Alix Resources Corp (TSXV:AIX) is a lithium junior exploration company with properties in both Mexico and Canada. The company’s flagship project is the Electra lithium property which includes two concessions adjoining with Bacanora Minerals (BCN) and Rare Earths Minerals (REM)’s joint venture Sonora lithium project located in Sonora, Mexico. The Sonora project is one of the world’s largest lithium resources.
Alix Resources’ recent discovery of lithium-bearing clay structures at Electra led to a strategic joint venture agreement with Lithium Australia. A Phase 1 exploration program at Electra is planned and slated to begin in Q2 2016.
Next Door: Sonora Lithium Project
Alix Resources’ Electra Project is contiguous to the southern and northern boundaries of BCN-REM’s Sonora Lithium Project which contains three large near-surface deposits hosted in lithium-bearing clays: La Ventana, Fleur–El Sauz and Megalit. Together these three deposits have an indicated resource of 5 million tonnes of lithium carbonate equivalent and an Inferred resource of 3.9 million tonnes of lithium carbonate equivalent.
A preliminary economic assessment for Sonora was completed in March 2016, demonstrating highly attractive economics. The study indicates a pretax internal rate of return of 29 percent and an associated net present value of US$776 million at an 8-percent discount rate. The Sonora project is now being fast-tracked to production with pilot plant trials expected for completion in Q3 2016 followed by a completed feasibility study in Q1 2017.
The Electra Project’s concessions target interpreted extensions of lithium-bearing clays extending from the Sonora property. “We’re the only other junior in this exciting neighborhood,” explains Michael England, Alix Resources President and CEO. “We have picked up 22,000 hectares of land to the north and the south adjoining the Sonora project and on trend with their deposit as per their own maps. Geology-wise we definitely have the same structures on our property, especially in the south.”
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