Ximen Files NI 43-101 Technical Report on Gold Drop Property
Greenwood Gold District, B.C., Canada
Vancouver, British Columbia--(Newsfile Corp. - January 24, 2014) - Ximen Mining Corp. (TSXV: XIM) (the "Company" or "Ximen") is pleased to announce that it has completed a 43-101 Technical Report on the Gold Drop property located about 9 kilometers northeast from Greenwood, BC in the Greenwood Gold Mining district. The report was filed as part of the final approval process to acquire a 100% interest in the Gold Drop property which 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.
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
- 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.
- Potential also exists on the claims for low-grade, bulk-tonnage gold mineralization related to broad fracture or stockwork zones. Ximen has acquired the property on the basis of both its exploration and mining potential.
- There has been intermittent small-scale historic production from the property at the Gold Drop, North Star and Amandy mines. Historical production totals 7572 tonnes at an average grade of 5.2 g/t Au and 93.4 g/t Ag. The average mined grade is significantly affected by a large volume of very low grade material that was removed from the North Star mine in 1934-35. Omitting production from these years, the average grade for the remaining 2505 tonnes mined from the property is 13.1 g/t Au and 133.7 g/t Ag.
- 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.
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.
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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.