VANCOUVER, British Columbia, Sept. 11, 2014 (GLOBE NEWSWIRE) -- Ximen Mining Corp. (TSX-V:XIM) (the "Company" or "Ximen") is pleased to announce that a diamond drill has been mobilized to the Brett epithermal gold property near Vernon and that the drill program is underway.
A minimum of 3000 m of drilling is planned in 15 holes. Core will be HQ in size for vein-style targets in the vicinity of the Main Zone, and NQ2 in size for exploration holes testing geophysical, geological and geochemical targets elsewhere on the property.
"We are confident that our recent comprehensive field program conducted by our technical team, has generated drill targets designed to expose the potential of this property. We have combined prospecting and mapping surveys with magnetic and IP surveys including geological modelling which includes all of the historical drill data and previous field work to establish the best possible drill targets."
Christopher Anderson – President & CEO
The drill program underway today will target two significant areas on the property. The first part will consist of approximately 1500-2000 m of drilling to test the high-grade vein targets in the vicinity of the Main Zone. Specifically, drilling will test the Amethyst Dyke zone located 50-100 m east of the Main Zone. Strong alteration, local quartz veining, favourable trace element geochemistry and anomalous gold values occur in outcrop and in limited historic drilling, over a 350 m strike length along this north-northwest trending structure. The highest grade gold intersection from historic drilling on the property, 4.9 oz/t Au over 1.3 m, is from the single deep drill hole along the Amethyst Dyke zone. This intersection remains untested by any subsequent drilling on the property.
Also in the vicinity of the Main Zone, drilling will test an area of strong silicification with anomalous gold and trace element geochemistry in soils and rock. This area, the Border Zone, is located 250 m west of the Main Zone and is also untested by previous drilling on the property.
The second part of the program will target the newly discovered magnetic low anomaly that measures 1.1 by 1.1 Km in size and is still open to the North. The IP survey,that was completed a couple weeks ago defined 2 strong IP chargeability anomalies with in the Mag Low which is west of the Garben –bounding Fault. These chargeability anomalies occur in an area of low topographic relief, 500 to 1200 m northeast of the Main Zone. The area has deep alluvial cover, extremely poor rock exposure, and is untested by previous drilling on the property.
This year's work has resulted in a new and exciting geological model for the Brett property. The company's results indicate district-scale potential, similar to the Republic Gold District in Washington. There is a plethora of targets for gold mineralization in the area and suggest potential for both high-grade veins and for larger, lower-grade bulk tonnage mineralization. As a result the company has expanded its land position by staking and acquisition, from the original 2,250-hectare package held at the beginning of the season, to in excess of 21,000 hectares. Strongly altered Eocene volcanics and intrusives have been identified in several areas within the expanded land package. This drill program is only testing a few targets within one quadrant of this comprehensive land package
For further information and reference to proposed drill locations and historic drill results please view our corporate presentation at www.ximenminingcorp.com.
Brett Geological Map
To view an enhanced version of Brett Geological Map please visit: http://orders.newsfilecorp.com/files/3028/11654_ximen.2.jpg
Magnetic Survey Map over Brett Typography
To view an enhanced version of Magnetic Survey Map over Brett Typography, please visit: http://orders.newsfilecorp.com/files/3028/11654_ximen.4.jpg
Brett IP Sections and Proposed Drill Holes
To view an enhanced version of Brett IP Sections and Proposed Drill Holes, please visit: http://orders.newsfilecorp.com/files/3028/11654_ximen.6.jpg
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,
"Christopher R. Anderson."
Christopher R. Anderson, President, CEO and Director, 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.
Source:Ximen Mining Corp.