Advancing precious metal assets in British Columbia
Advancing precious metal assets in British Columbia
Oct 18, 2023 TSX.V: XIM
FRA: 1XMA
OTCQB: XXMMF
Ximen Mining Airborne Lidar Survey
Surrounding
Kenville Gold Mine
Nelson BC
Vancouver, B.C., October 18 , 2023 – Ximen Mining Corp . (TSX.v: XIM) (FRA: 1XMA)
(OTCQB: XXMMF) (the “Company” or “Ximen”) announces that it has conducted an
interpretation of the results from a LiDAR survey completed over a portion of its Nelson Property
holdings in southern B.C., which surround the company's flagship, the Kenville Gold Mine.
Figure 1. Ximen’s Nelson Property showing survey area.
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Ximen is exploring am extensive land package of 21,497 hectares in the Nelson area that surrounds
its Kenville Gold Mine project. A helicopter-borne LiDAR survey covering 36.1 square kilometers
was completed over the Kenville and surrounding area (Figure 1 above).
At Kenville, underground development was recently permitted to access new veins discovered by
surface drilling. Over its 64-year history of production, the Kenville mine produced 65,381 ounces
of gold and 27,685 ounces of silver from 181,375 tonnes mined (BC Minfile). The Kenville deposit
occurs within area of gold-quartz vein swarms measuring 8 by 3 kilometers that includes the
Eureka, Venus and California historic mines (Figure 2). Total production from Eureka, Venus and
California mines was 5,945 ounces gol d and 43,547 ounces silver as well as significant copper,
lead and zinc (BC Minfile).
The LiDAR survey resulted in two products : a digital elevation model (DEM) and orthophoto
mosaic. The DEM was used to identify l ineaments related to geological and geomorphological
features. Lineaments were interpreted as faults, bedding traces and landscape-scale glacial grooves.
Features reflecting infrastructure such as logging roads and previous exploration workings were
also identified, using a combination of the DEM (Figure 3) and the orthomosaic (Figure 4).
Figure 2. Map of known vein swarms extending over 8 x 3 km area within LiDAR survey area..
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Figure 3. Lineaments identified from LiDAR DEM.
Figure 4. Image of the orthomosaic from the LiDAR survey showing lineaments identified.
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The lineaments fall into two statistical groups as shown by the Rose diagrams in Figure 4 . The
length-weighted Rose diagram (a) shows a dominant north-northwest trend, representing the major
valleys i n the area including Eagle and 49er Creek. These valleys are related to major faults
including the M t. Verde Fault and the Silver King Shear Zone, which is associated with gold
mineralization in the area . There are also numerous parallel lineaments in th is group, some of
which appear to be large-scale ridge–groove features in the bedrock interpreted as glacial in origin.
The non-length weighted Rose diagram shows a dominant east -northeast trend. This group may
represent cross-faults or quartz veins. Lineaments that parallel the known vein swarms are high
priority and warrant follow-up exploration.
a) b)
Figure 4. Rose diagrams of lineaments showing length-weighted (a) and non length-weighted groupings (b).
Readers are cautioned that historical records referred to in this News Release have been examined
but not verified by a Qualified Person. Further work is required to verify that historical records
referred to in this News Release are accurate.
Dr. Mathew Ball, P.Geo., VP Exploratio n for Ximen Mining Corp. and a Qualified Person as
defined by NI 43-101, approved the technical information contained in this News Release.
On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and Director
604 488-3900
Investor Relations: 604-488-3900, [email protected]
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About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern
BC. Ximen`s two Gold projects , The Amelia Gold Mine and The Brett Epithermal Gold Project.
Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver
Mine. Currently, the Treasure Mountain Silver Project is under a n option agreement. The option
partner is making annual staged cash and stocks payments as well as funding the development of
the project. The company has also acquired control of the Kenville Gold mine near Nelson British
Columbia which comes with surface and underground rights, buildings and equipment.
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 1XMA and WKN with the number as A2JBKL.
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This press release contains certain "forward -looking statements" within the meaning of Canadian
securities This press release contains certain "forward -looking statements" within the meaning of
Canadian securities legislation, including statements regardin g the receipt of TSX Venture
Exchange approval and the exercise of the Option by Ximen. Although the Company believes that
such statements are reasonable, it can give no assurance that such expectations will prove to be
correct. Forward-looking statements are statements that are not historical facts; they are generally,
but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and simila r
expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur,
or are those statements, which, by their nature, refer to future events. The Company cautions that
forward-looking statements are based on the beliefs, es timates and opinions of the Company's
management on the date the statements are made and they involve a number of risks and
uncertainties. Consequently, there can be no assurances that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such
statements. Except to the extent required by applicable securities laws and the policies of the TSX
Venture Exchange, the Company undertakes no obligation to update these forward -looking
statements if management's beliefs, estimates or opinions, or other factors, should change. Factors
that could cause future results to differ materially from those anticipated in these forward -looking
statements include the possibility that the TSX Venture Excha nge may not accept the proposed
transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports,
publicly available through the Canadian Securities Administrators' System for Electronic
Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of
such risk factors and their potential effects.
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.
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.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900