Vancouver, British Columbia--(Newsfile Corp. - November 7, 2024) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC Pink: XXMMF) (the "Company" or "Ximen") announces the completion of the hole 6 of its active drill program at the Brett epithermal gold project, near Vernon in southern BC.
B24-06 was drilled from the same collar and azimuth as B24-05 but steeper at -65 degrees to the northeast to intersect the West Zone breccia intersected in the top of hole 5 (see Figure 1).
Figure 1. Plan view of hole B24-06 (left) and cross-section (right)
Hole was drilled to test the mineralized breccia intersected near the top of in hole 5
B24-06 intersected a zone of argillic alteration with abundant iron oxide from 3.0 to 6.4 m that is barren of sulfide mineralization due to near-surface oxidization. A mineralized breccia zone was intersected from 12.27 to 26.45 (14.18m) that contains 5-10% pyrite associated with a stockwork of silica veinlets and silica cemented breccia. Below that, several intensely silicified zones with pyrite were intersected, including 29.22-32.49 (3.27m), 42.17-43.50 (1.33m), 52.71-57.95 (5.24m), 62.47-64.06 (1.59m), 69.00-80.90 (11.9m), and 83.17-89.61 (6.44m). Pyrite content ranges visually between 3 and 20% in these zones and occurs as disseminations, fracture fillings and veinlets, and as selective replacement of volcanic fragments. A total of 43.95 meters of mineralized core was intersected (excluding the leached argillic zone at the top of the hole), amounting to 39.5% of the entire hole. Total hole depth was 111.0m.
The initial oxide zone intersected in hole B24-06 correlates with weathered and argillic altered volcanic rock in the first 15 meters of hole 5. The silica stockwork and mineralized breccia in hole 6 correlates with the breccia in hole 5 intersected between 18.0 and 24.63 meters and is part of the West Zone. The lower altered zones intersected in hole 6 may also be part of the West Zone. Hole 7 will be drilled from the same collar location as Hole 6 but directed southwesterly to test the extent of the West Zone towards the west.
The Brett project (20,043 hectares) covers low-sulfidation epithermal-style gold mineralization hosted in Eocene Penticton Group volcanic rocks. Epithermal-style gold mineralization was discovered in 1983, and a 291 tonne surface bulk sample was shipped to the smelter at Trail, BC in the 1990's that averaged 27.74 grams per tonne gold and 63.7 grams per tonne silver (Brett 2017 NI 43-101 report). Multiple zones of mineralization occur over a two kilometer strike, including both bulk-mineable and bonanza high grade styles. Ximen conducted LiDAR and airborne magnetic surveys over parts of the Brett property in 2022. Interpretation, 3D modeling, and target refinement were then completed in preparation for the 2024 drilling program.
The overall objective of the drill program is to extend the Main Zone to the southeast and at depth, and to test altered zones that border and parallel the Main Zone.
Map showing Mineralized Zones at the Brett Project
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.sedarplus.ca 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
