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(TheNewswire)
Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to provide a corporate update and lay out its exploration plans for 2022 including its maiden drill program for its Timmins Nickel Project (the " Property ") located near Timmins, Ontario
Deepak Varshney, Xander CEO, said, "2021 has been a year of steady progress for Xander despite the challenges of the COVID-19 pandemic. We successfully completed our maiden drill program at our Senneville Gold Project, acquired the Timmins Nickel Project, and have seen significant changes in management. We have been very active on the ground at all our projects, collecting extensive data through drilling, sampling, prospecting, and geophysical surveys. We are excited to head into 2022 with drill programs planned at 2 properties and look forward to an aggressive exploration program in the coming year."
2021 Recap
Acquired a further 20 claims to add to its Senneville Gold Project adjacent to Monarch Mining's McKenzie Break property and Probe Metals Val-d'Or East Project (see PR dated April 26, 2021 - https://xanderresources.ca/news/xander-increases-pressence-in-val-dor-gold-camp/ ).
Began exploration to assess for lithium potential on the western portion of its Sennevile Gold Project in close proximity to the North American Lithium Deposit, Great Thunder Gold Lithium property, and Sayona Quebec Authier Lithium Deposit (see PR dated May 6, https://xanderresources.ca/news/lithium-geophysical-exploration-commences-on-senneville-claim-group-val-dor/ ). Work completed in 2021 includes a beep mat survey, prospecting, mapping and sampling, providing valuable information for the Company to build on in 2022.
Completed an initial channel sampling program at its Fenelon Blue Ribbon Property, excavating four (4) trenches returning up to 1.42 gpt (see PR dated May 26, 2021 - https://xanderresources.ca/news/fenelon-blue-ribbon-property-channel-sampling-program-identifies-gold-occurrences/ ).
The Blue Ribbon Property is the only property in the camp with visible gold at the surface and is within close proximity to Wallbridge Mining's Fenelon Mine Project where the current exploration program is budgeted for $112 million and an indicated mineral estimate of 2,670,600 oz gold was recently announced (see PR dated November 9, 2021 - https://wallbridgemining.com/news/wallbridge-announces-mineral-resource-estimate-for-fenelon-and-martiniere-deposits-on-detour-fenelon-gold-trend/ )
Completed a maiden 980-metre drill program over 3 holes targeting high-grade gold at its Senneville Gold Project, identifying a structure that extends at least 361 metres along strike with an interval grading 18.15 gpt Au (see PR dated July 14, 2021 - https://xanderresources.ca/news/xander-resources-hits-18-15-grams-a-ton-over-85-meters-at-senneville-south-property/ ).
Accelerated the buyout of the options at its Senneville Gold Project, enabling the Company to better allocate its exploration expenditures and ensure more efficient utilization of financial and other resources to thoroughly and systematically explore for gold and lithium (see PR October 27, 2021 - https://xanderresources.ca/news/xander-resources-announces-accelerated-buyout-of-senneville-properties/ ).
Acquired the Timmins Nickel Project, which consists of 236 claims west of Canada Nickel Company's (CNC) Crawford Project, where CNC has already completed a preliminary economic assessment only 20 months after the commencement of exploration drilling that indicates a 25-year mine with an after-tax NPV 8% of $1.2 billion, and 50 claims adjacent to CNC's MacDiarmid Project, where CNC has identified a target 15% larger than the original Crawford's Main Zone discovery (see PR dated Nov 1, 2021 - https://xanderresources.ca/news/xander-resources-acquires-50-claims-contiguous-to-canada-nickels-macdiarmid-project-236-claims-west-of-cncs-crawford-project/ ).
Upon executing the agreement, Xander immediately commenced with fieldwork and has already completed an initial reconnaissance visit for its maiden drilling program in 2022 (see PR dated Dec 7, 2021 - https://xanderresources.ca/news/xander-resources-completes-reconnaissance-program-at-timmins-nickel-project/ ).
Staked and sold 39 claims adjacent to its Senneville Gold Project. The claims were acquired for approximately $2,400 and sold for aggregate consideration of $100,000 in common shares to QL Minerals, an exciting new battery metals company that intends to go public on a Canadian securities exchange in 2022 (see PR dated December 1, 2021 - https://xanderresources.ca/news/xander-resources-announces-appointment-of-adrian-smith-as-a-director-and-sale-of-senneville-claims/ ).
Strengthened its management team by adding three professional geologists, Deepak Varshney, P.Geo., Adrian Smith, P.Geo., and Andrew Tims, P.Geo., and a mining engineer, James Walker.
Deepak, Adrian and James add strong public company experience as they presently are also CEOs of Usha Resources Ltd. (USHA.V), ArcPacific Resources Ltd. (ACP.V), and Ares Strategic Mining Inc. (ARES.CN).
The Company's new QP, Andrew Tims, provides the Company with significant technical expertise, as he was the senior exploration geologist at Rainy River Resources that developed the Rainy River resource from 550,000 ounces of gold in 2005 to over six million when it was acquired by New Gold in 2013.
2022 Exploration Plans
Timmins Nickel Project
The Company is budgeting 1.5 million dollars for exploration at its Timmins Nickel Project in 2022. Exploration work will include:
Completing further geophysical surveys and 3D inversion modelling to refine the existing targets.
Completing a 10-hole, 2,500-metre core drilling program at its North Claim block.
Completing a 3-hole, 1,200-metre core drilling program at its South Claim block.
Senneville Gold Project
The Company is budgeting $500,000 for exploration at its Senneville Project in 2022. Exploration work will include:
Completing geophysical surveys and 3D inversion modelling to develop drill targets on the eastern half of the property with a particular focus in the area adjacent to Monarch Mining and Mackenzie-break style targets.
Completing a 1,000-metre core drilling program following the development of targets.
Completing additional surveying, prospecting, and sampling to explore the lithium geology on the western portion of its claims.
Fenelon Gold Project
The recent promising results from the Fenelon Gold Camp, particularly Wallbridge Mining's announcement of its maiden mineral reserve estimate for their Fenelon and Martiniere deposits, has prompted the Company to accelerate its Fenelon exploration plans.
The Company intends on in the coming months to design a plan for Winter 2022 when the property is more accessible. Exploration will be focused around a showing discovered by Government geologist Jérome Remick in 1969 where a gold value of 8.5 g/t Au over 0.76 meters was reported. Two (2) drill pads have been prepared at the Site for future drilling. The Company will announce a detailed plan in 2022 upon completion of the design.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (" NI 43-101 ").
About Xander Resources Inc.
Xander Resources Inc. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada focused on developing accretive gold and battery metal properties within Canada. The company currently has a focus on projects located within the Provinces of Ontario and Quebec.
Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val-d'Or, Quebec, including the Senneville Claim Group which comprises over 100 sq. km and is contiguous in the south to Probe Metals' new discovery, and contiguous in the north to Monarch Mining, in close proximity to Eldorado Gold's (formerly QMX Gold) projects, and east of the North American Lithium Deposit, Great Thunder Gold‘s Chubb Lithium property and East of the Sayona Quebec's Authier Lithium Deposit, all in the Val-d'Or Mining Camp, plus its newly acquired nickel-sulphide project in Timmins, Ontario near Canada Nickel's MacDiarmid and Crawford Projects.
We seek Safe Harbor
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information, please phone Dan Sammartino, Investor Relations, at 778-962-0234, email ir@xanderresources.ca , or visit www.xanderresources.ca .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
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