Ximen's Option Partner Gives Exploration Update, Treasure Mountain Silver Project, Tulameen B.C.
Tuesday, July 16, 2019 3:30 AM
VANCOUVER, BC / ACCESSWIRE / July 16, 2019 / Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB:XXMMF) (the “Company” or “Ximen”) is pleased to announce that its option partner, New Destiny Mining Corp, has completed trenching, road building, drill site construction, and rock chip sampling has been on the Treasure Mountain Silver property, located near Tulameen, B.C. The Treasure Mountain Silver Property covers 10,700 hectares of geologically prospective ground adjacent to Nicola Mining Inc.’s Treasure Mountain Property (site of the historic Treasure Mountain Silver-Lead-Zinc mine). The Treasure Mountain Silver Property hosts at least seven gold, silver, lead, zinc and / or copper B.C. MINFILE occurrences in various regions. These include gold-quartz vein, polymetallic veins and porphyry type showings. Some of these mineral occurrences have associated historic underground workings. The Property occurs within the Intermontane Terrane, which hosts numerous porphyry copper deposits.
Sampling at Railroad Creek prospect
Copper mineralization from Railroad Creek.
An initial work program of trenching and rock sampling, and access road and drill site construction has been completed at two target areas: The Superior (Lucky Todd) and Railroad Creek prospects. These areas cover copper-gold rock geochemical anomalies identified during previous work programs on the property. Work started at the Superior, where a previous sample returned 8.81 grams per tonne gold. Drill sites were prepared and a total of 60 metres of excavator trenching was competed that exposed a number of intrusive-hosted quartz veinlets mineralized with pyrite and chalcopyrite. Work then progressed to the Railroad Creek prospect, which is the site of at least 8 historic mine adits that explored copper mineralization hosted in diorite-granodiorite. Rock geochemical anomalies for copper (up to 8940 ppm Cu or 0.89% copper) were previously identified at this site. A total of 890 metres of access track/bush road were constructed, 15 metres of trenching completed, and 2 drill sites were built. A mineralized zone containing pyrite and chalcopyrite was exposed over a length of 12 metres, extending from an historic mine adit. Rock channel sampling was conducted at both sites and samples were submitted for analysis.
Photos of new trench at Lucky Todd
Access road construction
The next stage of exploration work will focus on the Jamie Creek area, where a number of gold vein targets have been identified, with previous sampling returning values up to 11.3 grams per tonne gold. Planned work includes re-establishing the access road, trenching and drill site construction. Drilling of selected sites at all of the prospect areas is planned to follow later in the season.
Analytical results reported above were performed by ALS Laboratories in North Vancouver, BC., which is an independent and accredited commercial laboratory. Analyses for gold were done by fire assay with AA finish on 50 gram subsamples. Analyses for copper was by four acid digestion with ICP-MS finish.
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
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% 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. The company has recently acquired control of the Kenville Gold mine near Nelson British Columbia and The Amelia Gold Mine in the center of the McKinney Gold Camp.
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.