(TheNewswire)
Vancouver, British Columbia- TheNewswire - December 9, 2021 - Xander Resources Inc.(“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to provide a corporate update and layout its exploration plans for 2022 including its maiden drill programfor 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 thechallenges of the COVID-19 pandemic. We successfully completed ourmaiden drill program at our Senneville Gold Project, acquired theTimmins Nickel Project, and have seen significant changes inmanagement. We have been very active on the ground at all ourprojects, collecting extensive data through drilling, sampling,prospecting, and geophysical surveys. We are excited to head into 2022with drill programs planned at 2 properties and look forward to anaggressive exploration program in the coming year.”
2021 Recap
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Acquired a further 20 claims to add to its SennevilleGold Project adjacent to Monarch Mining’s McKenzie Break propertyand 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/ ).
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Began exploration to assess for lithium potential onthe western portion of its Sennevile Gold Project in close proximityto the North American Lithium Deposit, Great Thunder Gold Lithiumproperty, and Sayona Quebec Authier Lithium Deposit (see PR dated May6, 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 forthe Company to build on in 2022.
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Completed an initial channel sampling program at itsFenelon Blue Ribbon Property, excavating four (4) trenches returningup 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 thecamp with visible gold at the surface and is within close proximity toWallbridge Mining’s Fenelon Mine Project where the currentexploration program is budgeted for $112 million and an indicatedmineral estimate of 2,670,600 oz gold was recently announced (see PRdated November 9, 2021 - https://wallbridgemining.com/news/wallbridge-announces-mineral-resource-estimate-for-fenelon-and-martiniere-deposits-on-detour-fenelon-gold-trend/ )
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Completed a maiden 980-metre drill program over 3 holestargeting high-grade gold at its Senneville Gold Project, identifyinga structure that extends at least 361 metres along strike with aninterval 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/ ).
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Accelerated the buyout of the options at its SennevilleGold Project, enabling the Company to better allocate its explorationexpenditures and ensure more efficient utilization of financial andother resources to thoroughly and systematically explore for gold andlithium (see PR October 27, 2021 - https://xanderresources.ca/news/xander-resources-announces-accelerated-buyout-of-senneville-properties/ ).
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Acquired the Timmins Nickel Project, which consists of236 claims west of Canada Nickel Company’s (CNC) Crawford Project,where CNC has already completed a preliminary economic assessment only20 months after the commencement of exploration drilling thatindicates a 25-year mine with an after-tax NPV 8% of $1.2 billion, and 50 claimsadjacent to CNC’s MacDiarmid Project, whereCNC has identified a target 15% larger than the original Crawford’sMain 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 immediatelycommenced with fieldwork and has already completed an initialreconnaissance visit for its maiden drilling program in 2022 (see PRdated Dec 7, 2021 - https://xanderresources.ca/news/xander-resources-completes-reconnaissance-program-at-timmins-nickel-project/ ).
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Staked and sold 39 claims adjacent to its SennevilleGold Project. The claims were acquired for approximately $2,400 andsold for aggregate consideration of $100,000 in common shares to QLMinerals, an exciting new battery metals company that intends to gopublic on a Canadian securities exchange in 2022 (see PR datedDecember 1, 2021 - https://xanderresources.ca/news/xander-resources-announces-appointment-of-adrian-smith-as-a-director-and-sale-of-senneville-claims/ ).
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Strengthened its management team by adding threeprofessional 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 companyexperience as they presently are also CEOs of Usha Resources Ltd.(USHA.V), ArcPacific Resources Ltd. (ACP.V), and Ares Strategic MiningInc. (ARES.CN).
The Company’s new QP, Andrew Tims, provides theCompany with significant technical expertise, as he was the seniorexploration geologist at Rainy River Resources that developed theRainy River resource from 550,000 ounces of gold in 2005 to over sixmillion when it was acquired by New Gold in 2013.
2022 Exploration Plans
Timmins Nickel Project
The Company is budgeting 1.5 million dollars forexploration at its Timmins Nickel Project in 2022. Exploration workwill include:
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Completing further geophysical surveys and 3D inversionmodelling to refine the existing targets.
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Completing a 10-hole, 2,500-metre core drilling programat its North Claim block.
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Completing a 3-hole, 1,200-metre core drilling programat its South Claim block.
Senneville Gold Project
The Company is budgeting $500,000 for exploration atits Senneville Project in 2022. Exploration work will include:
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Completing geophysical surveys and 3D inversionmodelling to develop drill targets on the eastern half of the propertywith a particular focus in the area adjacent to Monarch Mining andMackenzie-break style targets.
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Completing a 1,000-metre core drilling programfollowing the development of targets.
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Completing additional surveying, prospecting, andsampling to explore the lithium geology on the western portion of itsclaims.
Fenelon Gold Project
The recent promising results from the Fenelon GoldCamp, particularly Wallbridge Mining’s announcement of its maidenmineral 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 aplan for Winter 2022 when the property is more accessible. Explorationwill be focused around a showing discovered by Government geologist Jérome Remick in 1969 where a goldvalue of 8.5 g/t Au over 0.76 meters was reported. Two (2) drill padshave been prepared at the Site for future drilling. The Company willannounce a detailed plan in 2022 upon completion of the design.
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 phone Dan Sammartino,Investor Relations, at 778-962-0234, 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, labour issues, delays inobtaining governmental approvals and permits, and other risks in themining 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.
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