Ximen Mining Corp. (the "Company" or "Ximen") (TSX-V:XIM)
(OTCQX:XXMMF) is pleased to announce that the field crew under the
guidance of Linda Carron MSc, PEng, have made several new
discoveries on the property and the company is currently awaiting
assays. Since early May crews have been working in preparation of
the upcoming drill program included are some of the companies
activities underway.
One new discovery is a new quartz vein discovered in outcrop, 60
metres east of the RW vein bulk sample pit. Well-developed
pseudomorphs of cm-scale bladed calcite replaced by quartz,
indicative of boiling level in the epithermal system, are present
in the vein. Hand trenching by Ximen has exposed this vein for a 5
metre strike length. The vein is flat-lying and has a minimum true
thickness of 0.4 metres. The hangingwall contact has not yet been
exposed. To date, 3 grab samples have been collected from this
vein with results to 513 ppb Au. Additional hand trenching is
planned to more fully expose the vein for detailed representative
sampling and to determine its true thickness. Because of the
vein geometry, this vein is untested by any of the previous
drilling on the property.
Regarding the discovery of this new low-angle quartz vein with
pseudomorphic quartz after bladed calcite, 20 meters above the pit
on the Brett Main Shear Zone, Dr. Michael Rasmussen said, "Even if
assays from this specific location are not economically
significant, this evidence of hydrothermal boiling so close to the
high-grade showings of the Main Shear Zone is a good indication
that the vein system at Brett is of greater size and more varied
geometry than previously known, and that higher gold grades are
likely to be found at depth."
As well one hundred metres on-strike to the east of this new
vein discovery, abundant epithermal quartz and quartz-stockwork
float boulders were located, which may represent the on-strike
continuation of this vein. A quartz float boulder in this area
sampled by Huntington Resources in 1986 returned 1.58 oz/t
Au. Since then, the area has been logged and many more quartz
float boulders are now visible. Individual quartz boulders
range to 0.75 x 1 m in size. Ximen has collected several
samples from these quartz boulders, in an attempt to confirm the
historic high gold values. The best results returned to date were
4.28 g/t Au. Additional results from this area are
pending.
Another new discovery was made, 1 km northeast of the Main
Shear/RW zone. A zone of intense silicification and quartz
veining was discovered in float and subsequently traced to outcrop
by hand trenching. Its dimensions remain unknown. The
silicified zone is peripheral to a zone of phyllic and intense
argillic alteration and is untested by any previous
work. Sample results are pending.
Additional Hand trenching has exposed the Main Shear zone near
the confluence with the RW vein, at the south end of the previous
RW vein bulk sample pit. A 291 tonne surface bulk sample from
the RW vein collected in 1995 averaged 0.81 oz/t Au (27.7 g/t Au).
Where exposed by Ximen's hand trenching, the Main Shear is a strong
gouge zone that measures 6 metres in true width and contains
abundant angular quartz vein fragments. Systematic continuous
channel samples were collected across the shear zone to verify
historically reported results.
Ximen's sampling from the shear at this location, did reveal
strongly elevated gold in highly altered siliceous rocks in the
footwall to the shear (2.6 g/t Au over 4 m, including 1.5 m grading
4.7 g/t Au). Three hundred metres on-strike to the southeast,
the Main Shear was also exposed by hand trenching. Here the shear
consists of two sub-parallel gouge zones, respectively 0.9 and 1.5
metres in true width, which are separated by a 25 metre zone of
feldspar porphyry dyke plus altered volcanics. Representative
channel samples have also been collected across the shear zone at
this location and have been submitted for analysis. Results
are pending. Additional hand trenching is planned in several other
areas, to expose the Main Shear and the RW vein for systematic
representative sampling.
Ximen has begun the process of refurbishing the core yard on the
property, cataloguing historic drill core, examining specific
intercepts and relogging select drill holes. Several intervals
of interest have been identified in the historic core, which remain
unsplit and unsampled. These intervals will be sampled as part
of Ximen's work in the coming weeks. The company has also been
working to brush out historic roads on the property, restore road
access to all of the known areas of mineralization and confirm
historic drill holes collar locations. Representative samples
have also been taken to establish the average grade of the
development muck stockpile near the historic adit on the
property. Approximately 800-1000 tonnes of material is present
in this stockpile.
Analytical work for Ximen's 2014 work program is being completed
by Actlabs, at their accredited Kamloops-based facility (ISO
9001:2008 accredited, ISO 17025 – pending). Ximen's analytical
protocol has been designed to mitigate potential nugget gold
issues, to provide representative gold analyses, and to provide
multi-element information which may help understand zoning within
the system. Large samples are collected in the field (2 -
7 kg). At the laboratory, the entire sample is finely crushed
(90% passing 2 mm screen), then a 1 kg split of the crushed sample
is pulverized to 95% passing 105 microns. All samples are
tested for gold, using Fire Assay/AA finish on a 30 gm sample of
pulverized material. All samples are also tested for a
multi-element ICP/MS suite following aqua regia digestion, and for
Hg using cold vapour FIMS. For all samples that return > 2
ppm Au or > 200 ppm Ag based on the FA/AA gold or ICP analyses,
metallic gold assays are completed on 500 gm samples of pulverized
material. To date, two batches of rock/trench samples have
been submitted to Actlabs for analyses.
Patrick Forseille,PGeo, a qualified person as defined by NI
43-101, is responsible for the technical information contained in
this release.
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in its two
projects, Gold Drop Project and Brett Gold Project located in
southern British Columbia. Recently the company has entered into a
due diligence agreement with Huldra Silver Inc. for the purposes of
determining the feasibility, terms and conditions of a proposal for
the acquisition of Huldra Silver. Ximen is a publicly listed
company trading on the TSX Venture Exchange under the symbol XIM,
and is listed on the Frankfurt, Munich, and Berlin Stock Exchanges
in Germany under the symbol 1XM and WKN number is A1W2EG as well in
the USA on the OTCQX under the symbol XXMMF.
On behalf of the Board of Directors,
"Christopher R. Anderson."
Christopher R. Anderson, President, CEO and Director, Ximen
Mining Corp.
This press release includes certain statements that may be
deemed "forward-looking statements". All statements in this
release, other than statements of historical facts, that address
future exploration drilling, exploration activities and events or
developments that the Company expects, are forward looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include exploitation and exploration
successes, continued availability of financing, and general
economic, market or business conditions.
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.
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CONTACT: For further information, please contact
Ward Kondas 604-488-3900 or
by email at ward@ximenminingcorp.com
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