VANCOUVER, BC / ACCESSWIRE / October 4, 2023 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") announces that it has conducted an initial interpretation of results from a LiDAR survey completed at its Brett Property, located near Vernon in southern British Columbia.
The Brett epithermal gold property, located west of Vernon in southern B.C., is one of Ximen's prime exploration assets. Exploration to date has identified a low-sulphidation epithermal gold (+ silver) deposit with vein-hosted and disseminated mineralization.
A helicopter-borne LiDAR survey was completed over an area of 54 km2 at the Brett property. The survey resulted in two products: a digital elevation model (DEM) and an orthophoto mosaic. The purpose of the survey was to obtain a high-resolution topographic base and updated orthophotos of the area since the wildfires. The DEM was used to identify lineaments related to geological and geomorphological features.
Lineaments were identified from the DEM that correspond to topographic lows. Several sets of lineament orientations were identified, including prominent NW-SE, NE-SW, N-S, and WNW-ESE sets. The largest features identified are the Whiteman Creek lineament (WNW-ESE) that coincides with the mapped Whiteman Creek fault and a NW-SE lineament south of the Whiteman Creek. Past exploration at the Brett deposit shows that the orientation of the gold mineralization is NW-SE. Therefore, NW-SE lineaments in proximity to the Brett area are considered priority for future exploration. The fracture/fault pattern determined by lineament analysis suggests that the Whiteman Creek fault may be a first-order structure with gold the mineralization controlled by secondary NW-SE trending structures.
A prominent small-scale WNW-ESE trending fabric was also evident on the dataset, which is interpreted as glacial striae. In addition, infrastructure features including logging roads and previous exploration workings can be seen on the LiDAR even when obscured by vegetation.
The high-resolution orthophoto mosaic provides an excellent base to locate outcrop and landslides and shows that more than 50% of the area was affected by wildfires.
Further exploration drilling from surface and underground are planned by the Company to advance the project. The Company's efforts have been hampered over recent years due to the pandemic, wildfires and now due to the access road having been washed out during spring 2023 flooding.
Ximen believes the Brett property has high potential for discovery of an economic gold deposit due to the fact that bonanza-grade vein-hosted and low-grade, bulk-mineable disseminated epithermal styles of gold mineralization are present in multiple zones over a 2 kilometer square area.
Since acquiring the property, Ximen conducted surface drilling programs in 2014 and 2016. These programs discovered new gold-bearing vein zones, with results including 34.18 g/t Au over 0.9 m, 16.7 g/t Au over 1.5 m, 18.95 g/t Au over and 1m, and 13.35 g/t Au over 0.58 m. Large intervals of disseminated mineralization were also intercepted, including 1.77 g/t Au over 31m, 1.88 g/t Au over 16.55m and 0.82 g/t Au over 33m.
Samples collected by Ximen in 2014 were analyzed by Activation Laboratories Ltd. (Actlabs) in Kamloops, B.C. Actlabs is an ISO 17025 accredited laboratory. Samples were analysed for gold by Fire Assay with AA finish on a 30 gram sample. Samples that returned greater than 2 ppm Au by FA/AA were subsequently tested by metallic gold assay on a 500 gram sample of pulverized material.Other elements were determined by a multi-element suite using ICP-MS, and for mercury by cold vapour-FIMS.
Samples collected by Ximen in 2016 were submitted to ALS Canada Ltd. and analyzed for gold, silver, and a 32-element package by ICP analysis. This ALS facility is certified to standards within ISO 9001:2008 and has received accreditation to ISO/IEC 17025:2005. Analyses for gold were by Fire Assay and Inductively Coupled Plasma - Atomic Emission Spectrometry (ICP-AES). Silver and other elements were analyzed in a multi-element package using four-acid digestion and determination using ICPAES. Selected samples were also analyzed for gold by Fire Assay - Atomic Absorption Spectroscopy (AAS). High grade gold samples were analyzed for gold by Fire Assay and Gravimetric Finish and re-analyzed for silver by four-acid and ICP-AES.
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"
Christopher R. Anderson,
President, CEO and Director
Investor Relations: 604-488-3900, ir@XimenMiningCorp.com
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen`s two Gold projects, The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.
Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900
SOURCE: Ximen Mining Corp.
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