Ximen advances B.C. gold mine towards production

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Ximen Mining Corp. [XIM-TSXV; XXMMF-OTCQB; 1XM-FSE] said Friday Mar20 that it is set to advance the historic Kenville gold mine near Nelson, British Columbia, towards production.

The move comes after the company recently completed the acquisition of several claim groups in the Nelson mining camp that are located near the Kenville Mine. The company said a total of 13,667 hectares have been acquired from seven separate groups. As a result, Ximen’s total holding in the Nelson area now stands at approximately 14,234 hectares.

“Now that we have completed this part of our acquisition plan, we will move forward at Kenville as planned to start mining,” said Ximen Mining CEO Christopher Anderson.

“As early as next week we’ll have boots on the ground, and the crew will begin refurbishing the Kenville Mine portal before building the portal for the new decline,” he said. “As soon as this part is finished, we can start cracking rock.”

Ximen shares were unchanged at 38 cents on the news and now trade in a 52-week range of  26 cents and 84 cents.

The Kenville Gold Mine has played a major role in the rich history of B.C. gold mining.

It was the first underground lode gold mine in British Columbia and was once the largest producer in the Nelson Mining Camp. “There have been multiple new targets and veins discovered in the last several years and Ximen is looking forward to the potential opportunity that exists ahead,” Anderson said.

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.

The mine deposit consists of multiple, gold-silver quartz veins hosted by diorite. Between 2007 and 2008, 13,000 metres of diamond drilling was completed. The target was previously untested areas southwest of the historic mine. Detailed sampling was conducted within the mine on the 257 level.

There are six levels within the mine footprint. But only the 257 remains open and accessible.

Based on the mine sampling and drill hole information available at the time, new zones of gold mineralization were identified. According to a 2009 estimate, the project contains a Measured and Indicated Resource of 16,289 ounces of gold. On top of that is an Inferred Resource of 356,949 ounces of gold.

Ximen has said it considers the historic mineral resource estimate to be relevant and reliable. It also said a significant amount of diamond drilling was conducted between 2009 and 2012 (following the resource estimate). At least four new veins were identified with potential strike lengths of over 700 metres.

In addition to the historic gold mine, elsewhere on the property, historic soil geochemical surveys and results of scout drilling have indicated the potential for porphyry-type copper-molybdenum-silver-gold mineralization.

Ximen owns a 100% interest in all three of its B.C. precious metal projects. They include the Gold Drop and Brett gold projects. Ximen also owns the Treasure Mountain Silver Project, which is adjacent to the past-producing Huldra Silver Mine near Hope, southwest B.C. The company recently acquired control of the Kenville Mine and The Amelia Gold Mine in the centre of the McKinney Gold Camp.

At the Brett epithermal gold project near Vernon, B.C., the company is planning a 200-metre extension of the underground drift along the Main Zone and underground diamond drilling of the Main and parallel zones. Ximen said it is waiting for the Ministry of Mines to complete its review and approval of this work program.

As well, field exploration work is planned, including surface rock sampling and geophysics.


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