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Xander Increases Presence in Abitibi Greenstone Belt Options Bachelor North Property
(TheNewswire) January 11, 2021 – TheNewswire - Xander Resource...
About this update from Core Critical Metals Corp.
[{"type":"text","content":"Xander Increases Presence in Abitibi Greenstone Belt Options Bachelor North Property\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n January 11, 2021 –\n \n \n TheNewswire -\n \n \n Xander Resources Inc. (TSXV:XND) (FSE:1XI)\n \n \n (OTC:XNDRF)\n \n \n (\"Xander\" or the\n\"Company\")\n \n \n is pleased to announce\nthat\n \n \n p\n \n \n ursuant to an Option\nAgreement dated January 8, 2021 the Company has agreed to acquire a\n100% interest in the 35 mineral claims\n \n \n located\nin Waswanipi, Quebec known as the\n \n \n Bachelor North Property\n \n \n ,\n \n \n from an arm’s length vendor.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n The Company has an option to acquire the\n \n \n Bachelor North Property\n \n \n in exchange for\n \n \n $2,318.75 cash payable\non or before Closing (as defined below); 100,000 common shares on or\nbefore Closing;\n \n \n \n \n 467,000 common shares on or before three months after\nClosing;\n \n \n 467,000 common shares on or before six\nmonths after Closing; 467,000 common shares on or before twelve months\nafter Closing;\n \n \n and a 2% net smelter return\nroyalty.\n \n \n Closing will occur on or before the\nseventh day following acceptance by the TSX Venture Exchange of notice\nof the transactions described herein and no later than January 30,\n2021.\n \n \n \n \n James Hirst, CEO of the Company, comments, “Together\nwith our Fenelon and Senneville properties this option positions\nXander in its third discovery area in the Abitibi Greenstone Belt. The\n \n \n Bachelor North\nProperty\n \n \n is contiguous to and north of\n \n \n Midland\nExploration\n \n \n ’s Lewis property, and to the\nsouthwest are\n \n \n Soquem\n \n \n ,\n \n \n Goldex\n \n \n and\n \n \n Bonterra\n \n \n . The\nproperty is located a little east of the Lamarck-Wedding deformation\ncorridor where several mining sites such as the Shortt Lake mine (2.7\nMt at 4.6 g/t Au), the Bachelor mine (869,432 tonnes at 4.7 g/t Au),\nthe Coniagas mine (718,465 tonnes at 10.77% Zinc) and the Langlois\nmine (65 Kt Zinc concentrate, 2,1 Kt copper concentrate, 553 troy\nounces Silver concentrate and 1,9 K troy ounces Gold concentrate) have\nbeen exploited. The corridor includes rhyolites said to be fertile\nwith respect to VMS mineralization and a panoply of intrusions ranging\nfrom s...