operations Based in Ontario
40 Eyes on Latin America
41 Torex Gold Resources Interview
42 Minera Alamos Interview
43 Sable Resources Interview
44 Section 5: Junior Exploration
45 Junior Exploration
46 Great Bear Resources Interview
47 Exploring Across Canada
48 O3 Mining Interview
49 Purepoint Uranium Group Interview
50 ALX Resources Interview
51 Industry Thoughts: Gold Juniors Have Their Say
52 Gold Juniors Replacing Depleting Resources
53 Moneta Gold Interview
54 Goldshore Resources Interview
55 Galleon Gold Interview
56 Element79 Gold Interview
57 Signature Resources Interview
58 Section 6: ESG and the Battery Materials Supply Chain
59 Transition Metals on the Rise
60 Conquest Resources Interview
61 Generation Mining Interview
62 Inventus Mining Interview
63 Noble Mineral Exploration Interview
64 The Move to Combat Climate Change Gathers Pace
65 Insights from Onyen Corporation
66 Thorn Associates Interview
67 Leading the Charge
68 Electra Battery Materials Interview
69 Frontier Lithium Interview
70 Industry Thoughts: Entering The Transition Economy
71 The Battery Material Supply Chain
72 ION Energy Interview
73 Clean Air Metals Interview
74 Section 7: Services, Technology and Innovation
75 Engineering, Construction & Consultancies
76 Ausenco Interview
77 Cementation Americas Interview
78 PCL Construction Interview
79 Redpath Mining Interview
80 Technological Advancements & Innovation
81 Industry Thoughts: Canadian Associations
82 EY Interview
83 Maestro Digital Mine Interview
84 Centric Mining Systems Interview
85 Industry Thoughts: OEMs Have Their Say
86 Drone Delivery Canada Interview
87 Sofvie Interview
88 Novamera Interview
89 Industry Thoughts: Paving the Way for ESG Reporting
90 Section 8: Company Profiles
91 Wesdome Company Profile
92 ION Energy Company Profile
93 PearTree Securities Company Profile
94 Ormston List Frawley Company Profile
95 Maestro Digital Mine Company Profile
96 Sofvie Company Profile
97 Credits

Warren Stanyer, CEO and Chairman,

ALX RESOURCES

"We know that the Cannon Copper project in Ontario holds high-grade copper, but still have to establish the size of the system."

What role is Rio Tinto playing in ALX Resources’ Falcon nickel project?

In 2020, ALX Resources signed an option agreement with Rio Tinto for the Firebird nickel project (formerly Falcon nickel project) in northern Saskatchewan. It is an earn-in deal where they can get up to 51% interest in the Firebird property by funding C$3 million in exploration expenditures within three years of the date of the agreement. They can also elect to execute their right to acquire up to 80% in the project through spending a total of C$12 million in exploration expenditures over six years and making a total of C$125,000 in cash payments to ALX. Thus far, we have completed one drilling program, which was successful in locating the style of mineralization that we are looking for – magmatic sulphides. We did not find economic quantities, however, the exploration method is working well which includes airborne surveys, followed up with ground surveys, and in some cases, diamond drilling.

What is your vision for the Electra project?

In December 2020, ALX signed a definitive agreement for an option to purchase a 100% interest in the Electra nickel project in Ontario. This is quite an interesting project that has been dormant for some time and has not had a drill hole since 1995. The past-producing high-grade nickel Shebandowan mine is located approximately 35 km to the northwest of Electra. We recently completed a leading-edge airborne survey which has pinpointed conductors that were not detected by historical surveys, presumably due to a lack of depth penetration of previous systems.

We will be focusing our exploration attention on Electra to build out what we believe will be a quite sizable project. Electra is located approximately 35 kilometers northwest of Thunder Bay in a fertile exploration district well-linked to highways, roads and trails, and lies near a powerline and the Canadian National Railroad.

How will you continue developing Cannon Copper and Vixen projects?

In January 2021, ALX announced an exploration review on our 100%-owned Cannon copper project in Ontario, at the time that copper prices were again starting to surge. We did an airborne survey with and are currently evaluating the data. We know that this asset holds high-grade copper, but still have to establish the size of the system. It has been over a year since we acquired the Vixen gold project in Ontario, where we completed some prospecting activities. In 2021 we were approached by First Mining Gold Corp. who made an offer to earn an initial 70% interest in Vixen by making cash payments totaling C$550,000, issuing shares totaling C$400,000 to ALX, and by incurring at least C$500,000 of expenditures at Vixen during the first three years of the option term. Upon completing the first stage of the earn-in, First Mining will hold a 70% interest in Vixen and will have an additional two-year period to acquire the remaining 30% interest in Vixen by electing to make a C$500,000 cash payment to ALX and by issuing shares to ALX totaling C$500,000. The Vixen project is quite remote and thus expensive to prospect, whereas First Mining has a base at Springpole camp, which makes prospecting for them more economical.

How was the company affected by the pandemic?

ALX started drilling Firebird in March 2020 and soon had to shut down the program due to the pandemic. In 2020, the gold market surged, which caught the assay labs flat footed as they did not have the workforce to accommodate the demand. This resulted in a huge backlog with labs only now starting to recover and getting back to normal turnarounds. First Nations were hit pretty hard by the pandemic, making it challenging to engage with our surrounding communities causing slowdowns in our operations.

Can you elaborate on ALX’s balance sheet and the company’s financing strategy to advance its projects in Ontario?

In June 2021, ALX completed a C$1.5 million financing round and another C$3.1 million raise in October. We raised over C$5 million in 2021, including all the warrants exercised and property sales.

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Industry Thoughts: Gold Juniors Have Their Say