Vancouver, B.C. – November 29, 2019 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB:XXMMF) (the “Company” or “Ximen”) provides an update on the Treasure Mountain Silver Property, located near Tulameen, B.C.
The Treasure Mountain North Property consists of 43 mineral claims covering 10,918 hectares that are owned by Ximen Mining Corp and optioned to New Destiny Mining Corp. The claims cover eight mineral occurrences including silver, gold, lead, zinc and copper, and numerous historic mine adits and trenches. This year, work focused on the Superior (Lucky Todd) and Railroad copper occurrences.
Work started with trenching at the Superior (Lucky Todd). A total of 73 metres was excavated in three trenches that exposed quartz veins up to 10 centimeters in thickness hosted in granodiorite and biotite schist. Veinlets exposed in Trench T19-1 are mineralized with up to 2% chalcopyrite and equal amounts of pyrite. A total of 12 rock channel samples were collected, with results for gold ranging from below detection (<0.01 ppm) to 1.96 ppm, silver ranging between 0.05 and 14.05 ppm, copper ranging between 76.1 and 250 ppm, and molybdenum ranging from 2.65 to 156.5 ppm. The high values are over widths varying between 0.2 and 0.8 metres. One channel sample over 10 metres contained 0.15 ppm gold. A grab sample of mineralized quartz contained 3.99 ppm (grams per tonne) gold, 96.8 ppm silver, 3560 ppm (0.36%) copper, 45.1 ppm molybdenum, 141.5 ppm arsenic and 1780 ppm antimony. The copper-gold-molybdenum signature and veinlet style of mineralization is interpreted as a porphyry-system. Four diamond drill holes (102 metres) were completed at the Superior (Lucky Todd). Quartz veinlets mineralized with pyrite and chalcopyrite were intersected, similar in appearance to those seen in the trenches. Analytical results are pending. At the Railroad copper-silver prospect, an access road was constructed and trenching was done at the main adit. A zone of chalcopyrite mineralization was exposed in quartz sericite schist. Nine consecutive rock chip channel samples were collected from the trench as well as inside the adit. The highlight is a 1.7 metre wide sample across a zone of chalcopyrite mineralization in sericite schist that returned values of 264 ppm silver and 1.06% copper, with elevated arsenic (106 ppm As) and antimony (439 ppm Sb). The weighted average grades for this and two consecutive mineralized samples are 116 ppm silver and 0.64% copper over a 4.2 metre width. The Railroad appears to be a structurally controlled copper-silver zone. The Jim Kelly Creek area contains gold-quartz veins, as shown by a grab sample taken in 2018 from the Superior/John Bull prospect that returned a result of 11.3 grams per tonne gold. This area remains a target for future work. The Company’s Treasure Mountain Silver Property covers geologically prospective ground adjacent to Nicola Mining Inc.’s Treasure Mountain Property (site of the historic Treasure Mountain Silver-Lead-Zinc mine or Huldra Silver). For more information, refer to the Company’s 2017 Technical Report on the Treasure Mountain Silver property. Geochemical analyses were performed by ALS Laboratories in North Vancouver, BC., which is an independent and accredited commercial laboratory. Analyses for gold were done by fire assay with AA finish on 50 gram subsamples. Analyses for copper and other elements was by four acid digestion with ICP-MS finish. Over-limit results for silver were re-analyzed by HF-HNO3-HClO4 digestion with HCl leach, with an ICP-AES or AAS finish. Over-limit results for copper were analysed total copper by four acid digestion and ICP or AAS finish. Field quality control samples were not included with the sample batch due to the limited number of samples. 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. Investor Relations: Sophy Cesar, ir@XimenMiningCorp.com
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com