Construction of new underground decline
ZURICH, SWITZERLAND / ACCESSWIRE / July 22, 2019 / Ximen Mining Corp. (TSX.V: XIM; OTCQB: XXMMF; Frankfurt: 1XMA) made the announcement today of aspiring to pour the first doré bar as early as the end of this year from its Kenville Gold Mine Property near Nelson in southern British Columbia, Canada.
Bulk sampling during the construction of a new decline is planned as at least 2 veins are expected to cross the new decline before reaching its target length of 506 m. After the decline has reached its target length, access to the center of a series of vein intercepts in historic holes drilled between 1995 and 2010 is expected to be provided. The end of the decline is planned to be in a favourable position for a raise to be driven to connect with the historic workings of the past producing Kenville Gold Mine, to be used for ventilation and as a secondary egress as the mine is progressively developed.
Although Ximen hopes to generate revenue from the processing of the proposed 10,000 tonnes bulk sample, the company nevertheless has recently secured equity financings of up to $8 million over 2 years with Alumina Partners LLC, structured to provide Ximen with relatively quick access to private placement financing as and when required, at its sole discretion.
As the gold price is appreciating strongly at the moment, the timing could be perfect for Ximen. Currently trading at $1,862 CAD, the gold price in Canadian Dollar has now successfully broken its previous all-time high of $1,855 CAD (2011).
The full report can be accessed with the following links:
English (PDF): https://www.rockstone-research.com/images/PDF/Ximen15en.pdf
Stephan Bogner (Dipl. Kfm., FH)
8260 Stein am Rhein, Switzerland
Disclaimer: This report contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Rockstone Research, Ximen Mining Corp. and Zimtu Capital Corp. caution investors that any forward-looking information provided herein is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Ximen Mining Corp.´s and Zimtu Capital Corp.´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Ximen Mining Corp.´s and Zimtu Capital Corp.´s profile on SEDAR at www.sedar.com. Please read the full disclaimer within the full research report as a PDF as fundamental risks and conflicts of interest exist. The author, Stephan Bogner, holds a long position in Ximen Mining Corp., Golden Dawn Minerals Inc. and Zimtu Capital Corp. and is being paid by Zimtu Capital Corp. for the preparation, publication and distribution of this report, whereas Zimtu Capital also holds a long position in Ximen Mining Corp. and Golden Dawn Minerals Inc. Ximen Mining Corp. has paid Zimtu Capital Corp. to provide this report and other investor awareness services.
SOURCE: Rockstone Research
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