Vancouver, B.C., March 17, 2021 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce that it has completed its airborne geophysical survey at Greenwood in southern British Columbia.
The helicopter-borne VTEM™ and magnetics survey has now been completed over the Providence and Bud-Elk properties. The survey results are expected to be delivered within weeks and will be used to guide the Company’s 2021 exploration programs. The survey is expected to outline conductive bodies related to massive sulphide occurrences, magnetic bodies related to skarn bodies and related magnetic intrusions and will guide the interpretation of geological features related to vein-type mineralization.
Massive sulphide, pit. 0.23% copper & 3.4 g/t silver
Vein quartz from historic mine 3.87 g/t gold and 100 g/t silver
Ximen’s Providence property covers several mineral occurrences and historic mines including the Freemont mine, where 2020 sampling returned values of 435 grams per tonne silver (12.7 ounces per ton) and 4.4 grams per tonne gold, with 0.22% lead (see release dated Oct 19, 2020). The property also contains massive sulphide mineralization that previously assayed 0.23% copper and 3.4 g/t silver (2018 grab sample). In addition, drilling by Ximen in 2020 on its ground adjoining the historic Providence mine intersected 178 grams per tonne silver over 0.7 meters (see news release dated February 22). This suggests a possible extension of the Providence deposit onto Ximen’s property. The historic Providence silver mine has recoded production of 1,368,075 ounces of silver, 5,896 ounces of gold, 402,690 pounds lead and 260,086 pounds of zinc from 10,426 tonnes mined (BC Minfile records).
Ximen’s Bud-Elk property covers the historic Morrison mine, which produced 7.15 kilograms of gold, 26.0 kilograms of silver and 10.7 tonnes copper from 2,647 tonnes (calculated grades are 2.7 grams per tonne gold, 9.8 grams per tonne silver and 0.4% copper). The property also lies 500 metres from the historic Motherlode mine, which produced 21,405,520 grams of silver, 5,390,837 grams of gold, and 34,915,323 kilograms of copper from 4,245,875 tonnes mined (BC Minfile). The Motherlode and Morrison are classified as skarn-type copper-gold deposits.
Porphyry copper-gold mineralization occurs at the Buckhorn and Moreen showings on the Bud-Elk property, as demonstrated by results from previous owners including 45.0 metres grading 0.57% Cu and 0.40 g/t Au from trenching at the Buckhorn, and 32 metres grading 0.23% Cu and 0.12 g/t Au at the Moreen.
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,
President, CEO and Director
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 are 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 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.