XND:CC - Xander Resources Engages Drill Contractor for Timmins Nickel Project
(TheNewswire)
Vancouver, British Columbia – TheNewswire - November 9, 2022 – Xander Resources Inc. (“Xander” or the“Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce that it hasengaged the services of Forage DCB Drilling of Rouyn-Noranda(“DCB”) to complete the near-term drill program at its TimminsNickel Project (the “ Property ”) located in Timmins, Ontario.
The drill program will commence in the coming weeks andis anticipated to comprise between 2,500 and 4,000 metres with a focuson the Company’s “North Block” of claims, in particular nearCanada Nickel Company’s (“CNC”) recently identified ReidDiscovery which has already through early exploration delineated amineralized footprint 90% as large as CNC’s Crawford Project whereCNC has completed a preliminary economic assessment only 20 monthsafter the commencement of exploration drilling that indicates 25-yearmine with an after-tax NPV 8% of $1.2 billion.
Deepak Varshney, CEO of XanderResources stated: “We are very pleased to welcome and announce DCBas our drilling partners. They are a very well-regarded and experienced company. Welook forward to working with them to complete our maiden drillprogram.”
The Timmins Nickel Project
The Timmins Nickel Project consists of two (2) separatemineral claim blocks (as shown in Figure 1 below) and is locatedwithin the Timmins mining camp in Ontario, Canada, a highly prolificmining complex with over 100 hundred years of history and wellsupported by major infrastructure including highways, rail, andrelatively inexpensive hydroelectric power.
The “North Block” consists of 236 claims locatedapproximately 21 kilometres west of Canada Nickel Company’s(CNC’s) Crawford Project where CNC has completed a preliminaryeconomic assessment only 20 months after the commencement ofexploration drilling that indicates 25-year mine with an after-taxNPV 8% of $1.2billion i . It isalso situated southwest of Kingsmill, Mahaffy-Aubin, and NesbittNorth, properties acquired from Noble Mineral Exploration by CanadaNickel through option agreements earlier in 2021 ii and adjacent toCNC’s recently identified Reid Discovery which has already throughearly exploration delineated a mineralized footprint 90% as large asCrawford.
The “South Block” consists of 50 claims contiguousto Canada Nickel’s MacDiarmid Project where in May 2021, CanadaNickel announced a secondary discovery through the identification ofsignificant intersections of mineralized dunite similar to the averagemineralization initially discovered at Crawford.Geophysical surveys reveal that the MacDiarmidtarget to be approximately 1.8 kilometres long indicating a structuralfootprint averaging 400 meters in width – 15% larger than CanadaNickel’s original Crawford’s Main Zone discovery iii .
Figure 1 - Location of Xander's Claimsin the Timmins Camp
Qualified Person
The technical content of this news release has beenreviewed and approved by Mr. Andrew Tims, P.Geo., a qualified personas defined by National Instrument 43-101 Standards of Disclosure for MineralProjects (“ NI 43-101 ”).
About Xander Resources Inc.
Xander Resources Inc. is a Canadian mineral acquisitionand exploration company based in Vancouver, BC, Canada focused ondeveloping accretive gold and battery metal properties within Canada.The company currently has a focus on projects located within theProvinces of Ontario and Quebec.
Xander is exploring for commercially exploitablemineral deposits and is currently focused on deposits located inVal-d’Or, Quebec, including the Senneville Claim Group whichcomprises over 100 sq. km and is contiguous in the south to ProbeMetals’ new discovery, and contiguous in the north to MonarchMining, in close proximity to Eldorado Gold’s (formerly QMX Gold)projects, and east of the North American Lithium Deposit, GreatThunder Gold‘s Chubb Lithium property and East of the SayonaQuebec's Authier Lithium Deposit, all in the Val-d’Or Mining Camp,plus its newly acquired nickel-sulphide project in Timmins, Ontarionear Canada Nickel’s MacDiarmid and Crawford Projects.
We seek Safe Harbor
ON BEHALF OF THE BOARD OFDIRECTORS
Deepak Varshney, P.Geo., Presidentand CEO
For more information, please email ir@xanderresources.ca , or visit www.xanderresources.ca .
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
Forward-looking statements:
This news release may include"forward-looking information" under applicable Canadiansecurities legislation. Such forward-looking information reflectsmanagement's current beliefs and are based on a number of estimatesand/or assumptions made by and information currently available to theCompany that, while considered reasonable, are subject to known andunknown risks, uncertainties, and other factors that may cause theactual results and future events to differ materially from thoseexpressed or implied by such forward-looking information. Readers arecautioned that such forward-looking information are neither promisesnor guarantees and are subject to known and unknown risks anduncertainties including, but not limited to, general business,economic, competitive, political and social uncertainties, uncertainand volatile equity and capital markets, lack of available capital,actual results of exploration activities, environmental risks, futureprices of base and other metals, operating risks, accidents, labourissues, delays in obtaining governmental approvals and permits, andother risks in the mining industry.
The Company is presently anexploration stage company. Exploration is highly speculative innature, involves many risks, requires substantial expenditures, andmay not result in the discovery of mineral deposits that can be minedprofitably. Furthermore, the Company currently has no reserves on anyof its properties. As a result, there can be no assurance that suchforward-looking statements will prove to be accurate, and actualresults and future events could differ materially from thoseanticipated in such statements.
i Preliminary Economic Assessment, titled "CrawfordNickel-Sulphide Project National Instrument 43-101 Technical Reportand 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
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