November 20, 2024

Press Release

Ximen Mining Corp Drilling Intersects 16.30 g/t Gold on McKinney Vein Extension at its 100% Owned Amelia Gold Property — Camp McKinney BC

Vancouver, B.C., November 20th, 2024 – Ximen Mining Corp. (TSX.v: XIM) (FSE: 1XM) (OTC: XXMMF) (the “Company” or “Ximen”) is pleased to provide a summary of results from its drilling program at the Amelia Gold project in Camp McKinney near Rock Creek in southern BC.


Figure 1.
Longitudinal view of Cariboo-Amelia mine showing vein model and drill holes (looking North)

Drilling was done to test the extension of the historic Cariboo-Amelia gold mine in Camp McKinney in the Greenwood Mining Division, BC. The Amelia Gold mine drilling program was completed late last year, and core sampling and analyses were done this year.  Eight NQ-size drill holes were completed for a total of 2,064 meters.  The target vein was intersected in five holes (AM23-01, 3, 5, 6, 7 and 8) between 30 and 45 meters below the lowest mine level and over a strike length of 150 meters (Figure 1).  Highlights of analytical results, recently received, are provided in the table below.

The best result was from hole AM23-03, which intersected 16.3 grams per tonne gold and 79.9 grams per tonne silver, with 1.88% lead and 1.05% zinc, over a length of 0.26 meters.  Elevated silver intercepts were obtained in holes 07 and 08, and elevated lead and/or zinc were intercepted in holes 06, 07 and 08.  The holes with elevated pathfinder elements Ag, Pb and Zn indicate that the gold mineralized zone was likely intersected.  The lower gold values in these holes could be a product of a nugget effect due to coarse grained gold, which is characteristic of this type of orogenic gold-quartz vein deposits.


Results for Amelia Gold Property 2023 Drill Holes

Abbreviations: m-meters, g/t = grams per tonne, % = percent, Py =  pyrite, Sp = sphalerite, Gn – galena, Po = pyrrhotite.  Lengths are core length not true width; true width cannot be determined at this time.

Overall, the results are positive and indicate that the McKinney vein and gold mineralization persists to the east and to depth from the areas mined historically.  Additional drilling is being planned to test the eastern and western extents of the vein system and to test for parallel veins.

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 situated within a 4-kilometer system of gold-quartz veins and historic workings.


Drill core showing vein intercept in Hole AM23-03 with vein (top) and close-up showing pyrite, galena, sphalerite and chalcopyrite mineralization (bottom)

Overall, the results are positive and indicate that the McKinney vein and gold mineralization persists to the east and to depth from the areas mined historically.  Additional drilling is being planned to test the eastern and western extents of the vein system and to test for parallel veins.

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 situated within a 4-kilometer system of gold-quartz veins and historic workings.


Map view of Amelia project showing 4 kilometer extent of gold-quartz vein system

Drill core was logged for geological features on-site and half-core samples were cut and bagged at a core facility located in Greenwood, BC.  Sealed bags of sample were then delivered to the laboratory by company representatives.  The analyses quoted above were performed by ALS Laboratories in North Vancouver, BC., which is an independent ISO certified and accredited commercial laboratory.  Analyses for gold in rocks and drill core were done by fire assay with AA finish (Atomic Absorption Spectrometry) on 30 gram subsamples (ALS code Au-AA25). Analyses for silver, copper, lead and zinc and 44 other elements was completed by four acid digestion with ICP-MS (Inductively Coupled Plasma – Mass Spectrometry) finish (typically a 0.25 gram sub-sample) following ALS code MEMS-61.  Quality control was monitored from the results for certified reference standards and blank material that were inserted into the sample stream at a frequency of every 20 samples each.

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
604 488-3900

Investor Relations: 604-488-3900, ir@XimenMiningCorp.com


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