Xander Resources Inc. (TSXV: XND) has entered into an option agreement to acquire 100% interest in certain 100 mineral claims located in Timmins, Ontario.
The property consists of 100 separate mineral claim blocks comprising over 21 square kilometres that are located contiguous to the west of the company’s existing Timmins North claims. Historical work at the property includes airborne geophysical survey work (Geotech’s helicopter-borne VTEM (versatile time domain electromagnetic)) which has delineated six drill targets in line with the existing high-priority electromagnetic anomalies within the property (often indicative of sulphide mineralisation) and numerous major and minor structures.
With the acquisition of these claims, the company’s Timmins North Block now consists of 336 claims that are not only near Canada Nickel Company’s (CNC) Crawford Project, where CNC has completed a preliminary economic assessment only 20 months after the commencement of exploration drilling that indicates 25-year mine with an after-tax NPV8% of $1.2 billion, but also adjacent and along trend with CNC’s recently identified Reid Discovery which has already through early exploration delineated a mineralised footprint 90% as large as Crawford.
The company’s plan over the coming months is to build on the geophysical work completed through further geophysical mapping and interpretation, sampling, and other techniques in order to launch a comprehensive drill programme following its upcoming near-term drill program on the prior optioned claims comprising the North Block.
“We are very pleased to have been able to add these claims to our portfolio,” CEO, Deepak Varshney, said.
“Our goal is to build a significant nickel footprint in this district and acquiring these claims, particularly in light of the recent large-scale discovery by CNC at its Reid property, will help us successfully move forward with that objective.”
For further information please visit: https://xanderresources.ca/
