VANCOUVER, BC / ACCESSWIRE / November 30, 2022 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") announces that during the 2022 field season it conducted airborne LIDAR and Magnetic surveys at its Amelia property near Rock Creek in southern British Columbia.
The Amelia property covers the historic Cariboo-Amelia gold mine in Camp McKinney near Rock Creek, BC in the Greenwood Mining Division. A total of 8 square kilometers were covered by each of the magnetic and LIDAR surveys. The LIDAR survey included orthophotos and data were collected with a Phoenix Ranger Lidar scanner via a manned helicopter. The magnetic survey was flown at 50m spaced flight lines using a DRONE-MAG system, which consists of a multi-rotor UAV platform with a GSMP-35U potassium vapor magnetometer magnetometer, and GSM-19 Overhauser base stations.
Image showing gold-quartz veins and outline of Amelia LIDAR and Magnetic surveys.
The Amelia property covers historic Camp McKinney and the Cariboo-Amelia gold mine. The Cariboo gold vein was discovered in 1887. Production at the mine started in 1894 and continued until 1903. The vein terminated to the east in a fault. In 1957, an extension was discovered by surface diamond drilling and the mine was reactivated. Production continued until 1962. The Cariboo-Amelia mine produced 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc from 112,254 tonnes milled (BC Minfile). The average recovered gold grade was 24.68 grams per tonne gold.
The general area, originally known as Camp McKinney, is host to fifteen polymetallic and precious metal quartz vein, skarn and placer gold mineral occurrences on the property. The main vein, the Cariboo or McKinney vein, is a gold-quartz vein hosted in metamorphic rocks of the Paleozoic Anarchist Schist. The vein is offset by several north-trending faults where it was mined. Other veins include the Wiarton and Eureka veins, which are possible eastern and western extensions of the Cariboo vein. Nearby parallel veins include the Minnie Ha Ha, Dolphin and Sailor veins. Further out are the Anarchist vein to the southwest, and the Fontenoy vein to the east, which strike at high angle to the Cariboo vein.
Cariboo-Amelia Mine 3D Model
In 2022, Ximen started to re-interpret the geological structure of the mine area, aided by 3D modeling of the vein and cross-fault structures. A patchwork of small geological, geochemical and geophysical surveys are being compiled using GIS. The results of this work together with the new Magnetic and LIDAR surveys will be used for generating targets for exploration drilling. The magnetic results will be used to interpret the distribution of rock types beneath cover and identify possible de-magnetized zones associated with mineralization. The LIDAR will be used to identify fault structures and to provide a detailed topographic base.
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations:
Sophy Cesar
604-488-3900,
[email protected]
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen`s two Gold projects, The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.
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 contains certain "forward-looking statements" within the meaning of Canadian securities This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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.
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 Tel: 604-488-3900
SOURCE: Ximen Mining Corp.