VANCOUVER, B.C. / ACCESSWIRE / January 14, 2019 - Ximen Mining Corp. (TSX.V: XIM) (OTCQB: XXMMF) (the "Company" or "Ximen") is pleased to provide an update on the Gold Drop Property which is currently under option agreement to GGX Gold Corp. (TSX.V: GGX) and located near Greenwood in southern British Columbia.
Ximen's option partner has announced diamond drill core analytical results for the first 7 of the 11 diamond drill holes completed, COD18-61 to COD18-67 from the November 2018 diamond drilling program on the COD Vein southern extension (GGX News Releases of January 9, and 11, 2019).
The recent analytical results are highlighted by a 7.28 meter interval which returned 129.1 g/t gold and 1,154.9 g/t silver in drill hole COD 18-67.
"It's very encouraging to see such promising results after all the hard work and effort from the all the parties involved. I would like to extend a special thanks to my longtime friend Al Beaton, who led us here in the first place and who's enthusiasm and passion for the mining business is absolutely contagious to all of us," Comments, Chris Anderson Ximen CEO
The 2018 drilling program consisted of 11 diamond drill holes targeting the southern extension of the COD Vein mineralization within 25 meters of previously drilled holes COD18-45 and COD18-46. These holes were drilled at 45 and 50 degree dips to the west from the same site and intersected high grade gold as highlighted below:
- COD18-45 intersected of 50.1 grams per tonne (g/t) gold and 375 g/t silver over 2.05 meter core length including 167.5 g/t gold, 1,370 g/t silver and >500 g/t tellurium over 0.46 meter core length (GGX News Release of August 15, 2018).
- COD18-46 intersected 54.9 g/t gold and 379 g/t silver over a 1.47 meter core length, including 223 g/t gold, 1,535 g/t silver and greater than 500 g/t tellurium over a 0.30 meter core length (GGX News Release of August 22, 2018).
Intersections exceeding 1 g/t gold for drill holes COD18-61 to COD18-67 are listed in the table below. Since true widths cannot be accurately determined from the information available the core lengths (meters) are reported.
|
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
Ag (g/t) |
Te (g/t) |
Description |
|
COD18-61 |
22.62 |
24.00 |
1.38 |
5.29 |
32.4 |
31.4 |
Quartz vein |
|
COD18-63 |
23.22 |
24.15 |
0.93 |
2.51 |
19.4 |
12.7 |
Quartz veins & altered granodiorite |
|
COD18-63 |
25.74 |
26.14 |
0.40 |
1.16 |
9.78 |
8.72 |
Quartz veins & altered wall rock. |
|
COD18-63 |
26.14 |
27.31 |
1.17 |
28.0 |
424.7 |
150.4 |
Quartz vein with local VG & tellurides |
|
COD18-63 |
incl. 26.72 |
27.31 |
0.59 |
49.7 |
787 |
245 |
Quartz vein with VG & tellurides |
|
COD18-64 |
30.10 |
30.40 |
0.30 |
3.04 |
24.6 |
31.3 |
Altered granodiorite |
|
COD18-66 |
16.35 |
16.75 |
0.40 |
1.02 |
6.22 |
3.46 |
Quartz veinlet & altered wall rock. |
|
COD18-66 |
22.96 |
23.90 |
0.94 |
6.97 |
46.8 |
34.4 |
Quartz vein |
|
COD18-67 |
23.19 |
30.47 |
7.28 |
129.1 |
1,154.9 |
|
Quartz vein with +/- tellurides |
|
COD18-67 |
incl. 23.58 |
23.95 |
0.37 |
106 |
1250 |
>500 |
Quartz vein with tellurides & VG |
|
COD18-67 |
incl. 24.50 |
27.63 |
3.13 |
232.1 |
2,001.1 |
>500 |
Quartz vein with +/- tellurides |
|
COD18-67 |
incl. 29.70 |
30.47 |
0.77 |
143 |
1,372.9 |
>500 |
Quartz vein with tellurides |
Holes COD18-61 to COD18-67 were drilled to the west and slightly northwest at dips of 45 to 60 degrees to intersect the approximately northeast striking COD vein.
Neil Froc, P.Eng., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
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 located in southern BC. Ximen`s two Gold projects are The Gold Drop Project and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine. Currently both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements. The option partners are making annual staged cash and stocks payments as well as funding the development of these projects.
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 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.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888,
Vancouver, B.C., V6C 3K4
SOURCE: Ximen Mining Corp.