Ximen Completes Phase 2 & 3 Exploration Program and Secures Drilling and Trenching Permits at the Treasure Mountain Project
Vancouver - (TSX-V: XIM) Ximen Mining Corp. (the “Company” or “Ximen”) is pleased to announce the successful completion of the second and third phase of its sampling and exploration program at its precious and base metal Treasure Mountain Silver Project, located east northeast of Hope, Southern British Columbia. To view the graphic in its original size, please click here
Prospecting near the Superior showing, showing gossanous iron oxide derived from sulphide mineralization.
The first phase was a whole rock/grab sampling program that took place in September 2016. All samples were collected largely in the south part of the Treasure Mountain Silver Project. Results to be released when received.
A second program was initiated in October 2016. Fifty-one whole rock/grab samples were collected and results will be released when received.
These samples were collected because of 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 previously reported 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.
To view the graphic in its original size, please click here
Auger recovering samples from bedrock at approximate depth of 3.5 M
The third program, involving a three man crew and an auger on a five ton truck was carried out in mid-November. Thirty two Auger holes were completed and reclaimed. Samples collected were submitted and results are pending. The deep soil sampling covered a transect of the Treasure Mountain Silver Project claim block from the north east corner of the property to the boundary with the Nicola Mine property and south east along the contact with that property. It was designed to gather data where there is minimal outcrop but in the same general area as the mine itself and minfile occurrences such as the aforementioned Lucky Todd, Superior and Rio Grande.
The soil sampling process was significantly enhanced by using a mechanized truck mounted auger that was capable of penetrating through overburden and glacial till. This process enabled samples to be recovered deeper in the soil horizon nearer the soil bedrock interface and will provide useful data further focussing exploration in the 2017 field season. During the enhanced soil sampling program prospecting was also conducted near the Superior minfile showing, rock samples were taken and also submitted for analysis.
In conjunction with the sampling program a drone with aerial photography capabilities was used to enhance the understanding of the topography of less accessible areas.
To view the graphic in its original size, please click here
All samples were submitted to ALS laboratories for base and precious metal analyses.
Based on the results of the 2015 and 2016 sampling data, and past historical exploration an aggressive trenching and drill program is planned for the 2017 field season. Permitting for diamond drill sites and trenches, is now in place.
Ximen’s Treasure mountain silver Project covers historically prospective ground in the Similkameen and New Westminster Mining Divisions. The Project is adjacent to Nicola Mining Inc.’s Treasure Mountain Property, site of the previous opertaing Treasure Mountain Silver-Lead-Zinc Mine which exploited polymetallic veins. The Project occurs within the Intermontane Tectonic Belt, which hosts numerous porphyry copper and copper-gold deposits. The project covers approximately 9500 hectares and hosts seven gold, silver, lead, zinc and / or copper occurrences in various regions as reported in B.C. Ministry of Energy and Mines MINFILE database. These include gold-quartz vein, polymetallic vein and porphyry type occurrences. Some of these mineral occurrences have an associated historic underground workings.
Ximen decided at the beginning of 2016 to divest itself of its non-core assets and focus its efforts on its key asset the Brett Gold Project outside Vernon BC. Work completed this year at the Treasure Mountain Silver project was to advance the project to a stage where a partner could take over the project and continue with the opportunity. Drill and trenching targets are now in place and permits secured for the 2017 field season.
On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and Director
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 are 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.
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