Ximen Receives Conditional Approval for Gold Drop Property, Greenwood Gold District, BC Canada
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2013) - Ximen Mining Corp. (TSXV: XIM) (the "Company" or “Ximen”) is pleased to announce that the TSX Venture Exchange has conditionally accepted the transaction to acquire a 100% interest in the Gold Drop Property located about 9 kilometers northeast from Greenwood, BC in the Greenwood Gold Mining district. The property hosts dozens of surface and near surface gold-bearing quartz veins from which several thousand tonnes of ore was mined as recently the 1980’s. All mining to date has been small scale high grade. Modern geology techniques have not yet been applied to the property.
Final approval will be primarily contingent upon the TSX-V review of the 43-101 technical report submitted as part of the filing. Other conditions include providing the TSX-V with a budget of exploration expenditures planned for the Gold Drop property and a PIF filing for Al Beaton, P. Eng. and Mine Manager, who will likely become an insider of the Company as a result of the transaction.
Highlights of the 43-101 report include:
- The property has seen high grade gold production as recent as the 1980’s
- The property covers geologically prospective ground in the well-mineralized Greenwood District, and hosts 8 or more known low-sulfide, gold-bearing veins or vein systems, including the North Star, Gold Drop, Amandy, Lakeview and Moonlight occurrences
- 100’s of meters of underground workings on the property
- Close proximity to Kinross’s state of the art Kettle River Operations (Buckhorn mine) mill. Since custom milling opportunities exist in the district, the Gold Drop property does not necessarily need to support a stand-alone mine/mill operation to be viable. Even a small or modest tonnage of high-grade ore could potentially be profitable to extract.
- Potential also exists on the claims for low-grade, bulk-tonnage gold mineralization related to broad fracture or stockwork zones.
- Excellent infrastructure and access
- Notice of Work permit application is submitted for surface and undersurface bulk sample
- Notice of Work permit application is also submitted for over 3,000 meters of drilling and trenching
The land package that has been assembled is approximately 5 km by 5 km and is comprised of 13 claims and 2 crown grants that cover an area of approximately 1250 hectares. It is located in close proximity to several mills, of particular interest Kinross’ Kettle River Operations mill. It is understood that the 2,000 tonne/day mill is currently operating at about half capacity and is looking for additional feed. The mill is a modern carbon-in-leach cyanide gold mill. At present, mill feed is from the Buckhorn underground gold skarn mine, 75 km by road from the mill. The Buckhorn mine has an estimated two year mine life.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
"On behalf of the board "
XIMEN MINING CORP.
For more information, please contact:
Ximen Mining Corp.
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.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.