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Drilling identifies a potential mineralized 161 metre zone with nickel values up to 0.19 % Ni in Drill Hole NKV23-05 within 202 metres of ultramafic located within the Company’s claim block adjacent to Canada Nickel Company’s Macdiarmid Discovery
Highlights:
Maiden eleven-hole drill program has been completed.
Eight drill holes, NKV22-01 to 06 and NKV23‑01 to 03, were advanced within the “North Block” of claims, located adjacent to Canada Nickel Company’s (CNC) Reid Discovery and to the west on trend with CNC’s Crawford Discovery. NKV22-03, located to the west of CNC’s Reid Discovery, returned 11.5 metres of 0.15% Ni from a depth of 244 to 255.5 metres.
Three, drill holes NKV23-04 to 06, were advanced within the “South Block” of claims, located adjacent to CNC’s Macdiarmid Discovery. NKV23-04 and NKV23-05 returned significant intersections that are comparable to those of Canada Nickel Company’s (CNC) adjacent Macdiarmid Discovery within footprints of conductors that are comparable in size. NKV23-04 and NKV23-05 are located 750 metres apart.
A potential 43.5-metre mineralized zone was identified in NKV23-04 through sporadic sampling from 187.5 to 231 metres. Intervals of 0.14% over 3 metres, 0.21% over 2.7 metres, and 0.19% over 4.5 metres were identified within at least 77 metres of ultramafic (gabbro/peridotite) beginning at 178 metres. Infill sampling is required to determine the exact grade of this interval but visually the mineralization appears consistent with grades ranging from 0.14% - 0.22% in the 7 samples taken. The interval identified is open at depth, as this hole terminated in an ultramafic unit, and appears to extend on to CNC’s recently purchased claims to the south based on the proximity of the drill hole to the claim boundary.
A potential 161-metre mineralized zone was identified in NKV23-05 through sporadic sampling from 67 to 229 metres. Multiple intervals of 0.18% over 3 metres and an interval of 0.14% over 30 metres were identified within at least 202 metres of ultramafic (gabbro/peridotite) beginning at 50.4 metres. Infill sampling is required to determine the exact grade of this interval but visually the mineralization appears consistent with grades ranging from 0.09% - 0.19% in the 48 samples taken. The interval identified is open at depth, as this hole terminated in ultramafic.
The drill results are headlined by a potential 161-metre mineralized zone with 30 metres grading 0.14% Ni and multiple intervals of 0.18% over 3 metres in drill hole NKV23-05 from 177 to 204 metres within a 202-metre ultramafic unit beginning at 50.4 metres, and a potential 43.5 metre mineralized zone with intervals of 0.14% over 3 metres, 0.21% over 2.7 metres, and 0.19% over 4.5 metres in NKV23-04 within an at least 77-metre ultramafic (gabbro/peridotite) beginning at 178 metres. Mineralization in both holes appears to extend over the entire interval and is open at depth. Further sampling will be completed confirm the mineralized length within each drill hole.
Both drill holes were located within drill targets at the Company’s “South Block” of claims that are located adjacent to Canada Nickel Company’s (CNC) Macdiarmid Discovery (as shown in Figure 1 below) where in
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Figure 1 - Location of Xander's Claims in the Timmins Camp.
Drilling Summary
In total, 3,730 metres were drilled across the two phases of the maiden drill program. The program was designed to test targets with potential for significant nickel mineralization comparable to Canada Nickel Company’s Crawford,
NKV22-05, located to the west of CNC’s Reid Discovery, returned 11.5 metres of 0.15% Ni from a depth of 244 to 255.5 metres.
NKV23-04, located to the east of CNC’s Macdiarmid Discovery, returned intervals of 0.14% over 3 metres, 0.21% over 2.7 metres, and 0.19% over 4.5 metres within at least 77 metres of ultramafic (gabbro/peridotite) beginning at 178 metres. Infill sampling is required to determinethe exact grade, but visually the mineralization appears consistent with grades ranging from 0.14% - 0.22% in the 7 samples taken suggesting that a potential 43.5-metre mineralized zone is present.
NKV23-05, located to the east of CNC’s Macdiarmid Discovery, returned multiple intervals of 0.18% over 3 metres and an interval of 0.14% over 30 metres within at least 202 metres of ultramafic (gabbro/peridotite) beginning at 50.4 metres. Infill sampling is required to determine the exact grade of this interval, but visually the mineralization appears consistent with grades ranging from 0.09% - 0.19% in the 48 samples taken suggesting that a potential 161-metre mineralized zone is present.
NKV22-01 to 04 and 06 and NKV23-06 did not return notable intercepts; these targets were identified based on electromagnetic and magnetic anomalies that largely occurred due to the presence of graphite.
Both NKV23-04 and NKV23-05 terminated in ultramafics indicating they are open at depth. Based on the drilling observed, the Company believes that the ultramafic unit present in NKV23-04 extends on to CNC’s recently purchased claims to the south based on the proximity of the drill hole to the claim boundary.
Based on the findings of its maiden program, the Company intends on completing a follow-up program that builds on its success at NKV23-04 and NKV23-05 while utilizing the information obtained from the other drill holes to also explore the numerous untested targets present across its approximately 72 km2of claims, particularly those on its most recent acquisition, the “West Claim” block, where it has already outlined 6 targets immediately ready for drill-testing.
Composite weighted assays are included in the table below.
Hole ID | From (m) | To (m) | Interval (m) | Logged Rock Type | Ni (%) |
NKV22-03 | 244 | 255.5 | 11.5 | Peridotite | 0.135 |
NKV23-04* | 187.5 | 190.5 | 3 | Peridotite | 0.144 |
NKV23-04* | 205.5 | 208.2 | 2.7 | Peridotite | 0.213 |
NKV23-04* | 226.5 | 231.0 | 4.5 | Peridotite | 0.186 |
NKV23-05** | 67.0 | 70.0 | 3 | Peridotite | 0.185 |
NKV23-05** | 87.0 | 90.0 | 3 | Peridotite | 0.167 |
NKV23-05** | 105.0 | 108.0 | 3 | Peridotite | 0.158 |
NKV23-05** | 125.0 | 128.0 | 3 | Peridotite | 0.155 |
NKV23-05** | 147.0 | 150.0 | 3 | Peridotite | 0.177 |
NKV23-05** | 159.0 | 162.0 | 3 | Peridotite | 0.176 |
NKV23-05** | 177.0 | 207 | 30 | Peridotite | 0.137 |
NKV23-05** | 223 | 229 | 6 | Peridotite | 0.136 |
*Note 1 – The intervals presented were the only samples/assays taken between 187.5 – 252 metres, additional assays are required to determine the width and grade of the entire mineralized zone.
** Note 2 – The intervals presented were the only samples/assays taken in the entire hole, additional assays are required to determine the width and grade of the entire mineralized zone.
The field program was run by
Drill Hole Coordinates:
DDH_No | UTMnad83_East | UTMnad83_North | Azimuth | Dip | Length |
NKV22-01 | 452951 | 5402673 | 225 | -50 | 549 |
NKV22-02 | 454453 | 5403755 | 40 | -50 | 426 |
NKV22-03 | 454800 | 5404125 | 206 | -50 | 423 |
NKV22-04 | 454802 | 5404126 | 37 | -50 | 348 |
NKV22-05 | 453190 | 5403950 | 196 | -63 | 425 |
NKV23-01 | 450869 | 5408327 | 200.1 | 50.1 | 255 |
NKV23-02 | 451772 | 5409240 | 359.9 | -50 | 264 |
NKV23-03 | 451010 | 5409255 | 359.8 | -50 | 273 |
NKV23-04 | 461452 | 5390373 | 180 | -50 | 255 |
NKV23-05 | 461550 | 5391120 | 20.1 | -50 | 252 |
NKV23-06 | 462385 | 5392737 | 194 | -50 | 259.5 |
Click Image To View Full Size
Figure1 - Location of drill holes comprising Xander’s maiden drill program.
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
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 https://canadanickel.com/wp-content/uploads/2021/10/2021-10-26-East-Zone-High-Grade-vFinal2.pdf
ii Preliminary Economic Assessment, titled "Crawford Nickel-Sulphide Project National Instrument 43-101 Technical Report and Preliminary Economic Assessment", Effective Date of
iii https://canadanickel.com/wp-content/uploads/2021/04/20210422-Canada-Nickel-Acquires-Option-Properties-final.pdf
iv https://canadanickel.com/wp-content/uploads/2021/10/2021-10-26-East-Zone-High-Grade-vFinal2.pdf
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