VANCOUVER, Nov. 10, 2014 (GLOBE NEWSWIRE) -- Ximen Mining Corp. (TSX-V:XIM) (the "Company" or "Ximen") is pleased to report the results for the first 5 holes (1033 m) of the 2014 diamond drill program on the Brett epithermal gold property in southern B.C. These holes were drilled to test a new vein-style target, the 490 Gold Zone. Except for one historic hole, the 490 Gold Zone is untested by any previous work on the property.
- Drilling intersected both high grade veins and lower grade, bulk-tonnage style mineralization
- High grade results include 0.9 m @ 34.18 g/t Au, 1.3 m @ 24.7 g/t Au, and 1.0 m @ 20.5 g/t Au
- Bulk tonnage results 30.10 m @ 1.82 g/t Au, 33.00 m @ 0.82 g/t Au, and 16.55 m @ 1.88 g/t Au
- Mineralization remains open laterally, as well as on strike and to depth.
- Gold results were intersected over an elevation range of 210 vertical metres in these drill holes
- Mineralization is controlled both by structure and lithology
The 490 Gold Zone is located east of the Main Zone, which was the subject of most of the historic drilling on the property, and is a sub-parallel zone located 85 m into the footwall of the Main Zone. The 490 Gold Zone can be traced on surface for several hundred metres and was tested by drilling for only a 100 m strike length near the southern portion of its known strike extent. The 2014 drill holes were east-directed drill holes which drilled through the Main Zone, then continued at depth to the east, in the footwall of the Main Zone, to test the 490 Gold Zone. In addition to intersecting discrete epithermal veins, several drill holes intersected broader intervals of strong silica-flooding and low-grade gold mineralization within more permeable tuffaceous units and breccia zones.
Results of interest are tabulated below. The intervals tabulated below occur over an elevation range of 210 vertical metres. Mineralization remaining open laterally, as well as on-strike and to depth.
|Hole||From (m)||To (m)||Interval (m)||Au g/t||Ag g/t|
The company's drill program has completed, 11 holes to date totaling 2412 M and hole 12 in currently underway. To date, 1063 drill core samples, plus an additional 122 company inserted blanks and standards, have been submitted for analysis. Additional results will be released as they become available.
The 2014 exploration program, is extremely encouraging . The program has been concentrated within a small quadrant of Ximen Minings recently expanded land holdings that now total 21,000 hectares and make up a significant portion of this newly emerging gold district. These initial drill results from the 2014 drill program demonstrate that the property contains a very large, strong epithermal system and has potential for both high-grade veins and for low-grade, bulk tonnage gold mineralization.
Linda Caron, M.Sc., P.Eng. is the Qualified Person under NI 43-101 who supervised the 2014 drill program and who has reviewed and approved the technical content of this news release.
To view this image, please visit: https://orders.newsfilecorp.com/files/3028/12431_ximen1enhanced.jpg
Intervals listed in this news release are core intervals. Grades are weighted average grades over that interval. Further drilling is required to determine the relationship between core interval and true thickness. Sample intervals were determined by mineralization and geology, but generally ranged from 0.5 to 2.0 meters. QA/QC procedures were implemented in the drilling program, and included company-inserted blanks and standards of known gold grade. Core was sawn or split (depending on rock type), with half-core samples delivered to ActLabs' Kamloops, B.C. laboratory (ISO 9001:2008 accredited, ISO 17025 pending) for preparation and analysis. Samples were crushed to 90% passing a 2 mm screen, then a 1 kg split of the crushed sample was pulverized to 95% passing 105 microns. All samples were analysed for gold by FA/AA finish on a 30 gram sample of pulverized material, and for a multi-element suite by ICP-MS. Samples that returned > 2 ppm Au by FA/AA were subsequently tested by metallic gold assay on a 500 gram sample of pulverized material. For samples reported in this news release, gold values determined by metallic gold assay range from -30% to +300% of gold values determined by FA/AA finish for the same sample, with an average increase in gold grade of 63% by the metallic gold assay method. Where metallic gold assays were completed, those values have been used in the above quoted intervals of average grade. Drilling was HQ sized core, reducing to NQ2 where ground conditions dictated. Of the above tabulated core intervals, all are HQ size, except B14-01 124.00 – 135.80 m and B14-01 146.95 – 147.85 m, which are NQ2 size.
On behalf of the Board of Directors,
"Christopher R. Anderson."
Christopher R. Anderson, President, CEO and Director,
Ximen Mining Corp. 604 488-3900
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. Ximen's 2014 work program on the Brett property has successfully identified potential for both high-grade veins and for lower grade, bulk tonnage mineralization on the property. Ximen believes this to be a new emerging gold district, and as such has taken action to increase its land position at the Brett from 2400 hectares held at the beginning of 2014, to over 21,000 hectares.
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.