VANCOUVER, BC / ACCESSWIRE / June 6, 2019 / Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB:XXMMF) (the "Company" or "Ximen") announces its option partner GGX Gold Corp. has completed 20 diamond drill holes on the C.O.D. vein at the Gold Drop property in the Greenwood Mining Camp.
The Company deployed one drill rig for in-fill drilling on the C.O.D. vein to explore the vein between and below the significant intercepts obtained last year. The highlights of the 2018 diamond drilling program were drill holes COD18-67 and COD18-70 that intersected near-surface, high-grade gold, silver and tellurium in a newly discovered southern extension of the C.O.D vein. Highlights from 2018 include include the following intercepts:
- COD18-67: 129 g/t gold, 1,154 g/t silver & 823 g/t tellurium over 7.28 meters core length.
- COD18-70: 107 g/t gold, 880 g/t silver & 640 g/t tellurium over 6.90 meters core length.
Photo of piece of core from Hole 2019-19 containing visible gold in rusty quartz.
Since the start of the season in mid-April, 20 holes have been completed for a total of 1217 meters cored. Ten holes intersected the C.O.D. quartz vein at their target depths, of which eight vein intercepts were visibly mineralized with pyrite. Two of the intercepts also contained possible telluride mineralization and one intercept contained visible gold (see attached photo). In the C.O.D. vein, elevated silver, gold and tellurium values are associated with a silver-grey mineral thought to be the telluride mineral named sylvanite, which has the formula (Ag,Au)Te2.
The drill core is currently being logged and cut in half with a diamond saw at GGX's facility in Greenwood, B.C. Half core samples will be shipped for assay early in June.
Further exploratory drilling is also being planned to test the southern extension of the C.O.D. vein, the Everest vein that was discovered in 2018, and on the C.O.D. North vein. The Gold Drop mine is also a target for further exploration.
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
Investor Relations:
Mr. William Sattlegger, 604-488-3900
[email protected]
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all 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.
NEW DEVELOPMENTS : Ximen has recently acquired the Kenville Gold Mine in Nelson, and the Armelia Gold Mine - Camp McKinney near Baldy Mountain Resort. Both located in Southern BC
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.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888,
Vancouver, B.C., V6C 3K4
SOURCE: Ximen Mining Corp.