Vancouver, B.C., September 22, 2020 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce it mobilized equipment and started exploration drilling and trenching on its Providence property near Greenwood in southern British Columbia.
“ Ximen Mining has amassed a significant amount of Precious Metals properties in southern BC and has now positioned itself to be among one of the largest land holders of premium Precious metals exploration properties in southern BC. Ximen also owns all of these assets 100% and is not beholden to any property payments. Ximen has also obtained 100% ownership of surface rights and land holdings in key areas strategic to the advancement of our operations.
So while we are pleased with the progress and continue to address the new regulatory obligations that are essential to continue focusing on the advancement of the Kernville Gold Mine towards production, it is important that we also address the blue sky potential of the prolific precious metals assets we have assembled in the Company. Hence we have been busy on serval fronts and now will commence drilling on several projects the Providence being one of the first. “
States Anderson , CEO Ximen Mining Corp/
To follow-up on groundwork conducted earlier this field season, Ximen has started its drilling and trenching program aiming at two targets on the Providence property. The first target is an historic mine adit, where a polymetallic silver-gold vein was mined historically. An excavator is being used to expose the mine entrance (see photos below). Ximen previously obtained an assay of 3.87 g/t gold and 100 g/t silver from vein material sampled from the waste dump. This could be a strike continuation of the main historic Providence mine. Minfile records indicate 1,368,075 ounces of silver, 5,896 ounces of gold, 402,690 pounds lead and 260,086 pounds of zinc were recovered from the Providence mine from 10,426 tonnes mined. Using these figures, the calculated precious metal grades would be 4,081 g/t silver (119 ounces per ton) and 17.6 g/t gold (0.51 ounces per tonne).
Providence Target No. 1: Photo of excavator trenching historic mine entrance.
The second target is aimed at a showing of massive sulphide vein or skarn mineralization for which a previous grab sample assayed 0.23% copper and 3.4 g/t silver. There is an historic shaft on this zone.
Providence Target No. 2: Left photo: Inspecting Drill Core
Right photo: massive sulphide from shaft dump.
Prospecting was also done in other areas of the claims earlier this field season with rock chip samples collected from historic mine dumps and rusty, altered outcrops. Assay results for these samples are pending.
Elsewhere in the Greenwood area, prospecting and rock chip sampling were done at the Bud-Elk and Amelia properties. At Bud-Elk, altered rocks containing up to 5% disseminated pyrite and chalcopyrite were sampled to verify results reported by previous operators. Pending favourable results, drilling will be planned for next season. At Amelia, field work included visiting sites of historic underground workings and grab sampling dumps or scattered quartz vein material at reclaimed sites. Mineralized samples consisted of quartz containing pyrite and chalcopyrite, or galena were collected for assay (results pending). A 3D mine model was created, which formed the basis for design of a surface drilling program designed to test for extensions of the Caribou Amelia mine.
Analyses disclosed in this release were conducted by ALS Global – Geochemistry Analytical Lab in North Vancouver, BC, Canada. ALS is an independent, fully accredited commercial laboratory. Gold was determined by the fire assay method using a 50 gram sample weight. Other metals were analyzed as part of a 33-element package using a four acid digestion and determination by ICP-AES.
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.
The Company has granted 2,000,000 stock options at an exercise price of $0.50 to its directors, officers, employees and consultants. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the Company. The stock options are not transferable and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in all three of its precious metal projects located in southern BC. Ximen`s two Gold projects are The Gold Drop Project and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine. Currently, both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements. The option partners are making annual staged cash and stocks payments as well as funding the development of these projects. The company has recently acquired control of the Kenville Gold mine near Nelson British Columbia and The Amelia Gold Mine in the center of the McKinney Gold Camp.
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 completion of a proposed Offering and the use of the Offering proceeds to further explore the Company’s projects. 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.