Vancouver, B.C. – July 15, 2019 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB:XXMMF) (the “Company” or “Ximen”) announces that it has acquired additional ground in the historic Camp McKinney in southern British Columbia. This acquisition consolidates a sizable land position surrounding the former Cariboo-Amelia gold mine.
Map showing Ximen land package in McKinney Gold Camp.
“Interesting little tidbit, Al McKinney and Fred Rice staked a claim in 1888
which eventually became, McKinney Gold Camp.”
States Anderson, CEO Ximen.
The new acquisitions include 9 mineral tenure claims acquired from Turnagain Resources Inc. for a cash sum of Thirty Three Thousand, plus one new mineral claim staked by Ximen. The area covered by these new claims is 1522 hectares, bringing the total area claimed by the Company in the McKinney Camp to 1718 hectares. The newly acquired properties cover gold-quartz vein, polymetallic silver lead zinc (gold) vein and porphyry molybdenum type mineral occurrences, including possible extensions of the Cariboo-Amelia vein system.
Earlier this year, the Company acquired 15 Crown-granted mineral claims covering the historic Cariboo-Amelia gold mine and other mineral occurrences (see news release dated June 4, 2019). The Cariboo-Amelia was British Columbia’s first dividend-paying lode gold mine and the mine produced 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc during intermittent operations between 1894 and 1962. The average recovered gold grade was 24.68 grams per tonne gold (from BC Minfile).
The main quartz vein has a surface trace of 2.4 kilometres along strike. It was mined over a strike length of 754 metres and to a depth of between 107 and 171 metres. The width of the vein varies from 0.25 to 3.5 metres. It is composed of white quartz and pyrite with lesser sphalerite, galena, chalcopyrite and rare tetrahedrite and pyrrhotite. Visible native gold is locally prominent and higher gold grades are reported to occur where the vein hosts bands of sulphides including sphalerite and galena.
Priority targets for exploration on the Company’s new land package in Camp McKinney include potential extension of gold mineralization at depth below the historic mine workings, strike extensions in fault offset segments along strike, parallel veins, and possible porphyry related molybdenum-copper mineralization.
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.
The company further announces that as per the news release of July 11 2019, Ms Sophy Cesar commences her IR services today July 15th for a monthly cash sum which is a lessor amount of $8000 / month, for a term of one year and she is also granted one hundred thousand stock options at an exercise price of 75 cents.
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com