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Ximen expands footprint to 19,582 hectares at Kenville Gold Mine at Nelson, BC

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The total land package assembled by Ximen in the Nelson-Ymir-Salmo area since first acquiring the Kenville gold mine now stands at 19,582 hectares.

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Additional Information:

Company: Ximen Mining Corp.
Website: http://www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Jun 19, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Ximen Mining continues to expand its footprint at the Kenville Gold Mine, located in Nelson Mining Camp in southern British Columbia.

Seven additional claims were acquired covering approximately 693 hectares.

One block of 2 claims, located about 5 kilometers northwest of the Kenville Gold Mine, surrounds the company’s historic Queen Victoria mine.

A second block of 5 claims adjoins the east boundary of the Kenville Gold Mine property.

The Queen Victoria copper-gold-silver skarn deposit was mined between 1907 and 1956 producing 1.48 million pounds, or 673 tonnes, of copper, 30,544 ounces of silver, and 246 ounces of gold.

The new claims also cover three crown granted claims that reverted.

The eastern block of claims covers 5 reverted crown grants and the Mor 1 mineral occurrence, which is located 1 kilometer southeast of the Kenville Gold Mine.

In addition, the Oro Fino occurrence lies on the boundary between the newly acquired claims and existing Ximen property.

At Oro Fino, known mineralization is similar to that of the Kenville mine, so it appears that the Kenville vein system continues into this area.

Known mineralization there consists of disseminated pyrite with minor chalcopyrite in diorite and pyrite and chalcopyrite in narrow quartz veins up to 30 centimetres in width, indicating potential for bulk-mineable and lode gold deposits.

The total land package assembled by Ximen in the Nelson-Ymir-Salmo area since first acquiring the Kenville gold mine now stands at 19,582 hectares.

Earlier this year, properties were acquired from Emgold Mining, Klondike Gold, and 49er Creek Gold.

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.

The company announced a non-brokered private placement and is looking to raise gross proceeds of up to $2 million from the placement of approximately 4.4 million units priced at $0.45 per unit.

Each unit consists of 1 share and 1 warrant with the warrant exercisable at $0.75 for 24 months.

Ximen’s shares are trading at $0.57.

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 Cassandra Bolinski for Investmentpitch Media