ZURICH, SWITZERLAND / ACCESSWIRE / July 11, 2019 / Ximen Mining Corp. (TSX.V: XIM; OTCQB: XXMMF; Frankfurt: 1XMA) made an announcement today that is poised to draw the attention of the big boys. Ximen’s option partner for the Gold Drop Property, GGX Gold Corp. (TSX.V: GGX), is mobilizing to drill test a newly discovered high-priority target at a depth of at least 400 m and up to 764 m - the deepest ever to be drilled on the Gold Drop Property and, according to my research of public records, the deepest ever to be drilled in the entire Greenwood Mining Camp. When you drill that deep, you are obviously looking for something big, such as a multi-million ounce gold deposit. Otherwise it would not make any sense as mining at such depths require large volumes of strongly mineralized material.
Since mid-April 2019, GGX completed 32 holes for a total of 1,923 m (60 m per hole on average) at the C.O.D Vein on the Gold Drop Property. Assays are pending and expected shortly, however, no matter how good the results may be, such a near-surface gold vein would likely not draw the attention of senior mining companies because really large gold deposits are most often at depth.
Don’t get me wrong! There is nothing wrong with drilling the C.O.D Vein in an effort to delineate a smaller resource near surface as they could be targeting small-scale mining in case a milling opportunity evolves at the near-by Greenwood Processing Facility (212 t/day capacity) owned by Golden Dawn Minerals Inc. (TSX.V: GOM). Such a mining venture still provides potential to create significant shareholder value along the road. On the other hand, the proposed deep drilling at Gold Drop is a completely different ballpark. It’s going after big gold - “hunting for elephants” as they say in the exploration and mining industry.
The full report can be accessed with the following links:
English (PDF): https://www.rockstone-research.com/images/PDF/Ximen14en.pdf
English (web version): https://www.rockstone-research.com/index.php/en/research-reports/5523-Ximens-option-partner-mobilizes-for-deep-drilling-to-test-for-a-large-gold-deposit-near-Greenwood-in-British-Columbia
German (PDF): https://www.rockstone-research.com/images/PDF/Ximen14de.pdf
German (web version): https://www.rockstone-research.com/index.php/de/research-reports/5524-Ximens-Optionspartner-startet-Tiefenbohrung-zur-Entdeckung-einer-riesigen-Lagerstaette-mit-mehreren-Millionen-Unzen-Gold
Contact:
Rockstone Research
Stephan Bogner (Dipl. Kfm., FH)
8260 Stein am Rhein, Switzerland
Phone: +41-44-5862323
Email: [email protected]
www.rockstone-research.com
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