Xander Resources (TSXV: XND) this morning announced that it has expanded its claims for the Blue Ribbon Property in the Fenelon region. The expansion results in the company having a total of 48 claims on the property, up from 39 claims.
The additional claims were acquired via staking, covering an additional 442.47 hectares. The additional claims were staked as a means of obtaining claims over what is referred to as a “cluster of three outcrop hills,” referred to as the Gaudet Hills.
The additional claims are near the historic gold showing originally reported on in 1969 by H. Remick. Assays conducted in 1986 for the government revealed 8.5 grams per tonne gold over a width of 0.76 metres, although it should be noted that this is not 43-101 compliant. This showing was located three kilometres northeast of the Hills, with the company planning exploration to determine if such mineralization is repeated in the hills themselves.
A base camp has been established by the company at the Gaudet Hills to facilitate exploration at the property. A two to three week program to identify targets is currently being prepared, with Xander looking to determine whether the shear zone at the Remick showing is repeated in the Gaudet Hills.
Xander Resources last traded at $0.30 on the TSX Venture.
FULL DISCLOSURE: Xander Resources is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover Xander Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.