Vancouver, B.C., March 17, 2021 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) is pleased to announce that it has completed its airborne geophysical survey at Greenwood in southern British Columbia.
The helicopter-borne VTEM™ and magnetics survey has now been completed over the Providence and Bud-Elk properties. The survey results are expected to be delivered within weeks and will be used to guide the Company’s 2021 exploration programs. The survey is expected to outline conductive bodies related to massive sulphide occurrences, magnetic bodies related to skarn bodies and related magnetic intrusions and will guide the interpretation of geological features related to vein-type mineralization.
Ximen’s Providence property covers several mineral occurrences and historic mines including the Freemont mine, where 2020 sampling returned values of 435 grams per tonne silver (12.7 ounces per ton) and 4.4 grams per tonne gold, with 0.22% lead (see release dated Oct 19, 2020). The property also contains massive sulphide mineralization that previously assayed 0.23% copper and 3.4 g/t silver (2018 grab sample). In addition, drilling by Ximen in 2020 on its ground adjoining the historic Providence mine intersected 178 grams per tonne silver over 0.7 meters (see news release dated February 22). This suggests a possible extension of the Providence deposit onto Ximen’s property. The historic Providence silver mine has recoded production of 1,368,075 ounces of silver, 5,896 ounces of gold, 402,690 pounds lead and 260,086 pounds of zinc from 10,426 tonnes mined (BC Minfile records).
Ximen’s Bud-Elk property covers the historic Morrison mine, which produced 7.15 kilograms of gold, 26.0 kilograms of silver and 10.7 tonnes copper from 2,647 tonnes (calculated grades are 2.7 grams per tonne gold, 9.8 grams per tonne silver and 0.4% copper). The property also lies 500 metres from the historic Motherlode mine, which produced 21,405,520 grams of silver, 5,390,837 grams of gold, and 34,915,323 kilograms of copper from 4,245,875 tonnes mined (BC Minfile). The Motherlode and Morrison are classified as skarn-type copper-gold deposits.
Porphyry copper-gold mineralization occurs at the Buckhorn and Moreen showings on the Bud-Elk property, as demonstrated by results from previous owners including 45.0 metres grading 0.57% Cu and 0.40 g/t Au from trenching at the Buckhorn, and 32 metres grading 0.23% Cu and 0.12 g/t Au at the Moreen.
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,
President, CEO and Director
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com