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Ximen starts exploration at Amelia Gold property near Greenwood, BC

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The area has exceptional infrastructure available to enhance the rapid development of mineral deposits, including natural gas pipelines and high-voltage hydroelectric transmission lines that cross the property and is easily accessible by a network of paved and all-weather gravel roads.

Additional Information:

Company: Ximen Mining Corp.
Website: http://www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Jun 29, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Ximen Mining has started prospecting and mapping of its Amelia Gold property, to evaluate all the known and unrecorded mineral recurrences, with the aim of generating new targets for trenching and drilling that will be the basis for permitting for drilling later this season.

The property, located near Mt. Baldy in southern British Columbia, has excellent potential for gold resources within trucking distance of a gold processing facility at Greenwood.

The area has exceptional infrastructure available to enhance the rapid development of mineral deposits, including natural gas pipelines and high-voltage hydroelectric transmission lines that cross the property and is easily accessible by a network of paved and all-weather gravel roads.

The general area, originally known as Camp McKinney, is host to fifteen known polymetallic and precious metal quartz vein, skarn and placer mineral occurrences on the property.

Over its intermittent 68-year mine life from 1894 to 1962, the Cariboo-Amelia gold mine produced 124,452 tonnes of ore, of which 112,254 tonnes were reportedly milled on-site.

Recovery included 81,602 oz of gold, 32,439 oz of silver, 113,302 lbs of lead and 198,140 lbs of zinc, with the lead and zinc recovered after 1940.

According to BC Minfile reports, the average recovered gold grade was 24.68 grams per tonne.

Management cautions these historical records have been examined but not verified by a Qualified Person and that further work is required to verify the numbers.

The Cariboo-Amelia mineral deposit system is defined by a number of different gold-bearing quartz veins that are scattered throughout the property and nearby claims

The majority of the Amelia Property is under-explored by modern methods, and there is excellent potential to define gold resources on the Cariboo-Amelia vein below the historical mine workings and along strike of the historic mining area.

Aside from the main Cariboo-Amelia vein, there are parallel vein structures that have not been adequately examined or evaluated.

There are also other near surface targets that can be tested using geochemistry and trenching.

Exploration drilling will be designed to define and outline mineral resources near-surface initially, then test below the historical mine workings, and finally test along strike and parallel to the Cariboo-Amelia vein.

Geochemical surveys will be done to the west of the past surveys to identify new targets.

The property may hold an added bonus.

According to “Lost Bonanzas of Western Canada” 2006, three gold bars known as the lost gold bars of Camp McKinney, en route to Midway in 1896, were stolen by a lone bandit.

Although the suspected robber was later killed, the gold, worth about $275,000 in 2006, was never recovered.

Management has been busy over the last year and has assembled a large land package comprising 19,582 hectares in the Nelson-Ymir-Salmo area, including the Kenville gold mine.

Ximen Mining Corp. also owns 100% interests in 3 other precious metal projects located in southern BC., the Amelia Gold Mine and The Brett Epithermal Gold Project, and 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 recently divested its interests in the Gold Drop Property in southern British Columbia to GGX Gold Corp, retaining a 2.5% NSR and a meaningful share position.

Ximen’s shares are trading at $0.55.

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 Fiona Forbes for Investmentpitch Media