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Xander Resources 2022 Exploration Plan and 2021 Review

Vancouver, British Columbia – TheNewswire – December 9, 2021 – Xander Resources Inc. (“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI)…

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Vancouver, British Columbia – TheNewswire – December 9, 2021 – Xander Resources Inc. (“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to provide a corporate update and lay out its exploration plans for 2022 including its maiden drill program for its Timmins Nickel Project (the “Property”) located near Timmins, Ontario.

 

Deepak Varshney, Xander CEO, said, “2021 has been a year of steady progress for Xander despite the challenges of the COVID-19 pandemic. We successfully completed our maiden drill program at our Senneville Gold Project, acquired the Timmins Nickel Project, and have seen significant changes in management. We have been very active on the ground at all our projects, collecting extensive data through drilling, sampling, prospecting, and geophysical surveys. We are excited to head into 2022 with drill programs planned at 2 properties and look forward to an aggressive exploration program in the coming year.”

 

2021 Recap

 

 

 

 

The Blue Ribbon Property is the only property in the camp with visible gold at the surface and is within close proximity to Wallbridge Mining’s Fenelon Mine Project where the current exploration program is budgeted for $112 million and an indicated mineral estimate of 2,670,600 oz gold was recently announced (see PR dated November 9, 2021 – https://wallbridgemining.com/news/wallbridge-announces-mineral-resource-estimate-for-fenelon-and-martiniere-deposits-on-detour-fenelon-gold-trend/)

 

 

 

 

Upon executing the agreement, Xander immediately commenced with fieldwork and has already completed an initial reconnaissance visit for its maiden drilling program in 2022 (see PR dated Dec 7, 2021 – https://xanderresources.ca/news/xander-resources-completes-reconnaissance-program-at-timmins-nickel-project/).

 

 

  • Strengthened its management team by adding three professional geologists, Deepak Varshney, P.Geo., Adrian Smith, P.Geo., and Andrew Tims, P.Geo., and a mining engineer, James Walker.  

 

Deepak, Adrian and James add strong public company experience as they presently are also CEOs of Usha Resources Ltd. (USHA.V), ArcPacific Resources Ltd. (ACP.V), and Ares Strategic Mining Inc. (ARES.CN).

 

The Company’s new QP, Andrew Tims, provides the Company with significant technical expertise, as he was the senior exploration geologist at Rainy River Resources that developed the Rainy River resource from 550,000 ounces of gold in 2005 to over six million when it was acquired by New Gold in 2013.

2022 Exploration Plans

 

Timmins Nickel Project

 

The Company is budgeting 1.5 million dollars for exploration at its Timmins Nickel Project in 2022. Exploration work will include:

 

  • Completing further geophysical surveys and 3D inversion modelling to refine the existing targets.  

  • Completing a 10-hole, 2,500-metre core drilling program at its North Claim block. 

  • Completing a 3-hole, 1,200-metre core drilling program at its South Claim block. 

Senneville Gold Project

 

The Company is budgeting $500,000 for exploration at its Senneville Project in 2022. Exploration work will include:

 

  • Completing geophysical surveys and 3D inversion modelling to develop drill targets on the eastern half of the property with a particular focus in the area adjacent to Monarch Mining and Mackenzie-break style targets. 

  • Completing a 1,000-metre core drilling program following the development of targets.  

  • Completing additional surveying, prospecting, and sampling to explore the lithium geology on the western portion of its claims. 

 

Fenelon Gold Project

The recent promising results from the Fenelon Gold Camp, particularly Wallbridge Mining’s announcement of its maiden mineral reserve estimate for their Fenelon and Martiniere deposits, has prompted the Company to accelerate its Fenelon exploration plans.

 

The Company intends on in the coming months to design a plan for Winter 2022 when the property is more accessible. Exploration will be focused around a showing discovered by Government geologist Jérome Remick in 1969 where a gold value of 8.5 g/t Au over 0.76 meters was reported. Two (2) drill pads have been prepared at the Site for future drilling. The Company will announce a detailed plan in 2022 upon completion of the design.

Qualified Person

The technical content of this news release has been reviewed and 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 exploration company based in Vancouver, BC, Canada focused on developing accretive gold and battery metal 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 deposits 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) projects, 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 newly 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 phone Dan Sammartino, Investor Relations, at 778-962-0234, 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 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.

Copyright (c) 2021 TheNewswire – All rights reserved.

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Gold Springs Resource Corp. 2021 Drilling Results Highlights

VANCOUVER, BC / ACCESSWIRE / January 14, 2022 / Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) (the "Company" or "GRC"), completed in 2021 a total…

VANCOUVER, BC / ACCESSWIRE / January 14, 2022 / Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) (the “Company” or “GRC”), completed in 2021 a total of 18,076 meters of drilling in 82 holes at Gold Springs, its 8,000 ha project located in the USA, on the border of Nevada and Utah, which produced these significant results:

“Tremor” Drilling result Highlights:

  • 6.87 g/t gold equivalent over 24.4 meters, which included
    30.90 g/t gold equivalent over 4.6 meters, and
    0.59 g/t gold equivalent over 82.3 meters in hole J-21-006
    (for details on hole J-21-006, please refer to the Company’s press release dated September 7, 2021).
  • 1.42 g/t gold equivalent over 33.5 meters within the vein, which includes,
    3.26 g/t gold equivalent over 10.7 meters within the vein, and
    0.94 g/t gold equivalent over 123.5 meters within the intrusive and contact zone in hole J-21-015
    (for details on hole J-21-015, please refer to the Company’s press release dated December 3, 2021).

“North Jumbo” Drilling result Highlights:

  • 2.60 g/t gold equivalent over 3.1 meters in hole J-21-001 and
    4.46 g/t gold equivalent over 1.6 meters in hole J-21-001
    (for details on hole J-21-001, please refer to the Company’s press release dated July 5, 2021).

“South Jumbo” Drilling Result Highlights:

  • 5.47 g/t gold equivalent over 19.8 meters in hole E-21-012;
  • 1.70 g/t gold equivalent over 9.1 meters in hole E-21-004;
  • 0.56 g/t gold equivalent over 16.8 meters in hole E-21-016
    (for details on holes E-21-004 and E-21-012, please refer to the Company’s press release dated July 5, 2021;
    for details on hole E-21-016, please refer to the Company’s press release dated September 7, 2021).

“Charlie Ross” Drilling result Highlights:

  • 1.17 g/t gold equivalent over 45.7 meters, which includes,
    2.56 g/t gold equivalent over 15.2 meters in hole CR-21-005;
  • 1.26 g/t gold equivalent over 15.3 meters, which includes,
    2.24 g/t gold equivalent over 9.2 meters in hole CR-21-008
    (for details on holes CR-21-005 and CR-21-008, please refer to the Company’s press release dated October 19, 2021)

*Gold Equivalent (AuEq) based on $1,800/oz gold and $25/oz Ag

Randall Moore, Executive Vice President of Exploration, stated: “2021 has been an exciting year where we made new discoveries on several of our 33 targets, especially a significant one at “Tremor”. We are very pleased with the progress we achieved at Gold Springs this past year. Our goal for 2022 is to increase the size of our 4 existing resource areas and to identify new ones with an aggressive drill program. In parallel, we will be completing baseline studies and moving the permitting process forward to de-risk the project. In the coming weeks we hope to receive the last 22 assays from our 2021 program:

15 additional holes at “Tremor” drilled to offset the promising results in holes J-21-006 and 015, and 7 follow-up holes at “Charlie Ross”.

Qualified Person

The Qualified Person on the Gold Springs Project is Randall Moore, Executive Vice President of Exploration for Gold Springs Resource Corp., and he has reviewed and approved the content of this press release.

About Gold Springs Resource Corp.

Gold Springs Resource Corp. (TSX: GRC and OTCQB: GRCAF) is focused on the exploration and expansion of the gold and silver resources of its PEA-stage Gold Springs project located on the border of Nevada and Utah, USA. The project is situated in the prolific Great Basin of Western USA, one of the best mining jurisdictions in the world.

Gold Springs Resource Corp. Contact:

Antonio Canton, President and CEO
[email protected]

Forward Looking Statements

Certain statements contained herein constitute “forward-looking information” under applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements look into the future and address events or developments that the Company expects to occur in the future, and include statements related to the completion of baseline studies and moving the permitting process forward to de-risk the project. Forward-looking statements may include words such as “creating”, “believe”, “would”, “continue”, “will”, “promising”, “should”, and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company’s Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company’s existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company’s expectations as of the date hereof.

SOURCE: Gold Springs Resource Corp.

View source version on accesswire.com:
https://www.accesswire.com/683626/Gold-Springs-Resource-Corp-2021-Drilling-Results-Highlights

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Chesswood Group Limited Closes Strategic Acquisition of Rifco Inc. and Announces the Renewal and Repricing of its Corporate Revolving Facility

Chesswood Group Limited Closes Strategic Acquisition of Rifco Inc. and Announces the Renewal and Repricing of its Corporate Revolving Facility
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TORONTO & RED DEER, AB, Jan. 14, 2022

TORONTO & RED DEER, AB, Jan. 14, 2022 /CNW/…

Chesswood Group Limited Closes Strategic Acquisition of Rifco Inc. and Announces the Renewal and Repricing of its Corporate Revolving Facility

Canada NewsWire

TORONTO & RED DEER, AB, Jan. 14, 2022 /CNW/ – Chesswood Group Limited (TSX: CHW) (“Chesswood“), North America’s only publicly traded commercial equipment finance company focused on small and medium-sized businesses, and Rifco Inc. (TSXV: RFC) (“Rifco“), a leading Canadian alternative auto finance company, are pleased to announce the successful completion of Chesswood’s strategic acquisition of Rifco pursuant to the previously announced statutory plan of arrangement under the Business Corporations Act (Alberta) (the “Arrangement“).

The Arrangement was approved by 98.90% of the votes cast by Rifco shareholders at the special meeting of Rifco shareholders held on December 17, 2021. After obtaining the requisite Rifco shareholder approval, the Court of Queen’s Bench of Alberta approved the Arrangement on January 10, 2022.

Under the terms of the Arrangement, Rifco shareholders were entitled to elect to receive $1.28 for each Rifco common share (a “Rifco Share“) held in the form of: (i) cash (the “Cash Consideration“); (ii) common shares of Chesswood (“Chesswood Shares“) at a deemed price of $14.05 per Chesswood Share (the “Share Consideration“); or (iii) a combination of Cash Consideration and Share Consideration. Of the aggregate consideration of approximately $28 million, Chesswood paid $21,019,623.68 in cash and issued 498,605 Chesswood Shares.  

Further details of the Arrangement are set out in Rifco’s management information circular dated November 25, 2021 (the “Circular“).  If a registered Rifco shareholder did not make a valid consideration election by December 10, 2021 (“Non-Electing Shareholders“), that Rifco shareholder has been deemed to have elected to receive Share Consideration in exchange for their Rifco Shares.  Non-Electing Shareholders should send their completed letters of transmittal and election forms and certificates representing their Rifco Shares to the depositary for the Arrangement, TSX Trust Company, in accordance with the instructions contained in the letter of transmittal and election form in order to receive the Share Consideration to which they are entitled pursuant to the Arrangement.  A copy of the Circular and letter of transmittal and election form can be found under Rifco’s profile at www.sedar.com.

“We are excited to work with Rifco’s management and staff to strengthen Rifco’s market position by leveraging off of Chesswood’s strengths and are so glad to have them join the Chesswood family,” said Ryan Marr, Chesswood’s President and CEO.

The Chesswood Shares issued as Share Consideration were listed for trading on the Toronto Stock Exchange (the “TSX“) upon closing of the Arrangement. The Rifco Shares were delisted from the TSX Venture Exchange (the “TSXV“) at the close of trading on the date hereof.

Corporate Revolver Renewal

Chesswood is also pleased to announce it has completed the renewal of its corporate revolver. This facility is provided by a syndicate of banks, including leading Canadian and U.S. banks active in our industry, and is co-led by RBC Capital Markets and TD Securities.

“Our revolving credit facility provides us tremendous opportunity to fund our current and future growth. We are excited to announce we are expanding the base commitment to US$300 million and the accordion feature to US$100 million, for a total potential facility amount of US$400 million,” said Marr. “This renewal provides greater financial and operational flexibility for the company as it pursues its strategic plan, including a welcomed reduction in our cost of funds. This renewal reflects the strong commitment Chesswood continues to receive from its lenders. We’re very grateful for the support of our lenders in Canada and the United States” added Marr.

The term of the senior revolving facility now extends to January 2025 and provides the Company with a strong capital base from which to support future growth. 

About Chesswood Group Limited

Through two wholly-owned subsidiaries in the United States and three subsidiaries in Canada, Chesswood Group Limited is North America’s only publicly traded commercial equipment finance company focused on small and medium-sized businesses. Colorado-based Pawnee Leasing Corporation, founded in 1982, finances a highly diversified portfolio of commercial equipment leases and loans through relationships with over 600 brokers in the United States. Tandem Finance Inc. provides financing in the U.S. through the equipment vendor channel. In Canada, Blue Chip Leasing Corporation has been originating and servicing commercial equipment leases and loans since 1996, and today operates through a nationwide network of more than 50 brokers. Vault Credit Corporation specializes in equipment leases and commercial loans across Canada, allowing for customizable financing solutions while catering to a wide spectrum of credit tiers, equipment types and sectors by offering industry-leading service levels, experienced underwriters and account administrators. Vault Home was launched in September 2021 and focuses on providing home improvement and other consumer financing solutions in Canada.

Based in Toronto, Canada, the Chesswood Shares trade on the TSX under the symbol CHW.

To learn more about Chesswood Group Limited, visit www.Chesswoodgroup.com.

The websites of Chesswood’s operating subsidiaries (other than Rifco) are:

www.PawneeLeasing.com

www.BlueChipLeasing.com

www.TandemFinance.com

www.VaultCredit.com

www.VaultPay.ca

About Rifco Inc.

Rifco is focused on being the best alternative auto finance company through its wholly owned subsidiary Rifco National Auto Finance Corporation. Its mission is to help deserving Canadians own automobiles.

Rifco seeks to create sustainable long-term competitive advantages through personalized partnerships with dealers, innovative products, the use of industry-leading data and analytics, and leading collections practices. Rifco’s corporate culture fosters employees that are highly engaged, innovative and performance driven.

To learn more about Rifco, visit www.rifco.net

Caution Regarding Forward-Looking Information

This news release includes “forward-looking information” within the meaning of applicable securities laws relating to, among other things, the successful integration of Rifco and the accreted use and continuing availability of credit facilities.  Forward-looking information may in some cases be identified by words such as “will”, “anticipates”, “expects”, “intends” and similar expressions suggesting future events or future performance. Chesswood cautions that all forward-looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause Chesswood’s current objectives, strategies and intentions to change. Accordingly, Chesswood warns readers to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding Chesswood’s future results or plans. Chesswood cannot guarantee that any forward-looking information will materialize and readers are cautioned not to place undue reliance on this forward-looking information. Any forward-looking information contained in this news release represents expectations as of the date of this news release and are subject to change after such date. However, Chesswood is under no obligation (and Chesswood expressly disclaims any such obligation) to update or alter any statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.

Forward-looking information is provided herein for the purpose of giving information about the matters referred to above. Readers are cautioned that such information may not be appropriate for other purposes. A comprehensive discussion of other risks that impact Rifco can also be found in its public reports and filings which are available under its profile on SEDAR at www.sedar.com.

None of TSXV, TSX or their respective Regulation Services Providers (as that term is defined in the policies of the relevant exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Chesswood Group Limited






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Bessor Announces the Resignation of Vice President, Exploration

VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) — Bessor Minerals Inc. (TSXV:BST) ("Bessor" or the "Company") announces that Tracy Hurley…

VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) — Bessor Minerals Inc. (TSXV:BST) (“Bessor” or the “Company“) announces that Tracy Hurley has resigned as Vice President, Exploration. The Company thanks Ms. Hurley for her contributions over many years and wishes her well in her future endeavours.

 

 

 

 

BESSOR MINERALS INC.

 

Kieran Downes, Ph.D., P.Geo.

President, CEO & Director

 

For further information, contact:

Investor Relations

Email: [email protected]

Website: www.bessorminerals.com

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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