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Vancouver, British Columbia--(Newsfile Corp. - October 28, 2024) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") announces the completion of the 5th hole of its on-going drill program at the Brett epithermal gold project near Vernon in southern BC.
Hole B24-05 was drilled at 45 degrees inclination to the northeast to test the Border Zone, an alteration zone situated west of the Main Zone, and to test 40 meters southeast of an intercept of 16.7 g/t Au from hole 14-13 between 176.0 and 177.5 meters. (see Figure 1).
Figure 1. Plan view of hole B24-05 (left) and cross-section (right). Hole was drilled to test for an extension from an intercept of 16.7 g/t Au in hole 14-13.
B24-05 intersected multiple altered and mineralized zones and three porphyry dikes. The first 15 meters consisted of weathered and argillic altered volcanic rock. From 18.0-24.63 a sulphide zone was intersected that consists of pyrite veinlets and / or replacement of volcanic breccia matrix, with fine quartz veinlets. Total sulphide content for the interval is 5-10%. Five clay-pyrite mineralized zones were intersected at 31.27-34.30 (3.03m), 51.15-60.42 (9.27m), 149.60-150.76 (1.16m), 216.38-219.49 (3.11m), 231.07-232.81 (1.74m). Pyrite content in these zones ranges between 2 and 10%. The volcanic rocks are silicified adjacent to and between the zones at 213.2 and 231.07 meters with up to 1% disseminated pyrite. A quartz vein breccia was intersected between 154.0 and 154.2 meters that contains 1-3% pyrite. Porphyry dikes were intersected at 86.23-92.60, 232.81-238.79 and 252.28-258.65 meters. The dike at 232.81 meters is moderately clay and silica altered.
The initial sulphide zone intersected in hole B24-05 and the altered intervals at 31.27 and 51.15 meters correlate with the West Zone. The Border zone, which contains the 16.7 g/t intercept in hole 14-13, correlates with the alteration at 149.60-150.6m or possibly the quartz breccia at 154.0m. The Main Zone correlates with the alteration intersected at 216.38 and possibly the zone at 231.07m. The porphyry dike intersected at 232.81 correlates with the dike associated with the Main 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. 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.
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
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
