Ximen Mining Corp Visible Gold Intersected in Hole 7 at the West Zone, Brett Epithermal Gold Property - Vernon BC
Ximen Mining Corp Visible Gold Intersected in
Hole 7 at the West Zone, Brett Epithermal Gold
Property - Vernon BC
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) -
Ximen Mining Corp
. (TSXV:
XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") announces it intersected visible gold in
hole 7 of its drill program at the Brett epithermal gold project near Vernon in southern BC.
Ximen's drill rig at hole B24-07 on Brett Epithermal Gold Property
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Hole B24-07 was drilled from the same collar location as the preceding holes 5 and 6 but was drilled to
the southwest to test the extent of the West Zone alteration zone (see Figure 1).
Figure 1.
Plan view of hole B24-07 (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 B24-07 intersected hydrothermally altered massive and brecciated basaltic volcanic (48%) and
feldspar porphyry intrusive rocks (52%). From 3.0 to 9.32 m a section of oxidized and argillic altered
volcanic rocks with abundant iron oxides was intersected. This was followed by hydrothermally altered
volcanic and intrusive rocks with pervasive silicification and intervals of clay-rich (illite/smectite and
kaolinite) alteration associated with faults, extending from 19.86 to the end of the hole at 214 m. Dark
grey, silica-pyrite forms veinlets and breccia matrix in the altered rocks. Mineralization is dominated by
disseminated pyrite that ranges visually from 3 to 10%, and sections of quartz and pyrite veinlets
including the intervals 19.86 to 32.87 (13.01 m) and 85.80 to 88.08 m (2.28 m). This last interval contains
visible gold at 87.25 m within a colloform-banded silica-pyrite veinlet that contains multiple (20 +) grains
of gold (see pictures).
Hole 7 demonstrates for the first time that the West Zone is a major gold-bearing zone associated with
clay altered faults and a significant amount of porphyry.
This zone was largely un-tested before but is now
a prime target for further exploration.
The initial oxidized zone intersected in hole B24-07 correlates with weathered and argillic altered
volcanic rocks in the top of holes 5 and 6.
The underlying wide zone of intense hydrothermal alteration
and silica-pyrite veining characterizes the West Zone.
Hole 8 will be drilled from the same collar location
as Hole 7 but directed northwesterly to further test the extent of the West Zone north of hole 7.
Visible gold intersected in Ximen hole B24-07 (centimeter scale above bottom photo)
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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.
Interpretation, 3D modeling, and target refinement were then completed in preparation for the
2024 drilling program.
The overall objective of the drill program is to extend the Main Zone to the southeast and at depth, and to
test altered zones that border and parallel the Main Zone.
Map showing Mineralized Zones at the Brett Project
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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 1XMA 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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