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Ximen Mining evaluating gold tailings at Wilcox Gold Mine near Kenville Mine, Nelson, BC

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This season, Ximen Mining is planning to carry out a detailed survey and sampling program of the tailings area to better define the physiography and resource potential of the Wilcox tailings.

Additional Information:

Company: Ximen Mining
Website: http://www.XimenMiningCorp.com
Stock Symbol: TSXV: XIM
Date Published: Jul 13, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Ximen Mining has announced an exploration program to evaluate the gold content of tailings from the historic Wilcox gold mine, located near Nelson in southeastern British Columbia.

Ximen's mineral claims near Ymir cover a tailings deposit from the historic Wilcox mine, located on the north side of Ymir Creek approximately 30 kilometres southeast of Nelson, British Columbia, in the vicinity of the company’s extensive Kenville Mine properties.

The Wilcox was a high-grade gold producer that processed about 14,555 tonnes between 1900 and 1940 of material from high grade gold veins situated within granodiorite of the Middle Jurassic Nelson Batholith.

Ore was processed at a stamp mill located adjacent to the mine site.

This is an image of the Joshua Hendry stamp mill similar to the mill that was used at the Wilcox mine.

Mill processing in the early 1900's yielded low gold recoveries with unrecovered gold remaining in the tailings material.

In 2005, the resource potential of the tailings deposit was estimated in a report titled "Wilcox Mine Tailings - Gold Resource Evaluation" by Doug Warkentin, P.Eng., of Crucible Engineering Services, Vancouver, B.C. Canada., dated September 17, 2005 (B.C. Assessment Report 27963).

The average grade of the tailings deposit was estimated at 3.09 grams gold per tonne, based on assays of 65 samples collected on a grid pattern.

The tonnage was estimated at 12,387 tonnes, based on depth and specific gravity measurements.

The in-situ gold potential was then estimated as 1,230 ounces of gold. An average gold recovery rate of 80% was projected based on metallurgical test results available.

This season, Ximen is planning to carry out a detailed survey and sampling program of the tailings area to better define the physiography and resource potential of the Wilcox tailings.

Activities include grid surface sampling, auger drilling, high resolution drone photogrammetry, metallurgical testing, and detailed GPS surveys.

The results will be used to evaluate the possibility of custom treatment to recover the gold from the tailings deposit.

In addition, mine waste dumps from the Ymir mine and others will be sampled to check their precious metal content.

Management cautions viewers that a qualified person has not done sufficient work to classify this historic estimate as current mineral resources or mineral reserves.

Ximen owns 100% of three of its 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 a option with the option partner making annual staged cash and stocks payments as well as funding the project.

The company has also acquired control of the Kenville Gold mine near Nelson, BC, which comes with surface and underground rights, buildings and equipment.

Ximen’s shares are trading at $0.245.

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.

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I’m Megan Edwards for Investmentpitch Media