Vancouver, British Columbia–(Newsfile Corp. – December 12, 2018) – Today’s feature company is Ximen Mining (TSXV:XIM) (OTCQB:XXMMF) (FSE: 1XMA), which owns a 100% interest in 3 precious metal projects located in southern British Columbia, Canada. The company is focusing on its Brett Epithermal Gold Project, having optioned both its Gold Drop Gold Project and its Treasure Mountain Silver Project, which is located adjacent to the past-producing Huldra Silver Mine.
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The 20,000 hectare Brett Gold Project is located about 30 kilometres west of Vernon and 70 kilometres southeast of Kamloops. Previous work from the early 1980’s through to 2004 included more than 15,000 meters of diamond drilling and 459 meters of underground development.
Exploration work by Ximen in 2014 included ground magnetics/VLF-EM, soil geochemistry, biogeochemistry, rock sampling, geological mapping, induced polarization and 13 drill holes totaling 2,977 meters. Two new high-grade gold-bearing zones were identified, with results including 34.18 grams per tonne gold over 0.9 meters from one zone and 16.7 grams per tonne gold over 1.5 meters from the second. Significant intervals of bulk tonnage gold mineralization were also intercepted, including 1.77 grams per tonne gold over 31 meters, 1.88 grams per tonne over 16.55 meters and 0.82 grams per tonne gold over 33 meters.
In 2016, Ximen drilled 16 drill holes totaling 2,364 meters on specific targets which resulted from geological interpretation conducted on cross-sections. Some core samples from the drilling program revealed high gold intersections. Drill hole 16-1 intercepted an interval with 18.95 grams per tonne gold over 1 meter, drill hole 16-2 intercepted an interval with 3.13 grams per tonne gold over 1.1 meters, drill hole 16-11 intercepted 13.35 grams per tonne gold over 0.58 meters and drill hole 16-17 intercepted 5.7 grams per tonne gold over 0.5 meters. The portal has been closed off and buried for several years for public safety concerns was re‐opened 2018.
The company plans carry out drifting and underground drilling in the spring of 2019. Underground drilling will focus primarily on intersecting previously identified mineralized zones M-1, M-2 and M-3 with an intent to define the rough gold grade and tonnage of each zone. Approximately 250 meters of drifting and cross-cutting is planned with a further extension of the main drift 100 meters to the north and 50 meters to the east to intersect the next shear structure.
Drifting to intersect the L-1 mineralized zone identified in 2004, parallel and east of the main shear zone is also intended. This shear structure was intersected in Hole 4‐12 across a core width of 1.3 meters grading 176 grams per tonne gold. Short cross-cuts both east and west may also be carried out to follow parallel gold bearing structures.
Ximen recently amended the terms of the NSR with American CuMo Mining on certain Brett Gold property claims. The final payment of $930,000 due by February 20, 2020 is reduced to $720,000 to be paid by the issuance of 2.4 million Ximen shares with a deemed price of $0.30 per share.
For more information, please visit the company’s website, www.ximenminingcorp.com, contact Christopher R. Anderson, President and CEO, at 604-488-3900 or email [email protected].
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