Ximen Mining Mobilizing Drill Crew to Brett Epithermal Gold Project, Vernon BC
Rhea-AI Summary
Ximen Mining Corp. (TSXV: XIM) (OTC Pink: XXMMF) is mobilizing crews and equipment to commence the 2024 drill program at its Brett epithermal gold project near Vernon, BC. The project, spanning 20,043 hectares, covers low-sulfidation epithermal-style gold mineralization in Eocene Penticton Group volcanic rocks. Discovered in 1983, a 291-tonne surface bulk sample shipped to Trail, BC in the 1990s averaged 27.74 g/t gold and 63.7 g/t silver. Multiple mineralization zones occur over a two-kilometer strike, including bulk-mineable and high-grade styles. Ximen conducted LiDAR and airborne magnetic surveys in 2022, followed by interpretation, 3D modeling, and target refinement for the upcoming drilling program.
Positive
- Commencement of 2024 drill program at Brett epithermal gold project
- Historical bulk sample yielded high-grade results (27.74 g/t gold, 63.7 g/t silver)
- Multiple mineralization zones over a two-kilometer strike
- Recent LiDAR and airborne magnetic surveys completed for target refinement
Negative
- None.
News Market Reaction – XXMMF
On the day this news was published, XXMMF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC Pink: XXMMF) (the "Company" or "Ximen") announces that it is mobilizing crews and equipment to start the 2024 drill program at its Brett epithermal gold project near Vernon in southern BC.
Photo showing worker locating a drill hole in the field.
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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.
Map of Mineralized Zones at Ximen's Brett Project.
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Longitudinal Section showing Gold Zones at Brett Epithermal Gold Deposit
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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, ir@XimenMiningCorp.com
About Ximen Mining Corp.
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Ximen Mining Corp. owns
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.sedarplus.ca 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/217442