ZURICH, SWITZERLAND / ACCESSWIRE / October 24, 2019 / Today, Ximen Mining Corp. (TSX.V: XIM; OTCQB: XXMMF; Frankfurt: 1XMA) published an initial progress report on the first deep drill hole to test the Stargate II Anomaly, a large geophysical target at the Gold Drop Property. As of October 19, the hole had reached a depth of 658 m and mineralization was intersected successfully, most notably magnetite starting at 479 m and continuing intermittently to at least 577 m. The published drill core pictures look highly promising. Note that drilling has not stopped and is ongoing to greater depths as the findings to date indicate great potential for more mineralization to be encountered.
Seeing long intervals of magnetite mineralization in drill core is very encouraging, because "magnetite can be a significant host mineral for gold" and "magnetite-rich systems are also potential targets for Au exploration and extraction".
The full report can be accessed with the following links:
PDF: https://www.rockstone-research.com/images/PDF/Ximen17en.pdf
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., GGX Gold 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. Note that Ximen Mining Corp. pays Zimtu Capital Corp. to provide this report and other investor awareness services.
SOURCE: Rockstone Research