VANCOUVER, BC / ACCESSWIRE / December 2, 2022 / Ximen Mining Corp. (TSXV:XIM)(FRA: 1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") announces that during the 2022 field season it conducted airborne LIDAR and Magnetic surveys at its Brett property near Vernon, in southern British Columbia.
A total of 54 square kilometers were covered by magnetic surveys, flown at 50m spaced flight lines. The LIDAR surveys covered a total of 12 square kilometers and included orthophotos. Data was collected with a Phoenix Ranger Lidar scanner via a manned helicopter.
Brett Property airborne survey outlines (Magnetic=red, LIDAR=orange)
The Brett epithermal gold property covers 20,000 hectares located 30 kilometres west of Vernon, in southern B.C. Since its discovery in 1983, a total of 160 diamond drill holes (20,945 meters) and several reverse circulation holes have been completed on the property. Most of the drilling targeted the Main Zone, where high-grade gold is hosted in quartz-carbonate veins associated with a northwest-trending fault zone in argillic and silica-altered volcanic rocks of the Eocene Penticton Group. The veins locally contain visible gold and show textures characteristic of an epithermal deposit, such as bladed calcite (see photos).
Mineralized sections of the Main Zone include the Bonanza Zone, with the RW Vein and TR-21 sections, and the Northern Extension Zone. Underground exploration was done in 1995/96, including an exploration drift, raise and sublevel development under the Bonanza Zone. A surface bulk sample was mined from the RW and TR-21 zones totalling 260 tonnes grading 27.74 g/tonne Au (Brett NI43-101, 2017). Parallel mineralized zones near the Main Zone include the TR-1, Stockwork, 490 and Border zones. Further from the Main Zone are the New Discovery and East Zones. The Gossan and West Zones are large areas of altered rocks with local gold geochemical anomalies. New zones were also discovered with exploration campaigns conducted by Ximen in 2014 and 2016.
In 2022, Ximen initiated a review of all previous exploration work, generated new 3D models of the mineralized zones and reviewed surface and down hole geochemical results. This work will used to design further exploration drilling and exploratory surveys.
Ternary diagrams of Al-K-Mg illustrating muscovite and chlorite alteration. Left hand plot shows all samples, with the red area showing the highest density of points. From this diagram a spread between chlorite to muscovite alteration is evident. The plot on the right shows values for samples with >1.2 g/t Au fall within the muscovite and chlorite alteration areas. This suggests these two main styles of alteration that are linked to gold mineralization.
The 2022 helicopter magnetic and LIDAR surveys were done to provide base information for exploring for extensions to the Main and parallel zones. The magnetic results will be used to map 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. Results will be used for generating targets for future exploration and drilling.
Readers are cautioned 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.
Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors,
"Christopher R. Anderson"
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations:
Sophy Cesar
604-488-3900
ir@XimenMiningCorp.com
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen's two Gold projects, The Amelia Gold Mine and 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. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.
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 contains certain "forward-looking statements" within the meaning of Canadian securities This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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.
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 Tel: 604-488-3900
SOURCE: Ximen Mining Corp.
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