VANCOUVER, BC / ACCESSWIRE / April 05, 2019 / Ximen Mining Corp. (TSX.V: XIM) (OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to announce the acquisition of over 12,900 hectares of land near Greenwood, BC. The company acquired this land package by means of a direct purchase and additional staking. The property is comprised of 17 mineral tenures located in the mining friendly Greenwood District.
The Providence Mineral Claim surrounds the Gold Drop Property that is currently under an option agreement to GGX Gold Corp. (TSX.V: GGX). The property also adjoins a large swath of land to the South and East that is currently being explored by Kinross Gold Corp. (TSX T.K).
Ximen Mining Corp option partner GGX Gold Corp completed 71 diamond drill holes on the C.O.D vein in 2018. The highlights of the program are two holes that intercepted 107.5 g/t gold and 880 g/t silver over 6.90 meters core length and 129 g/t gold and 1,154 g/t silver over 7.28 meter core length.
The claims cover or border several historic past producing mines and mineral occurrences. Included is the Providence mine that operated intermittently from 1893 to 1973. A total of 10,426 Metric tonnes of ore was mined, producing 183 kilograms of gold, 42,552 kilograms of silver, 183 tonnes of lead, 118 tonnes of zinc. The Combination mineral showing was also mined, with 11 tonnes yielding 60,340 grams silver and 653 grams of gold. There are a total of eleven known mineral occurrences covered by the mineral claims.
Picture: Providence Mine quartz sample (Assay: 2.87 gpt Au and 127 gpt Ag)
The Company's field crew recently carried out an initial site visit to the Providence claim. The program was designed to locate and sample historical workings. One sample from an unnamed mine dump returned significant gold and silver values of 2.87 grams per tonne gold and 127 grams per tonne silver. The find is located northeast of the historic Providence mine. Several previously un-documented exploration pits were also discovered, which exposed massive sulphide material containing chalcopyrite, bornite, and magnetite (see picture below). This sample returned values of 2350 ppm Cu and 3.4 ppm silver.
Geochemical analyses disclosed in this release were conducted by ALS Global - Geochemistry Analytical Lab in North Vancouver, BC, Canada. ALS is an independent, fully accredited commercial laboratory. Gold was determined by the fire assay method using a 50 gram sample weight. Other metals were analyzed as part of a 33 element package using a four acid digestion and determination by ICP-AES.
Picture: Copper-rich massive sulphide from historic pit.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
Ximen Mining Corp. 604 488-3900
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects located in southern BC. Ximen`s two Gold projects are The Gold Drop Project and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine. Currently, both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements. The option partners are making annual staged cash and stocks payments as well as funding the development of these projects.
Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Neither 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 release.
SOURCE: Ximen Mining Corp