Vancouver, B.C., April 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Ximen Mining Corp. (XIM.V) (FRA:1XMA) (XXMMF) (the “Company” or “Ximen”) is pleased to announce its Option Partner GGX Gold Corp (GGX:TSX.v), (GGXXF:OTCQB), (3SR2.F) has begun the spring 2019 diamond drilling program on the Gold Drop Property, located in Southern British Columbia.
The drilling program will focus on the C.O.D vein located in the Gold Drop Southwest Zone. The Company intersected near-surface, high-grade gold, silver and tellurium within the C.O.D vein during 2018 diamond drilling, including:
- COD18-67: 129 g/t gold, 1,154 g/t silver & 823 g/t tellurium over 7.28 meters core length.
- COD18-70: 107 g/t gold, 880 g/t silver & 640 g/t tellurium over 6.90 meters core length.
Ximen’s option partner is kicking off its 2019 exploration program with drilling on the C.O.D vein (C.O.D stands for “Continuation of Dentonia”; the Dentonia is another gold-quartz vein in the camp that was historically mined). The C.O.D vein was first targeted in 2017. Initial sampling of the vein justified follow-up trenching and drilling. In 2018, the drilling program followed on and included a series of holes drilled to the south of the C.O.D trench that successfully extended the vein for a total length of nearly 400 meters and intersected high grade mineralization. The assay results (please refer to the Company’s website for News Releases announcing these results) include the following highlights:
|Hole ID||Interval Length||Gold (gpt)||Silver (gpt)||Te (gpt)|
For 2019, the drilling will be initially aimed at extending and in-filling the ore shoot of high-grade gold-silver-tellurium mineralization that was intersected in 2018. Following this, the Everest vein to the south, and the C.O.D. extension to the north will be drill-tested.
The highlights of the 2018 diamond drilling program are drill holes COD18-67 and COD18-70 that intersected near-surface, high-grade gold, silver and tellurium in the southern extension of the C.O.D vein. COD18-67 intersected 129 grams per tonne (g/t) gold, 1154 g/t silver & 823 g/t tellurium over 7.28-meter core length while COD18-70 intersected 107 g/t gold, 880 g/t silver & 640 g/t tellurium over 6.90-meter core length (News Releases of January 11, January 18 and March 18, 2019). The C.O.D. vein system is open along strike and at depth.
No previous diamond drilling has been completed at the C.O.D. extension to the north. The 2018 trenching program exposed numerous vein showings with grab samples up to 15.45 g/t gold, 159 g/t silver Ag and 114.5 g/t tellurium. A chip sample (0.4 meters long) returned 21.7 g/t gold, 216 g/t silver and 149 g/t tellurium (News Release of February 27, 2019).
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.
Furthermore the company wishes to announce the addition of Mr. Lloyd Penner to the team, whom will be focusing on assisting the company with its future plans and aspirations towards developing its mining activities on its various assets.
Mr. Penner brings many years of experience and knowledge to the Company, as a large part of his 30 plus-year career has been spent in the exploration, development, and mining of western Canadian gold deposits, from the coastal mountains of British Columbia to the gold camps of northern Canada and as far as west Africa. His well-rounded skill set includes planning, project organization, surface infrastructure setup, and conventional underground mining. His mining career began developing the high grade, narrow veins of the Bridge River Valley of British Columbia in 1986. Notable projects to-date include the position of mine manager of the QR Mine in the British Columbia interior – a 1,000- tonne per day cyanide operation with multiple underground and open pit mines operating. Other projects include late stage exploration properties such as Selkirk Metals’ Ruddock Creek property, Imperial Metals’ Red Chris property, and Avion Gold’s production gold mine in Mali. His background includes more than eight years of management in development, exploration, and production in both Africa and British Columbia. Mr. Penner also has experience working in custom test mining and exploration management of a narrow vein gold project in British Columbia. He is familiar with current mining, government agencies, and environmental regulations in British Columbia, and holds current UG certifications. Mr. Penner’s knowledge and experience with the Kenville Gold Mine (having spent several years assessing it) and with other high grade vein properties like it makes him an integral component in the success of this venture as well should the company complete on the opportunity to acquire the Kenville Gold Mine.
To view the Original News release with pictures please go to the website or contact the company.
On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and Director
Investor Relations: Mr. William Sattlegger, 604-488-3900 ir@XimenMiningCorp.com
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 contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the completion of a proposed Offering and the use of the Offering proceeds to further explore of the Company’s Cerro Caliche project. 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 Company is not satisfied with its further due diligence investigations and possibility that the TSX Venture Exchange may not accept the proposed transaction. 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