Ximen Reviews 2018 Exploration Season at the Gold Drop Property
Vancouver, B.C. – February 27,2019 - Ximen Mining Corp. (TSX.v: XIM) (OTCQB:XXMMF) (the “Company” or “Ximen”) is pleased to recap highlights of the 2018 exploration season on its 100% owned Gold Drop Property located in Southern British Columbia, under option to GGX Gold Corp. (TSX.v:GGX). The program focused on the C.O.D vein, located in the Gold Drop Southwest Zone. The following highlights are summarized from previous news releases:
- Completed 71 diamond drill holes on the C.O.D vein. High-grade intersections include 129 g/t gold and 1,154 g/t silver over 7.28 meter core length and 107.5 g/t gold and 880 g/t silver over 6.90 meters core length (News Releases of January 11 & 18, 2019).
- Mining.com lists GGX drill intercept #7th best worldwide to date for 2019
- Extended the C.O.D vein 160 m to the southwest by means of drilling
- Completed 19 diamond drill holes on the Everest vein
- Discovered the southern extension of the Gold Drop vein by means of mechanical trenching
- Completed 30 m of trenching on the Silent Friend Vein
- Completed thorough trenching program in the C.O.D North region of the property
Picture: First C.O.D Vein discovery and sample, May 2017
The Gold Drop Property covers 5,628 hectares of geologically prospective ground in the well-mineralized Greenwood District, and hosts 8 or more known low-sulfide, gold-bearing veins or vein systems. These historical showings have had limited modern exploration. Recently, the Greenwood area has had a renewed interest by major and junior companies exploring precious and base metals in the district.
The 2018 diamond drill program focused on the C.O.D vein. The vein was first identified to be a target of interest in the spring of 2017. Following initial sampling of the vein, mechanical trenching and drilling was undertaken. The results of the 2017 program were encouraging and the Company launched a winter drill program in 2018. The program followed up on the 2017 drilling. Additional diamond drilling during the fall of 2018, completed a series of exploration holes south of the C.O.D trench. Here the holes intercepted the vein, successfully extending the vein by 160 meters.
During 2018 a total of 71 diamond drill holes were completed on the C.O.D vein structure and 19 diamond drill holes were completed on the Everest vein for a total of 5,616 meters of drilling. The highlights of the program are COD18-67 that intersected 129 grams per tonne (g/t) gold and 1,154 g/t silver over 7.28 meters core length and COD18-70 which intersected 107.5 g/t gold and 880 g/t silver over 6.90 meters core length. The highlights of the drilling are listed in the following table.
Note: Due to some tellurium drill core analyses being greater than the upper analytical limit of 500 g/t the weighted average value for tellurium could not be calculated for some intervals.
The 2018 trenching program was completed on targets located during the 2017 soil geochemical sampling program. The most significant discovery during the trenching is the southern extension of the historic Gold Drop Vein. Historic production from the Gold Drop Vein System is reported to be 335 tonnes mined during 1926-1988 (mainly during 1933-1941) with 5,020 grams of gold (14.99 g/t gold) and 35,894 grams of silver (107.1 g/t silver) recovered. Grab samples collected from this vein during 2018 assayed up to 3.37 g/t gold and 43.9 g/t silver.
A thorough trenching program in the C.O.D North area was also completed. This area is located approximately 600m to the north of the C.O.D drilling worksite. Trenching was conducted on targets identified during the 2017 soil geochemical sampling program.
Several quartz vein outcroppings were located and sampled in the trenches. The highlights include grab sample 112753 of rusty quartz vein that assayed 15.45 g/t gold, 159 g/t silver and 114.5 g/t tellurium; and sample 112759, a chip sample across a 40 centimeter wide northeast-southwest striking sub-vertical quartz vein, that assayed 21.7 g/t gold, 216 g/t silver and 149 g/t tellurium. The table below outlines the chip sample assays obtained.
30 cm chip
40 cm chip
30 cm chip
30 cm chip
40 cm chip
Details of the analytical procedures and QA/QC methods used are given in previous news releases from which these highlights are drawn.
Ximen is very pleased with the results obtained during the 2018 season. Plans are being finalized for 2019 and everyone at the Company is excited for the 2019 field season!
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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