Re-Analyses of 2018 Drill Core Samples Return up to 3,860 G/T Tellurium at the C.O.D. Vein for Ximen Option Partner
Southern British Columbia
Vancouver, B.C. – March 18, 2019 - Ximen Mining Corp. (TSX.v: XIM) (OTCQB:XXMMF) (the “Company” or “Ximen”) is pleased to announce its option partner GGX Gold Corp. (TSX.v:GGX) has received tellurium analytical results for select drill core samples from the Fall 2018 diamond drill program at the Gold Drop Property, located in southern British Columbia. The re-analyses confirm high-grade tellurium for these drill holes, associated with high-grade gold and silver (gold and silver results reported in News Releases of January 14 (XIM) and January 18 (GGX):
- COD18-67: 129 g/t gold, 1154 g/t silver & 823 g/t tellurium over 7.28-meter core length
- COD18-70: 107 g/t gold, 880 g/t silver & 640 g/t tellurium over 6.90-meter core length
The drill program was conducted at the C.O.D. Vein, located in the Gold Drop Southwest Zone. The tellurium results are from re-analyses of drill core samples from drill holes COD18-67 and COD18-70 which initially exceeded the upper analytical limit for tellurium at 500 grams per tonne (g/t).
The 2018 Fall diamond drill program tested the COD vein. The program followed up on results from previous 2018 diamond drilling at the southern extension of the COD vein. The highlights of the 2018 Fall drill program are drill hole COD18-67 which intersected 129.1 g/t gold and 1,154 g/t silver over 7.28 meters core length and drill hole COD18-70 which intersected 107.5 g/t gold and 880 g/t silver over 6.90 meters core length (XIM News Release of January 14 and GGX News release for January 18, 2019). Both holes were drilled north-northeast from the same site (COD18-67 at a 50-degree inclination and COD-18-70 at a 54-degree inclination) to intersect the northwest trending COD Vein at a shallow angle, with the objective of testing the continuity of the quartz vein and mineralization.
Fourteen drill core samples from the high-grade gold and silver intersections of drill holes COD18-67 and COD18-70 returned greater than the upper analytical limit of 500 g/t for tellurium during initial analysis (four acid ICP-MS analysis by ALS Canada Ltd., North Vancouver, BC; ALS is an independent, accredited commercial laboratory). As a result, the weighted average grades for tellurium in these intersections could not be determined from initial analyses. ALS Canada Ltd. recently re-analyzed these 14 samples for tellurium by four acid ICP-AES. The new analytical results confirm high grade tellurium within the high-grade gold and silver intersections. For hole COD18-67, the near-surface interval of 23.19-30.47m (7.28 meters core length) graded 823.4 g/t tellurium. For hole COD18-70, the near-surface interval of 22.57-29.47m (6.90 meters core length) graded 640.5 g/t Tellurium. Tellurium ranged up to 3,860 g/t for individual samples (core lengths) as shown in the following table:
In the C.O.D vein system, tellurium occurs in a soft silver-grey telluride mineral (photos below). Whenever this mineral is observed in the drill core, the interval has elevated silver, gold and tellurium values. This telluride mineral is likely a Silver-Tellurium-Gold alloy named Sylvanite (Ag,Au)Te2.
Significant intersections for 2017 and 2018 diamond drill holes at the C.O.D. vein include the following (please refer to the Company’s website for News Releases announcing these results):
Interval Length (m)
The interval lengths reported above for the drill may be different from true widths. There is insufficient information at this time to accurately estimate the true width of the zone.
Tellurium is one of the rarest elements on earth. Global production is limited, estimated to being on the order of 800 metric tonnes per year. Up to recently, the sole use of tellurium has been alloying of other metals to increase the machinability of copper or to decrease the corrosive action of sulfuric acid on lead.
The most significant modern use of tellurium is the Cadmium-telluride (Cd-Te) photovoltaic solar cells. These solar cells are the forefront of solar power. One gigawatt (GW) of Cd-Te, at current efficiencies, would require approximately 93 metric tons of tellurium. These cells have the smallest carbon footprint and the shortest energy payback time of all solar cells. The efficiency of technology is constantly improving and the Cd-Te now takes up 5.1% of worldwide PV production.
Tellurium minerals are known to occur in Au-Ag deposits but were not considered important exploration targets in the past. Historically, tellurium production has mainly been a by-product of copper production. More recently, increased demand for use in solar cells has led to mines where tellurium is the primary economic component (China), and economic evaluations of tellurium contained in gold-silver deposits elsewhere.
PHOTOVOLTAICS REPORT, Freiburg, 27 August 2018
Allan Beaton, P.Eng., a Qualified Person as defined by NI 43-101 and member of the Advisory Board, is responsible for and approved the technical information contained in this News Release.
To view the Original News release with pictures please go to the website or contact the Company.
On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and Director
Ximen Mining Corp. 604 488-3900
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent 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.
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 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. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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
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