ALIX RESOURCES CORP. is pleased to announce the acquisition through a Purchase Agreement, of 100% mineral rights for specified metals, including lithium, for the Gran 2 concession, located in Sonora, Mexico.
The 400-hectare Gran 2 concession is surrounded by the concession owned by Bacanora Minerals Ltd. (BCN-TSX:V) and Rare Earths Minerals PLC (REM), east of the town of Granados and 600 metres east of BCN-REM's Buenavista drilling area.
BCN-REM's Buenavista Concession boasts well documented lithium mineralization on surface and in reverse circulation ("RC") drill holes, with the most significant drill intersection on the concession returning 12 metres of 1,421 ppm lithium (0.142% Li) from a depth of 29 metres (12 m of 0.76% lithium carbonate-equivalent ("LCE"*)) (see Bacanora NR dated 2015-01-14). BCN-REM has also announced a conditional long-term lithium hydroxide supply agreement with Tesla Motors Inc., related to its nearby Sonora Lithium Project.
The Gran 2 concession is also located less than 1,000 metres east of U.S. Borax samples which returned values of 386, 416, 841, 1,043 and 1,096 parts per million (ppm) lithium (Li) on the Buenavista Concession, and approximately 6,500 metres south of Alix's recently announced clay prospect on its Tecolote Concession (see Alix NR dated 2016-01-06).
The concession is readily accessible through a system of secondary roads that parallel the Bavispe River and has been visited by Alix representatives, but has not yet been sampled or mapped.
Mike England, President of Alix states, "The Gran 2 represents a very strategic property acquisition which may be underlain by the same geology that BCN-REM has drilled with significant lithium-rich clay beds."
Terms of the acquisition for the Gran 2 concession, upon TSX Venture Exchange approval, call for the issuance of 200,000 common shares of Alix, on or before 5 days after approvals, a cash payment of US $5,000 no later than March 1, 2016, and the issuance of 300,000 common shares of Alix on the twelve month anniversary, to an arms-length vendor (Mexican corporation). Alix will become the owner of all mineral rights; excepting the rights for precious (gold and silver) and base metals (copper, lead, zinc, nickel and iron) on the lands comprising the Property. The vendor will retain a 1.0-per-cent net smelter royalty (NSR), which may be purchased back by Alix at any time for $1-million.
The technical contents of this release were approved by Mr. Case Lewis, Director of Alix and a Qualified Person as defined by National Instrument 43-101. The properties have not been the subject of a National Instrument 43-101 report.