Xander Resources Completes Second Phase of Drilling Program for Timmins Nickel Project
Xander Resources Completes Second Phase of Drilling Program for Timmins
Nickel Project
Vancouver, British Columbia / March 20, 2023 – Xander Resources Inc. (“Xander” or the
“Company”) (TSXV: XND) (OTCQB: XNDRF) (FSX: 1XI) is pleased to announce that it has completed
the second phase of its fully financed drill program at its Timmins Nickel Project (the “Property”) located
in Timmins, Ontario.
The drill program comprised 1,559 metres across six (6) drill h oles and continued 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) holes, NKV23-1, NKV23-2, and NKV23-3, targeted the northern part of the Company’s
“North Block” on 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’s Crawford Project where a preliminary economic ass essment 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) holes, NKV23-4, NKV23-5, and NKV23-6, were drilled 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 approximate ly 15% larger than Canada
Nickel’s original Crawford’s Main Zone discovery (https://bit.ly/3RVjMfI).
Ultramafics comprising komatiitic flows, gabbro and/or peridoti te were intersected in five (5) of
the six (6) drill holes. Notable intercepts include:
Drill Hole Rock Type Interval Le ngth (metres Interval Range (me tres)
NKV23-02 Komatiite 42.1 189.1 – 231.5
Komatiite 18.8 240.0 – 258.8
NKV23-03 Komatiite 87.0 186.0 – 273.0
NKV23-04 Komatiite 54.5 54.0 – 108.5
Komatiite 38.4 111.5 – 149.9
Peridotite/Gabbro 76.8 178.2 – 255.0
NKV23-05 Peridotite/Gabbro 201.6 50.4 – 252.0
NKV23-06 Komatiite 22.0 214.7 – 236.7
Peridotite 22.8 236.7 – 259.5
The assay results from the second phase drill program will be released following their receipt, compilation
and interpretation.
Figure 1 ‐ Location of drill holes comprising the second phase of Xander’s maiden drill program.
The Timmins Nickel Project
The Timmins Nickel Project consists of two (2) separate mineral claim blocks (as shown in Figure 2 below)
and is located within the Timmins mining camp in Ontario, Canada, a highly prolific mining complex with
over 100 hundred years of history and well supported by major infrastructure including highways, rail, and
relatively inexpensive hydroelectric power.
The “North Block” consists of 336 claims located approximately 21 kilometres west of Canada Nickel
Company’s (CNC’s) Crawford Project where CNC has completed a preliminary economic assessment only
20 months after the commencemen t of exploration drilling that i ndicates 25-year mine with an after-tax
NPV8% of $1.2 billion i. It is also situated southwest of Kingsmill, Mahaffy-Aubin, an d Nesbitt North,
properties acquired from Noble Mi neral Exploration by Canada Ni ckel through option agreements earlier
in 2021 ii and adjacent to CNC’s recently identified Reid Discovery which has already through early
exploration delineated a mineralized footprint 90% as large as Crawford.
The “South Block” consists of 50 claims contiguous to Canada Nickel’s MacDiarmid Project where in May
2021, Canada Nickel announced a secondary discovery through the identification of significant
intersections of mineralized dunite similar to the average mine ralization initially discovered at Crawford.
Geophysical surveys reveal that the MacDiarmid target to be approximately 1.8 kilometres long indicating
a structural footprint averaging 400 meters in width – 15% larger than Canada Nickel’s original Crawford’s
Main Zone discoveryiii.
Figure 2 ‐ Location of Xander's Claims in the Timmins Camp
Qualified Person
The technical content of this ne ws release has been reviewed an d 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 exp loration company based in Vancouver,
BC, Canada focused on developing accretive gold and battery met al 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 deposi ts 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) proje cts, 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 newl y 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 in formation" under applicable Canadian securities
legislation. Such forward-looking information re flects 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. Read ers are cautioned that such forwar d-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 availabl e 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 expenditu res, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermo re, 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 fu ture 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 May 21, 2021
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