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InvestmentPitch Media Video Discusses Ximen Mining's Plans for Developing the Kenville Gold Mine and Brett Epithermal Gold Project in Southern British Columbia - Video Available on Investmentpitch.com
January 23, 2020 9:00 AM EST | Source: InvestmentPitch Media
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2020) - Ximen Mining (TSXV: XIM) (OTCQB: XXMMF) (FSE: 1XMA) has provided an update on its plans for developing the Kenville Gold mine and Brett Epithermal Gold Project in southern British Columbia.
In 2019, Ximen acquired the former producing Kenville Gold Mine, located near Nelson, along with all existing permits, infrastructure and equipment. Historically, the Kenville mine produced 65,381 ounces of gold from 158,842 tonnes processed.
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The company has initiated permitting to develop a new 1200 metre decline and do underground drilling. Once this work gets underway, the company will move toward extracting a bulk sample for offsite processing and then be in a position to move toward continuous production. To date, surface buildings and roads were rehabilitated, the portal site for the decline was stripped, and a new mine compressor was purchased.
Nelson Power recently installed a new power pole near the new proposed portal site to allow for connection to the new line for a 3-phase installation with electricity generated from the Kootenays hydro dam to power the ventilation air system, compressors and pumps making the operation completely electric. Water and waste rock quality surveys were completed, showing that the mine drainage water is high quality and the waste rock is non-acid generating.
The Brett Epithermal Gold property was acquired by Ximen in 2014 and has a history of surface exploration drilling, geophysical and geochemical surveys, as well as approximately 240 meters of underground drifting and raising. A 291 tonne bulk sample processed at the Trail smelter recovered a grade of 27.7 grams per tonne. Bonanza high-grade and bulk low-grade types of epithermal-style gold mineralization have been identified on surface and in previous drill holes. In 2019 Ximen initiated a permit to extend the underground workings and do diamond drilling to further define the main zone and explore parallel zones, with this program expected to be started this year.
In addition to the Kenville and Brett properties, Ximen also owns the Amelia Gold Mine, the Gold Drop Project and the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine. Currently both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements, with the option partners making annual staged cash and stocks payments as well as funding the development of these projects.
The company has engaged Laurentian Bank Securities Inc. to act as strategic financial advisors and to assist the company to source capital and evaluate potential merger and acquisition opportunities.
Christopher Anderson and the rest of the Ximen team were recently interviewed by Fiona Forbes at the Kenville Mine. The video is available on InvestmentPitch.com (click here).
For more information, please visit the company's website, www.XimenMiningCorp.com, contact Christopher 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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51747