Ximen Mining Corp Completes 2024 Drill Program at Its 100% Owned Brett Epithermal Gold Property - Vernon BC
Ximen Mining Corp Completes 2024 Drill
Program at Its 100% Owned Brett Epithermal
Gold Property - Vernon BC
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) -
Ximen Mining Corp
. (TSXV:
XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") announces it has completed hole 8 and
is concluding its drill program at the Brett epithermal gold project near Vernon in southern BC.
Photo of Ximen's drill rig at hole B24-08 on the Brett Epithermal Gold Property
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Hole B24-08 was drilled from the same collar location as holes 5, 6 and 7 but was drilled to the
northwest to test the extent of the West Zone alteration zone (see Figure 1). The hole passed
approximately 100 meters along strike northwest of the visible gold intercept in hole 7.
Figure 1.
Plan view of hole B24-08 (left) and cross-section (right)
Hole was drilled to test the extent of the West Zone alteration towards the west
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Hole B24-08 intersected volcanic rocks throughout the hole, including massive basalt, basalt breccia
and ash and lapilli tuff. An oxidized leached zone of argillic alteration was intersected from the top of
bedrock at 4.5 meters to 8.3 meters depth. Multiple zones of intense clay-silica alteration with clay-
gouge faults and silica-pyrite mineralization in veinlets and as breccia matrix were intersected, totalling
68.3 meters or 35% of the hole. The breccia is characterized in places by wavy and circular concentric
bands of silica and pyrite (see pictures below) and is interpreted to be a highly altered volcanic breccia.
Photos of silica-pyrite alteration and breccia in core from hole B24-08
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The initial oxidized zone intersected in hole B24-08 correlates with weathered and argillic altered
volcanic rocks in the tops of holes 5, 6 and 7. The underlying extensive zones of intense hydrothermal
alteration and silica-pyrite veining and breccia appear to be characteristic of the West Zone.
Hole 8
further demonstrates that the West Zone is a major alteration zone containing all the typical features of
gold-bearing zones at the Brett property.
Map showing the location of Mineralized Zones at the Brett Project
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Hole 8 completes the 2024 drill program at the Brett property, with a total of 1,356.5 meters having been
drilled.
The drilling equipment will be demobilized before winter conditions set in, and core cutting and
sampling will continue at the site. The initial objective of the drill program was to extend the Main Zone to
the southeast and at depth, and to test altered zones that border and parallel the Main Zone. Recognition
of extensive alteration and the discovery of visible gold mineralization in hole 7 in the West Zone shifted
the focus for 2024 to this zone.
The Brett project (20,043 hectares) covers low-sulfidation epithermal-style gold mineralization hosted in
Eocene Penticton Group volcanic rocks. Epithermal-style gold mineralization was discovered in 1983,
and a 291 tonne surface bulk sample was shipped to the smelter at Trail, BC in the 1990's that averaged
27.74 grams per tonne gold and 63.7 grams per tonne silver (Brett 2017 NI 43-101 report). Multiple
zones of mineralization occur over a two kilometer strike, including both bulk-mineable and bonanza high
grade styles. Ximen conducted LiDAR and airborne magnetic surveys over parts of the Brett property in
2022.
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 Exploration 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,
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 an 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 1XM and WKN with the number as
A2JBKL.
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 regarding 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 similar 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,
estimates 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 Exchange 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
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