Ximen’s Second Option Partner Locates Base Metal - Precious Metal Mineralization in Southeast Region of Treasure Mountain Silver Property, Southern British Columbia
Vancouver, B.C. – January 31, 2019 - Ximen Mining Corp. (TSX.v: XIM) (OTCQB:XXMMF) (the “Company” or “Ximen”) is pleased to announce its Option Partner New Destiny Mining Corp. has received the second batch of analytical results from the 2018 exploration program on the Company’s Treasure Mountain Silver Base Metal - Precious Metal Property, southern B.C. The results are for rock grab samples collected in the southeast region, including significant analyses for base and precious metals, tellurium and anomalous indium values. The first batch of 2018 sample analyses included significant gold analyses from the east-northeast regions. Rock sample highlights from the 2018 program include.
- 11.3 & 8.81 grams per tonne (g/t) gold in the east-northeast regions (News Release of July 26, 2018). Up to 1.45% zinc, 122 g/t silver, 0.87 g/t gold, 57 g/t tellurium and 12.3 g/t indium in the southeast region.
The Treasure Mountain Silver Property partially surrounds the Treasure Mountain Property of Nicola Mining Inc. which hosts polymetallic veins and the historic Treasure Mountain silver-lead-zinc mine (TSXV:NIM). The Treasure Mountain Silver Property is also located approximately 37 kilometers southwest of the Shovelnose Gold Property of Westhaven Ventures Inc. (TSXV: WHN). Westhaven Ventures recently reported a diamond drill intersection of 8.95 g/t gold and 65.47 g/t silver over 46.2 meters (core length) at the Shovelnose Property.
The Treasure Mountain Silver Property hosts multiple occurrences of silver, gold, lead, zinc and / or copper; and two copper - molybdenum occurrences. Copper and nickel mineralization is also reported locally in the northern region of the property.
The second batch of analytical results are for 2018 rock samples collected in the southeast region of the Treasure Mountain Silver Property. The Rio Grande gold-silver-zinc-lead occurrence is reported in this region of the property. An area of sulfide mineralization in outcrop was located during the 2018 program northwest of the reported location of the Rio Grande occurrence. Outcrop grab samples returning higher values for various metals from this area include:
Samples 118816 and 118817 are from a massive sulfide vein exposure. The vein at this exposure is approximately 10-15 centimeters wide, striking northeast-southwest. Samples 118815 and 118818 were from sulfide bearing sheared exposures.
New Destiny also conducted trenching during 2018 in the southeast region of the property. Numerous outcrop grab samples from one trench returned anomalous gold values. This included three samples returning 0.877, 0.46 and 0.359 g/t gold. The host rock in this trench is a pyrite bearing schistose rock.
The 2018 rock samples were analyzed at ALS Canada in North Vancouver. The samples were analyzed for gold by Fire Assay - Atomic Absorption (AA) and for 48 elements by ICP-MS. Samples over the upper limits for silver and / or zinc were re-analyzed for these elements by four acid ICP-AES.
Some highlights of reported historic work within the Treasure Mountain Silver Property include (as per British Columbia MINFILE and Mineral Assessment Report Records):
- Rainy (Cedarflat) occurrence (north-central region): 2011 grab samples from rock piles near an adit were reported to return 6.5, 7.4 and 11.9% zinc.
- Spokane (northeast region near Jim Kelly creek): A sample reported in 1913 of 4.11 g/t gold over 0.9 meters across the zone.
- John Bull (northeast region near Jim Kelly creek): A channel sample reported in 1937 of 9.6 g/t gold over 0.18 meters across a quartz vein.
- Railroad creek area copper showing (east region north of Railroad creek): Two 2011 grab samples from rock piles near adits were reported to exceed 1% copper and up to 76.4 g/t silver.
- Rio Grande (southeast region): A 1.5 meter chip sample across a shear zone was reported in 1929 to return 1.2% zinc.
Readers are warned 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.
Allan Beaton P.Eng., a Qualified Person as defined by NI 43-101, is responsible for 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
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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