(via TheNewswire)
![]() | |||||||||
![]() | ![]() |
The drill program will comprise a minimum of 1,500 metres across six (6) drill holes and will continue Xander’s strategy of targeting geophysical anomalies on its claims that are on trend and/or adjacent to properties where Canada Nickel Company (CNC) has identified significant nickel mineralization:
Three (3) drill holes, NKV23-A, NKV23-B, and NKV23-C, will be drilled in the northern part of the Company’s “North Block” of claims along trend with CNC’s Mahaffy and Nesbitt properties. Both properties have been drilled by CNC, with the first two drill holes at Nesbitt returning significant intersections of mineralization with intervals of visible disseminated sulphides consistent with the
Higher Grade Zone at CNC’sCrawford Project where a preliminary economic assessment indicates a 25-year mine with an after-tax NPV (net present value) with 8-per-cent discount rate of$1.2-billion (http://bit.ly/3YMsYFi,http://bit.ly/3E3b3CB).
Three (3) drill holes, NKV23-D, NKV23-E, and NKV23-F, will be drilled in the in the Company’s “South Block” of claims that are adjacent to CNC’s
MacDiarmid Project where CNC announced its second major discovery in the Timmins Camp with a target that is approximately 15% larger than Canada Nickel’s original Crawford’sMain Zone discovery (https://bit.ly/3RVjMfI).
Click Image To View Full Size
Figure 1 - Location of drill holes comprising the second phase of Xander's maiden drill program. Xander’s claims are shown within the bolded white boundaries.
The Company also announces that the assays from the first phase of its drill program comprising five (5) drill hole across 2,171 metres are still pending. The results of these analyses will be released following their receipt, compilation and interpretation.
Lithium Strategy Update
The Company is also pleased to report that it is actively reviewing opportunities to acquire or develop projects in the lithium industry with a specific focus on projects in
The Company is in the advanced stages of negotiations for specific projects in proximity to the prolific CV Lithium Trend and Patriot Battery Metals’ (PMET’s) Corvette lithium discovery in the
Investors are cautioned that there is no assurance that negotiations involving any potential acquisition will conclude successfully.
The “North Block” consists of 336 claims located approximately 21 kilometres west of Canada Nickel Company’s (CNC’s)
The “South Block” consists of 50 claims contiguous to Canada Nickel’s
Click Image To View Full Size
Figure 2 - Location of Xander's Claims in the Timmins Camp
Qualified Person
The technical content of this news release has been reviewed and approved by Mr.
About
Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val-d’Or,
We seek Safe Harbor
ON BEHALF OF THE BOARD OF DIRECTORS
For more information, please emailir@xanderresources.ca, or visitwww.xanderresources.ca.
Neither
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.
i Preliminary Economic Assessment, titled "Crawford Nickel-Sulphide Project National Instrument 43-101 Technical Report and Preliminary Economic Assessment", Effective Date of
ii https://canadanickel.com/wp-content/uploads/2021/04/20210422-Canada-Nickel-Acquires-Option-Properties-final.pdf
iii https://canadanickel.com/wp-content/uploads/2021/10/2021-10-26-East-Zone-High-Grade-vFinal2.pdf
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source