Xander Resources awaits Timmins magnetic survey results
2022-09-08 12:39 ET – News Release
Mr. Deepak Varshney reports
XANDER RESOURCES PROVIDES EXPLORATION UPDATE
Xander Resources Inc. has provided an exploration update at its Timmins nickel project located near Timmins, Ont.
The company is pleased to announce that EarthEx Geophysical Solutions Inc. has completed the UAV-borne (unmanned aerial vehicle) magnetic survey over specific targets at the northern claim block and is presently awaiting the results. A total of 145 line-kilometres at 50-metre line spacing with 500-metre tie-lines was flown as part of the UAV-borne magnetic survey.
The company is also pleased to announce that it has received the initial results of its 3-D magnetic inversion study using historical VTEM (versatile time-domain electromagnetic) data. The data confirm that there are multiple conductors present that have the potential for hosting massive sulphide nickel deposits similar to the discoveries nearby by Canada Nickel Company.
The company will work in the coming weeks to integrate the results from its UAV-born magnetic survey with the final results of the inversion study. The company remains on track to commence drilling the project beginning fall 2022 and is currently accepting bids from drill contractors. As indicated previously, a minimum of 2,500 metres is anticipated to be drilled over two months, with the drill hole list and plan to be finalized following the completion of inversion works.
Deepak Varshney, Xander chief executive officer, said: “So far in 2022 it has been a year of steady progress for Xander despite the challenges of the rapidly changing geo-economic climate and the aftermath of the COVID-19 pandemic. In late 2021 we completed an accelerated buyout of our Sennevillle properties in Quebec and acquired the Timmins nickel project. The closing of our oversubscribed private placement has put us in a position where a well-funded treasury now lets us focus on exploration and we look forward to drilling these two excellent projects in the coming months.”
Senneville gold project
The company is also pleased to announce that it has mobilized its technical team to its Senneville gold project following the completion of the 1,150-line-kilometre, fixed-wing, high-resolution aeromagnetic gradiometer and digital VLF-EM (very low-frequency electromagnetic) survey using Terraquest Ltd.’s Matrix Digital VLF-EM frequency system.
The purpose of the visit will be to complete a ground examination of high-importance areas and to assist in planning for a drill program planned to commence in early 2023.
Qualified person
The technical content of this news release has been reviewed and approved by Andrew Tims, PGeo, a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Xander Resources Inc.
Xander Resources is a Canadian mineral acquisition and exploration company based in Vancouver, B.C., 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, Que., including the Senneville claim group, which comprises over 100 square 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 Sayona Quebec’s Authier lithium deposit, all in the Val d’Or mining camp, plus its newly acquired nickel-sulphide project in Timmins, Ont., near Canada Nickel’s MacDiarmid and Crawford projects.
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