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Ximen drilling Providence Gold Mine - Previous Producer of 1/2 ounce Gold/119 ounces Silver per ton

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The Providence property is located near Greenwood in southern British Columbia. To follow-up on groundwork conducted earlier this field season, Ximen has started its drilling and trenching program aiming at two targets on the Providence property.

Additional Information:

Company: Ximen Mining
Website: http://www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Sep 22, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Ximen Mining has mobilized equipment and started exploration drilling and trenching on its Providence property.

The Providence property is located near Greenwood in southern British Columbia.

To follow-up on groundwork conducted earlier this field season, Ximen has started its drilling and trenching program aiming at two targets on the Providence property.

An excavator is being used to expose the mine entrance where the first target is an historic mine adit, where a polymetallic silver-gold vein was mined historically.

Ximen previously obtained an assay of 2.87 grams per tonne gold and 127 grams per tonne silver from vein material sampled from the waste dump.

Management believes this could be a strike continuation of the main historic Providence mine.

Minfile records indicate 1,368,075 ounces of silver, 5,896 ounces of gold, 402,690 pounds lead and 260,086 pounds of zinc were recovered from the Providence mine from 10,426 tonnes mined.

Using these figures, the calculated precious metal grades would be 4,081 grams per tonne silver (119 ounces per ton) and 17.6 grams per tonne gold (0.51 ounces per tonne).

The second target is aimed at a showing of massive sulphide vein or skarn mineralization for which a previous grab sample assayed 0.23% copper and 3.4 grams per tonne silver.
There is an historic shaft on this zone.
Prospecting was also done in other areas of the claims earlier this field season with rock chip samples collected from historic mine dumps and rusty, altered outcrops.

Assay results for these samples are pending.

Elsewhere in the Greenwood area, prospecting and rock chip sampling were done at the Bud-Elk and Amelia properties.

At Bud-Elk, altered rocks containing up to 5% disseminated pyrite and chalcopyrite were sampled to verify results reported by previous operators.

Pending favourable results, drilling will be planned for next season.

At Amelia, field work included visiting sites of historic underground workings and grab sampling dumps or scattered quartz vein material at reclaimed sites.

Mineralized samples consisted of quartz containing pyrite and chalcopyrite, or galena were collected for assay with results pending.

A 3D mine model was created, which formed the basis for design of a surface drilling program designed to test for extensions of the Caribou Amelia mine.

Christopher R. Anderson, President and CEO, stated: “Ximen Mining has amassed a significant amount of Precious Metals properties in southern BC and has now positioned itself to be among one of the largest land holders of premium Precious metals exploration properties in southern BC. Ximen also owns all of these assets 100% and is not beholden to any property payments. Ximen has also obtained 100% ownership of surface rights and land holdings in key areas strategic to the advancement of our operations. So while we are pleased with the progress and continue to address the new regulatory obligations that are essential to continue focusing on the advancement of the Kenville Gold Mine towards production, it is important that we also address the blue sky potential of the prolific precious metals assets we have assembled in the Company. Hence, we have been busy on serval fronts and now will commence drilling on several projects the Providence being one of the first.”

Ximen Mining also owns 100% interests in 3 of its precious metal projects located in southern BC., the Kenville 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 $0.43.

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