Vancouver, British Columbia–(Newsfile Corp. – February 4, 2021) – Ximen Mining (TSXV: XIM) (OTCQB: XXMMF) (FSE: 1XMA) continues to add to its extensive portfolio of precious metals properties in British Columbia. The latest acquisition, the Running Wolf gold property, is located 20 kilometers west of Cranbrook in the Fort Steele Mining Division in south eastern British Columbia.For more information, please view the InvestmentPitch Media “video” which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Ximen” in the search box.
To acquire its 100% interest in the 10 mineral claims, which cover 860 hectares, Ximen is paying $30,000 and issuing 200,000 shares. Management considers the Running Wolf acquisition to be a significant addition to its holdings in the Cranbrook Gold Belt.
Future work will focus on expanding the areas of known gold mineralization and related fault/shear structures, and exploration for additional lode or disseminated gold deposits.
The Running Wolf gold property adjoins Ximen’s Quartz Mountain properties, and lies within the Cranbrook Gold Belt, also known as the Kimberley Gold Trend, a zone that extends southwestward from the Northern Hughes Range, crossing the Rocky Mountain trench, into the western part of the Purcell Mountains.
Alluvial gold placer mining is estimated to have recovered 10 million ounces of gold from streams in the East Kootenay area centred on Quartz Mountain since discovery of gold in 1864, and mining has continued since. Exploration for lode gold sources to the alluvial placers has been ongoing for a century.
The Running Wolf claims cover three known mineral occurrences, including Rome & Valley, Running Wolf and Gold. Historic records indicate that at Rome & Valley, two or more large quartz veins occur in a fault zone and contain pyrite and galena. One vein has been traced 470 metres and varies in width from 0.6 to 7.6 metres.
Samples of mineralized vein material are reported to have assayed from 1.08 to 19.55 grams per tonne gold. Historic workings consist of five adits, with the main adit exposing 3 veins, each about 10 metres wide. Surface grab samples of the vein are reported to assay up to 35.0 grams per tonne gold. A drill hole from 1985 intersected the No.1 vein in a sheared quartzite and assayed 2.0 grams per tonne gold over 2.0 metres. At the Gold prospect, an alteration zone in quartz phyllite is reported to have assayed 0.24 grams per tonne gold over 3.5 metres.
Ximen’s original Quartz Mountain property covers important historical placer deposits on Sawmill creek and five mineral occurrences. At the Rice occurrence, quartz veins 0.75 to 1 metre wide are mineralized with pyrite, chalcopyrite and native gold. In 1973 and 1974, 1,481 tonnes were mined from surface showings and shipped to Trail, B.C. for smelting. From this, 14,945 grams of gold, 13,405 grams of silver, 1,307 kilograms of copper, 3,286 kilograms of lead and 1,481 kilograms of zinc were recovered.
In addition to the Kenville Gold Mine, Ximen Mining also owns 100% interests in 3 other precious metal projects located in southern BC., the Amelia Gold Mine and The Brett Epithermal Gold Project, and the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement, with the option partner making annual staged cash and stocks payments as well as funding the development of the project.
For more information, please visit the company’s website, www.XimenMiningCorp.com, contact Christopher Anderson, President and CEO, at 604-488-3900. For Investor Relations, contact Sophy Cesar, at 604-488-3900 or by email at [email protected].
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