First Area the 490 Gold Zone Successfully Completed
Brett Gold Property, Vernon, BC
VANCOUVER, British Columbia, Oct. 8, 2014 (GLOBE NEWSWIRE) -- Ximen Mining Corp. (the "Company" or "Ximen") (TSX-V:XIM) is pleased to provide an update on the ongoing diamond drill program on the company's Brett epithermal gold property in southern B.C. The 2014 drill program was designed to test 3 new targets on the property.
The first target was the 490 Gold Zone, a high-grade vein/breccia zone located east of the historically drilled Main Zone. Four holes were originally planned but favorable results required a fifth hole be drilled, so a total of 1033 m, have now been completed on this initial exploration phase of the 490 Gold Zone, as described below. Epithermal quartz +/- carbonate veining or breccia zones have been intersected in all 5 holes drilled to date. Intervals of strong silica-flooding within more permeable tuffaceous units have also been intersected in several drill holes.
To view an enhanced version of this image, please visit: http://orders.newsfilecorp.com/files/3028/12036_ximen.2.jpg
The second target for the drill program is the Border Zone, an area of intense alteration, with quartz veining, west of the Main Zone. The Border Zone straddles the boundary between the (original) Brett claims and Ximen's newly acquired Gold Star claims and is untested by previous exploration. As in other areas of the property, outcrop is limited in this area. A strong gold-silver-arsenic (plus Sb, Se, Te, Mo, Hg) anomaly was defined by a recently completed soil geochemical survey over the area and elevated gold values, to 599 ppb Au, 417 ppb Au and 204 ppb Au, were returned from limited rock samples collected.
To view an enhanced version of this image, please visit: http://orders.newsfilecorp.com/files/3028/12036_ximen.4.jpg
To view an enhanced version of this image, please visit: http://orders.newsfilecorp.com/files/3028/12036_ximen.6.jpg
Finally, drilling will test for low grade, bulk tonnage mineralization related to the large mag-low, IP chargeability anomaly northeast of the Main Zone that is also adjacent on the west to the new Garben-Fault recently defined by Ximen in the 2014 exploration program. The type-example for this deposit style is New Gold's Blackwater deposit in central BC. That deposit is an epithermal deposit hosted within similar volcanic and volcaniclastic rocks to those on the Brett property. The Blackwater deposit has a NI 43-101 compliant Measured + Indicated mineral resource, effective December 31, 2013, of 396,903 million tonnes grading 0.74 g/t Au and 5.5 g/t Ag, or a total contained metal content of 9.5 million ounces gold and 70.1 million ounces silver, at a cut-off grade of 0.4 g/t AuEq.
To view an enhanced version of this image, please visit: http://orders.newsfilecorp.com/files/3028/12036_ximen.8.jpg
About The new 490 Gold Zone:
- has been intersected in 3 the 5 holes drilled. A 3.2 m zone of quartz veinlets and quartz breccia intersected in a 4th hole (14-03) may also belong to this zone.
- is best developed in hole 14-04, where the intercept measures 4.7 m (core length)
- has now been tested over a strike length of 100 m and over an elevation range of 75 m
- remains open on strike to the north, as well as both down and up dip in the sections drilled
- has a known strike extent, as seen on surface, of greater than 400 m and may continue beyond this to the north, under cover
- strikes north and dips steeply west and is located approximately 85 m to the east of the historically drilled Main Zone
- the only previous drill hole into the 490 Gold Zone is a 2004 drill hole that assayed 4.9 oz/t or 168 g/t over 1.3 m
To view an enhanced version of this image, please visit: http://orders.newsfilecorp.com/files/3028/12036_ximen.10.jpg
Logging and sampling is complete for holes 14-01 through 14-04 and core samples have been submitted for analysis A total of 386 Samples have been plus an additional 59 Company inserted standards and blanks . Results are pending. Logging and sampling is in progress for hole 14-05.
To view an enhanced version of the Plan View, Drill Holes 14-01 to 14-05, please visit: http://orders.newsfilecorp.com/files/3028/12036_ximen.12.jpg
To view an enhanced version of Section Looking North, Drill Holes 14-01 to 14-05, please visit: http://orders.newsfilecorp.com/files/3028/12036_ximen.14.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. 604 488-3900
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.