Vancouver, British Columbia / June 19, 2023 – Xander Resources Inc. (“Xander” or the “Company”) (TSXV: XND) (OTCQB: XNDRF) (FSX: 1XI) is pleased to announce the results of its annual general and special meeting (the “Meeting”) held on June 16, 2023. All...
Vancouver, British Columbia / August 29, 2023 – Xander Resources Inc. (“Xander” or the “Company”) (TSXV: XND) (OTCPK: XNDRF) (FSX: 1XI) is pleased to announce it has completed the 2023 geological mapping and soil sampling program at the Company’s Senneville Project (the “Project), located in the eastern part of the Abitibi Greenstone Belt, about 25 km northeast of the gold mining centre of Val-d’Or, Quebec. The Company’s Senneville Project covers over 100 km2 and is contiguous in the South to Probe Metals’ Novador Project, host to the 2.04 Moz Monique Resource grading 1.42 g/t Au, and in the north to Monarch Mining’s Beaufor Mine, which has produced over 1.1 Moz Au.
Figure 1 – Map of the Senneville Claims. The work completed was focused in the area bordering Monarch Mining Corp’s claims which host the Mckenzie Break Project.
The work focused on the claims nearby and adjacent to the McKenzie Break project, owned and operated by Monarch Mining Corp., which has produced over 1.1 million ounces of gold and has a 2021 resource estimate with open-pit and underground indicated resources of 145,982 ounces and inferred resource of 250,593 ounces gold. In total, 34 samples were collected for assay by a two (2) person prospecting crew covering an approximately 20 km2 area, and a 651 mobile metal ion geochemical samples were collected by a six (6) person soil sampling crew at a 50 metre sample spacing on 100 metre spaced lines over a strike of 2 kilometres. These field samples, along with quality assurance samples (the Company’s QA/QC measurements included the insertion of standards, blanks, and duplicates at regular intervals in the sampling run), were submitted to AGAT Laboratories and SGS Canada Inc., respectively, for geochemical analyses.
The goal of the program was to expand on the historic exploration work as the majority of this has focused on has been focused around the Gustave Céré Showing in the Senneville South Claim Group where historical grab samples have yielded up to 49.5 g/t Au, channel samples of up to 6.5 g/t Au over 1.8 m, and drilling has identified up to 18.15 g/t Au over ~0.9 metres. This showing has been defined by drilling for ~361 m along strike but other areas of the Project have not been systematically explored for gold as the focus of historical work was largely on the properties’ VMS potential.
The Project is underlain primarily by the Garden Island sediments in the south and in the north by the Lanaudiere Group of basalts, mafic volcaniclastics, and narrow units of komatiite and ultramafic to gabbroic sills. All of these units’ trend west-northwest and their contacts are usually dextral or reverse dextral faults with steep northerly dips. Gold-bearing zones in the area are associated with shear zones, faults, tension fractures and tectonic breccias and generally associated with syn-volcanic intrusions.
The data will be integrated with the historic geological mapping results and compiled data from previous exploration to assist in 3D geological modelling and the delineation of potential drill targets.
Deepak Varshney, Company CEO comments: “We are excited to continue to advance the Senneville Property. The detailed geological mapping further develops our understanding of the gold‑bearing zones. We look forward to utilizing this data to assist in identifying drill targets for our next drill campaign.”
Fenelon Project Update
The Company further announces that it has elected to drop the claims comprising the Blue Ribbon Property in the Fenelon Gold Camp. The claims were allowed to expire and not renewed following a comprehensive review of the project’s potential, upside exploration expansion potential and alignment with the company’s strategic objectives. Moving forward, the company will prioritize its efforts on the Senneville Gold Project and the Timmins Nickel Project.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Xander Resources Inc.
Xander Resources Inc. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada focused on developing accretive gold and battery metal properties within Canada. The company currently has a focus on projects located within the Provinces of Ontario and Quebec.
Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val-d’Or, Quebec, including the Senneville Claim Group which comprises over 100 sq. km and is contiguous in the south to Probe Metals’ new discovery, and contiguous in the north to Monarch Mining, in close proximity to Eldorado Gold’s (formerly QMX Gold) projects, and east of the North American Lithium Deposit, Great Thunder Gold‘s Chubb Lithium property and East of the Sayona Quebec’s Authier Lithium Deposit, all in the Val-d’Or Mining Camp, plus its newly acquired nickel-sulphide project in Timmins, Ontario near Canada Nickel’s MacDiarmid and Crawford Projects.
We seek Safe Harbor
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information, please email [email protected], or visit www.xanderresources.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:This news release may include “forward-looking information” under applicable Canadian securities legislation. Such forward-looking information reflects management’s current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.