InvestmentPitch Media Video Discusses Ximen Mining’s Start of its 2022 Exploration Programs, beginning with some of its Properties in the Nelson area of British Columbia, where it Controls Approx. 21,300 hectares
30 Mai 2022 - 12:00PM
Ximen Mining (TSXV:XIM) (OTCQB:XXMMF) (FSE:1XMA) has kicked off its
2022 exploration programs this week, starting with some of its
properties in the Nelson area of British Columbia. Ximen now
controls approximately 21,300 hectares of mineral properties near
Nelson, covering 57 mineral occurrences including its 100%-owned
the Kenville Gold Mine.
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Although the current focus is on the Kenville Gold
Mine, the first recorded underground mine in British Columbia,
having started production in 1890 and mined into the 1950’s, the
company is actively working on the Wilcox tailings dump and the
Protection dump. In addition, a drill permit is in place for the
California mine property, with drilling planned for later this year
and an application has been made for the area covering the Star and
Venus properties.
Ximen acquired the Wilcox and Protection
properties along with several other nearby properties in June 2020.
The acquisition also included a tailings deposit from the historic
Wilcox Mine, a small, high-grade gold producer with a mill that
processed about 14,555 tonnes of ore between 1900 and 1940.
In 2005, the resource potential of the tailings
deposit was estimated in a report titled “Wilcox Mine Tailings -
Gold Resource Evaluation”. The average grade of the tailings
deposit was estimated at 3.09 gpt gold, based on multiple assays of
samples collected on a grid pattern, with tonnage estimated at
12,387 tonnes, based on depth and specific gravity measurements.
The in-situ gold potential was estimated as 1,230 ounces of gold,
with an average gold recovery rate of 80% projected based on
available metallurgical test results. Management cautions that
Ximen Mining is not treating this historical estimate as current
mineral resources or mineral reserves.
In 2021, geochemical sampling was conducted at the
Wilcox tailings, rock sampling was done at the Protection mine
dump, and soil sampling was done south of the Kenville mine. Work
also included and construction of exploration trailer camp and
facilities.
The current work program will include sampling of
the Wilcox mine dump, thickness measurements of the Wilcox
tailings, collection of a bulk sample of tailings for metallurgical
testing, and determination of the bulk density of the tailings. The
Wilcox tailings sampling program (128 samples) outlined a gold
bearing tailings deposit extending approximately 500 metres in
length and 100 metres wide and covering an estimated area of 67,000
square metres that extends from an historic mill site. The
arithmetic average gold grade is 2.39 grams per tonne gold.
Rock sampling of the Protection dump consisted of
39 composite samples collected on a 10 x 10 metre grid. Average
grades of the samples are 9.5 grams per tonne gold, 47.5 grams per
tonne silver, 1.13% lead, and 1.37% zinc. The mine dump has an area
of roughly 2,717 square metres.
Soil sampling was done on a grid extending south
from the Kenville mine. Results included elevated results for gold
where values ranged up to 0.487 ppm gold, silver where values
ranged up to 7.97 ppm silver, and copper where values ranged up to
2590 ppm copper.
Anomalies for gold occur near the Kenville
property boundary and around the Jackpot occurrence property.
Silver values were elevated mostly in the southeast and east of the
sample grid, forming three northwest trending anomalies (400 meters
long by 200 meters wide each); Copper values show an anomaly (400 x
400 meters) in the south-central part of the sampling grid, in
between the Mor 1, Eureka and Central occurrences.
Ximen also owns 100% of three precious metal
projects located in southern BC, the Amelia Gold Mine, the Brett
Epithermal Gold Project, and the Treasure Mountain Silver Project
adjacent to the past producing Huldra Silver Mine. Currently, the
Treasure Mountain Silver Project is under an option with the option
partner making annual staged cash and stocks payments as well as
funding the project.
Ximen’s shares are trading at $0.125.
For more information, please visit the company’s
website, www.XimenMiningCorp.com, contact Christopher R. Anderson,
President and CEO, at 604-488-3900. For Investor Relations, contact
Sophy Cesar, at 604-488-3900 or by email at
ir@XimenMiningCorp.com.
Disclaimer
The information in this InvestmentPitch Media Ltd
video is for the viewers information only. Ximen Mining has paid a
fee not exceeding $2,000 in cash to have its current news release
produced in video format. The corporate information is based on
information that is publicly available. Any information provided by
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