Vancouver, B.C., November 29, 2023 – Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the “Company” or “Ximen”) announces that it has completed its drill campaign for 2023 and demobilized equipment from the Amelia Gold project in Camp McKinney near Rock Creek in southern BC. The outdoor temporary camp was disassembled and demobilized with the onset of winter conditions.
The Cariboo-Amelia mine was BC’s first dividend paying gold mine. Over its 68-year history, the mine produced 81,602 ounces of gold and 32,439 ounces of silver from 112,254 tonnes milled (BC Minfile Records).
The mine is part of a 4-kilometer long system of gold-quartz veins and historic workings. Ximen is planning to continue testing this system, working outwards from the mined area.
Ximen completed eight NQ-size drill holes for a total of 2,064 meters testing the down-dip extension of the historic Cariboo-Amelia gold mine. The target vein was intersected in five holes (AM23-01, 3, 5, 7 and 8) between 30 and 45 meters below the lowest mine level and over a strike length of 150 meters.
The mineralized intercepts contain pyrite, sphalerite, galena +/- chalcopyrite and pyrrhotite. Hole AM23-07 intersected multiple zones. Hole AM23-08 intersected the vein within mineralized quartz stringer alteration zone. The vein consisted of “blue quartz” containing fine grained pyrite. The “blue quartz” is a local mine term for grey quartz that typically contains gold. Visible gold hasn’t been observed, but this sulphide mineral assemblage is the same as that reported to occur in the vein where it was mined historically. Core samples will be sent for analysis once the sampling is completed.
Abbreviations: Py: pyrite, Sp: sphalerite, Gn: galena, Cp: chalcopyrite; Po: pyrrhotite
Note: Reported lengths are core lengths not true widths.
Holes AM23-03, 04, 05 and 08 intersected a second mineralized vein about 50 meters south of the main vein that is also mineralized with sulphide minerals typically associated with high gold grades.
Holes AM23-02, 04 and 06 targeted the zone at greater depths but did not intersect the vein. It is likely that the vein has been displaced by faults similar to those which occur in the upper levels of the mine, where the vein is displaced a relatively short distance to the south by flat lying faults.
Overall, the results indicate there is excellent potential for more tonnes to be mined below the lowest level of the mine workings and that there is potential for additional material in parallel zones. A better understanding of the vein system has been gained, which will be used to select additional targets along strike.
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