Vancouver, British Columbia--(Newsfile Corp. - June 12, 2020) - The Senneville property is located in the eastern part of the Abitibi Greenstone Belt, about 30 km north of the gold mining centre of Val-d'Or. It is comprised of 62 claims which extend from just east of Highway 397, where it adjoins the Senneville West and South Groups of claims, to the contact area of the Pascalis Batholith.
The extreme southwest corner of the Senneville East ground is underlain by the Garden Island sediments which are primarily wackes, siltstones, and conglomerates. To the south, these are in contact with the narrow eastern end of an east trending salient off of the La Corne Batholith. To the north, these sediments are in contact with the Lanaudiere Group which is predominantly basalt and mafic volcaniclastics, within which are narrow units of komatiite, and ultramafic and gabbroic sills. All of these units trend west-northwest and their contacts are usually dextral or reverse dextral faults, with steep dips to the north. Intruded into all of these units are northeast trending Proterozoic Diabase dykes.
The most easterly claims of the Senneville East group overlie the contact between the Lanaudiere Formation Volcanics and the Pascalis Batholith. The eastern border of this intrusive is the site of many significant gold showings. Apart from the Mackenzie Break deposit, the western side of the intrusive has, to date, not revealed a similar abundance. However, in the government document PRO-91-18, Moorehead J., 1991 p. 4, the first recommendation by the author is that the western boundary of the Batholith contact should be explored between the Mackenzie Break deposit southeast toward Lac Dondin. The Senneville East property covers about 7 km of this contact.
In 2012, the most recent drilling program by the previous claim holder focussed on defining the south eastward extension of the Cere gold showing onto the present Senneville East Group. Both the showing and the drill holes are now within the Senneville Groups of claims. Two of three drill holes reported values of 9.79 g/t/1m and 11.03 g/t/1m. These intersections remain to be followed up to the southeast.
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Historic anomalous base metal values from drilling and surface sampling are sufficiently encouraging to warrant the drilling of untested geophysical anomalies. Additionally, these values may be the expression of deep mineralization which would require deep penetrating geophysical methods, such as magnetotellurics (MT),
The proximity to the Fiedmont PGE property to the north, where values from both drilling and surface sampling range from 1.5 to 6.7 g/t PGEs, requires that the gabbros and ultramafics on the property should be tested for PGEs.
In the northeast segment of the property there are a number of intriguing stripped areas thought to be from the 1980's or 1990's. No documentation for this work has been found. At this time, it is not known what the stripping was targeting.
On May 18, 2020, the Company entered into an option with a purchase letter agreement whereby the Company was granted the exclusive option to purchase 100% interest in the 62 mineral claims (the "Val-d'Or Senneville East Property") located in Val- d'Or, Quebec. Pursuant to the Letter Agreement and subject to the approval of the TSX Venture Exchange (the "Exchange"), the Company will grant a 2% net smelter royalty and the Company will remunerate as follows:
- 450,000 common shares (the "Shares") of the Company on or before the closing date (the "Closing Date"), anticipated to be July 15th, 2020;
ii. $5,400.00 cash payable on or before the Closing,
iii. $4,000.00 cash payable within 90 days of Closing,
iv. 410,000 fully paid and non-assessable common shares issued on or before the date
that is one and a half years after the Closing;
v. $12,000.00 cash payable on or before the date that is one and a half years
after the Closing;
vi. 230,000 fully paid and non-assessable common shares issued on or before the date
that is two and a half years after the Closing;
vii. $24,000.00 cash payable on or before the date that is two and a half years
after the Closing;
Xander Resources CEO, Rodney Ireland, states that, "Adding to our Val d'Or presence gives XND a large strategic position now with three contiguous claim Blocks with over 20,000 acres and numerous targets to explore. Gold showings and exploring along the intrusive/volcanic contact south of the Mckenzie Break deposit will be priorities this Summer. We are excited to have so many targets identified already and to be contiguous to Probe metals recent discovery (Probe Metals Feb. 19, 2020) and to the North, Monarch Gold's Mckenzie Break, Swanson And Beacon Properties."
Terrence Coyle, P.Geo. (OGQ #2079), 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.
The QP has not completed sufficient work to verify the historic information on the Properties, particularly in regards to historical exploration, neighbouring companies, and government geological work. The information provides an indication of the exploration potential of the Xander property, but may not be representative of expected results.
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