Ximen Mining eyeing busy year of exploration at its British Columbia properties
Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) is looking at a busy year of exploration in 2019 as it revealed it has programs underway on multiple properties.
In Tuesday’s statement, the Vancouver-based company also said it had closed the previously announced flow through placing at $0.60 per share for gross proceeds of $405,000 for exploration at its British Columbia (BC) properties.
READ: Ximen Mining adds former producing British Columbia gold mine to portfolio
Concerning the recently announced deal to acquire the Kenville gold mine near Nelson, BC, the group is planning to compile details of historic work in a bid to define targets for possible trial mining.
The Kenville mine was first discovered in 1888 and mined intermittently until 1954 . It was the first hard rock gold mine in British Columbia, with recorded production of 2,029 kilograms (kg) of gold, 861 kg of silver, 23.5 tonnes of lead, 15 tonnes of zinc, 1.6 tonnes of copper and 37kg of cadmium from 181,395 tonnes processed.
Ximen on Tuesday also said that at its Brett property, also in British Columbia, it will apply this month to extend the historic mine drift along the trend of the Main Zone and conduct underground drilling.
A 291 tonne bulk sample was previously mined from the Main Zone, from which the average grade from the smelter was 27.74 g/t (grams per ton) gold and 63.7 g/t silver.
Ximen is also kicking off field work to generate targets at the recently acquired Providence property of 12,900 hectares near Greenwood, British Columbia.
This property surrounds the Gold Drop property, where GGX Gold Corp (CVE: GGX). is currently diamond drilling under an option agreement.
Providence covers 11 known mineral occurrences including the historic past producing Providence mine that produced 183 kilograms of gold, 42,552 kilograms of silver, 183 tonnes of lead, 118 tonnes of zinc from 10,426 tonned mined.
Generating targets
Geological reconnaissance and rock sampling are planned to further investigate the historic mine dumps initially identified. Soil geochemistry and trenching is then planned to generate drill targets.
For Kenville, Ximen entered into an option agreement with Don Althen, an arm’s length individual to the company, enabling the company to purchase all of Althen’s interest in the property.
It will pay Althen a total of 1.4 million shares and around nearly C$1.7 million in cash and debt settlements.
The Kenville property was the first underground lode gold mine in British Columbia, and was once the largest producer in the Nelson mining camp, according to the company.
There have been multiple new targets and veins discovered recently.
Contact Giles at [email protected]
Follow him on Twitter@Gile74
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/218692/ximen-mining-eyeing-busy-year-of-exploration-at-its-british-columbia-properties-218692.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).