VANCOUVER, British Columbia, June 10, 2022 (GLOBE NEWSWIRE) -- Ximen Mining (TSXV:XIM) (OTCQB:XXMMF) (FSE:1XMA) plans to begin drilling this month at its Amelia gold property in southern British Columbia. The Amelia gold property, located near Mt. Baldy in southeastern British Columbia, is within trucking distance of a gold processing facility at Greenwood.
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Ximen now controls over 21,450 hectares of mineral properties in the Greenwood Mining Camp. The Amelia gold property is located west of Rock Creek and consists of 3,425 hectares of claims surrounding the historic Cariboo-Amelia gold mine.
Historic production was 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc. The average recovered gold grade was 24.68 grams per tonne gold.
The Amelia drill permit is for a total of 38 drill sites, with 19 sites approved for the first year. Multiple holes can be drilled from each of the sites, so the permit allows for approximately 11,400 meters to be drilled this year. Drill holes are planned initially to test at depth below the mine, followed by testing for an extension of the veins to the east. In October 2020, the company reported results from a total of 34 rock chip grab samples, with 10 of the samples returning significant gold results, as high as 103 grams per tonne, 3 of which also returned significant silver results.
Ximen is continuing to advance its conceptual fast-track development schedule for the Kenville Bulk Sample. Initially, Micon will create a resource estimate for the new decline project to support plans for a 10,000-tonne bulk sample. This new resource estimate, focused on areas not previously reported on in earlier historic mineral resource estimates, will be the basis for a new NI 43-101 resource estimate.
In 2009, the previous operator produced a NI 43-101 report, now historic, based on detailed sampling conducted within the mine which disclosed a Measured and Indicated resource estimate of 16,289 ounces and an Inferred resource estimate of 356,949 ounces gold.
Since the acquisition of the Kenville Gold Mine, Ximen has continued to expand its holdings in the area and has been submitting applications for exploration permits for the California and other areas surrounding the Kenville mine property. In addition to the 100% owned Kenville and Amelia Gold Mines, Ximen Mining also owns 100% interest in 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, with the option partner making annual staged cash and stocks payments as well as funding the development of the project.
Ximen’s shares are trading at $0.115. For more information, please visit the company’s website, www.XimenMiningCorp.com, contact Christopher R. Anderson, President and CEO, at 604-488-3900. For Investor Relations, contact Sophy Cesar, at 604-488-3900 or by email at ir@XimenMiningCorp.com.
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