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, ALX Resources (TSXV:AL) recently announced that it has signed a final agreement to choose to purchase a 100% interest in the Electra nickel project at the Thunder Bay South mine in Ontario. The deal involves 148 units with a total area of more than 3000 hectares, ALX said in a press release. The total payments were $135000 in cash, 1.1 million shares of ALX common stock and $500000 in exploration expenses.
According to the Vancouver-based miner, Electra (Electra) (, formerly known as the Bateman Lake (Bateman Lake)), is expected to mine nickel, copper, cobalt, platinum group elements and gold mineralization. The media bulletin said: in the surface sampling, the presence of spinel-textured nickel-iron ultramafic rocks with a nickel content of up to about 1.0% is reminiscent of the mineralization types found in the Kambalda area of Australia and the Raglan area of Quebec.