Xander Resources Completes Second Phase of Drilling Program for Timmins Nickel Project

Xander Resources Completes Second Phase of Drilling Program for Timmins Nickel Project

 

(TheNewswire)

 
    
  Xander Resources Inc. 
       
 

Vancouver, British Columbia TheNewswire - March 20, 2023 Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce that it has completed the second phase of its fully financed drill program at its Timmins Nickel Project (the " Property ") located in Timmins, Ontario.

 

  The drill program comprised 1,559 metres across six (6) drill holes and continued Xander's strategy of targeting geophysical anomalies on its claims that are on trend and/or adjacent to properties where Canada Nickel Company (CNC) has identified significant nickel mineralization.  

 
  •  

      Three (3) holes, NKV23-1, NKV23-2, and NKV23-3, targeted the northern part of the Company's "North Block" on claims along trend with CNC's Mahaffy and Nesbitt properties. Both properties have been drilled by CNC, with the first two drill holes at Nesbitt returning significant intersections of mineralization with intervals of visible disseminated sulphides consistent with the Higher Grade Zone at CNC's Crawford Project where a preliminary economic assessment indicates a 25-year mine with an after-tax NPV (net present value) with 8-per-cent discount rate of $1.2-billion (    https://bit.ly/3YMsYFi    ,    https://bit.ly/3E3b3CB    ).  

     

  •  
  •  

      Three (3) holes, NKV23-4, NKV23-5, and NKV23-6, were drilled in the Company's "South Block" of claims that are adjacent to CNC's MacDiarmid Project where CNC announced its second major discovery in the Timmins Camp with a target that is approximately 15% larger than Canada Nickel's original Crawford's Main Zone discovery (    https://bit.ly/3RVjMfI    ).  

     
  •  
  •  

      Ultramafics comprising komatiitic flows, gabbro and/or peridotite were intersected in five (5) of the six (6) drill holes. Notable intercepts include:  

     
  •  
                                     
 

  Drill Hole  

 
 

  Rock Type  

 
 

  Interval Length (metres  

 
 

  Interval Range (metres)  

 
 

  NKV23-02  

 
 

  Komatiite  

 
 

  42.1  

 
 

  189.1 – 231.5  

 
 

  Komatiite  

 
 

  18.8  

 
 

  240.0 – 258.8  

 
 

  NKV23-03  

 
 

  Komatiite  

 
 

  87.0  

 
 

  186.0 – 273.0  

 
 

  NKV23-04  

 
 

  Komatiite  

 
 

  54.5  

 
 

  54.0 – 108.5  

 
 

  Komatiite  

 
 

  38.4  

 
 

  111.5 – 149.9  

 
 

  Peridotite/Gabbro  

 
 

  76.8  

 
 

  178.2 – 255.0  

 
 

  NKV23-05  

 
 

  Peridotite/Gabbro  

 
 

  201.6  

 
 

  50.4 – 252.0  

 
 

  NKV23-06  

 
 

  Komatiite  

 
 

  22.0  

 
 

  214.7 – 236.7  

 
  

  Peridotite  

 
 

  22.8  

 
 

  236.7 – 259.5  

 
 

  The assay results from the second phase drill program will be released following their receipt, compilation and interpretation.  

 

    
Click Image To View Full Size
 

 

Figure 1 - Location of drill holes comprising the second phase of Xander's maiden drill program.

 

  The Timmins Nickel Project  

 

  The Timmins Nickel Project consists of two (2) separate mineral claim blocks (as shown in Figure 2 below) and is located within the Timmins mining camp in Ontario, Canada, a highly prolific mining complex with over 100 hundred years of history and well supported by major infrastructure including highways, rail, and relatively inexpensive hydroelectric power.  

 

  The "North Block" consists of 336 claims located approximately 21 kilometres west of Canada Nickel Company's (CNC's) Crawford Project where CNC has completed a preliminary economic assessment only 20 months after the commencement of exploration drilling that indicates 25-year mine with an after-tax NPV   8%   of $1.2 billion     i     . It is also situated southwest of Kingsmill, Mahaffy-Aubin, and Nesbitt North, properties acquired from Noble Mineral Exploration by Canada Nickel through option agreements earlier in 2021     ii     and adjacent to CNC's recently identified Reid Discovery which has already through early exploration delineated a mineralized footprint 90% as large as Crawford.  

 

  The "South Block" consists of 50 claims contiguous to Canada Nickel's MacDiarmid Project where in May 2021, Canada Nickel announced a secondary discovery through the identification of significant intersections of mineralized dunite similar to the average mineralization initially discovered at Crawford.   Geophysical   surveys reveal that the MacDiarmid target to be approximately 1.8 kilometres long indicating a structural footprint averaging 400 meters in width – 15% larger than Canada Nickel's original Crawford's Main Zone discovery     iii     .  

 

    
Click Image To View Full Size
 

 

Figure 2 - Location of Xander's Claims in the Timmins Camp

 

  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 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.  

 

   i    Preliminary Economic Assessment, titled "Crawford Nickel-Sulphide Project National Instrument 43-101 Technical Report and Preliminary Economic Assessment", Effective Date of May 21, 2021  

 

   ii    https://canadanickel.com/wp-content/uploads/2021/04/20210422-Canada-Nickel-Acquires-Option-Properties-final.pdf  

 

   iii     https://canadanickel.com/wp-content/uploads/2021/10/2021-10-26-East-Zone-High-Grade-vFinal2.pdf   

 

Copyright (c) 2023 TheNewswire - All rights reserved.

 

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  Prismo Metals Inc. 
                
 

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Finlay Minerals Ltd . (TSXV: FYL,OTC:FYMNF) (OTCQB: FYMNF), the "Company", is pleased to announce that the approved budget under the Earn-In Agreements with Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport") 1 for both the PIL and ATTY Projects, has been increased to a total of $3.6 million .

 
 

  Finlay Minerals Ltd. logo (CNW Group/Finlay Minerals Ltd.) 

 

Both projects are situated in the highly prospective Toodoggone District of British Columbia , which continues to develop as an important copper-gold (Cu-Au) district with significant potential for further discoveries.

 

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  The 2025 programs at the PIL and ATTY are well underway with:  

 
  • Detailed property-wide, 100 metre line-spaced airborne magnetic surveys completed on both properties;

  •  
  • Detailed geological and alteration mapping and expanded rock and soil sampling on up to 8 target areas on the PIL underway, with the ATTY expected to start by the end of July;

  •  
  • 53 line-km of induced polarization ("IP") geophysical surveys planned on the PIL and 16 line-km on the ATTY, and

  •  
  • Finlay acting as the Operator on both properties.
  •  

Finlay's President and CEO, Ilona Lindsay , states :  

 

  "We are very pleased with the substantial increase in approved funding for both the PIL and the ATTY. This additional funding will allow us to identify and prioritize as many targets as possible for drilling in 2026."  

 

  References:  

 
  1. Freeport-McMoRan (FCX) is a leading international metals company focused on copper, with major operations in the Americas and Indonesia and significant reserves of copper, gold, and molybdenum.

  2.  
  3. Finlay news releases NR 03-25 dated April 17, 2025 entitled: "  Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties " and NR 05-25 dated May 2, 2025 and entitled: "  Finlay Minerals Receives TSX Venture Exchange Approval for PIL Earn-In Agreement. "
  4.  

  Qualified Person:  

 

  Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

 

  About finlay minerals ltd.  

 

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five properties in northern British Columbia :

 

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com   .  

 

  On behalf of the Board of Directors,  

 

  Robert F. Brown ,
Executive Chairman of the Board

 

  Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.  

 

   Forward-Looking Information:    This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the PIL & ATTY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.  

 

SOURCE finlay minerals ltd. 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/17/c1585.html  

 
 

 

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