(TheNewswire)
Vancouver, British Columbia – TheNewswire - September 8, 2022 – Xander Resources Inc.(“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to provide an exploration update atits Timmins Nickel Project located near Timmins, Ontario.
The Company is pleased to announce that EarthEx Geophysical Solutions Inc. has completed theUAV?borne magnetic survey over specific targets at the northernclaim block and is presently awaiting the results. A total of 145line-kilometres at 50 metre line-spacing with 500 metre tie-lines wasflown as part of the UAV?borne magnetic survey.
The Company is also pleased to announce that it hasreceived the initial results of its 3D Magnetic Inversion Study usinghistorical VTEM data. The data confirms that there are multipleconductors present that have the potential for hosting massive sulfidenickel deposits similar to the discoveries nearby by Canada NickelCompany.
Figure 1 - Inversion ofelectromagnetic data as a Voxel Overlain with coloured elevation
The Company will work in the coming weeks to integratethe results from its UAV-born magnetic survey with the final resultsof the Inversion Study. The Company remains on track to commencedrilling the project beginning Fall 2022 and is currently acceptingbids from drill contractors. As indicated previously, a minimum of2,500 metres is anticipated to be drilled over two (2) months, withthe drill hole list and plan to be finalized following the completionof inversion works.
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.”
Senneville Gold Project
The Company is also pleased to announce that it hasmobilized its technical team to its Senneville Gold Project followingthe completion of the 1,150 line-kilometre, fixed-wing,high-resolution aeromagnetic gradiometer anddigital VLF-EM survey using Terraquest Ltd.'s Matrix Digital VLF-EMfrequency system.
The purpose of the visit will be to complete a groundexamination of high-importance areas and to assist in planning for adrill program planned to commence in early 2023.
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 mined profitably.Furthermore, the Company currently has no reserves on any of itsproperties. 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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