Friday, 19th September 2008 (433 views)

ALIX Resources has announced results from its Arcadia Bay project situated on the Arctic Ocean.

Analysis carried out by gold fire assay provided several "encouraging intersections", the company said.

Significant figures include 6.70 g/t gold over 6.85 metres, 0.86 g/t gold over 4.5 metres and 1.09 g/t gold over eight metres.

The site is located 140km west of Miramar Mining's Hope Bay greenstone belt and falls within Canadian territory.

It has been the subject of a past resource estimate that placed reserves at 139,524 tonnes averaging 8.6 g/t gold in the Fred vein and 640,650 tonnes averaging 7.2 g/t gold in the north-central vein.

Meanwhile, Skybridge Developments have stated that their directors - who are experienced Arctic explorers - believe that Canada's Nunavut and Northwest Territories areas will become the country's next great mining districts.

The firm recently intersected high-grade mineralisation at its Blue Caribou project.

 

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