VANCOUVER, British Columbia, Sept. 10, 2014 (GLOBE NEWSWIRE) -- Ximen Mining Corp. (TSX-V:XIM) (the "Company" or "Ximen") is pleased to announce that it has acquired 6 Crown Grants located near Greenwood, BC. The contiguous grants have been held by the same family for over 60 years and lie due south and adjacent to the Dentonia Mine property. Little exploration has been conducted on the property.
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The adjacent Dentonia Property hosts a strong, northeast-trending, east-dipping gold-bearing quartz vein which has been explored and developed intermittently since the late 1890's. Development work consists of 4 main shafts, with largely interconnected workings on 5 levels, a major cross-cut, and several smaller adits, shafts and surface workings. The most important of the historic workings are the Jewel shaft, which serviced the main (Jewel) ore body to a depth of 120 m, and the Enterprise cross-cut tunnel, which was driven east from Jewel Lake to intercept the base of the Enterprise ore body approximately 400 m to the north of the Jewel shaft. Total production from the Dentonia property is approximately 125,000 tonnes, at an average grade of 10.8 g/t Au and 64.6 g/t Ag. Most of the historical production was from the Jewel and Enterprise claims, during the periods 1912-16 and 1934-43, with relatively minor more recent production (1973-75, 1984-85) from the Denero Grande shaft. The vein trends approximately 020°/30-60°E, following a regional irregular fracture zone, and can be traced along strike for in excess of 1800 m and to depth for greater than 200 m. It remains open on strike to the south, and to depth. The vein is a low-sulfide vein, with sulfides occurring as disseminations, streaks and small pockets in a quartz gangue. Ore occurs in shoots along the vein structure. Historically, these shoots amounted to approximately 25% of the development length along the structure.
To acquire a 100% legal and beneficial interest in the property subject to a 2% NSR, Ximen will issue 150,000 common shares upon TSX Venture Exchange approval.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in its two projects, Gold Drop Project and Brett Gold Project located in southern British Columbia. Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, and is listed on the Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XM and WKN number is A1W2EG as well in the USA on the OTCQX under the symbol XXMMF.
On behalf of the Board of Directors,
"Ximen Mining Corp."
Ximen Mining Corp.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
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Source:Ximen Mining Corp.