InvestmentPitch Media Video Discusses Ximen Mining's Acquisition of Significant Additional Ground in the Historic Camp McKinney in Southern British Columbia - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2019) - Ximen Mining (TSXV: XIM) (OTCQB: XXMMF) (FSE: 1XMA) has acquired additional ground in the historic Camp McKinney in southern British Columbia. The new acquisitions include 9 mineral claims acquired from Turnagain Resources for a cash payment of $33,000, plus an additional new mineral claim which Ximen staked.
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Earlier this year, the company acquired 15 Crown-granted mineral claims covering the historic Cariboo-Amelia gold mine and other mineral occurrences. The new claims, consisting of 1,522 hectares, greatly increases Ximen's holdings in the McKinney Camp from 196 to 1,718 hectares. These newly acquired properties cover a gold-quartz vein, a polymetallic silver lead zinc vein and porphyry molybdenum type mineral occurrences, including possible extensions of the Cariboo-Armelia vein system.
The Cariboo-Amelia Mine was British Columbia's first dividend-paying lode gold mine. It produced 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc during intermittent operations between 1894 and 1962, with an average recovered gold grade of 24.68 grams per tonne gold according to BC Minfile.
The main quartz vein, with a surface trace of 2.4 kilometres along strike, was mined over a strike length of 754 metres and to a depth of between 107 and 171 metres. The width of the vein, which varied from 0.25 to 3.5 metres, was composed mostly of white quartz and pyrite. Visible native gold is locally prominent and higher gold grades are reported to occur where the vein hosts bands of sulphides including sphalerite and galena.
Priority targets for exploration on this new land package in Camp McKinney include potential extension of gold mineralization at depth below the historic mine workings, strike extensions in fault offset segments along strike, parallel veins, and possible porphyry related molybdenum-copper mineralization.
The company recently acquired control of the Kenville Gold Mine near Nelson, British Columbia, the first recorded underground mine in British Columbia and is activating the existing exploration permit for 1,200 meters of underground development and 20,000 meters of diamond drilling.
Ximen owns 100 percent interest in three precious metal projects located in southern British Columbia. In addition to the two gold projects, the Gold Drop Project and the Brett Epithermal Gold Project, Ximen also owns 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.
For more information, please visit the company's website, www.XimenMiningCorp.com, contact Christopher R. Anderson, President and CEO, by email at office@XimenMiningCorp.com. For Investor Relations contact William Sattlegger at 604-488-3900 or email at ir@XimenMiningCorp.com.
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