Twitter Facebook LinkedIn YouTube

Ximen Acquires Greenwood Property from Saville Resources & 49er Creek Property in Nelson Gold Camp

Video Platform Video Management Video Solutions Video Player

Ximen Mining continues to add to its extensive property portfolio in Southeastern British Columbia with the purchase of 100% of Saville Resources’ Bud Property near Greenwood in southern British Columbia. Last week, Ximen acquired 100% of the mineral properties of privately owned 49er Creek Gold, which covers approximately 4,276 hectares.

Tags:

Additional Information:

Company: Ximen Mining
Website: http://www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Mar 3, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Ximen Mining continues to add to its extensive property portfolio in Southeastern British Columbia with the purchase of 100% of Saville Resources’ Bud Property near Greenwood in southern British Columbia.

The 381-hectare property comprises 6 mineral claims and is located 4 kilometers northwest of Greenwood, close to Ximen’s property and only 9.5 kilometers from the 200 tonne per day Greenwood mill facility of Golden Dawn Minerals Inc.

The property is situated within the highly mineralized Boundary District, which includes the Republic district in northern Washington State and the Greenwood Mining Camp in southern British Columbia.

The Bud property covers six BC Minfile occurrences, including the past-producing Morrison mine, classified as a copper and gold skarn, which produced 7.15 kilograms of gold, 26.0 kilograms of silver and 10.7 tonnes copper from 2,647 tonnes.

Saville previously reported highlights from rock grab sampling conducted in 2018, including 4.57 gpt gold and 6.70 % copper, 4.44 gpt gold and 6.84 % copper, and 1.23 gpt gold and 7.14 % copper.

These results demonstrate an association of elevated gold with high copper values, consistent with models for large copper-gold porphyry and related skarn deposits.

Ximen paid 388,888 shares with the transaction subject to regulatory approval.

Last week, Ximen acquired 100% of the mineral properties of privately owned 49er Creek Gold, which covers approximately 4,276 hectares.

This image shows Ximen's Nelson area holdings including the acquisition from 49 Creek Gold Corp, and recently acquired Rozan Property from Emgold, and the Ron gold property from Klondike Gold, and Ximen's Kenville and California mine properties.

The 49er Creek property covers eight BC Minfile occurrences of which four were past producers with production shown in this table.

The Gold Hill, Good Hope and Northern Light are vein deposits and the Queen Victoria is a copper-gold skarn deposit.

The highest assay from exploration in 1984 was 207.4 grams per tonne gold, 168.3 grams per tonne silver and 4.2 per cent copper.

Ximen paid $100,000 and 1.4 million shares with escrow conditions, subject to regulatory approvals.

In addition to all these projects, Ximen also owns the Caribou-Amelia Gold Mine properties, the Brett Epithermal gold project, the Gold Drop Project and 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, with the option partners making annual staged cash and stock payments as well as funding the development of these projects.

Ximen’s shares are trading at $0.445.

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.
I’m Megan Edwards for Investmentpitch Media