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Ximen Mining Corp Drilling Update: Brett Epithermal Gold Project - Vernon BC

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Ximen Mining Corp (TSXV: XIM) has provided an update on hole 2 of its current drill program at the Brett epithermal gold project near Vernon, BC. Hole B24-02 was drilled to test down dip of a previous intercept in hole 04-06, which reported 11.35 g/t gold over 1.3 meters. The new hole encountered alternating units of volcanic flow and breccia, followed by bedded tuff and more volcanic flow.

Several intensely clay-silica altered zones with abundant pyrite mineralization and fault gouge were intersected, totaling 18.34 meters or 16% of the hole length. The altered zones are related to the Main Zone, with minor amethystine quartz occurring in the last meter correlating with the target intercept in Hole B04-06.

The Brett project covers 20,043 hectares of low-sulfidation epithermal-style gold mineralization. The project's objective is to extend the Main Zone to the southeast and at depth, and to test for extensions to the New Discovery Zone.

Ximen Mining Corp (TSXV: XIM) ha fornito un aggiornamento sul foro 2 del suo attuale programma di perforazione nel progetto aurifero epithermale di Brett vicino a Vernon, BC. Il foro B24-02 è stato perforato per testare la pendenza di un precedente intersezione nel foro 04-06, che ha riportato 11.35 g/t di oro su 1.3 metri. Il nuovo foro ha incontrato unità alternate di flusso vulcanico e breccia, seguite da tufo stratificato e ulteriore flusso vulcanico.

Innumerevoli zone alterate intensamente da argilla-silicea con abbondante mineralizzazione di pirite e fratture sono state intercettate, per un totale di 18.34 metri o il 16% della lunghezza del foro. Le zone alterate sono correlate alla Zona Principale, con una piccola quantità di quarzo ametistino che appare nell'ultimo metro in correlazione con l'intersezione obiettivo nel foro B04-06.

Il progetto Brett copre 20.043 ettari di mineralizzazione aurifera in stile epithermale a bassa solfazione. L'obiettivo del progetto è quello di estendere la Zona Principale a sud-est e in profondità, e di testare per estensioni alla Nuova Zona di Scoperta.

Ximen Mining Corp (TSXV: XIM) ha proporcionado una actualización sobre el agujero 2 de su actual programa de perforación en el proyecto de oro epitermaal de Brett cerca de Vernon, BC. El agujero B24-02 se perforó para probar la inclinación de una intersección anterior en el agujero 04-06, que reportó 11.35 g/t de oro sobre 1.3 metros. El nuevo agujero encontró unidades alternas de flujo volcánico y brecha, seguidas de toba estratificada y más flujo volcánico.

Se intersectaron varias zonas alteradas intensamente de arcilla-sílice con abundante mineralización de pirita y gouge de falla, sumando un total de 18.34 metros o el 16% de la longitud del agujero. Las zonas alteradas están relacionadas con la Zona Principal, con una pequeña cantidad de cuarzo ametistino que aparece en el último metro correlacionado con la intersección objetivo en el agujero B04-06.

El proyecto Brett cubre 20.043 hectáreas de mineralización de oro en estilo epitermaal de baja sulfidación. El objetivo del proyecto es extender la Zona Principal hacia el sureste y en profundidad, y probar extensiones a la Nueva Zona de Descubrimiento.

Ximen Mining Corp (TSXV: XIM)는 BC의 Vernon 근처에 있는 Brett 열수 금 프로젝트의 현재 시추 프로그램의 구멍 2에 대한 업데이트를 제공했습니다. B24-02 구멍은 04-06 구멍에서의 이전 교차점을 시험하기 위해 시추되었으며, 이 보고서에서는 1.3미터에 걸쳐 11.35 g/t의 금이 발견되었습니다. 새로운 구멍은 화산 플로우와 브레차의 교대로 나타나는 유닛을 발견하였고, 이후에는 층상 응회암과 추가적인 화산 플로우가 이어졌습니다.

피라이트 광물화와 단층 분쇄가 풍부한 강렬한 점토-실리카 변성 구역이 교차되어 총 18.34미터 또는 구멍 길이의 16%를 차지했습니다. 변성된 구역은 주요 구역과 관련이 있으며, 마지막 미터에서 발견된 소량의 자수정 석영은 B04-06 구멍의 목표 교차점과 상관관계가 있습니다.

Brett 프로젝트는 저황화 열수 스타일 금 광물화가 있는 20,043헥타르의 면적을 포함합니다. 이 프로젝트의 목표는 주요 구역을 남동쪽 및 깊이로 확장하고, 새로운 발견 구역의 연장을 시험하는 것입니다.

Ximen Mining Corp (TSXV: XIM) a fourni une mise à jour sur le trou 2 de son programme de forage actuel au projet d'or épithermal Brett près de Vernon, BC. Le trou B24-02 a été foré pour tester la dip de l'interception précédente dans le trou 04-06, qui a rapporté 11,35 g/t d'or sur 1,3 mètre. Le nouveau trou a rencontré des unités alternées de flux volcanique et de brèches, suivies de tuf stratifié et de plus de flux volcanique.

Plusieurs zones intensément altérées en argile-silicium avec une abondante minéralisation de pyrite et de débris de faille ont été interceptées, totalisant 18,34 mètres ou 16% de la longueur du trou. Les zones altérées sont liées à la Zone Principale, avec une petite quantité de quartz améthyste apparaissant dans le dernier mètre en corrélation avec l'interception cible dans le trou B04-06.

Le projet Brett couvre 20 043 hectares de minéralisation aurifère de type épithermal à faible sulfidation. L'objectif du projet est d'étendre la Zone Principale vers le sud-est et en profondeur, et de tester les extensions de la Nouvelle Zone de Découverte.

Ximen Mining Corp (TSXV: XIM) hat ein Update zu Bohrloch 2 seines aktuellen Bohrprogramms im Brett epithermalen Goldprojekt in der Nähe von Vernon, BC, bereitgestellt. Bohrloch B24-02 wurde gebohrt, um die geneigte Lage einer vorherigen Begegnung im Bohrloch 04-06 zu testen, das 11,35 g/t Gold über 1,3 Meter berichtete. Das neue Bohrloch stieß auf abwechselnde Einheiten von vulkanischem Gestein und Brekzie, gefolgt von geschichtetem Tuff und weiterem vulkanischem Gestein.

Mehrere intensiv von Ton-Silikat veränderte Zonen mit reichlich Pyritmineralisierung und Störungsbrei wurden durchbohrt und machen insgesamt 18,34 Meter oder 16% der Bohrlochlänge aus. Die veränderten Zonen stehen im Zusammenhang mit der Hauptzone, wobei im letzten Meter ein kleiner Anteil von amethystine Quarz vorkommt, der mit dem Zielinterzept im Bohrloch B04-06 korreliert.

Das Brett-Projekt umfasst 20.043 Hektar niedrig-sulfidiertes epithermales Goldmineralisierung. Ziel des Projekts ist es, die Hauptzone nach Südosten und in der Tiefe zu erweitern sowie nach Verzweigungen zur Neuen Entdeckungszone zu suchen.

Positive
  • Encountered several intensely clay-silica altered zones with abundant pyrite mineralization
  • Altered zones total 18.34 meters, representing 16% of the hole length
  • Minor amethystine quartz found correlating with target intercept from previous drilling
  • Brett project covers a large area of 20,043 hectares with multiple mineralized zones
Negative
  • No porphyry dike intersected, indicating the hole may have missed the Main Zone
  • Results are preliminary and require further verification

Vancouver, British Columbia--(Newsfile Corp. - October 10, 2024) - Ximen Mining Corp. (TSXV: XIM) (FSE: 1XM) (OTC: XXMMF) (the "Company" or "Ximen") provides an update on hole 2 of its current drill program at the Brett epithermal gold project near Vernon in southern BC.

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Photos of drill at hole B24-02

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Hole B24-02 has now been drilled from the same site as hole 1 just north of the Bonanza Zone. It was designed to test down dip of an intercept in hole 04-06, reported as 11.35 grams per tonne over a core length of 1.3 meters, hosted by volcanic tuff containing amethyst-bearing quartz calcite veinlets (see Figure 1 below).

Hole B24-02 encountered alternating units of volcanic flow and volcanic breccia to 74.67 m, then bedded tuff to 115.3 m, followed by volcanic flow with minor intervals of volcanic breccia to the end of the hole at 190.5 m. No porphyry dike was intersected, indicating that the hole may have passed just east of or beneath the Main Zone.

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Figure 1. Cross Section showing trace of B24-02 targeting below intercept in B04-06

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Several intensely clay-silica altered zones with abundant pyrite mineralization and fault gouge were intersected between 37.46 and 155.12 meters. The total length of these altered intervals is 18.34 meters, amounting to 16%. Abundant pyrite (10%) occurs from 115.3 to 116.4m and grey quartz fragments occur in the altered zone at 117.0 to 118.5 m. These altered zones are related to the Main Zone. Minor amethystine quartz occurs in the last meter of the hole in chlorite-epidote altered volcanic rock. This zone correlates with the target intercept in Hole B04-06.

The Brett project (20,043 hectares) covers low-sulfidation epithermal-style gold mineralization hosted in Eocene Penticton Group volcanic rocks. Epithermal-style gold mineralization was discovered in 1983, and a 291 tonne surface bulk sample was shipped to the smelter at Trail, BC in the 1990's that averaged 27.74 grams per tonne gold and 63.7 grams per tonne silver (Brett 2017 NI 43-101 report). Multiple zones of mineralization occur over a two kilometer strike, including both bulk-mineable and bonanza high grade styles. Ximen conducted LiDAR and airborne magnetic surveys over parts of the Brett property in 2022. Interpretation, 3D modeling and target refinement were then completed in preparation for the 2024 drilling program.

The overall objective of the drill program is to extend the Main Zone to the southeast and at depth, and to test for extensions to the New Discovery Zone (located east of the Main Zone).

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Map of Mineralized Zones at the Brett Project

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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
604 488-3900

Investor Relations: 604-488-3900, ir@XimenMiningCorp.com

About Ximen Mining Corp.

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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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226158

FAQ

What is the current status of Ximen Mining Corp's (XXMMF) drilling program at the Brett gold project?

Ximen Mining Corp has completed hole B24-02 of its current drill program at the Brett epithermal gold project near Vernon, BC. The hole was drilled to test down dip of a previous high-grade intercept.

What were the key findings from hole B24-02 in Ximen Mining's (XXMMF) Brett project?

Hole B24-02 encountered several intensely clay-silica altered zones with abundant pyrite mineralization, totaling 18.34 meters or 16% of the hole length. Minor amethystine quartz was found correlating with the target intercept from a previous hole.

What is the size and type of mineralization at Ximen Mining's (XXMMF) Brett project?

The Brett project covers 20,043 hectares of low-sulfidation epithermal-style gold mineralization. It includes multiple zones of mineralization over a two-kilometer strike, with both bulk-mineable and high-grade bonanza styles.

What are the objectives of Ximen Mining's (XXMMF) current drilling program at the Brett project?

The objectives of the drill program are to extend the Main Zone to the southeast and at depth, and to test for extensions to the New Discovery Zone, which is located east of the Main Zone.

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