Ximen Concludes 2023 Drilling at Amelia Gold Project
Camp McKinney, BC
VANCOUVER, BC / ACCESSWIRE / November 29, 2023 / Ximen Mining Corp. (TSX.v:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") announces that has completed its drill campaign for 2023 and demobilized equipment from the Amelia Gold project in Camp McKinney near Rock Creek in southern BC. The outdoor temporary camp was disassembled and demobilized with the onset of winter conditions.
The Cariboo-Amelia mine was BC's first dividend paying gold mine. Over its 68-year history, the mine produced 81,602 ounces of gold and 32,439 ounces of silver from 112,254 tonnes milled (BC Minfile Records).
The mine is part of a 4-kilometer long system of gold-quartz veins and historic workings. Ximen is planning to continue testing this system, working outwards from the mined area.
Ximen completed eight NQ-size drill holes for a total of 2,064 meters testing the down-dip extension of the historic Cariboo-Amelia gold mine. The target vein was intersected in five holes (AM23-01, 3, 5, 7 and 8) between 30 and 45 meters below the lowest mine level and over a strike length of 150 meters.
The mineralized intercepts contain pyrite, sphalerite, galena +/- chalcopyrite and pyrrhotite. Hole AM23-07 intersected multiple zones. Hole AM23-08 intersected the vein within mineralized quartz stringer alteration zone. The vein consisted of "blue quartz" containing fine grained pyrite. The "blue quartz" is a local mine term for grey quartz that typically contains gold. Visible gold hasn't been observed, but this sulphide mineral assemblage is the same as that reported to occur in the vein where it was mined historically. Core samples will be sent for analysis once the sampling is completed.
Hole | From | To | Length (m) | Mineralization |
AM23-01 | 218.02 | 218.63 | 0.61 | Quartz Vein with Py, Sp, Gn, Cp |
AM23-03 | 230.80 | 231.06 | 0.26 | Quartz Vein with Py, Sp, Gn, Cp |
AM23-05 | 214.55 | 215.25 | 0.70 | Quartz Vein with Py, Sp, Cp |
AM23-07 | 194.60 | 194.81 | 0.21 | Quartz Vein with Py, Sp, Gn |
AM23-07 | 195.71 | 195.99 | 0.28 | Quartz Vein with Py, Po, Sp, Gn |
AM23-07 | 215.47 | 215.66 | 0.19 | Quartz Vein with Py, Sp, Gn |
AM23-07 | 217.64 | 217.76 | 0.32 | Quartz Vein with Py, Po, Sp, Gn |
AM23-08 | 198.60 | 198.95 | 0.35 | Quartz Stringers, Py,Sp,Gn,Cp |
AM23-08 | 198.95 | 199.45 | 0.50 | Quartz Vein with Py |
AM23-08 | 199.45 | 200.00 | 0.55 | Quartz Stringers, Py,Sp,Gn,Cp |
Abbreviations: Py: pyrite, Sp: sphalerite, Gn: galena, Cp: chalcopyrite; Po: pyrrhotite
Note: Reported lengths are core lengths not true widths.
Core Photos:
Holes AM23-03, 04, 05 and 08 intersected a second mineralized vein about 50 meters south of the main vein that is also mineralized with sulphide minerals typically associated with high gold grades.
Holes AM23-02, 04 and 06 targeted the zone at greater depths but did not intersect the vein. It is likely that the vein has been displaced by faults similar to those which occur in the upper levels of the mine, where the vein is displaced a relatively short distance to the south by flat lying faults.
Overall, the results indicate there is excellent potential for more tonnes to be mined below the lowest level of the mine workings and that there is potential for additional material in parallel zones. A better understanding of the vein system has been gained, which will be used to select additional targets along strike.
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
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: 604-488-3900, ir@XimenMiningCorp.com
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 an 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 also 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 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
SOURCE: Ximen Mining Corp.
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