(TheNewswire)
Xander Resources Inc . - TheNewswire - July 14, 2021 - Xander ResourcesInc . ( TSXV:XND ) (FSE:1XI ) ( OTC:XNDRF ) (" Xander " or the " Company ") ispleased to announce the results from the first 3 drill holes completedon the Senneville SouthProperty . The three holesdrilled confirmed that the gold mineralization extended over 361meters along strike in favorable host structures that are historicallyknown to host gold mineralization in Val-d’Or. Brecciationconsistent with epithermal gold and sulfide mineralization wereobserved in the drill core. Additional drilling is now planned in Fall2021 based on the outcome of this initial program.
HIGHLIGHTS
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- Hole XR-21-01A 18.15 gpt Au over 0.85 meters at a depth of 115 m. Drill holeXR-21-01A "twinned" the 2012 hole SV-12-01 carried out bythe Groupe Conseil Geologica which returned a value of 9.7 gpt Au on 1m in hole SV-12-01.
- Hole XR-21-02A 0.094gpt Au over 1 m , 0.108gpt Au over 1 m , and 0.154 gpt Auover 1 m .
- Hole XR-21-03A 0.394 gpt Au over 1.05 m, and 0.202 gpt Au over 1m, respectively at thedepths of 143 and 244 m.
Xander’s Senneville ClaimGroup comprise of over 90 sq km and iscontiguous in the South to Probe Metals’ new discovery, and contiguousin the North to MonarchMining and in close proximity to Eldorado Gold’s (formerly QMX Gold ) projectsin the Val-d’Or GoldCamp . The Senneville ClaimGroup is located in the eastern part of the Abitibi Greenstone Belt , about 25 km northeast of the gold mining center ofVal-d’Or, Quebec. The claims extend from the Lacorne Batholith inthe west to the contact area of the Pascalis Batholith in the east andare contiguous to ProbeMetals’ new discovery . (Probe Metal pressrelease Oct. 28, 2020).
Drill hole XR-21-01A "twinned"the 2012 hole SV-12-01 carried out by the Groupe Conseil Geologicawhich returned a value of 9.7 gpt Au over 1 m in hole SV-12-01. The unit containing thisstructure is represented by a basalt brecciated zones containingseveral veins and veinlets of quartz-carbonate sometimes withchlorite. The presence of stockwork and stringer of pyrite, pyrrhotiteand magnetite with sometimes traces of chalcopyrite has also beenobserved. An altered zone returned a value of 18.15 gpt Au over 0.85 m ata depth of 115 m . Thisvalue is found at the lower contact of a siliceous breach stronglyaltered in carbonate and biotite and contains traces of pyrite andpyrrhotite.
Drill hole XR-21-02A was located 160meters SE of the previous drilling. The objective of drill holeXR-21-02A was to extend the mineralized zone between holes SV-12-01and the hole SV-12-03, located 357 meters to the SE. Several veins andveinlets of quartz-carbonate-chlorite were intersected and are in thesame lithologic unit as XR-21-01A. The mineralization is composed ofpyrrhotite, pyrite and magnetite while the weathering consists ofcarbonate and chlorite with locally biotite, sericite and ironcarbonate on the walls of the quartz veins. The best values obtainedwere 0.094 gpt Au over 1 m, 0.108 gpt Au over 1 m, and 0.154 gpt Auover 1 m. The best silvergrades were 0.3 gpt Ag over 1 m . The best copper value is 303 ppm , zinc contents were in the order of 1160 and 1050 ppm.
Drill hole XR-21-03A “twinned” holeSV-12-03 located 197 meters SE of hole XR-21-02A. The objective ofdrill hole XR-21-03A wasto intersect the structure which previously returned a value of 11.03gpt Au over 1 m in holeSV-12-03. The unit containing this structure is represented by abasalt magnetic with a massive to cushioned texture, sometimesvesicular and locally brecciated with numerous veins and veinlets ofquartz-carbonate. The presence of stockwork (quartz veinlets),Magnetite in millimeter grains and stringer of pyrite, pyrrhotite was also found. The bestvalues obtained were 0.394 gpt Au over 1.05 m, and 0.202 gpt Au over 1m, respectively at thedepths of 143 and 244 m. The values intercepted in the boreholeXR-21-03A projected on the trace of hole SV-12-03 do not correspond interms of depth to the high grade obtained in hole SV-12-03. Thishighlights that the many veins and Quartz-carbonate veins areintrinsic to a metric-sized stockwork.
Conclusion andRecommendations
The lithological context of theSenneville property includes felsic rocks with volcanics mafic toultramafic with pyroclastic rocks and intermediate to felsic dykes.The holes XR-21-02A and XR-21-03A (twins from hole SV-12-03) returnedvalues less than 1 gpt Au while hole XR-21-01A (twin of SV-12-01)returned a value of 18.13 gpt Au on a thickness of 0.85 meters. Zinc(2) contents of the order of 1000 ppm in hole XR-21-02A have beencross-checked. Gold is observed in thin quartz-carbonate veins andveinlets (millimeter to centimeter) and if we examine thecharacteristics of the three soundings of a "macro" view,all of these veins form a stockwork following a breach of power metricin a mafic context in particular. The results obtained indicate thatgold is present throughout the "SV" zone. Mechanicalstripping of gold bearing structures recognized in “SV and XR”drilling is recommended and a third drilling campaign to verify thelateral continuities of these structures.
Sampling, Assaying, QA/QC and DataVerification
The samples were submitted to ALS Laboratories Ltd. (Canada) in Val-d’Or, Quebec. ALS is an ISO 9001:2015 accredited analytical laboratory.AU-AA-23 – MF-ICP41, Preparation 31A; fine crushing – 70% <2mm; Pul-31A, pulverized up to 250 gr, 85% < 15mm.
In addition to the QA/QC monitoring program performedby ALS, the Company's QA/QC measurements included the insertion ofstandards, blanks, and duplicates at regular intervals in the samplingrun.
Qualified Person
Daniel Turcotte, P.GEO. an Independent Qualified Person (“ QP ”) as such term is defined byNational Instrument 43-101 – Standards of Disclosure for Mineral Projects , has reviewedand approved the geological information reported in this news release.
James Hirst, CEO states, “Xander is very encouraged with these drillresults that confirm previous results and extend the strike length ofthe mineralization. The remaining 6 holes of this drill program,planned for the Fall 2021, are designed to further test and extend themineralization.”
About Xander Resources Inc.
Xander Resources Ltd. is a Canadian mineral acquisitionand exploration company based in Vancouver, BC, Canada. Xander isexploring for commercially exploitable mineral deposits and iscurrently focused on deposits located in Val-d’Or, Quebec, includingthe Senneville Claim Group which comprises of over 90 sq. km and is contiguous in theSouth to Probe Metals’ newdiscovery, and contiguous in the North to Monarch Mining and in closeproximity to Eldorado Gold’s(formerly QMX Gold )projects in the Val-d’Or GoldCamp .
We seek Safe Harbor.
ON BEHALF OF THE BOARD OFDIRECTORS
James Hirst, CEO
Telephone: (236) 607-5490 For moreinformation please visit our vebsite: www.xanderresources.ca
Email: info@xanderresources.ca
Investor Relations: Dan Samartino: ir@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.
Cautionary Statement
Investors are cautioned that theabove information and the information on the adjacent properties istaken from the publicly available sources. The Company has not beenable to independently verify the information contained. Theinformation is not necessarily indicative of the mineralization on theProperty, which is the subject of this news release. The Company willneed to conduct exploration to confirm historical mineralizationreported on the property and there is no guarantee that significantdiscovery will be made as a result of its exploration efforts. TheCompany is in the process of compiling exploration and geological dataavailable on the property and surrounding area to develop anexploration work plan.
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.
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.
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