Ximen Mining Corp. [XIM-TSXV; XXMMF-OTCQB] said Wednesday September 11 that its option partner New Destiny Mining Corp. [NED-TSXV] has begun drilling at its Treasure Mountain silver property near Tulameen, British Columbia, close to the Coquihalla Highway about 150 km east of Vancouver.
Ximen is a B.C.-focused company which has a 100% interest in all three of its precious metals projects in the southern part of the province. The company’s two gold projects are the Gold Drop and Brett Epithermal. Ximen also owns the Treasure Mountain Silver Project, which lies adjacent to Nicola Mining Inc.’s [NIM-TSXV; HUSIF-OTC] Treasure Mountain property, site of the former Treasure Mountain silver-lead-zinc mine.
Currently, Ximen has Treasure Mountain optioned to New Destiny for staged cash and stock payments (details were unavailable at press time).
The Treasure Mountain property covers 10,700 hectares of geologically prospective ground located 30 kM east of Hope. The property hosts at least seven gold, silver, lead-zinc, and or copper occurrences in various regions. These include gold-quartz vein, polymetallic veins and porphyry-type showings.
Ximen said diamond drilling commenced with the first hole at the Superior (Lucky Todd) area, one of at least four holes to be drilled at this prospect. Drilling is targeted at the mineralized zones exposed in trenches completed earlier this season.
Rock sample geochemical results from the Superior (Lucky Todd) prospect ranged up to 1.6% copper, 0.87 g/t gold and 109 g/t silver in one sample, and 0.36% copper and 3.99 g/t tonne gold in another. All samples were chip samples of varying widths between 0.3 and 1.5 metres.
Ximen said New Destiny will continue to examine other known historic prospects in the area, including the Railroad and Jim Kelly Creek areas. Rock samples from 2019 trenches at the Railroad ranged up to 1.06% copper and 264 g/t silver in one sample, and 0.95 g/t gold, 0.9% zinc and 0.4% lead in another sample.
At Jim Kelly Creek, a grab sample from the Superior/John Bull prospect returned results of 11.3 g/t gold in 2018. Other known copper-gold prospects in the Jim Kelly Creek area include Spokane, Marsellaise and Gold Mountain.
Ximen shares were unchanged on Wednesday at 42 cents. The shares are trading in a 52-week range of 14 cents and 86 cents. New Destiny shares eased 23% or $0.03 to 10 cents. The shares trade in a 52-week range of $0.and 25 cents.
Ximen recently entered into an option agreement to acquire the Kenville gold mine near Nelson, B.C.
Discovered and staked in 1888, Kenville was mined intermittently until 1954, generating recorded production of 2,029 kilograms of gold, 861 kilograms of silver, 23.5 tonnes of lead, 15 tonnes of zinc, 1.6 tonnes of copper and 37 kilograms of cadmium from 181,395 tonnes processed.
The property is located 8 km west of Nelson and is accessible by paved road. It is also connected to the power grid. The existing infrastructure includes mining equipment, offices, mechanic shop, core storage and accommodation.
In a recent update, the company said the main focus of activities is currently updating the permits for underground operations to allow the exploration decline and planned diamond drilling program to proceed.