Vancouver, B.C., December 13, 2019 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen” - http://www.commodity-tv.net/c/mid,2697,Company_Presentation/?v=298917) is pleased to announce assay results from holes drilled this season by its option partner GGX Gold Corp. at the Gold Drop property in the Greenwood Mining Camp.
This year, a total 49 holes (3,160 metres) were drilled in to test the C.O.D. and C.O.D. North veins, and 719 metres in Hole AMT19-01 to test a large geophysical anomaly. Holes COD19-34 to 43 were drilled on the C.O.D. North Vein. Significant results for samples collected from holes COD19-28 to COD19-48 are provided in the tables below.
Of the 21 holes reported, eight holes intersected significant gold mineralization, and eight of the intercepts graded better than 15 grams per tonne gold with elevated silver (up to 796 grams per tonne Ag) and tellurium values (up to 700 grams per tonne Te). One of the holes on the C.O.D North vein intersected significant gold mineralization. The results provide further confidence in the potential for economic mineralization in the COD veins at the Gold Drop property, and the results add to the list of mineralized intercepts disclosed previously.
Hole | From | To | Length (m) | Gold (g/t) | Silver (g/t) | Tellurium (ppm) | Description |
COD19-29 | 41.24 | 41.88 | 0.64 | 3.98 | 38.3 | 23.0 | Quartz vein, pyrite |
COD19-29 | 43.61 | 44.00 | 0.39 | 8.74 | 94.7 | 55.1 | Quartz veinlet + altered rock |
COD19-30 | 40.36 | 40.85 | 0.49 | 42.00 | 465.0 | 403.0 | Quartz vein, pyrite, telluride |
COD19-30 | 40.85 | 41.43 | 0.58 | 9.60 | 107.0 | 76.5 | Quartz vein, pyrite, telluride |
COD19-31 | 36.45 | 36.98 | 0.53 | 20.90 | 220.0 | 163.0 | Quartz vein, pyrite |
COD19-31 | 36.98 | 37.45 | 0.47 | 17.80 | 160.0 | 132.5 | Quartz vein, pyrite, telluride |
COD19-38 | 36.05 | 36.49 | 0.44 | 5.65 | 38.8 | 26.3 | Quartz veinlet + altered rock |
COD19-38 | 36.49 | 36.80 | 0.31 | 1.11 | 7.6 | 5.5 | altered rock, pyrite |
COD19-38 | 38.39 | 38.71 | 0.32 | 58.30 | 384.0 | 355.0 | Quartz vein, pyrite, telluride |
COD19-45 | 49.45 | 50.00 | 0.55 | 21.20 | 224.0 | 133.5 | Quartz vein, pyrite, telluride |
COD19-45 | 50.00 | 50.50 | 0.50 | 9.70 | 69.4 | 48.3 | Quartz vein, pyrite |
COD19-45 | 50.50 | 51.00 | 0.50 | 2.30 | 23.9 | 13.9 | Quartz vein, pyrite |
COD19-45 | 51.00 | 51.44 | 0.44 | 2.65 | 75.1 | 26.9 | Quartz vein, pyrite |
COD19-46 | 32.52 | 33.00 | 0.48 | 41.20 | 431.0 | 314.0 | Quartz vein, pyrite, telluride |
COD19-46 | 33.00 | 33.50 | 0.50 | 84.70 | 769.0 | 700.0 | Quartz vein, pyrite, telluride |
COD19-47 | 29.74 | 30.09 | 0.35 | 74.90 | 796.0 | 700.0 | Quartz vein, gold, pyrite, telluride |
COD19-48 | 27.54 | 28.00 | 0.46 | 7.88 | 78.0 | 54.4 | Quartz vein, pyrite |
Abbreviations: m=meters, g/t = grams per tonne, ppm = parts per million (equivalent to grams per tonne)
Note: The lengths reported in the table above are core interval lengths and not true widths. There is insufficient information at this time to estimate true widths.
The weighted average grades for the intercepts in holes 30, 38, 45, and 46 are as follows:
Hole | From | To | Length (m) | Gold (g/t) | Silver (g/t) | Tellurium (ppm) | Description |
COD19-30 | 40.36 | 41.43 | 1.07 | 24.44 | 270.9 | 226.0 | Quartz vein, pyrite, telluride |
COD19-38 | 36.05 | 36.80 | 0.75 | 3.77 | 25.9 | 17.7 | Quartz veinlet + altered rock |
COD19-45 | 49.45 | 51.44 | 1.99 | 9.46 | 102.0 | 58.5 | Quartz vein, pyrite, telluride |
COD19-46 | 32.52 | 34.00 | 1.48 | 42.81 | 404.8 | 342.8 | Quartz vein, pyrite, telluride |
Analytical results reported above were provided by ALS Laboratories in North Vancouver, BC., which is an independent and accredited commercial laboratory. Analyses for gold were done by fire assay with AA finish on 50 gram sub-samples, or by metallics sieve analyses. Analyses for silver and tellurium were by four acid digestion with ICP-MS finish. Silver results greater than 100 ppm, and Tellurium results greater than 500 ppm, were reanalyzed using a four-acid digestion and ICP-AES or AAS finish on a 0.4g sub-sample. Quality control was monitored using analytical results for reference standards and blank samples inserted into the sample stream at a frequency of 5% each.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved 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
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 a 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 recently 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 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
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