(TheNewswire)
TheNewswire - May 26, 2021 - XanderResources Inc. (TSXV:XND)(FSE:1XI) (OTC:XNDRF) (" Xander " or the " Company ") ispleased to announce that the Fenelon Blue Ribbon2020 fall channel sampling program in the Abitibi Greenstone Belt hasidentified Gold occurrences. Four trenches wereexcavated for channel sampling and 39 samples were taken for analysisin the 2020 Fall Program at the site of a historical gold showing.Fire assay results from Val-d’Or ALS Geochemistry Analytical Labsreturned values of up to 1.42g/t Au in quartz-ankerite .
The Blue RibbonProperty is in the Fenelon Gold Camp andis comprised of 48 claims including Xander’s Blue Ribbon Propertyextension of 9 claims that were added in 2020 to protect the historic gold showing reported on by J. Remick. (Remick, J.H., 1969 RP 564(A) p.20). The Blue Ribbon Property is located approximately 11 kmsouthwest of the WallbridgeMining (TSX:WM) Fenelon Mine Project and borders Probe Metals(TSX.V:PRB) , Midland Exploration (TSX.V:MD) and Great Thunder Gold (TSX.V:GTG).
The original gold showing reported on by a QuebecGovernment geologist Remick, J.H. in 1969, was found in Xander’s2020 fall ground exploration program. Additionally, several oldtrenches were found where Remick had previously noted a trench thatexposed one hundred feet (30.5 meters) zone of quartz-ankerite veins in sheared diorite. The shear zone carried small amounts of pyrite andchalcopyrite with visiblegold observed in quartz veins and no assays werereported. (Remick, J.H., 1969 RP 564(A) p. 20). In 1986 at this samelocation Quebec Government Geologist S. Lacroix, sampled a width of0.76 meters resulting in an assay of 8.5 g/t Au .(Lacroix,S. 1987 DP87-13, p.7).
The Blue Ribbon Property
The Blue Ribbon Property consists of 48 claims whichcover approximately 1,885.25 hectares (18.88 km 2 ). Access to theBlue Ribbon Property is by Road 810, Highway 109, and thereafter by aseries of logging roads. The northern portion of the Blue RibbonProperty overlies the Broullian-Fenelon Group of rocks, which iscomprised of felsic to mafic volcanics and sediments and is located inthe northernmost greenstone segment of the Abitibi Sub-Province, aregion which is underexposed and underexplored. The southern part ofthe Blue Ribbon Property overlies the northern edge of the BroullianIntrusive Complex. The intrusive/volcanic contact is coincident withthe west-northwest trending Bapst Fault. The Bapst Fault trends NW-SEthrough the Blue Ribbon Property and is characterized by brecciatedand sheared dacite, often with disseminated pyrite.
There are many gold and base metal occurrences withinthe Broullian-Fenelon Volcanics on the south side of the BroullianIntrusive Complex, including the former Selbaie Mine. Theeastward extension of the Lower Detour Deformation Zone/the GrassetDeformation Zone is located just to the north of the Blue RibbonProperty. The Bapst Fault which extends the length of the Blue RibbonProperty may be a splay or bifurcation of the Grasset/Lower DetourDeformation Zone.
Regional Potential
The combination of the major Bapst Fault, theintrusive/volcanic contact, the unexplored Broullian-Fenelonvolcanic/sedimentary package and the historic gold showing, all withinthe boundary of the Blue Ribbon Property, create significant potentialfor a new discovery, which is further evidenced by the exploration anddrilling activity noted below.
The FenelonGold Camp has sparked great explorationinterest, due to the success of the Wallbridge Mining (TSX:WM) explorationresults announced in their news releases dated December 3, 2019 andJanuary 28, 2020 which reported 22.73 g/t Au over 48.01 meters, 43.47g/t Au over 19.00 meters; on November 19, 2020 drilling resultsreported 5.07 g/t Au over 100.6 meters including 29.03 g/t Au over 7.3meters in the Tabasco-Cayenne zones; on January 20, 2021 Wallbridgeannounced 3.48 g/t Au over 54 meters; and on February 17, 2021reported visible gold at a depth of 400 to 600 meters. On October 28,2020 Probe Metals’ (TSX.V:PRB) reported 5.9 g/t Auover 9.2 meters in a new discovery 600 meters south of the formerBeliveau Mine. On January 12, 2021, Midland Exploration (TSX.V:MD) announcedintersection of a new gold zone 350 meters from the Golden Delilah onSamson, southeast of the Wallbridge Fenelon Tabasco Deposit.Intersections of 23 g/t Au over1.5 meters were reported. Drilling in2021 is also planned for the Midland/Probe (50/50) joint venture on 226claims covering the Lower Detour Gold Trend over a strike length of 35km.
On March 24, 2021, Great Thunder Gold (TSX.V:GTG) announceda 13 hole drill program targeting a conductive trend in the northernportion of their property, 6.5 km south of the Wallbridge FenelonDeposit. On November 18, 2020, Goldseek Resources (CSE:GSK) announced threetargets for their maiden drilling program along the 7.3 km strike ofthe Bapst Fault. On March 2, 2021, Goldseek announced an option to acquire from Wallbridge Mining theBeschefer Project, an advanced gold exploration property.
James Hirst, CEO states, “A great deal of credit has to be given to theexploration crew who battled terrible weather and terrain conditionslast fall while trying to re-discover the Remick trench area on theFenelon Blue Ribbon Property. Their work has resulted in confirmationof the first discovery of ground surface results in one of theworld’s richest gold belts along the Abitibi Greenstone Belt.Follow-up exploration will commence as soon as ground and weatherconditions permit.”
Daniel Turcotte, P.GEO . an Independent Qualified Person (“ QP ”) as such termis defined by National Instrument 43-101 – Standards of Disclosure for MineralProjects , has reviewed and approved thegeological information reported in this news release.
The QP has not completed sufficient work to verify thehistoric information on the Properties, particularly in regard tohistorical exploration, neighboring companies, and governmentgeological work. The information provides an indication of theexploration potential of the Xander property but may not berepresentative of expected results.
ON BEHALF OF THE BOARD OFDIRECTORS
James Hirst, Chief Executive Officer
Tel: (236) 607-5490
Email: jimh@xanderresources.ca
Website: https://xanderresources.ca/
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Copyright (c) 2021 TheNewswire - All rights reserved.