Vancouver, British Columbia--(Newsfile Corp. - November 20, 2024) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") is pleased to provide a summary of results from its drilling program at the Amelia Gold project in Camp McKinney near Rock Creek in southern BC.
Figure 1. Longitudinal view of Cariboo-Amelia mine showing vein model and drill holes (looking North)
Drilling was done to test the extension of the historic Cariboo-Amelia gold mine in Camp McKinney in the Greenwood Mining Division, BC. The Amelia Gold mine drilling program was completed late last year, and core sampling and analyses were done this year. Eight NQ-size drill holes were completed for a total of 2,064 meters. The target vein was intersected in five holes (AM23-01, 3, 5, 6, 7 and 8) between 30 and 45 meters below the lowest mine level and over a strike length of 150 meters (Figure 1). Highlights of analytical results, recently received, are provided in the table below.
The best result was from hole AM23-03, which intersected 16.3 grams per tonne gold and 79.9 grams per tonne silver, with 1.88% lead and 1.05% zinc, over a length of 0.26 meters. Elevated silver intercepts were obtained in holes 07 and 08, and elevated lead and/or zinc were intercepted in holes 06, 07 and 08. The holes with elevated pathfinder elements Ag, Pb and Zn indicate that the gold mineralized zone was likely intersected. The lower gold values in these holes could be a product of a nugget effect due to coarse grained gold, which is characteristic of this type of orogenic gold-quartz vein deposits.
Hole
From (m)
To (m)
Length (m)
Gold (g/t)
Silver (g/t)
Lead (%)
Zinc (%)
Description
AM23-01
218.02
218.63
0.61
2.78
3.03
0.06
0.05
Quartz Vein with Py, Sp, Gn, Cp
AM23-03
230.8
231.06
0.26
16.30
79.90
1.88
1.05
Quartz Vein with Py, Sp, Gn, Cp
AM23-05
214.54
215.25
0.71
<0.01
0.02
0.00
0.01
Quartz Vein (blue quartz) with Py
AM23-06
143.91
144.21
0.30
1.64
2.04
0.10
0.17
Quartz Vein with Py, Sp, Gn
AM23-07
194.43
194.93
0.50
0.03
4.02
0.20
0.55
Quartz Vein with Py, Sp, Gn
AM23-07
194.93
195.73
0.80
0.01
1.52
0.00
0.43
Chert with Quartz Veinlets, Py
AM23-07
195.73
196.21
0.48
0.29
52.10
3.40
1.10
Quartz Vein with Py, Po, Sp, Gn
AM23-08
198.6
198.95
0.35
0.94
16.15
0.58
0.96
Quartz Veinlets, Py,Sp,Gn,Cp
AM23-08
198.95
199.45
0.50
1.09
1.26
0.00
0.00
Quartz Vein with Py
AM23-08
199.45
200
0.55
1.20
4.81
0.08
0.41
Quartz Veinlets, Py,Sp,Gn,Cp
Results for Amelia Gold Property 2023 Drill Holes
Abbreviations: m-meters, g/t = grams per tonne, % = percent, Py = pyrite, Sp = sphalerite, Gn - galena, Po = pyrrhotite. Lengths are core length not true width; true width cannot be determined at this time.
Overall, the results are positive and indicate that the McKinney vein and gold mineralization persists to the east and to depth from the areas mined historically. Additional drilling is being planned to test the eastern and western extents of the vein system and to test for parallel veins.
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 situated within a 4-kilometer system of gold-quartz veins and historic workings.
Drill core showing vein intercept in Hole AM23-03 with vein (top) and close-up showing pyrite, galena, sphalerite and chalcopyrite mineralization (bottom)
Overall, the results are positive and indicate that the McKinney vein and gold mineralization persists to the east and to depth from the areas mined historically. Additional drilling is being planned to test the eastern and western extents of the vein system and to test for parallel veins.
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 situated within a 4-kilometer system of gold-quartz veins and historic workings.
Map view of Amelia project showing 4 kilometer extent of gold-quartz vein system
Drill core was logged for geological features on-site and half-core samples were cut and bagged at a core facility located in Greenwood, BC. Sealed bags of sample were then delivered to the laboratory by company representatives. The analyses quoted above were performed by ALS Laboratories in North Vancouver, BC., which is an independent ISO certified and accredited commercial laboratory. Analyses for gold in rocks and drill core were done by fire assay with AA finish (Atomic Absorption Spectrometry) on 30 gram subsamples (ALS code Au-AA25). Analyses for silver, copper, lead and zinc and 44 other elements was completed by four acid digestion with ICP-MS (Inductively Coupled Plasma - Mass Spectrometry) finish (typically a 0.25 gram sub-sample) following ALS code MEMS-61. Quality control was monitored from the results for certified reference standards and blank material that were inserted into the sample stream at a frequency of every 20 samples each.
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
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 1XM 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
