(TheNewswire)
Vancouver, British Columbia – TheNewswire - July 27, 2022 – Xander Resources Inc.(“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to provide a recap of 2022 to-dateand lay out its exploration plans for the remainder of 2022 includingits maiden drill program for its Timmins Nickel Project located nearTimmins, Ontario.
HIGHLIGHTS
-
Closing of oversubscribed non-brokered privateplacement for the aggregate proceeds of $2,683,263.87
-
Completion of several exploration milestones at theTimmins Nickel Project as the Company moves towards a minimum 2,500metre drilling program
-
Completion of a fixed winggradient Mag-VLF survey that will be used to develop drilling targetsat the Senneville Gold Project
Deepak Varshney, Xander CEO, said,"So far in 2022 it has been a year of steady progress for Xanderdespite the challenges of the rapidly changing geo-economic climateand the aftermath of the COVID-19 pandemic. In late 2021 we completedan accelerated buyout of our Sennevillle properties in Quebec andacquired the Timmins Nickel Project. The closing of our oversubscribedprivate placement has put us in a position where a well fundedtreasury now lets us focus on exploration and we look forward todrilling these two excellent projects in the coming months.”
Timmins Nickel Project
The Company has completed multiple site visits,obtained permits, acquired relevant historic data from third parties,and begun a 3D Magnetic Inversion Study (the “Study”) usinghistorical VTEM data as it moves towards its upcoming drill program.
The Company has also retained EarthEx GeophysicalSolutions Inc. to fly a UAV?borne magnetic survey over specifictargets. The superior spatial precision of the UAV-acquired data willassist in diamond drill targeting by providing a higher resolutionassessment of the depth to source, dip of the body and the overallshape and size of the bodies. The UAV-assisted magnetic survey isbeing flown at 50 m line-spacing with 500 metre tie-lines. A total of145 line-km will be flown.
Drilling will be completed following integration of theUAV-survey data into a refined final inversion model. A minimum of2,500 metres is anticipated to be drilled over two (2) months, withthe finalized drill hole list and plan completed in Septemberfollowing the completion of inversion works.
Senneville Gold Project
The Company has completed a 1,150 line-kilometre,fixed-wing, high-resolution aeromagnetic gradiometer and digitalVLF-EM survey using Terraquest Ltd.'s Matrix Digital VLF-EM frequencysystem. The results of the survey will be used to map new and refineknown geological structures (faults and shear zones) that, togetherwith historical data, will be used by the Company for ground truthingand follow-up exploration with the ultimate goal of developinghigh-value targets for drilling.
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.
Copyright (c) 2022 TheNewswire - All rights reserved.