Vancouver, B.C., November 30, 2022 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) announces that during the 2022 field season it conducted airborne LIDAR and Magnetic surveys at its Amelia property near Rock Creek in southern British Columbia.
The Amelia property covers the historic Cariboo-Amelia gold mine in Camp McKinney near Rock Creek, BC in the Greenwood Mining Division. A total of 8 square kilometers were covered by each of the magnetic and LIDAR surveys. The LIDAR survey included orthophotos and data were collected with a Phoenix Ranger Lidar scanner via a manned helicopter. The magnetic survey was flown at 50m spaced flight lines using a DRONE-MAG system, which consists of a multi-rotor UAV platform with a GSMP-35U potassium vapor magnetometer magnetometer, and GSM-19 Overhauser base stations.
The Amelia property covers historic Camp McKinney and the Cariboo-Amelia gold mine. The Cariboo gold vein was discovered in 1887. Production at the mine started in 1894 and continued until 1903. The vein terminated to the east in a fault. In 1957, an extension was discovered by surface diamond drilling and the mine was reactivated. Production continued until 1962. The Cariboo-Amelia mine produced 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc from 112,254 tonnes milled (BC Minfile). The average recovered gold grade was 24.68 grams per tonne gold.
The general area, originally known as Camp McKinney, is host to fifteen polymetallic and precious metal quartz vein, skarn and placer gold mineral occurrences on the property. The main vein, the Cariboo or McKinney vein, is a gold-quartz vein hosted in metamorphic rocks of the Paleozoic Anarchist Schist. The vein is offset by several north-trending faults where it was mined. Other veins include the Wiarton and Eureka veins, which are possible eastern and western extensions of the Cariboo vein. Nearby parallel veins include the Minnie Ha Ha, Dolphin and Sailor veins. Further out are the Anarchist vein to the southwest, and the Fontenoy vein to the east, which strike at high angle to the Cariboo vein.
Cariboo-Amelia Mine 3D Model
In 2022, Ximen started to re-interpret the geological structure of the mine area, aided by 3D modeling of the vein and cross-fault structures. A patchwork of small geological, geochemical and geophysical surveys are being compiled using GIS. The results of this work together with the new Magnetic and LIDAR surveys will be used for generating targets for exploration drilling. The magnetic results will be used to interpret the distribution of rock types beneath cover and identify possible de-magnetized zones associated with mineralization. The LIDAR will be used to identify fault structures and to provide a detailed topographic base.
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.
Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by National Instrument 43-101.
On behalf of the Board of Directors,
Christopher R. Anderson,
President, CEO and Director
Investor Relations: Sophy Cesar, 604-488-3900, ir@XimenMiningCorp.com