Ximen Transferring Multi-Year Work Permit for Drilling and Trenching
27 Fevereiro 2014 - 11:02AM
Ximen Mining Corp. (TSX-V:XIM) (the "Company" or "Ximen") is
pleased to announce an update on its 100% owned Brett Gold Project
situated in the North Okanagan region of Southwest British Columbia
approximately 29 kilometers West of Vernon.
The Vendor of the property, Running Fox Resource Corp. currently
holds an approved, multi-year, area-based Notice of Work permit
from the Ministry of Energy and Mines for surface exploration on
the Brett property. The permit covers excavator trenching and
diamond drilling (22 drill sites and up to 35 drill holes). This
permit is valid until September 17, 2016 and is transferrable to
Ximen Mining Corp. Ximen has initiated the process of transferring
the exploration permit into the company's name.
The Brett Gold Property
One of the largest Gold
Bearing Epithermal systems in southern British Columbia
which has produced multiple bonanza grade drill hole
results.
To date, the Main Shear Zone has been traced for a strike length
of over 1300 meters and down dip to a depth of 150 meters (possibly
as deep as 500 meters, based on a single hole drilled on the
neighboring property) and is open in on-strike and down dip. Based
on the review of all available data, the Brett property hosts
epithermal style gold mineralization containing coarse gold and has
excellent potential of hosting an economically viable gold
deposit.
The last drill program on and around the Main Shear zone at the
Brett was in late 2004 and produced Visible Gold in 15 of the 17
holes drilled. Five shears zones have been identified on the
property through drilling and perhaps up to an additional 15 more
shear zones traced via surface work. Ximen has been working over
the last few weeks gathering all of the historic data on the
property, and compiling this information into an up-to-date digital
database. Previous work includes in excess of 12,000 m of diamond
drilling (128 holes) and almost 3000 m (53 holes) of rc drilling.
Once the database is completed over the next few weeks and all of
the previous information can be analyzed and interpreted, the
company will have a better understanding of the nature of the
epithermal system and will then be in a position to produce an
execution plan for the 2014 season.
In 1996 a small (291 tonne) bulk sample, from the RW vein and
Main Shear Zone, was shipped to Trail and returned an average grade
27.74 gms Au/tonne and 63.7 gms Ag /tonne. The Gold price at the
time was approximately $380.00 / ounce.
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Work was stopped in late 1996 and the property was tied up in
litigation for several years.
The land package that has been assembled is over 2,700 hectares
and is located in proximity to several mills, in particular,
Kinross' Kettle River Operations mill which is currently operating
at about half capacity and looking for additional
feed.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI
43-101 is responsible for the technical information contained in
this release.
XIMEN MINING CORP. Per: "On behalf of the
board"
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.
Statements in this press release, other than purely historical
information, including statements relating to the Company's future
plans and objectives or expected results, may include
forward-looking statements. Forward-looking statements are based on
numerous assumptions and are subject to all of the risks and
uncertainties inherent in resource exploration and development. As
a result, actual results may vary materially from those described
in the forward-looking statements.
CONTACT: For more information, please contact:
Ximen Mining Corp.
604-488-3900
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