VANCOUVER, British Columbia, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Ximen Mining (TSXV:XIM) (OTCQB:XXMMF) (FSE:1XMA) completed airborne LIDAR and Magnetic surveys during its 2022 field season at its Amelia 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. It covers historic Camp McKinney and the Cariboo-Amelia gold mine.
A Media Snippet accompanying this announcement is available by clicking the image or link below.
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Ximen” in the search box.
The Cariboo gold vein was discovered in 1887. Production at the mine started in 1894 and continued until 1903. The vein terminated to the east in a fault. In 1957, an extension was discovered by surface diamond drilling and the mine was reactivated, with production continuing until 1962.
According to BC Minfile documents, the Cariboo-Amelia mine produced 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc from 112,254 tonnes milled, with the average recovered gold grade reported as 24.68 grams per tonne gold.
The general area, originally known as Camp McKinney, is host to fifteen polymetallic and precious metal quartz vein, skarn and placer gold mineral occurrences on the property. The main vein, the Cariboo or McKinney vein, which is offset by several north-trending faults where it was mined, is a gold-quartz vein hosted in metamorphic rocks of the Paleozoic Anarchist Schist. Other veins include the Wiarton and Eureka veins, which are possible eastern and western extensions of the Cariboo vein. Nearby parallel veins include the Minnie Ha Ha, Dolphin and Sailor veins. Further out are the Anarchist vein to the southwest, and the Fontenoy vein to the east, which strike at a high angle to the Cariboo vein.
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 gold, 3 of which also retuned significant silver results.
In 2022, Ximen started to re-interpret the geological structure of the mine area, aided by 3D modeling of the vein and cross-fault structures. A patchwork of small geological, geochemical and geophysical surveys are being compiled using GIS.
The results of this work together with the new Magnetic and LIDAR surveys will be used for generating targets for exploration drilling. The magnetic results will be used to interpret the distribution of rock types beneath cover and identify possible de-magnetized zones associated with mineralization. The LIDAR will be used to identify fault structures and to provide a detailed topographic base.
Ximen is continuing to advance its conceptual fast-track development schedule for the Kenville Bulk Sample.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 $0.05. 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.
Disclaimer
The information in this InvestmentPitch Media Ltd video is for the viewers information only. Ximen Mining has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT:
InvestmentPitch Media
Barry Morgan, CEO
bmorgan@investmentpitch.com
