Xander Resources Inc. - TheNewswire - July 14, 2021 - Xander Resources Inc. (TSXV:XND) (FSE:1XI) (OTC:XNDRF) ("Xander" or the "Company") is pleased to announce the results from the first 3 drill holes completed on the Senneville South Property. The three holes drilled confirmed that the gold mineralization extended over 361 meters along strike in favorable host structures that are historically known to host gold mineralization in Val-d’Or. Brecciation consistent with epithermal gold and sulfide mineralization were observed in the drill core. Additional drilling is now planned in Fall 2021 based on the outcome of this initial program.
HIGHLIGHTS
- Hole XR-21-01A 18.15 gpt Au over 0.85 meters at a depth of 115 m. Drill hole XR-21-01A "twinned" the 2012 hole SV-12-01 carried out by the Groupe Conseil Geologica which returned a value of 9.7 gpt Au on 1 m in hole SV-12-01.
- Hole XR-21-02A 0.094 gpt Au over 1 m, 0.108 gpt Au over 1 m, and 0.154 gpt Au over 1 m.
- Hole XR-21-03A 0.394 gpt Au over 1.05 m, and 0.202 gpt Au over 1 m, respectively at the depths of 143 and 244 m.
Xander’s Senneville Claim Group comprise of over 90 sq km and is contiguous in the South to Probe Metals’ new discovery, and contiguous in the North to Monarch Mining and in close proximity to Eldorado Gold’s (formerly QMX Gold) projects in the Val-d’Or Gold Camp. The Senneville Claim Group is located in the eastern part of the Abitibi Greenstone Belt, about 25 km northeast of the gold mining center of Val-d’Or, Quebec. The claims extend from the Lacorne Batholith in the west to the contact area of the Pascalis Batholith in the east and are contiguous to Probe Metals’ new discovery. (Probe Metal press release Oct. 28, 2020).
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Drill hole XR-21-01A "twinned" the 2012 hole SV-12-01 carried out by the Groupe Conseil Geologica which returned a value of 9.7 gpt Au over 1 m in hole SV-12-01. The unit containing this structure is represented by a basalt brecciated zones containing several veins and veinlets of quartz-carbonate sometimes with chlorite. The presence of stockwork and stringer of pyrite, pyrrhotite and magnetite with sometimes traces of chalcopyrite has also been observed. An altered zone returned a value of 18.15 gpt Au over 0.85 m at a depth of 115 m. This value is found at the lower contact of a siliceous breach strongly altered in carbonate and biotite and contains traces of pyrite and pyrrhotite.
Drill hole XR-21-02A was located 160 meters SE of the previous drilling. The objective of drill hole XR-21-02A was to extend the mineralized zone between holes SV-12-01 and the hole SV-12-03, located 357 meters to the SE. Several veins and veinlets of quartz-carbonate-chlorite were intersected and are in the same lithologic unit as XR-21-01A. The mineralization is composed of pyrrhotite, pyrite and magnetite while the weathering consists of carbonate and chlorite with locally biotite, sericite and iron carbonate on the walls of the quartz veins. The best values obtained were 0.094 gpt Au over 1 m, 0.108 gpt Au over 1 m, and 0.154 gpt Au over 1 m. The best silver grades were 0.3 gpt Ag over 1 m. The best copper value is 303 ppm, zinc contents were in the order of 1160 and 1050 ppm.
Drill hole XR-21-03A “twinned” hole SV-12-03 located 197 meters SE of hole XR-21-02A. The objective of drill hole XR-21-03A was to intersect the structure which previously returned a value of 11.03 gpt Au over 1 m in hole SV-12-03. The unit containing this structure is represented by a basalt magnetic with a massive to cushioned texture, sometimes vesicular and locally brecciated with numerous veins and veinlets of quartz-carbonate. The presence of stockwork (quartz veinlets), Magnetite in millimeter grains and stringer of pyrite, pyrrhotite was also found. The best values obtained were 0.394 gpt Au over 1.05 m, and 0.202 gpt Au over 1 m, respectively at the depths of 143 and 244 m. The values intercepted in the borehole XR-21-03A projected on the trace of hole SV-12-03 do not correspond in terms of depth to the high grade obtained in hole SV-12-03. This highlights that the many veins and Quartz-carbonate veins are intrinsic to a metric-sized stockwork.
Conclusion and Recommendations
The lithological context of the Senneville property includes felsic rocks with volcanics mafic to ultramafic with pyroclastic rocks and intermediate to felsic dykes. The holes XR-21-02A and XR-21-03A (twins from hole SV-12-03) returned values less than 1 gpt Au while hole XR-21-01A (twin of SV-12-01) returned a value of 18.13 gpt Au on a thickness of 0.85 meters. Zinc (2) contents of the order of 1000 ppm in hole XR-21-02A have been cross-checked. Gold is observed in thin quartz-carbonate veins and veinlets (millimeter to centimeter) and if we examine the characteristics of the three soundings of a "macro" view, all of these veins form a stockwork following a breach of power metric in a mafic context in particular. The results obtained indicate that gold is present throughout the "SV" zone. Mechanical stripping of gold bearing structures recognized in “SV and XR” drilling is recommended and a third drilling campaign to verify the lateral continuities of these structures.
Sampling, Assaying, QA/QC and Data Verification
The samples were submitted to ALS Laboratories Ltd. (Canada) in Val-d’Or, Quebec. ALS is an ISO 9001:2015 accredited analytical laboratory. AU-AA-23 – MF-ICP41, Preparation 31A; fine crushing – 70% < 2mm; Pul-31A, pulverized up to 250 gr, 85% < 15mm.
In addition to the QA/QC monitoring program performed by ALS, the Company's QA/QC measurements included the insertion of standards, blanks, and duplicates at regular intervals in the sampling run.
Qualified Person
Daniel Turcotte, P.GEO. an Independent Qualified Person (“QP”) as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release.
James Hirst, CEO states, “Xander is very encouraged with these drill results that confirm previous results and extend the strike length of the mineralization. The remaining 6 holes of this drill program, planned for the Fall 2021, are designed to further test and extend the mineralization.”
About Xander Resources Inc.
Xander Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada. 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 of over 90 sq. km and is contiguous in the South to Probe Metals’ new discovery, and contiguous in the North to Monarch Mining and in close proximity to Eldorado Gold’s (formerly QMX Gold) projects in the Val-d’Or Gold Camp.
We seek Safe Harbor.
ON BEHALF OF THE BOARD OF DIRECTORS
James Hirst, CEO
Telephone: (236) 607-5490 For more information please visit our vebsite: www.xanderresources.ca
Email: info@xanderresources.ca
Investor Relations: Dan Samartino: ir@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.
Cautionary Statement
Investors are cautioned that the above information and the information on the adjacent properties is taken from the publicly available sources. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization on the Property, which is the subject of this news release. The Company will need to conduct exploration to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts. The Company is in the process of compiling exploration and geological data available on the property and surrounding area to develop an exploration work plan.
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.
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.
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