Ximen's Sample Results From the Exploration Program on Gold Drop Property, Greenwood, BC
24 Juillet 2014 - 10:44PM
Ximen (TSX-V:XIM) (OTCQX:XXMMF) (Frankfurt:1XM) has received the
results for the first batch of samples from its exploration program
on the Gold Drop property near Greenwood. Of the 40 samples
collected, 9 returned values greater than 10 g/t Au, to a maximum
of 56.2 g/t Au over a 0.55 m true thickness. An additional 13
samples returned results greater than 1 g/t Au, but less than 10
g/t Au. A complete tabulation of analytical results follows.
All of the samples were collected from the Gold Drop-North Star
vein system, from historic workings or from new exposures created
by the company's excavator trenching program. To date, only the
(the Upper North Star) has been tested by excavator trenching. The
company is pleased with these initial rock sample results.
Exploration, including trenching, is ongoing to explore other
targets on the property.
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Sample |
Sample |
Au |
Total Au |
Ag |
Ag |
|
|
Type |
Width |
ppb |
g/mt |
g/t |
g/t |
Gold Drop
vein |
|
m |
FA-AA |
FA-MeT |
AR-MS |
FA-Gra |
6251 |
Upper Gold Drop adit |
chip |
0.66 |
> 10000 |
33.6 |
> 100 |
164 |
6252 |
Upper Gold Drop adit |
chip |
0.60 |
> 10000 |
43.6 |
> 100 |
141 |
6253 |
Upper Gold Drop adit |
chip |
0.37 |
1380 |
|
9.7 |
|
6254 |
Upper Gold Drop adit |
chip |
0.52 |
1280 |
|
9.4 |
|
6255 |
Upper Gold Drop adit |
chip |
0.35 |
1370 |
|
6.0 |
|
6256 |
Upper Gold Drop adit |
chip |
0.85 |
252 |
|
2.9 |
|
6257 |
Upper Gold Drop adit |
grab |
|
1190 |
|
3.9 |
|
6258 |
short prospect drift |
grab |
|
2560 |
|
28.3 |
|
6259 |
short prospect drift |
grab |
|
> 10000 |
n/a |
92.0 |
|
6260 |
short prospect drift |
chip |
0.50 |
7550 |
7.1 |
78.7 |
|
6287 |
short prospect drift |
grab |
|
> 10000 |
26.5 |
67.1 |
|
6288 |
short prospect drift |
grab |
|
> 10000 |
35.2 |
82.7 |
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North Star
vein |
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|
6265 |
Ximen trench |
chip |
1.00 |
52 |
|
1.2 |
|
6266 |
Ximen trench |
grab |
|
9070 |
7.3 |
47.5 |
|
6270 |
Ximen trench |
chip |
0.40 |
6100 |
5.4 |
27.9 |
|
6271 |
Ximen trench |
chip |
0.37 |
104 |
|
2.2 |
|
6272 |
Ximen trench |
grab |
|
> 10000 |
55.4 |
> 100 |
186 |
6273 |
Ximen trench |
grab |
|
239 |
|
2.8 |
|
6274 |
Ximen trench |
float |
|
979 |
|
5.4 |
|
6275 |
Ximen trench |
chip |
0.60 |
< 5 |
|
0.8 |
|
6282 |
Ximen trench |
channel |
1.60 |
174 |
|
2.7 |
|
6283 |
Ximen trench |
channel |
0.50 |
64 |
|
0.9 |
|
6284 |
Ximen trench |
channel |
0.50 |
108 |
|
0.9 |
|
6285 |
Ximen trench |
channel |
0.55 |
> 10000 |
56.2 |
> 100 |
259 |
6286 |
Ximen trench |
grab |
0.05 |
> 10000 |
16.8 |
79.5 |
|
6261 |
Lower North Star adit |
chip |
|
2740 |
|
24.3 |
|
6262 |
Lower North Star adit |
grab |
|
6460 |
7.2 |
45.5 |
|
6263 |
pit 2 dump |
grab |
|
4250 |
2.4 |
49.8 |
|
6264 |
pit 2 |
chip |
2.50 |
230 |
|
3.2 |
|
6289 |
pit 2 |
grab |
|
2050 |
|
32.6 |
|
6281 |
pit 2 |
channel |
0.80 |
1820 |
|
13.2 |
|
6267 |
pit 5 |
grab |
|
< 5 |
|
1.1 |
|
6268 |
pit 5 |
grab |
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< 5 |
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0.5 |
|
6269 |
pit 5 |
grab |
|
34 |
|
0.3 |
|
6277 |
pit 6 |
chip |
0.60 |
45 |
|
0.7 |
|
6278 |
pit 6 |
grab |
|
8 |
|
0.4 |
|
6279 |
pit 6 |
grab |
|
253 |
|
7.5 |
|
6280 |
raise |
channel |
1.65 |
< 5 |
|
1.1 |
|
6290 |
raise |
grab |
|
> 10000 |
n/a |
88.3 |
|
6276 |
outcrop sample |
chip |
0.20 |
< 5 |
|
0.3 |
|
The Upper North Star Vein has now been traced, intermittently in
outcrop and in historic pits, for a strike length of 315
m. The Ximen trench exposes the vein, continuously along
strike, for 40 metres. In this exposure, the vein varies in
true width from several 10's of centimeters up to 2 m. It is a
massive, low-sulfide quartz vein, with local patchy galena,
chalcopyrite and possible tellurides.
Samples from the underground workings at the Upper Gold Drop
adit were collected from areas of historic mining, from the base
and margins of the historic stopes and raises. Analytical results
confirm reported historically mined grades.
In addition to the above samples, 13 samples were collected from
a 22.5 m long exploration drift that tests the Upper North Star
vein approximately 2 m vertically below the southern end of the
Ximen excavator trench. Samples were channel samples collected
across the width of the vein, at approximately 2 m intervals along
the drift. The vein averages 0.8 m true width in the
exploration drift, and ranges up to 2.8 m in width. Results of the
underground sampling were lower than the above surface samples,
returning a maximum of 2.06 g/t Au over a vein width of 0.8
m.
Samples described in the above table as channel samples were
collected across the width of the vein, using a micro-blaster rock
breaker. Chip samples were collected across the width of the vein,
using a hammer and chisel. Sample width listed in the table
represents true width of the vein, where sampled. Analytical work
for Ximen's 2014 work program is being completed by Actlabs, at
their accredited Kamloops-based facility (ISO 9001:2008 accredited,
ISO 17025 – pending). Ximen's analytical protocol has been designed
to mitigate potential nugget gold issues, to provide representative
gold analyses, and to provide multi-element information which may
help understand zoning within the system. Large samples are
collected in the field (2 – 7 kg). At the laboratory, the entire
sample is finely crushed (90% passing 2 mm screen), then a 1 kg
split of the crushed sample is pulverized to 95% passing 105
microns. All samples are tested for gold, using Fire Assay/AA
finish on a 30 gm sample of pulverized material. All samples are
also tested for a multi-element ICP/MS suite following aqua regia
digestion. For all samples that return > 4 ppm Au based by
FA/AA, metallic gold assays are completed on 500 gm samples of
pulverized material. Samples returning > 100 ppm Ag are assayed
by Fire Assay – Gravimetric finish.
The technical content of this news release has been approved by
Patrick Forseille, P. Geo., a Qualified Person as defined by NI
43-101.
Financing Announced
The Company further announces that it has arranged non-brokered
private placement consisting of 1,818,181 units at a price of $0.55
per unit in the capital stock of the Company for gross proceeds of
$1,000,000.
Each Unit will consist of one common share and one-half of one
non-transferable common share purchase warrant. Each full Warrant
will entitle the holder to purchase one further common share of the
Corporation at the exercise price of $1.00 per Warrant Share for a
period of 12 months from the closing date of the private placement.
Finders' fees may be payable up to 8% and finders warrants of up to
8% may be payable on the financing. Closing of this placement is
conditional upon approval of the TSX Venture Exchange.
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.
CONTACT: Ward Kondas
604-488-3900
ward@ximenminingcorp.com
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