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Ximen prepares for decline to bulk sample 10,000 tonnes at Kenville Gold Mines

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A new underground decline is planned to be driven 466 metres as a line drive at -15% grade from a starting elevation of 810 meters to the 740 meter elevation, then a further 40 meters at +3%.

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Company: Ximen Mining
Website: http:// www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Jul 22, 2019
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Ximen Mining has provided an update on plans for exploration development and bulk sampling at its 100% owned Kenville Gold Mine.

The recently acquired Kenville Gold Mine, located near Nelson, British Columbia, is the first recorded underground mine in British Columbia.

A new underground decline is planned to be driven 466 metres as a line drive at -15% grade from a starting elevation of 810 meters to the 740 meter elevation, then a further 40 meters at +3%.

The decline is projected to cross at least two veins before reaching its target elevation, which lies at the center of a series of vein intercepts in holes drilled between 1995 and 2010.

The end of the decline will also be in a favourable position for a raise to be driven to connect with the historic workings of the Kenville gold mine, to be used for ventilation and as a secondary egress as the mine is progressively developed.

Underground diamond drilling from the decline is planned to begin at about 200 meters from the portal.

This drilling will follow-up historic 1995 drill intercepts on the Eagle veins, in an area where mineralized shoots are projected down from historic mined areas on the 257 and 275 levels.

If successful, stope blocks could be defined between the 200 and the target 500 meter mark in the decline.

The intercepts in this table are examples of target intercepts before the 500 meter mark in the decline.

The 500 meter end-position of the planned decline is in line with a projection of mineralized shoots from the historic mine.

At the 500 meter mark there are a number of drill intersections in the Flat vein and South Zone areas that indicate excellent potential for a bulk sample to be outlined.

This table shows some of better target intercepts for the 500 meter mark in the planned decline.

It is estimated that 4500 meters of underground drilling will be required to appropriately outline material for a bulk sample of 10,000 tonnes.

The 740 meter elevation will likely be the first level from which potential vein stope mining will take place, via ramps driven up and down to cross-cut projected veins indicated from the drilling.

An area extending over a strike length of 300 metres and a vertical distance of 150 metres will be developed for trial mining of a bulk sample.

Ximen owns 100 percent interest in three precious metal projects located in southern British Columbia.

In addition to the two gold projects, the Gold Drop Project and the Brett Epithermal Gold Project, Ximen also owns 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 stocks payments as well as funding the development of these projects.

The company has recently acquired control of the Amelia Gold Mine in the center of the McKinney Gold Camp.

Ximen’s shares are trading at $0.71.

For more information, please visit the company’s website, www.XimenMiningCorp.com, contact Christopher R. Anderson, President and CEO, by email at office@XimenMiningCorp.com

For Investor Relations contact William Sattlegger at 604-488-3900 or email at ir@XimenMiningCorp.com.

I’m Fiona Forbes for Investmentpitch Media