Ximen Mining Corp One Step Closer to Start of Development at Kenville Gold Mine - Nelson BC
Ximen Mining Corp One Step Closer to Start of
Development at Kenville Gold Mine - Nelson
BC
Vancouver, British Columbia--(Newsfile Corp. - November 27, 2024) -
Ximen Mining Corp
. (TSXV:
XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") is pleased to provide this update on
activities at its Kenville Gold Mine project near Nelson in southeastern BC.
Photo of geological team logging drill core from monitoring wells at Kenville
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3028/231444_e07fe82db46c3966_001full.jpg
"
We are highly encouraged by the recent developments at the Kenville Gold Mine
,"
stated
Christopher R. Anderson, President, CEO, and Director of Ximen Mining Corp.
"The completion of the
Archaeological Impact Assessment with no significant findings is a pivotal step forward.
Additionally, the completion of geological logging of drill core from the recently completed
groundwater monitoring wells has provided additional valuable insights as well. These two key
accomplishments bring us one step closer to closing off final conditions in our permit and
starting underground development. We are currently now proceeding to finalize the completion
of the engineering design for a culvert crossing at Fisherman Road."
Photo of personnel at Kenville mine portal
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3028/231444_e07fe82db46c3966_002full.jpg
The Company reports that an Archaeological Impact Assessment (AIA) for a proposed construction site
was recently completed successfully with no archaeological sites identified. The AIA involved excavation
of five test pits over approximately 25 meters for a planned stream diversion involving an excavated
channel. The next step is an engineering design for a culvert crossing Fisherman Road and the channel,
which will be sent to the BC Ministry of Transportation and Infrastructure for approval before construction
can proceed. The diversion is required to be in place before starting the mine development.
The Company also recently completed geological logging of drill core from two groundwater monitoring
wells drilled earlier this fall, which were required to be installed prior to starting the mine development.
The pair of groundwater monitoring wells include one deep well and one shallow well. Hole 1 was drilled
to 100.0 meters depth and Hole 2 was drilled to 47.0 meters depth.
The wells have been capped and
equipped for monitoring.
Both holes were drilled into dark grey, massive to locally foliated, medium
grained, equigranular diorite of the Eagle Plutonic Complex.
A minor late-stage, cross-cutting mafic dike
approximately 3 meters thick was also intersected near the top of the holes, which is composed of
coarse grained, clinopyroxene with minor biotite.
No major faults were observed in either hole.
Hole 1
intersected a quartz vein (0.1 meter thick) mineralized with disseminated pyrite and chalcopyrite.
A half-
core sample of this vein was cut and collected for assay.
In summary, work is progressing well towards completing all engineering and environmental
requirements before the underground mine construction can start.
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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/231444