Ximen Mining Diamond Drilling 178 G/T Silver in Drill Hole at Providence Property Greenwood BC
Ximen Mining Corp announced promising assay results from its drilling at the Providence property, totaling 1,172 meters across six holes. Significant results include 178 g/t silver and 75.5 g/t gold in drill hole PRO20-02, indicating potential extensions to the historic vein. Additional underground samples revealed 157 g/t silver and 1.49 g/t gold, suggesting a new target. The company has also granted 2 million stock options at $0.40. Further drilling is planned to confirm these results.
- Significant assay results: 178 g/t silver and 75.5 g/t gold from drill hole PRO20-02.
- Promising underground samples with 157 g/t silver and 1.49 g/t gold.
- Potential extension of Providence vein indicated by drilling results.
- None.
VANCOUVER, BC / ACCESSWIRE / February 22, 2021 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the "Company" or "Ximen") is pleased to announce assay results from drilling and underground sampling at its Providence property near Greenwood in southern British Columbia.
Photo of mineralized quartz vein exposed in historic adit that assayed 1.49 and 1.22 g/t Au.
A total of 6 holes totaling 1,172 meters were drilled on Ximen's Providence property in 2020. Results were received for the first 5 drill holes. Holes 1 to 3 were drilled to test for an extension of the vein mined in the historic Providence mine. Hole 4 was drilled to intersect a projected depth extension of a quartz veined zone that is exposed an historic mine adit. Holes 5 & 6 were drilled to test a projected depth extension of a surface massive sulfide showing. Significant results were obtained in holes 2 and 3 and the underground samples as shown in the table below. Assay results for hole 6 are still pending.
Hole ID | From | To | Length (m) | Silver (g/t) | Gold (g/t) |
PRO20-02 | 95.73 | 96.47 | 0.74 | 8.95 | 0.06 |
PRO20-02 | 96.47 | 96.47 | 0.3 | 75.5 | 0.04 |
PRO20-02 | 96.77 | 97.47 | 0.7 | 178 | 0.11 |
PRO20-02 | 97.47 | 97.87 | 0.4 | 2.5 | 0.04 |
PRO20-02 | 97.87 | 99.25 | 1.38 | 17.6 | 0.01 |
PRO20-03 | 110.85 | 111.73 | 0.88 | 5.54 | 0.04 |
PRO20-03 | 111.73 | 112.56 | 0.83 | 94.9 | 0.06 |
The elevated silver results from Holes 2 and 3 are considered promising for a potential extension of the Providence vein to the northeast of the historic Providence mine, which was a prolific silver producer. The intercepts consist of highly foliated, altered and mineralized sections of the cores. Further drilling will be required to further test these intercepts.
Results were also received for two underground chip samples taken across a quartz vein that is exposed in an historic adit that was discovered in 2018. The adit is not documented in any historic reports. The vein is 5 centimeters thick where sampled and is mineralized with coarse masses of pyrrhotite with minor sphalerite and pyrite. Its orientation and mineralization are different from the Providence silver vein, so the structure is considered as a separate target from the main Providence vein.
Mine Sample | Silver (g/t) | Gold (g/t) |
V109063 | 157 | 1.49 |
V109064 | 32 | 1.22 |
Analyses disclosed in this release were conducted by ALS Global - Geochemistry Analytical Lab in North Vancouver, BC, Canada. ALS is an independent, fully accredited commercial laboratory. Gold was determined by the fire assay method using a 50-gram sample weight and ICP finish, with over-limits checked using a 50-gram sample weight and gravimetric finish. Other metals were analyzed as part of a 48-element package using a four-acid digestion and determination by ICP-MS. Over-limits for silver were determined by the fire assay method using a 50-gram sample weight and ICP finish, and over limits for silver, lead, zinc and copper by specific four-acid digestions with ICP-AES finish for high grade materials.
The Company has granted 2,000,000 stock options at an exercise price of
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
Investor Relations:
Sophy Cesar
604-488-3900
ir@XimenMiningCorp.com
About Ximen Mining Corp.
Ximen Mining Corp. owns
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.
SOURCE: Ximen Mining Corp.
View source version on accesswire.com:
https://www.accesswire.com/630818/Ximen-Mining-Diamond-Drilling-178-GT-Silver-in-Drill-Hole-at-Providence-Property-Greenwood-BC
FAQ
What were the assay results for Ximen Mining Corp's drilling at the Providence property?
How many holes were drilled at the Providence property by Ximen Mining Corp?
What are the key findings from the underground sampling at Providence property?
What stock options were granted by Ximen Mining Corp?
What is the significance of the assay results for Ximen Mining Corp's stock symbol XXMMF?
