Vancouver, B.C., May 16, 2023 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) announces it has acquired the Perry Creek gold property of 8 claims covering 608.7 hectares, located approximately 22 km west of Cranbrook in southeastern British Columbia.
Photo of Ximen geologist at sample site on Perry Creek claims
“We are thrilled to announce the acquisition of the Perry Creek gold property, a significant addition to Ximen’s portfolio. The presence of multiple gold occurrences and the property’s location within the Kimberley Gold Trend highlight its tremendous potential. We are committed to conducting thorough exploration and verification work to unlock the true value of this property and further advance our goal of discovering and developing high-grade gold deposits. Ximen is excited about the opportunities that lie ahead on the Perry Creek claims,” states Anderson CEO.
The Perry Creek claims were acquired 100% from an independent vendor and are situated less than 1 km southwest of Ximen’s Quartz Mountain property. There are five known mineral occurrences on the Perry Creek property, four of which are primary gold occurrences. Historical records indicate the area was originally explored in 1915 with programs of trenching and drifting on several shafts on the Homestake claim group, which covered the Columbia and Homestake occurrences. Past workings at the Columbia occurrence consisted of the Scorgie tunnel and Columbia shaft, with attendant open-cuts (BC Minfile).
At The Homestake occurrence, previous diamond drilling in 1986 identified a silicified fault system anomalous in gold for at least 200 metres with a true width of approximately 7 metres; best result yielded 1.0 metre assaying 10.3 grams per tonne gold. In 1987, a sample assayed 7.8 grams per tonne gold. A 2.7-tonne bulk sample is reported to have yielded 27.7 grams of gold or 10.3 grams per tonne gold (BC Minfile records).
At The Columbia occurrence, a 1986 rock sample from a former shaft assayed 14.0 grams per tonne gold, and in 1987, trench samples from the Columbia shaft area yielded up to 12.6 grams per tonne gold and a rock sample assayed 22.4 grams per tonne gold (BC Minfile).
Perry Creek is the site of modern and historic placer gold workings, and lies within the Kimberley Gold Trend, which covers placer gold deposits on the Wild Horse River, Perry Creek and the Moyie River. Placer operations still continue on Perry Creek. The Kimberley Gold trend is marked by the St. Mary’s and Moyie faults cross-orogen faults and overlies the Vulcan basement tectonic zone which likely influenced structural development and fluid flow during Jurassic and Cretaceous folding, faulting and intrusion.
Photo showing present-day placer gold mining operation in Perry Creek valley
Ximen plans to relocate and sample the historic workings and conduct geochemical and geophysical surveys prior to trenching and/or drilling to further test the extensive gold-bearing vein and shear zones. An initial filed examination was conducted recently.
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