Ximen Update on its Treasure Mountain Silver Project
Vancouver, British Columbia (FSCwire) - Ximen Mining Corp. (the “Company” or “Ximen”) is pleased to announce the successful completion of a sampling program on its Treasure Mountain Silver Project, located northeast-east of Hope, Southern British Columbia.
The geochemical whole rock sampling program took place in September of this year and covered claims in the southeast and northeast parts of Ximen’s Treasure Mountain Silver Project.
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Grab sample recovered from near the Superior showing, showing quartz stockworking and gossanous iron oxide probably derived from sulphide mineralization.
This program was the first part of a multi-phase program planned for Ximen`s Treasure Mountain Silver project this fall. It was a whole rock/grab sampling program that took place in September.
Sampling focused on visible mineralization and proximity to known mineralization as recorded in the BC minfile data base, such as the Lucky Todd, Superior, and Rio Grande. The Superior and Lucky Todd minfile occurrences are described as pyrite and traces of chalcopyrite in narrow seams along fractures in a quartz porphyritic dike. A sample taken across a 1.5 meter zone in the Superior showing assayed 0.69 g/T. gold. The Rio Grande minfile describes mineralization as a zone containing narrow stringers 2.5 to 10 cm wide. A chip sample across the zone assayed 14 g/T silver, and 1.2% zinc.
Samples taken during this program were submitted to ALS laboratories for base and precious metal analyses.
Further Ximen Mining Corp. is pleased to announce that further to its November 7, 2016 news release, the TSX Venture Exchange has approved the issuance of 221,736 common shares at a deemed price of $0.12 cents per common share to settle an aggregate of $26,608.40 of debt owed to certain creditors of the Company. The hold period expiry date for the shares is March 16, 2017.
On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and Director
Ximen Mining Corp. 604 488-3900
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects. Ximen`s two Gold projects, The Gold Drop Project and Brett Gold Project located in southern British Columbia. Ximen also owns the Treasure Mountain Silver project adjacent to the past producing Huldra Silver Mine. Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XM and WKN with the number as A1W2EG
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Ximen11182016.pdf
Source: Ximen Mining Corp. (TSX Venture:XIM)
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