VANCOUVER, BC / ACCESSWIRE / March 20, 2017 / (TSX-V: XIM) Ximen Mining Corp. (the "Company" or "Ximen") is pleased to announce analytical results for drill core samples collected recently from holes 2016-2 and 2016-6, drilled on the Company's Brett Epithermal Gold-Silver Property, located 30 kilometres west of Vernon, BC. Both drill holes were part of an HQ diamond drilling program consisting of 16 holes totaling 2364 metres completed during July - September, 2016 on the Brett Property. Hole coordinates and initial core sample analytical results were reported by the Company in the November 21, 2016 News Release.
Ximen is currently sampling and re-sampling drill core from the 2016 program. Analytical results for hole 2016-1 core samples, drilled at the Main Zone, were recently reported by the Company (News Release of March 9, 2017). The analyses indicate gold mineralization in hole 2016-1 occurring mainly locally between 83.00 - 112.05 meters. Samples within this zone include 112 g/t (ppm) gold and 263 g/t silver over a 0.30 meter core length of quartz veining (plus or minus carbonate) and silicification and samples with low grade gold mineralization in pyrite bearing, altered volcanics (including 2.2 g/t Au over and 1.73 meter and 1.20 g/t Au over 3.03 meter core lengths). The true thickness of these intersections is unknown.
The Company has received analytical results for holes 2016-2 and 2016-6.
Drill hole 2016-2 tested the northwest trending Main Zone near the northern extent of the existing adit. The hole was drilled at a 50 degree dip to the northeast (60 degree azimuth) for a total length of 121.92 meters and was collared approximately 20 meters northwest of hole 2016-1. Initial sample results for hole 2016-2 included three samples between 80.54 - 83.81 meters, with a weighted average of 2.40 g/t gold over 3.27 meter core length (News Release of Nov. 21, 2016). This interval is within a zone of altered volcanics with carbonate filled fractures.
The current sampling program identified an interval of low grade gold mineralization at 53.30 - 63.47 meters in hole 2016-2, consisting of variably altered volcanics, commonly with pyrite and plus or minus quartz, carbonate veining. The weighted average of this 10.17 meter core length interval is 1.31 g/t gold (true width is unknown). A sample at 119.32 - 119.56 meters within a fault zone returned 2.43 g/t Au (true thickness is unknown).
Hole 2016-6 was collared approximately 68 meters east of hole 2016-1 and approximately 82 meters southeast of hole 2016-2. Hole 2016-6 tested the area east of the Main Zone. It was drilled at a 50 degree dip to the northeast (60 degree azimuth) for a total length of 134.62 meters. The current sampling program identified a gold bearing interval in this hole at 68.00 - 70.00 meters. The weighted average of this 2 meter core length interval is 2.85 g/t Au, including a sample of 4.75 g/t gold over 0.65 meter core length (true thickness is unknown). This interval is a pyrite bearing, altered tuffaceous unit (being variably silicified) with plus or minus quartz veining.
The more significant results (at a 1.0 gram cutoff value for gold) of this recent sampling of holes 2016-2 and 2016-6 drill core include the following (length is core length):
|
Hole No. |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
|
2016-2 |
42.35 |
43.45 |
1.10 |
1.75 |
|
2016-2 |
53.30 |
63.47 |
10.17 |
1.31 |
|
(includes) |
61.00 |
62.50 |
1.50 |
3.19 |
|
2016-2 |
72.76 |
73.15 |
0.39 |
1.78 |
|
2016-2 |
119.32 |
119.56 |
0.24 |
2.43 |
|
2016-6 |
68.00 |
70.00 |
2.00 |
2.85 |
|
(includes) |
68.00 |
68.65 |
0.65 |
4.75 |
|
2016-6 |
88.88 |
89.75 |
0.87 |
1.06 |
Drill hole 2016-02: Altered volcanics with pyrite and minor quartz, carbonate veining.
To view the image for the Drill hole, please click on the following link: http://www.accesswire.com/uploads/15717_ximenimage1.png
During the current sampling program, core samples are being cut with half core samples submitted for analysis. In minor cases where core is re-sampled, the existing half core is quartered with quarter core samples submitted for analysis. At ALS Minerals, the samples were crushed to 90% less than 2 millimeters; riffle split off 1 kilogram; and split portion pulverized to better than 95% passing 106 microns. The pulverized portions were analyzed for gold by Fire Assay and Inductively Coupled Plasma - Atomic Emission Spectrometry (ICP-AES) and for 33 elements (including silver) by four-acid and ICP-AES.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
The Company has granted 1,500,000 stock options at an exercise price of $0.09 The options are exercisable for two years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the company.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
Ximen Mining Corp.
(604) 488-3900
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects. Ximen's two Gold projects, The Gold Drop Project and Brett Gold Project are located in southern British Columbia. Ximen also owns the Treasure Mountain Silver project adjacent to the past producing Huldra Silver Mine. 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 1XM and WKN with the number as A1W2EG.
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.
Contact:
Ximen Mining Corp
888 Dunsmuir Street - Suite 888,
Vancouver, B.C., V6C 3K4
Tel: 604-488-3900
SOURCE: Ximen Mining Corp