Ximen Doubles Land Position by Acquiring All Contiguous Land Claims Surrounding Brett Gold Property, Vernon, BC
16 Juillet 2014 - 3:02PM
Ximen Mining Corp. (TSX-V:XIM) (OTCQX:XXMMF) (the "Company" or
"Ximen") is pleased to announce that it has signed an option
agreement with North Bay Resources Inc. (OTCQB:NBRI) to acquire the
Bouleau property which is adjacent to the Company's Brett property
located near Vernon, BC. The option allows the Company to acquire a
100% interest in 2,045 contiguous hectares with no NSR or work
commitments. The majority of the claims are in good standing until
2018.
The property covers highly prospective ground indicated by RGS
geochemical results and heavy mineral sampling results from various
operators working in the area in the late 1980's and early 1990's.
The property includes a variety of precious metals mineral
occurrences including the Boul (MinFile 082L-SW069), Siwash
(MinFile 082L-SW046) and Wedge (MinFile 082L-SW073)
instrusive-hosted low sulphidization epithermal Au-Ag quartz
carbonate vein prospects occurrences. Assay values up to 27 grams
per tonne gold and 180 grams per tonne silver are reported. The
Siwash showing hosts a large alteration zone with silica flooding,
chalcedonic quartz stockworks and hematitic and goethite staining
which is 3,000 by 750 by 150 meters in area.
North Bay Resources announced last year a completely new and
previously undiscovered gold zone on the western claims. A
successful Pilot HMC (Heavy Metal Concentrates) geochemical program
on the property was conducted. Among the very positive results, one
spectacular sample in particular ("NB-60") generated a great deal
of interest, not just due to its high assay value of 95.6 grams
(3.07 ounces) per tonne gold, but because the sample came from a
highly altered area in the Western Zone that has geological
similarities to the Brett occurrence. In addition to the high grade
and strategic location, the gold particles in this sample were
pristine, angular in shape, and with sharp edges that suggest they
are "low transport gold" and have not traveled very far. This
further suggests potential for a blind lode gold deposit close by,
similar to, or possibly an extension of, the nearby Brett
deposit.
During the 2013 field season, a second HMC program was commenced
to follow up on the previous findings along trend, and to further
evaluate the alteration zone and the area where sample NB-60 was
found during the 2011 sampling program. This program was concluded
in July 2013 with 46 samples collected and located an as yet
undiscovered alteration zone up slope and up ice from these recent
high gold values. Further work will be required to determine if
this newly discovered alteration zone is the cause of the highly
anomalous gold assays.
The 2013 HMC program has resulted in an expansion and further
delineation of the alteration zone found in 2011, and the discovery
of a completely new and previously undiscovered target area about
400 metres west of where sample NB-60 was taken. The results of
this HMC program are extremely positive and encouraging. At least 5
samples (NB-106, NB-107, NB-126, NB-137, and NB-138) confirmed and
further delineated the presence of highly anomalous gold particles
in the soil upslope from both NB-60 and the large alteration zone
discovered during the initial HMC program in 2011. The recently
concluded 2013 HMC project produced assays as high as 9.75 g/t
(sample NB-137) from the original target area. New and very
positive results downslope from the newly discovered alteration
zone, about 400m west and upslope from NB-60, produced high gold
values from three samples; NB-126 (8.0 g/t), NB-163 (2.29 g/t), and
NB-164 (2.53 g/t). These samples were all taken very close together
and point to this new target area upslope.
The Company believes that given the exploration results to date,
this acquisition is geologically compatible to the exploration
results received to date on the surrounding Brett property.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI
43-101 is responsible for the technical information contained in
this release.
Deal Terms
Under the terms of the option agreement, Ximen, as operator, can
acquire a 100% undivided interest by making cash option payments of
$300,000 over two years and issue $300,000 in Ximen shares over two
years. The option agreement is subject to TSX approval.
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in its two
projects, Gold Drop Project and Brett Gold Project located in
southern British Columbia. Ximen is a publicly listed company
trading on the TSX Venture Exchange under the symbol XIM, and is
listed on the Frankfurt, Munich, and Berlin Stock Exchanges in
Germany under the symbol 1XM and WKN number is A1W2EG as well in
the USA on the OTCQX under the symbol XXMMF.
On behalf of the Board of Directors, "Christopher R. Anderson."
Christopher R. Anderson, President, CEO and Director, Ximen Mining
Corp.
For further information, please contact Ward Kondas 604-488-3900
or by email at ward@ximenminingcorp.com.
This press release includes certain statements that may be
deemed "forward-looking statements". All statements in this
release, other than statements of historical facts, that address
future exploration drilling, exploration activities and events or
developments that the Company expects, are forward looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include exploitation and exploration
successes, continued availability of financing, and general
economic, market or business conditions.
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.
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