Proactiveinvestors USA & Canada Ximen Mining Corp https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Ximen Mining Corp RSS feed en Tue, 23 Jul 2019 17:16:56 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Ximen Mining makes first drawdown under Alumina Partners deal to the tune of C$250,000 ]]> https://www.proactiveinvestors.com/companies/news/224072/ximen-mining-makes-first-drawdown-under-alumina-partners-deal-to-the-tune-of--c250000-224072.html Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) said it had made the first drawdown on its previously announced equity financing with New York-based private-equity firm Alumina Partners.

In the first tranche, which closed on July 11, Ximen drew down C$250,000 and Alumina received 480,770 units of Ximen consisting of  one share of $0.52 per share and an 18 month warrant, exercisable at C$0.8125 per share.

READ: Ximen Mining strikes C$8M equity financing facility with Alumina Partners to advance BC assets

As reported last month, Alumina will provide up to C$8 million over two years to finance exploration, including at its flagship Brett epithermal gold project and on-going acquisition of gold assets in British Columbia.

Under the agreement, Ximen has the right to draw down on the facility, as and when it wants, via equity private placement tranches of up to C$500,000 each.

Each tranche will be a placing of units, with each unit consisting of one Ximen share and one common share purchase warrant.

The units will be priced at a discount of between 15% and 25% from the most recent closing price on the TSX venture exchange at the time of the applicable draw-down.

A 25% premium

The warrants will be issued at a 25% premium over the market price of the shares and will have a term of 18 months.

Ximen Mining owns 100% interest in all three of its precious metal projects in British Columbia. Its two gold projects are The Gold Drop project and The Brett Epithermal gold project. Ximen also owns the Treasure Mountain silver project, adjacent to the past-producing Huldra Silver mine.

Gold Drop and Treasure Mountain are under option agreements, with option partners making annual staged cash and stocks payments as well as funding the development of these projects. The company has recently acquired the Kenville Gold mine near Nelson, British Columbia and The Amelia gold mine.

Contact the author at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Wed, 17 Jul 2019 08:32:00 -0400 https://www.proactiveinvestors.com/companies/news/224072/ximen-mining-makes-first-drawdown-under-alumina-partners-deal-to-the-tune-of--c250000-224072.html
<![CDATA[News - Ximen Mining reveals option partner New Destiny Mining has completed trenching, sampling at Treasure Mountain ]]> https://www.proactiveinvestors.com/companies/news/224007/ximen-mining-reveals-option-partner-new-destiny-mining-has-completed-trenching-sampling-at-treasure-mountain-224007.html Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) said its option partner New Destiny Mining Corp (CVE:NED) has completed trenching, road building, drill site construction and rock chip sampling at the Treasure Mountain Silver property in British Columbia.

This work has been completed at two target areas, namely the Superior (Lucky Todd) and Railroad Creek prospects.

These areas cover copper-gold anomalies, which were identified during previous work programs.

READ: Ximen Mining eyeing priority targets for exploration at historic McKinney camp after acquiring new claims

Work began at the Superior prospect, where a previous sample returned 8.81 grams per tonne (g/t) gold.

Drill sites were prepared and 60 metres of excavator trenching was completed exposing a number of intrusive-hosted quartz veinlets mineralized with pyrite and chalcopyrite.

Work then moved on to the Railroad Creek prospect -- the site of at least eight historic mine adits that explored copper mineralization hosted in diorite-granodiorite.

Rock geochemical anomalies for copper (up to 8,940 ppm (parts per million) copper or 0.89% copper) were previously identified at this site.

Trenching completed

A total of 890 metres of access track/bush road were constructed, 15 metres of trenching completed, and two drill sites were built.

A mineralized zone containing pyrite and chalcopyrite was exposed over a length of 12 metres, extending from an historic mine adit. Rock channel sampling was conducted at both sites and samples were submitted for analysis.

The next stage of exploration will focus on the Jamie Creek area, where a number of gold vein targets have been identified, with previous sampling returning values up to 11.3 g/t gold, said New Destiny.

The project, which covers 10,700 hectares, is optioned to New Destiny Mining for staged cash and stock payments.

Contact the author at giles@proactiveinvestors.com

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Tue, 16 Jul 2019 09:47:00 -0400 https://www.proactiveinvestors.com/companies/news/224007/ximen-mining-reveals-option-partner-new-destiny-mining-has-completed-trenching-sampling-at-treasure-mountain-224007.html
<![CDATA[News - Ximen Mining eyeing priority targets for exploration at historic McKinney camp after acquiring new claims ]]> https://www.proactiveinvestors.com/companies/news/223915/ximen-mining-eyeing-priority-targets-for-exploration-at-historic-mckinney-camp-after-acquiring-new-claims-223915.html Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) told investors Monday it has increased its ground in the historic Camp McKinney area in southern British Columbia via acquisition and now holds 1,718 hectares there.

The company said it had now consolidated a "sizable" land position surrounding the former Cariboo-Amelia gold mine, British Columbia's first dividend-paying lode gold mine.

The McKinney camp lies southeast  of Mount Baldy, northeast of Osoyoos and comprises several mines, the main one being Cariboo-Amelia, which produced 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc during intermittent operations between 1894 and 1962.

READ: Ximen Mining's option partner GGX Gold says drilling crews returning to Gold Drop property in British Columbia

Al McKinney and Fred Rice staked a claim in 1888 which eventually became the Caribou mine, noted Ximen in the statement.

Today's new acquisition includes nine claims acquired from private firm Turnagain Resources Inc for C$33,000 in cash, plus one new mineral claim staked by Ximen. 

The area covered by these new claims is 1,522 hectares.

At Cariboo, the main quartz vein has a surface trace of 2.4 km along strike, which has been mined over 754 metres and to a depth of between 107 and 171 metres.

The width of the vein varies from 0.25 to 3.5 metres. Visible native gold is locally prominent and higher gold grades are reported to occur where the vein hosts bands of sulphides.

Ximen said priority targets for exploration on its new ground include potential extension of gold mineralization at depth below the historic mine workings, strike extensions in fault offset segments along strike, parallel veins, and possible porphyry related molybdenum-copper mineralization.

A busy spell

It's been a busy spell for Ximen. On Thursday last week, it said its option partner GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXF) would start drilling again at the Gold Drop property in British Columbia next week after a field break.

Crews will arrive at the base in Greenwood and initially start drilling at the COD north vein, where samples late last year ranged up to 21.7 grams per tonne (g/t) gold over 0.4 metres.

Then it will be the turn to drill a new geophysical target, which was identified by the new technology — Stargate II —  a deep-penetrating ultra-sonic AMT (Audio-Magnetotellurics) geophysical survey conducted by Earth Science Services Corp.

Ximen shares in Toronto added 1.35% to stand at C$0.75.

Contact the author at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Mon, 15 Jul 2019 07:30:00 -0400 https://www.proactiveinvestors.com/companies/news/223915/ximen-mining-eyeing-priority-targets-for-exploration-at-historic-mckinney-camp-after-acquiring-new-claims-223915.html
<![CDATA[Media files - Ximen Mining preparing for summer drill program at Kenville Gold Mine in Nelson, B.C. ]]> https://www.proactiveinvestors.com/companies/stocktube/13991/ximen-mining-preparing-for-summer-drill-program-at-kenville-gold-mine-in-nelson-bc-13991.html Thu, 04 Jul 2019 15:21:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13991/ximen-mining-preparing-for-summer-drill-program-at-kenville-gold-mine-in-nelson-bc-13991.html <![CDATA[News - Ximen Mining launches new 20,000 metre drill program at historic British Columbia gold mine ]]> https://www.proactiveinvestors.com/companies/news/223213/ximen-mining-launches-new-20000-metre-drill-program-at-historic-british-columbia-gold-mine-223213.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) announced Tuesday that it is kickstarting a new drilling program at the historic Kenville gold mine in British Columbia.

The junior explorer based in Vancouver said it will complete 20,000 metres of diamond drilling and 1,200 metres of underground development after activating an existing permit.

Ximen's share price nearly 5% on Tuesday morning in Toronto at C$0.64 and traded at US$0.48 on OTC markets.

READ: Ximen Mining advances plan to option former British Columbia gold producer

Kenville is the first recorded underground mine in British Columbia, beginning production in the 1890s and mined into the 1950s, according to Ximen. Historical production records show around 65,000 ounces of gold produced over the 60-year period.

More recently, exploration work at the property between 2007 and 2012 revealed several high-priority drill targets and multiple new veins identified. Current drilling will focus on the newly discovered targets.

In a note to shareholders, Ximen said that there are numerous additional drill intercepts that are greater than 5 grams per ton.

According to Ximen’s underground mine plan, the first step is to drive a new, 524-metre underground decline to access the centre of a series of vein intercepts from surface drilling conducted between 2009 to 2012.

Underground drilling will follow to outline potentially mineable material on the property, with around 4,500 metres of underground drilling expected to outline enough material for a 10,000-ton bulk sample.

The project is expected to take six months, Ximen said in a statement.

Ximen announced its purchase of Kenville in April with the intention of defining targets on the property for possible trial mining.

--Updates share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Tue, 02 Jul 2019 08:33:00 -0400 https://www.proactiveinvestors.com/companies/news/223213/ximen-mining-launches-new-20000-metre-drill-program-at-historic-british-columbia-gold-mine-223213.html
<![CDATA[News - Ximen Mining poised for underground development work at flagship Brett gold project ]]> https://www.proactiveinvestors.com/companies/news/222773/ximen-mining-poised-for-underground-development-work-at-flagship-brett-gold-project-222773.html Ximen Mining (CVE:XIM) (OTCQB:XXMMF) has moved forward at its flagship Brett gold property in British Columbia, revealing it had submitted an application for underground development at the site.

Dependent on getting the go-ahead, the program could begin within this quarter and would take up to two months to complete, the resource group said.

READ: Ximen Mining's option partner GGX Gold to test promising new gold zone in BC

A planned diamond drill program would follow.

Brett spans a 20,025 hectare epithermal gold district in southern British Columbia near the city of Vernon. Previous intercepts include up to 168 g/t over 1.3 meters and visible gold is common.

Ximen said the aim of the program was to explore the Main Zone to the northwest, along strike, where a number of significant gold intercepts were drilled from surface.

The team will also expose ground beneath a historic surface bulk sample, and explore the Main Zone and parallel structures by underground diamond drilling.

Ximen hopes this will lead to defining mineralized zones with potential for bulk sampling.

The work program includes:

rehabilitation of the workings, excavation of diamond drill stations in the existing drift, a 50 meter cross-cut from the exiting drift with a drill station, new drifting to extend the current mine level up to 200 meters additional drill stations in the new drift, and a second 50 meter cross-cut and diamond drill station from the new drift.

Shares in Toronto ticked up 1.64% to $0.62 each.

Contact the author at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 25 Jun 2019 08:20:00 -0400 https://www.proactiveinvestors.com/companies/news/222773/ximen-mining-poised-for-underground-development-work-at-flagship-brett-gold-project-222773.html
<![CDATA[News - Ximen Mining's option partner GGX Gold to test promising new gold zone in BC ]]> https://www.proactiveinvestors.com/companies/news/222587/ximen-mining-s-option-partner-ggx-gold-to-test-promising-new-gold-zone-in-bc-222587.html Ximen Mining's (CVE:XIM) (OTCQB:XXMMF) option partner GGX Gold Corp (CVE:GGX) (OTCQB:GGXXF) told investors it was making progress with a successful drilling program at its Gold Drop property in British Columbia.

The firm said it had completed 32 diamond drill holes on the COD vein and moved the drill rig to the COD North vein, where trench samples collected last year returned results of up to 21.7 grams per ton gold over 0.4 metres, Ximen reported.

READ: GGX Gold advancing Gold Drop exploration at promising new gold zone

An initial 10 holes are planned to test the structure near the surface samples.

At the main COD vein, GGX drilled a total of 1923 metres on the structure. Fourteen of the 32 holes intersected the quartz vein at the target depths and contained varying amounts of pyrite mineralization, with one intercepting visible gold.

Drilling will continue at COD North

Drilling will continue at COD North with plans to test the Everest vein, where a gold-bearing vein was discovered in 2018, and at the Gold Drop mine, where gold in quartz is visible on surface.

GGX recently announced it will raise up to C$1.7 million in a non-brokered private placement as it looks to continue exploration at Gold Drop.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74 

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Fri, 21 Jun 2019 07:27:00 -0400 https://www.proactiveinvestors.com/companies/news/222587/ximen-mining-s-option-partner-ggx-gold-to-test-promising-new-gold-zone-in-bc-222587.html
<![CDATA[News - Ximen Mining strikes C$8M equity financing facility with Alumina Partners to advance BC assets ]]> https://www.proactiveinvestors.com/companies/news/222507/ximen-mining-strikes-c8m-equity-financing-facility-with-alumina-partners-to-advance-bc-assets-222507.html Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) has struck a deal with New York-based private-equity firm Alumina Partners for an equity financing facility to advance the explorer's activity in British Columbia.

Alumina will provide up to C$8 million over two years to finance exploration, including at the flagship Brett epithermal gold project and on-going acquisition of gold assets in the province.

READ: Ximen Mining's option partner GGX Gold sees gold in core from latest drilling at Gold Drop project in BC

"As the gradual sector rotation back toward precious metals continues to gain traction, we anticipate the strong management team at Ximen being able to translate their substantial asset base into the real revenue streams of a production-stage company," said Adi Nahmani, managing member of Alumina.

Meanwhile, Ximen CEO Christopher Anderson added: "This agreement provides Ximen with additional capital to expand our exploration program on our Brett epithermal gold property near Vernon BC and allows us to accelerate our work programs planned for the Kenville Gold Mine near Nelson, BC."

Under the deal, Ximen has the right to draw down on the facility, as and when it wants, via equity private placement tranches of up to C$500,000 each.

Each tranche will be a placing of units, with each unit consisting of one Ximen share and one common share purchase warrant.

The units will be priced at a discount of between 15% and 25% from the most recent closing price on the TSX venture exchange at the time of the applicable draw-down.

A 25% premium

Warrants will be issued at a 25% premium over the market price of shares and have a term of three years. Each tranche of units issued will be subject to the acceptance of the venture exchange and subject to the customary four-month hold period.

Ximen Mining owns 100% interest in all three of its precious metal projects in southern British Columbia. Its two gold projects are The Gold Drop project and The Brett Epithermal Gold project. Ximen also owns the Treasure Mountain silver project, adjacent to the past-producing Huldra Silver mine.

Gold Drop and Treasure Mountain are under option agreements, with option partners making annual staged cash and stocks payments as well as funding the development of these projects. The company has recently acquired the Kenville Gold mine near Nelson, British Columbia and The Amelia gold mine.

Contact the author at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Thu, 20 Jun 2019 07:38:00 -0400 https://www.proactiveinvestors.com/companies/news/222507/ximen-mining-strikes-c8m-equity-financing-facility-with-alumina-partners-to-advance-bc-assets-222507.html
<![CDATA[Media files - Ximen Mining Corp acquires two projects with unique back stories and great potential ]]> https://www.proactiveinvestors.com/companies/stocktube/13660/ximen-mining-corp-acquires-two-projects-with-unique-back-stories-and-great-potential-13660.html Fri, 07 Jun 2019 05:40:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13660/ximen-mining-corp-acquires-two-projects-with-unique-back-stories-and-great-potential-13660.html <![CDATA[News - Ximen Mining set to increase footprint in British Columbia with Armelia gold mine acquisition ]]> https://www.proactiveinvestors.com/companies/news/221474/ximen-mining-set-to-increase-footprint-in-british-columbia-with-armelia-gold-mine-acquisition-221474.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) reveled Tuesday that it is set to bolster its footprint in southern British Columbia as it announced a deal to acquire properties in Camp McKinney near Baldy Mountain Resort.

The land comprising in all 199.46 hectares, covers the historic Cariboo-Armelia gold mine, which was British Columbia's first dividend-paying lode gold mine and the most significant producer in the camp.

It was mined intermittently from 1894 to 1962 and recovery included 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc.

READ: Ximen Mining takes another step to acquire British Columbia gold mine

The average recovered gold grade was a very impressive 24.68 grams per tonne (g/t) gold, according to BC Minfile, Ximen told investors.

To buy 100% interest in the properties, Ximen will issue 212,888 shares on TSX approval.

The acquisition, said Ximen in  a regulatory release, includes the original Cariboo-Amelia Crown-granted claims: Molson, Paragon, Burley No 1, Edward VII, Wonder Y, Last Chance, Fontenoy, Emma, Alice, Cariboo, Amelia, Okanagan, Maple Leaf, Sawtooth, and Wiarton.

The properties Maple Leaf & Wiarton also include the surface rights as originally granted.

Busy spell

It's been a busy spell for Ximen.

Last month, it updated its plan to buy an option to acquire the Kenville gold mine, a formerly producing project in British Columbia. The mine, near Nelson, British Columbia was first discovered in 1888 and mined intermittently until 1954, during which it produced over 2,000 kilograms of gold and 861 kilograms of silver.

And last week, the group told investors that a new exploration program has begun at the company’s Treasure Mountain Silver Property in British Columbia.

Field exploration work is being conducted through Ximen’s option partner New Destiny Mining Corp (CVE:NED), with drilling and trenching soon to begin under the current work permit.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 04 Jun 2019 07:44:00 -0400 https://www.proactiveinvestors.com/companies/news/221474/ximen-mining-set-to-increase-footprint-in-british-columbia-with-armelia-gold-mine-acquisition-221474.html
<![CDATA[News - Exploration work kicks off at Ximen Mining’s Treasure Mountain silver project ]]> https://www.proactiveinvestors.com/companies/news/220981/exploration-work-kicks-off-at-ximen-minings-treasure-mountain-silver-project-220981.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) announced Monday that a new exploration program has begun at the company’s Treasure Mountain Silver Property in British Columbia.

Field exploration work is being conducted through Ximen’s option partner New Destiny Mining Corp (CVE:NED), with drilling and trenching soon to begin under the current work permit.

READ: Ximen Mining takes another step to acquire British Columbia gold mine

The Treasure Mountain Silver Property consists of 10,700 hectares of ground near the historic Treasure Mountain silver-lead-zinc mine. The property hosts at least seven gold, silver, lead, zinc or copper documented occurrences in various regions.

Some of these mineral occurrences have associated historic underground workings, according to Ximen. The property is in an area which hosts a number of porphyry copper deposits.

New Destiny has mobilized equipment and commenced the clearing of trench sites and construction of drill pads on three target areas to follow-up on previous exploration with trenching and drilling.

The current work program will consist of trenching and rock sampling in the three target areas, followed by diamond drilling in selected areas.

Priority areas

Targets include areas of soil and rock geochemical anomalies. One area is located in the east region of the property in the Vuich Creek area, where a recent sample returned 8.8 grams per ton (g/t) gold. Copper anomalies were also present in other samples.

Last year’s exploration work by New Destiny identified a new target area in the northeast section of the property, where rock samples from an old mine assayed 11.3 g/t gold. Another priority area is at Railroad Creek, where the company found rock geochemical anomalies for copper.

In addition to Treasure Mountain, Ximen owns 100% interest in all three of its precious metal projects located in southern BC, including two gold projects, Gold Drop and Brett.

Both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements. The option partners are making annual staged cash and stocks payments as well as funding the development of these projects.

Shares of Ximen slipped 3.9% on Monday in Toronto to sit at C$0.50.

--Updates share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Mon, 27 May 2019 09:50:00 -0400 https://www.proactiveinvestors.com/companies/news/220981/exploration-work-kicks-off-at-ximen-minings-treasure-mountain-silver-project-220981.html
<![CDATA[News - Ximen Mining advances plan to option former British Columbia gold producer ]]> https://www.proactiveinvestors.com/companies/news/219571/ximen-mining-advances-plan-to-option-former-british-columbia-gold-producer-219571.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) updated on its previously announced plan to buy an option to acquire the Kenville gold mine, which is a formerly producing project in British Columbia.

In a statement Thursday, Vancouver-based Ximen said it had struck three related 'arm's length' agreements to acquire over 18.4 million shares (target) in private firm 099537 B.C. Ltd, whose main asset is the option on the mine.

READ: Ximen Mining strikes option royalty deal with Gungnir Resources on former producing British Columbia gold mine

"Ximen Mining is not only excited about the Kenville Gold Mine acquisition, we are also extremely pleased with the additional new shareholders whom accompany the project, and have decided to join forces with us and share their optimistic enthusiasm and support," said Chris Anderson,  CEO at Ximen.

The target shares are valued at $659,558 ($0.0357 per target share) and Ximen proposes to issue 942,226  of its shares at a deemed price of $0.70 each as consideration.

First underground lode gold mine 

The Kenville gold mine near Nelson, British Columbia was first discovered in 1888 and mined intermittently until 1954, during which it produced over 2,000 kilograms of gold and 861 kilograms of silver.

It was the first underground lode gold mine in British Columbia, and was once the largest producer in the Nelson mining camp, the firm said.

Looking ahead, Ximen plans to  compile the details of historic work at Kenville in a bid to define targets for possible trial mining.

Shares nudged up 1% in Toronto at $0.50 each.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Thu, 02 May 2019 07:26:00 -0400 https://www.proactiveinvestors.com/companies/news/219571/ximen-mining-advances-plan-to-option-former-british-columbia-gold-producer-219571.html
<![CDATA[Media files - Ximen Mining looks to have a very busy 2019 with work on multiple projects ]]> https://www.proactiveinvestors.com/companies/stocktube/13080/ximen-mining-looks-to-have-a-very-busy-2019-with-work-on-multiple-projects-13080.html Wed, 24 Apr 2019 09:37:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13080/ximen-mining-looks-to-have-a-very-busy-2019-with-work-on-multiple-projects-13080.html <![CDATA[News - Ximen Mining eyeing busy year of exploration at its British Columbia properties ]]> https://www.proactiveinvestors.com/companies/news/218692/ximen-mining-eyeing-busy-year-of-exploration-at-its-british-columbia-properties-218692.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) is looking at a busy year of exploration in 2019 as it revealed it has programs underway on multiple properties.

In Tuesday's statement, the  Vancouver-based company also said it had closed the previously announced flow through placing at $0.60 per share for gross proceeds of $405,000 for exploration at its British Columbia (BC) properties.

READ: Ximen Mining adds former producing British Columbia gold mine to portfolio

Concerning the recently announced deal to acquire the Kenville gold mine near Nelson, BC, the group is planning to compile details of historic work in a bid to define targets for possible trial mining.

The Kenville mine was first discovered in 1888 and mined intermittently until 1954 . It was the first hard rock gold mine in British Columbia, with recorded production of 2,029 kilograms (kg) of gold, 861 kg of silver, 23.5 tonnes of lead, 15 tonnes of zinc, 1.6 tonnes of copper and 37kg of cadmium from 181,395 tonnes processed.

Ximen on Tuesday also said that at its Brett property, also in British Columbia, it will apply this month to extend the historic mine drift along the trend of the Main Zone and conduct underground drilling.

A 291 tonne bulk sample was previously mined from the Main Zone, from which the average grade from the smelter was 27.74 g/t (grams per ton) gold and 63.7 g/t silver.
Ximen is also kicking off field work to generate targets at the recently acquired Providence property of 12,900 hectares near Greenwood, British Columbia.

This property surrounds the Gold Drop property, where GGX Gold Corp (CVE: GGX). is currently diamond drilling under an option agreement.

Providence covers 11 known mineral occurrences including the historic past producing Providence mine that produced 183 kilograms of gold, 42,552 kilograms of silver, 183 tonnes of lead, 118 tonnes of zinc from 10,426 tonned mined.

Generating targets

Geological reconnaissance and rock sampling are planned to further investigate the historic mine dumps initially identified. Soil geochemistry and trenching is then planned to generate drill targets.

For Kenville, Ximen entered into an option agreement with Don Althen, an arm’s length individual to the company, enabling the company to purchase all of Althen’s interest in the property.

It will pay Althen a total of 1.4 million shares and around nearly C$1.7 million in cash and debt settlements.

The Kenville property was the first underground lode gold mine in British Columbia, and was once the largest producer in the Nelson mining camp, according to the company.

There have been multiple new targets and veins discovered recently.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 16 Apr 2019 07:54:00 -0400 https://www.proactiveinvestors.com/companies/news/218692/ximen-mining-eyeing-busy-year-of-exploration-at-its-british-columbia-properties-218692.html
<![CDATA[News - Ximen Mining adds former producing British Columbia gold mine to portfolio ]]> https://www.proactiveinvestors.com/companies/news/218153/ximen-mining-adds-former-producing-british-columbia-gold-mine-to-portfolio-218153.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) announced it has added a historic former producing gold mine to its portfolio of assets in British Columbia.

Shares of Ximen rocketed up almost 11% to C$0.83 in Canada and gained about 5% to US$0.59 in the US.

The Kenville gold mine near Nelson, British Columbia was first discovered in 1888 and mined intermittently until 1954, during which it produced over 2,000 kilograms of gold and 861 kilograms of silver.

The Vancouver-based exploration company entered into an option agreement with Don Althen, an arm’s length individual to the company, enabling Ximen to purchase all of Althen’s interest in the Kenville property.

READ: Ximen Mining expands footprint with new land package in historical mining region of British Columbia

Under the terms of the April 5 agreement, Ximen will pay Althen a total of 1.4 million shares of the company and around nearly C$1.7 million in cash and debt settlements.

The Kenville property was the first underground lode gold mine in British Columbia, and was once the largest producer in the Nelson mining camp, according to the company.

There have been multiple new targets and veins discovered recently, the company said in a statement.

Acquisition trail

The new agreement comes on the heels of last week's purchase of another former producing mine, Providence, in British Columbia, which sent Ximen shares rising nearly 9% on Friday in Canada.

--Updates with new share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Mon, 08 Apr 2019 07:55:00 -0400 https://www.proactiveinvestors.com/companies/news/218153/ximen-mining-adds-former-producing-british-columbia-gold-mine-to-portfolio-218153.html
<![CDATA[News - Ximen Mining expands footprint with new land package in historical mining region of British Columbia ]]> https://www.proactiveinvestors.com/companies/news/218055/ximen-mining-expands-footprint-with-new-land-package-in-historical-mining-region-of-british-columbia-218055.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) announced Friday that it had acquired nearly 13,000 hectares of land near the Gold Drop property in British Columbia, Canada.

Shares of Ximen soared over 11% on Friday afternoon to sit at C$0.77 in Canada, and were up almost 18% to US$0.56 on Friday in the US.

The new land package comprises 17 mineral tenures surrounding the Gold Drop property that is under an option agreement with Ximen's partner GGX Gold Corp (CVE:GGX) (OTCQB:GGXXF), and adjoins a large swatch of land currently being explored by major gold producer Kinross Gold Corp (NYSE:KGC) (TSE:K) .

The Vancouver-based company’s land hosts several past producing mines and known mineral occurrences, including the Providence mine that operated for nearly 80 years and produced 183 kilograms of gold and nearly 43,000 kilograms of silver.

READ: Ximen Mining's option partner GGX Gold set to start diamond drilling at Gold Drop in April

Ximen’s field crew recently visited the Providence claim to collect new samples for the historic mine. Results showed significant gold and silver values of 2.87 grams per ton gold and 127 grams per ton silver.

At Gold Drop, GGX Gold has drilled 71 holes, two of which intercepted around 108 grams per ton gold and 880 grams per ton silver over about 7 metres.

--Updated to reflect current share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Fri, 05 Apr 2019 07:56:00 -0400 https://www.proactiveinvestors.com/companies/news/218055/ximen-mining-expands-footprint-with-new-land-package-in-historical-mining-region-of-british-columbia-218055.html
<![CDATA[News - Ximen Mining Corp has tellurium, a critical mineral used in solar panels, in its portfolio ]]> https://www.proactiveinvestors.com/companies/news/217537/ximen-mining-corp-has-tellurium-a-critical-mineral-used-in-solar-panels-in-its-portfolio-217537.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) provided more information on Friday about a critical mineral - tellurium - after its option partner GGX Gold Corp (CVE:GGX) (OTCQB:GGXXF) released high-grade tellurium results from the Gold Drop property.

A chemical element with the symbol Te, tellurium is among 35 mineral commodities deemed critical to the security and prosperity of the United States. There is a shortage of the brittle, rare, silver-white metal as traditional recovery methods become obsolete.

Tellurium’s main use is for manufacturing films essential to thin-film photovoltaic solar cells. When it is added to other elements, it forms a compound that enhances electrical conductivity. Thin films can efficiently absorb sunlight and convert it into electricity.

Solar panel production growing​

Solar panel production has increased exponentially over the past decade. According to Global Market Insights, thin film cadmium telluride solar panel production -- which today accounts for 40% of tellurium consumption -- is expected to grow from US$8 billion in 2016 to over US$30 billion by 2024.

As the use of tellurium in thin film solar applications increases, governments and industry are growing more concerned about securing an adequate supply of the metalloid to meet future demand. While most of the global supply of tellurium comes from copper refining, the US Geological Survey has noted that, as copper grades decline, new copper recovery processes are being considered for implementation, but the methods do not recover tellurium.

High-grade tellurium results​

Ximen’s partner GGX recently announced core from its Fall 2018 drill program at the Gold Drop project in BC confirmed high-grade tellurium.

The tellurium results from two drill holes, COD18-67 and COD18-70 showed high-grade tellurium.

The re-examination showed COD18-67 hosted 129 g/t gold, 1154 g/t silver and 823 g/t tellurium over a 7.28-meter core length.

Meanwhile, COD18-70 showed 107 g/t gold, 880 g/t silver and 640 g/t tellurium over a 6.90-meter core length.

Katie Lewis also contributed to this story

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Fri, 29 Mar 2019 09:04:00 -0400 https://www.proactiveinvestors.com/companies/news/217537/ximen-mining-corp-has-tellurium-a-critical-mineral-used-in-solar-panels-in-its-portfolio-217537.html
<![CDATA[News - Ximen Mining receives work permit at Treasure Mountain silver property ]]> https://www.proactiveinvestors.com/companies/news/214095/ximen-mining-receives-work-permit-at-treasure-mountain-silver-property-214095.html Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) announced that it had received work permits for diamond drilling, trenching and test pitting at the Treasure Mountain silver and base metals property in British Columbia.

The permit allows for up to 11 drill pads and up to 10 trench/test pit sites in the east-northeast regions of the property, and covers areas of gold, silver and copper.

READ: Ximen Mining reports positive exploration results from option partner at Treasure mountain

Ximen's option partner on the project is New Destiny Mining Corp (CVE:NED), which is making annual staged cash and stocks payments as well as funding the development of the site.

The Treasure Mountain property partially surrounds the Treasure Mountain property of Nicola Mining Inc and around 37 kilometers southwest of the Shovelnose gold property of Westhaven Ventures Inc (CVE:WHN).

Westhaven Ventures recently reported a diamond drill intersection of 8.95 g/t (grams per ton) gold and 65.47 g/t silver over 46.2 meters (core length) at Shovelnose.

Historical assays

Among the historical assay highlights at Treasure Mountain include 8.81 grams per tonne (g/t) gold in grab samples from the east and northeast regions.

There were also chip and channel samples in the northeast region, including 4.11 g/t gold over 0.9 meters and 9.6 g/t gold over 0.18 meters.

Also in today's statement, Ximen said it had closed the first and final tranches of the non-brokered private placing, previously announced in December, raising $250,000 gross, which will be used for exploration.

Each unit consists of one share and one share purchase warrant. Each whole warrant will entitle the holder to buy one additional share for $0.30 per share for 24 months from the date of issue.

Ximen said proceeds will be used for general working capital and exploration on its properties.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Wed, 06 Feb 2019 08:56:00 -0500 https://www.proactiveinvestors.com/companies/news/214095/ximen-mining-receives-work-permit-at-treasure-mountain-silver-property-214095.html
<![CDATA[Media files - Ximen Mining is debt free and has a unique model to push flagship Brett Gold forward ]]> https://www.proactiveinvestors.com/companies/stocktube/11819/ximen-mining-is-debt-free-and-has-a-unique-model-to-push-flagship-brett-gold-forward-11819.html Tue, 15 Jan 2019 09:33:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11819/ximen-mining-is-debt-free-and-has-a-unique-model-to-push-flagship-brett-gold-forward-11819.html <![CDATA[News - OTCMarkets UPDATE: Ximen Mining, Trxade Group and more ]]> https://www.proactiveinvestors.com/companies/news/196085/otcmarkets-update-ximen-mining-trxade-group-and-more-196085.html The OTCMarkets were mixed this afternoon with the OTCQX U.S. and the OTCQB Venture seeing slight gains.

Ximen Mining Corp (OTCQB:XXMMF) made its debut on the OTCQB Venture Market on Monday. The Canadian company, which also trades on the TSX Venture exchange, explores mineral properties throughout British Columbia.

READ: Ximen Mining debuts on OTCQB Venture Market

Trxade Group Inc (OTCQB:TRXD) shares jumped 40% to US$0.49 after the web-based market platform reported its first fiscal quarter results, increasing revenue by 14% year over year. The Tampa-based company acts as an e-commerce site for pharmacists and pharmaceutical suppliers.

Air Canada (OTCQX:ACDVF) shares were up nearly 2% to US$19.82 after reporting its first-quarter 2018 results. The Montreal-based airline reported a lower-than-expected loss of US$170mln and increased revenue thanks to increased traffic.

Stamper Oil & Gas Corp (OTCQB:STMGF) saw its shares fall nearly 18% to US$0.19 after announcing a change to its board of directors. Board Chairman Lutfur Rahman Khan resigned, leaving a vacancy on the board that has not yet been filled.

Shares of Viking Energy Group Inc (OTCQB:VKIN) jumped more than 5% to US$0.20 after the Texas-based company announced that its oil and gas properties increased in value by US$36.2mln. The increase in value is credited to the company’s acquisition strategy, including 40 new oil leases in Kansas.

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Mon, 30 Apr 2018 13:12:00 -0400 https://www.proactiveinvestors.com/companies/news/196085/otcmarkets-update-ximen-mining-trxade-group-and-more-196085.html
<![CDATA[News - Ximen Mining to up exploration tempo at Treasure Mountain ]]> https://www.proactiveinvestors.com/companies/news/169546/ximen-mining-to-up-exploration-tempo-at-treasure-mountain-169546.html Ximen Mining (CVE:MIN) intends to carry out more aggressive exploration at the Treasure Mountain silver project in British Columbia after completing the latest two phases of a rock sample programme.

Fifty one rock grabs were taken along with samples from 32 auger holes.

Results for both of these programmes are pending, but based on the data already received at the site Ximen taken out permits for diamond drill sites and trenching.

Work at the Treasure Mountain project is designed to advance it to the point where a partner can come in and take it on.

Ximen itself recently decided it would focus its main attention on the Brett gold project at Vernon, which is now its key asset.

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Fri, 25 Nov 2016 16:11:00 -0500 https://www.proactiveinvestors.com/companies/news/169546/ximen-mining-to-up-exploration-tempo-at-treasure-mountain-169546.html
<![CDATA[News - Ximen on the hunt for 'big game' on the Brett property ]]> https://www.proactiveinvestors.com/companies/news/107620/ximen-on-the-hunt-for-big-game-on-the-brett-property-107620.html It’s not easy getting a mining company funded in Canada these days, even if the commodity in question is gold, arguably the world’s most reliable currency, and the region of exploration is British Columbia, known to contain some of the world’s most promising large-scale exploration and development properties.

But under the guidance of industry veteran Christopher Anderson, Ximen Mining (CVE:XIM) managed it, and the company now intends to continue its quest for big game at the Brett property, which lies in the country surrounding the southern British Columbia town of Vernon.

Back in December, Ximen announced a plan to raise C$600,000 through a placing of four million flow-through units each consisting of one share and one warrant. That amount was subsequently raised in March to over C$1mln to be raised by the issue of seven million flow-through units, and the raise finally closed off in April.

At that point the company also elected to use shares to pay down over C$200,000 of debt, thus clearing the decks for further work at Brett.

Last year was Ximen’s first full year as the owner of Brett, and it certainly hit the ground running. During the first half of 2014 the company completed a review of all the historic data pertaining to Brett, going back to its initial discovery in 1983. Back then, the interest of prospectors was first aroused by the discovery of visible gold in a quartz vein.

Over the years that discovery was followed up with more than 15,000 metres of diamond drilling in 131 holes and almost 3,000 metres of reverse circulation drilling in 53 holes. The project was also the subject of over 4,000 soil samples completed over 15 square metres, many of which returned anomalous results.

The most interesting area was termed the main shear zone RW vein, and became one of the main focuses of attention for Ximen when it started its review.

And so, in the second half of 2014, with the review complete, Ximen’s geologists moved into the field in earnest and undertook magnetic and induced polarisation surveys, and conducted more soil and rock chip sampling.

This new field work, combined with the historic data, then allowed Ximen to complete a new three-dimensional model for the property and thereby to identify and hone in on drill targets.

But was it worth drilling? According to Steve Craig, one of Ximen’s technical advisors, the issue was never in doubt, but he was doubly sure because his familiarity with Brett goes back many years, as he explained in an official release in April.

“In 1983 I saw the first samples that came from Brett and knew then that it could be a major exploration play,” he said. “The property has many of the epithermal characteristics that are found in a number of Nevada’s volcanic-hosted gold districts where I have spent most of my career.”

Ximen duly started drilling towards the latter part of 2014, and delivered 13 holes over a combined 3,000 metres of drilling. The results duly came in and showed extensive mineralisation. Among the highlights were 7.2 metres grading 2.85 grams per tonne gold and 7.73 grams silver, 0.9 metres at 34.18 grams gold and 6.66 grams silver, and 31 metres at 1.77 grams gold and 2.13 grams silver.

It was a strong start, as chief executive Christopher Anderson emphasised. “The 2014 programme returned excellent results from this newly emerging gold district,” he said.

“Our drilling demonstrated that the property contains a very large and strong epithermal system that has district-scale potential for both high-grade veins and low-grade bulk tonnage gold mineralisation. Our 2015 programme will continue in those areas that have potential to return success.”

Seasoned mining watchers will know though that drilling conditions in British Columbia can be harsh, and it’s unlikely that the company will be getting going on the ground before another couple of months are out.

But that’s not to say that the prospectivity of Brett can’t be improved in other ways. In mid-April, Ximen was able to announce further results from the 2014 fieldwork, noting in particular that a biogeochemical survey aimed at identifying targets under glacial cover had identified a very promising-looking anomaly.

“Unfortunately,” ran the official commentary, “These results were not available prior to Ximen’s 2014 drilling programme.” They’re available now though, and it’ll be interesting to see just exactly what Ximen does next.

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Tue, 02 Jun 2015 11:18:00 -0400 https://www.proactiveinvestors.com/companies/news/107620/ximen-on-the-hunt-for-big-game-on-the-brett-property-107620.html
<![CDATA[News - Ximen Mining finds new target at Brett property ]]> https://www.proactiveinvestors.com/companies/news/68489/ximen-mining-finds-new-target-at-brett-property-79771.html British Columbia-focused Ximen Mining (CVE:XIM) says it has found a 500m (metre) by 250 metre anomaly  at the  Brett Gold project, which it aims to follow up.

The find remains open to the north, the firm said, and is parallel to and located 1 km to the northeast of the Main Zone. 

It comes after last year's biogeochemical survey to identify targets that may be under glacial cover and within the broad and strong magnetic low, northeast of the Main zone. 

Ximen chief executive Chris Anderson said: "This new biogeochemical anomaly is a high priority for follow-up in 2015. 

"As we continue to evaluate all the results of 2014 work, I expect additional high quality targets to emerge for drill testing."

Samples were collected at 50 m samples on 50 m spaced grid lines over the mag-low anomaly, using an offset sampling pattern on adjacent grid lines. 

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Tue, 28 Apr 2015 16:15:00 -0400 https://www.proactiveinvestors.com/companies/news/68489/ximen-mining-finds-new-target-at-brett-property-79771.html
<![CDATA[News - Ximen Mining appoints new director; closes last tranche of placing ]]> https://www.proactiveinvestors.com/companies/news/68436/ximen-mining-appoints-new-director-closes-last-tranche-of-placing-79713.html Ximen Mining (CVE:XIM) has closed the last tranche under its previously announced private placing and appointed a new independent director.

Scott Kent brings to the team over 18 years of sales and marketing expertise and has many years of experience in public relations, the company said.

Director Travis Snyder has stepped down with immediate effect.

The firm has also issued around 1.3mln shares to settle debt, which have a hold expiry of August 15 this year, it said.

In December last year, Ximen said it planned to raise up to C$900,000 but then in January said it would increase the total size of the fundraise to up to C$1.05mln to fund exploration as well as boosting general working capital.

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Mon, 27 Apr 2015 13:28:00 -0400 https://www.proactiveinvestors.com/companies/news/68436/ximen-mining-appoints-new-director-closes-last-tranche-of-placing-79713.html
<![CDATA[News - Ximen Mining issues final tranche under C$1.05mln placing ]]> https://www.proactiveinvestors.com/companies/news/68241/ximen-mining-issues-final-tranche-under-c105mln-placing-79509.html British Columbia-focused firm Ximen Mining (CVE:XIM) has issued its final tranche of shares under the private placing announced at the end of last year to fund exploration.

The firm has issued 1.15mln shares at 15 cents  a pop and the same number of share purchase warrants entitling the bearer to buy 1.15mln shares, with an exercise price of 25 cents for two years.

In December last year, Ximen said it planned to raise up to C$900,000 but then in January said it would increase the total size of the fundraise to up to C$1.05mln.

Ximen told investors the cash would be used to fund exploration activities as well as boosting general working capital.

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Tue, 21 Apr 2015 10:31:00 -0400 https://www.proactiveinvestors.com/companies/news/68241/ximen-mining-issues-final-tranche-under-c105mln-placing-79509.html
<![CDATA[News - Ximen Mining's Brett gold project has "district-scale" potential ]]> https://www.proactiveinvestors.com/companies/news/67810/ximen-minings-brett-gold-project-has-district-scale-potential-79037.html The Brett gold property in British Columbia has "district-scale" potential, said Ximen Mining (CVE:XIM) as it ran through the exploration history at the site.

Technical advisor Steve Craig first saw samples in 1983, when the site was first discovered, and "knew it could be a major exploration play", he said.

"The property has many of the epithermal characteristics that are found in a number of Nevada’s volcanic-hosted gold districts where I have spent most of my career.”

Results from previous drilling by a previous operator included 168.3 grams per tonne (g/t) of gold from 1.3 metres before exploration was stopped in 1996 and the property was tied up in litigation before Ximen acquired an option on it in 2013.

After Ximen completed magnetic and IP surveys, a core drill programme was started late last year, with 13 holes for 2,977 metres at nine sites sunk.

Assays showed the discovery of two new high grade veins and bulk tonnage targets. Results from one vein included a standout figure of 34.18 grams per tonne (g/t) of gold over 0.9 metres, while a second vein contained 16.7 g/t over 1.5 metres.

Meanwhile, significant intervals of bulk tonnage gold mineralisation were hit.

Ximen chief executive Christopher Anderson told investors today: "The 2014 exploration programme returned excellent results from this newly emerging gold district.

"Our drilling demonstrated that the property contains a very large and strong epithermal system that has district-scale potential for both high-grade veins and low-grade, bulk tonnage gold mineralization. Our 2015 exploration programme will continue in those areas that have potential to return success.”

Ximen Mining owns 100% of two projects - the Gold Drop project and Brett Gold project, which lie in southern British Columbia.

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Tue, 07 Apr 2015 14:10:00 -0400 https://www.proactiveinvestors.com/companies/news/67810/ximen-minings-brett-gold-project-has-district-scale-potential-79037.html
<![CDATA[News - Ximen Mining looking to advance BC properties ]]> https://www.proactiveinvestors.com/companies/news/66733/ximen-mining-looking-to-advance-bc-properties-77867.html British Columbia-focused Ximen Mining (CVE:XIM) ended 2014 with C$149,464 in cash and having spent C$1.7mln on exploration and evaluation across its properties.

The Canada focused firm is focused on evaluating properties, taking them up the value curve, aiming to go through feasibility, construction to operation.

It owns 100% of the Gold Drop property and the Brett Gold project.

Yesterday, it posted final assays from last year's autumn drill programme at Brett, highlighting its discovery of two new high grade veins and bulk tonnage targets. The programme consisted of 13 holes for a total of almost 3,000 metres.

Results from one vein included a standout figure of 34.18 grams per tonne (g/t) of gold over 0.9 metres, while a second vein contained 16.7 g/t over 1.5 metres. Meanwhile, significant intervals of bulk tonnage gold mineralisation were hit.

In keeping with a firm at this stage, for the six months to end December, it posted a net loss of C$3.1mln compared to a loss of C$165,942 in the six months to end 2013.

It has no source of operating cash flows and expects to incur further losses in the exploration and development of its properties, it said.

"The company's ability to continue its operations and to realize assets at their carrying values is dependent upon obtaining additional financing or maintaining continued support from its shareholders and creditors, and generating profitable operations in the future," it said.

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Tue, 03 Mar 2015 09:27:00 -0500 https://www.proactiveinvestors.com/companies/news/66733/ximen-mining-looking-to-advance-bc-properties-77867.html
<![CDATA[News - Ximen Mining's 2014 drilling at Brett leads to two new high grade veins ]]> https://www.proactiveinvestors.com/companies/news/66672/ximen-minings-2014-drilling-at-brett-leads-to-two-new-high-grade-veins--77797.html Ximen Mining (CVE:XIM) posted final assays from last year's autumn drill programme, highlighting its discovery of two new high grade veins and bulk tonnage targets.

The programme consisted of 13 holes for a total of almost 3,000 metres.

Results from one vein included a standout figure of 34.18 grams per tonne (g/t) of gold over 0.9 metres, while a second vein contained 16.7 g/t over 1.5 metres.

Meanwhile, significant intervals of bulk tonnage gold mineralisation were hit, including 1.77 g/t of the yellow metal over 31m, 1.88 g/t gold over 16.55 m and 0.82 g/t gold over 33 metres.

Notably, Ximen said two holes ended in intervals of low grade mineralisation, which remain open to depth.

At the main zone at the site, where most of the historic drilling has taken place, high grade values were confirmed including 24.7 g/t gold over 1.3m.

Ximen owns 100% of its two projects in BC: the Gold Drop property and the Brett Golds project.

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Mon, 02 Mar 2015 13:39:00 -0500 https://www.proactiveinvestors.com/companies/news/66672/ximen-minings-2014-drilling-at-brett-leads-to-two-new-high-grade-veins--77797.html
<![CDATA[News - Ximen Mining issues fourth tranche under placing ]]> https://www.proactiveinvestors.com/companies/news/65891/ximen-mining-issues-fourth-tranche-under-placing--76927.html Ximen Mining (CVE:XIM) has issued a fourth tranche of shares under its private placing announced at the end of last year.

The firm  has issued 3.65mln shares at 15 cents each and the same number of share purchase warrants entitling the bearer to buy 3.65mln shares, with an exercise price of 25 cents for two years.

In December, Ximen said it planned to raise up to $900,000 but then on January 30 said it would increase the total size of the fundraise to up to $1.05mln.

Ximen said the cash would be used to fund exploration activities as well as boosting general working capital.

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Wed, 04 Feb 2015 07:19:00 -0500 https://www.proactiveinvestors.com/companies/news/65891/ximen-mining-issues-fourth-tranche-under-placing--76927.html
<![CDATA[News - Ximen Mining increases size of equity funding ]]> https://www.proactiveinvestors.com/companies/news/65759/ximen-mining-increases-size-of-equity-funding-76773.html Ximen Mining (CVE:XIM) has told investors it will increase the size of a fund raise by selling additional ‘non-follow through’ units.

It now proposes to issue 7mln units, comprising one common share and a non-transferable warrant, each priced at 15 cents each.

This will increase the total size of the fund raise up to $1.05mln.

Last month Ximen announced plans for the issue of 4mln units, as part of a larger placing also comprising the sale of 1.5mln units with the tax efficient ‘follow through’ status with each of those units priced at 20 cents.

The cash injection is earmarked for exploration.

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Fri, 30 Jan 2015 07:49:00 -0500 https://www.proactiveinvestors.com/companies/news/65759/ximen-mining-increases-size-of-equity-funding-76773.html
<![CDATA[News - Ximen Mining appoints new finance chief ]]> https://www.proactiveinvestors.com/companies/news/65681/ximen-mining-appoints-new-finance-chief-76689.html Ximen Mining (CVE:XIM) has hired Zenaida Manalo as its chief financial officer.

It comes after the resignation of Patrick Forseille, the mining group said.

"The company would like to thank Mr. Forseille for his service to the company as a director," it said in a brief statement.

Ximen owns 100% of two projects - the Gold Drop Project and Brett Gold Project located in southern British Columbia.

On December 24 it unveiled plans to raise up to $900,000 through private placings, saying the cash would be used to fund exploration activities as well as boosting general working capital.

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Wed, 28 Jan 2015 08:59:00 -0500 https://www.proactiveinvestors.com/companies/news/65681/ximen-mining-appoints-new-finance-chief-76689.html
<![CDATA[News - Ximen Mining to raise up to $900,000 for exploration ]]> https://www.proactiveinvestors.com/companies/news/64867/ximen-mining-to-raise-up-to-900000-for-exploration-75764.html Ximen Mining (CVE:XIM) plans to raise up to $900,000 through private placings.

It intends to sell up to 4mln units – comprising one common share and one non-transferable warrant – for a price of 15 cents per unit. 

These shares are designated as ‘non-follow through’ shares, though the company is also planning to sell 1.5mln units which will carry the tax efficient ‘follow through’ status.

The ‘follow through’ units will also comprise one share and one unit, and will be sold at 20 cents each.

Ximen says cash will be used to fund exploration activities as well as boosting general working capital.

Securities issued via the placing will be subject to a four month and one day hold period.

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Wed, 24 Dec 2014 08:27:00 -0500 https://www.proactiveinvestors.com/companies/news/64867/ximen-mining-to-raise-up-to-900000-for-exploration-75764.html
<![CDATA[News - Ximen Mining Corp appoints specialist to advisory board ]]> https://www.proactiveinvestors.com/companies/news/64326/ximen-mining-corp-appoints-specialist-to-advisory-board-75155.html Ximen Mining Corp (CVE:XIM) has appointed specialist Steven Craig to its advisory board to support the development of the Brett Gold project, in British Columbia, Canada.

Chief executive Christopher Anderson told investors that Craig’s addition to the advisory board brings Ximen’s management team additional technical and marketing depth.

“He will advise and assist us as we develop the Brett gold project. He further shares our vision and enthusiasm for the Brett gold project,” Anderson added.

“His decades of experience in volcanic-hosted epithermal gold systems will provide great stewardship, and his professional relationships throughout North America provide invaluable contacts as Ximen moves forward."

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Mon, 08 Dec 2014 12:38:00 -0500 https://www.proactiveinvestors.com/companies/news/64326/ximen-mining-corp-appoints-specialist-to-advisory-board-75155.html
<![CDATA[News - Ximen Mining awaiting assays as Brett drill programme completes ]]> https://www.proactiveinvestors.com/companies/news/64004/ximen-mining-awaiting-assays-as-brett-drill-programme-completes-74790.html Ximen Mining (CVE:XIM) is awaiting the assays from a further eight holes from the Brett gold property in British Columbia after its diamond drill programme there has been completed.

Drilling has hit both high grade gold and lower grade bulk-tonnage style mineralisation, the firm has previously announced.

Highlights from the first five holes, already reported, included 0.9 metres at at 34.18 g/t gold and 1.3 metres at 24.7 g/t of gold.

In total, 13 holes totalling 2,977 metres were drilled from nine sites over an area measuring around one km east-west by 850 m north-south, Ximen said.

In all, 1810 drill core samples were collected and have been submitted to the labs for analysis.

Earlier this month, the firm said the 2014 exploration programme was "extremely encouraging".

Of the five holes, it said: "These initial drill results from the 2014 drill programme 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 mineralisation."

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Thu, 27 Nov 2014 07:49:00 -0500 https://www.proactiveinvestors.com/companies/news/64004/ximen-mining-awaiting-assays-as-brett-drill-programme-completes-74790.html
<![CDATA[News - Ximen Mining encouraged by exploration programme; results in for first five holes ]]> https://www.proactiveinvestors.com/companies/news/63479/ximen-mining-encouraged-by-exploration-programme-results-in-for-first-five-holes-74173.html Ximen Mining (CVE:XIM) has hit both high grade gold and lower grade bulk-tonnage style mineralisation at the Brett gold property in British Columbia.

Today, the company reported the results from the first five holes, representing 1,033 metres of the 2014 programme

The holes tested the new vein-style target called the 490 Gold Zone, which is east of the main zone - where most of the historical drilling took place.

Highlights of the high grade intersections include 0.9 metres at at 34.18 g/t gold and 1.3metres at 24.7 g/t of the yellow metal, Ximen said.

The bulk tonnage results included 30.10m at 1.82 g/t gold and 33m at 0.82 g/t gold.

Importantly, the mineralisation remains open laterally and  on strike and to depth.

So far, the company's drill programme has completed 11 holes for 2412 metres and hole 12 is currently underway. 

"The 2014 exploration programme is extremely encouraging," said the company. 

"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 mineralisation."


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Mon, 10 Nov 2014 13:38:00 -0500 https://www.proactiveinvestors.com/companies/news/63479/ximen-mining-encouraged-by-exploration-programme-results-in-for-first-five-holes-74173.html
<![CDATA[News - Ximen Mining updates on positive findings of 2014 programme at Brett ]]> https://www.proactiveinvestors.com/companies/news/63364/ximen-mining-updates-on-positive-findings-of-2014-programme-at-brett-74035.html Ximen Mining (CVE:XIM) updated on drilling at its Brett gold property in British Columbia, saying 10 holes had now been sunk.

The firm's work programme this year has successfully identified the potential for both high-grade veins and for lower grade, bulk tonnage mineralisation, the firm confirmed.

The first five holes, representing 1,033 metres, tested a new high-grade vein-style target called the 490 Gold Zone, east of the main zone, where most of the historical drilling took place.

Veining and breccia zones have been hit in all five holes drilled by the company this year.

The 490 Gold Zone can be traced at surface and was tested by drilling for only a 100m strike length near the southern portion of its known strike extent. 

It remains open on-strike and to depth, the firm said.

Last month, the firm said the sixth hole had returned some very interesting results, saying it hit a style of alteration  indicative of possible bulk-tonnage type gold mineralisation.

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Wed, 05 Nov 2014 18:04:00 -0500 https://www.proactiveinvestors.com/companies/news/63364/ximen-mining-updates-on-positive-findings-of-2014-programme-at-brett-74035.html
<![CDATA[News - Ximen Mining issues second tranche under placing ]]> https://www.proactiveinvestors.com/companies/news/62856/ximen-mining-issues-second-tranche-under-placing--73436.html Canadian junior Ximen Mining (CVE:XIM) has issued a second tranche of shares under its earlier announced private placing.

As reported earlier this month, a first tranche of this financing totalling around 1.39mln units has closed.

Each unit consisted of one common share and one share purchase warrant.

Now, the firm has issued 910,000 shares at 30 cents each for C$273,000.

Ximen owns two projects, Gold Drop and Brett Gold, in southern British Columbia.

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Mon, 20 Oct 2014 10:03:00 -0400 https://www.proactiveinvestors.com/companies/news/62856/ximen-mining-issues-second-tranche-under-placing--73436.html
<![CDATA[News - Ximen Mining's sixth hole at Brett gold property shows interesting results ]]> https://www.proactiveinvestors.com/companies/news/62682/ximen-minings-sixth-hole-at-brett-gold-property-shows-interesting-results-73232.html Ximen Mining (CVE:XIM) said the sixth hole of its drilling campaign on the Brett epithermal gold property in British Columbia returned some very interesting results.

The company said it intersected widespread strong silicification with associated pyrite mineralisation.

“This style of alteration is indicative of possible bulk-tonnage type gold mineralisation assays pending,” it added.

Hole 14-06 is the first hole ever drilled at the Border Zone, which straddles the boundary between the original Brett claims and Ximen’s newly acquired Gold Star area to the west.

A strong gold-silver-arsenic anomaly was defined by a recently-completed soil geochemical survey over the area and elevated gold values were returned from limited rock samples collected, Ximen pointed out.

The Border Zone was identified as an area of interest after the recent ground magnetometer survey.

Hole 14-06 was drilled to a total depth of 305 metres and intercepted several zones of intense silicification - the largest being a 28.1 metres from 31.5 metres.

Other intercepts measured 9, 10.5 and 16 metres in core length.

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Tue, 14 Oct 2014 14:04:00 -0400 https://www.proactiveinvestors.com/companies/news/62682/ximen-minings-sixth-hole-at-brett-gold-property-shows-interesting-results-73232.html
<![CDATA[News - Ximen Mining starts drilling in Border Zone ]]> https://www.proactiveinvestors.com/companies/news/62592/ximen-mining-starts-drilling-in-border-zone-73139.html Canadian junior Ximen Mining (CVE:XIM) has started drilling to test the Border Zone, a previously undrilled target between the Brett property and the former Gold Star property to the west.

Ximen said the hole is in an area of intense alteration, with quartz veining just west of the Main Zone.

A strong gold-silver-arsenic anomaly was defined by a recently completed soil geochemical survey over the area and elevated gold values, to 599 ppb (parts per billion) Au, 417 ppb Au and 204 ppb Au, were returned from limited rock samples.

The company added it had also increased its non-brokered private placement financing announced on 22 September.

The financing will now consist of 2.5mln units at a price of 30c per unit for gross proceeds of US$750,000. All other terms will remain the same.

A first tranche of this financing totalling around 1.39mln units has closed. Each unit consists of one common share and one share purchase warrant.

Ximen owns two projects, Gold Drop and Brett Gold, in southern British Columbia.

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Fri, 10 Oct 2014 10:19:00 -0400 https://www.proactiveinvestors.com/companies/news/62592/ximen-mining-starts-drilling-in-border-zone-73139.html
<![CDATA[News - Ximen Mining's Brett gold property is a tantalising prospect ]]> https://www.proactiveinvestors.com/companies/news/62341/ximen-minings-brett-gold-property-is-a-tantalising-prospect-72870.html The early indications are that Ximen Mining (CVE:XIM) has a tiger by the tail in the form of the Brett gold property in British Columbia.

Historic work on the project points to bonanza grades of the precious metal – giving us the tantalising prospect of an internationally significant deposit.

The first two holes from the current drilling campaign lend some support to the earlier findings having intercepted mineralisation in a high-grade target area called the 490 Gold Zone.

Put this together with a highly competent technical team, and a methodical approach to exploration that wouldn’t look out of place at a mining major, and you have some of the key ingredients for success.

The group has sewn up what it believes could become a major new gold district, increasing its footprint from an initial 2,700 hectares to 21,000.

It has done this via two acquisitions and it has also been physically staking the areas it was interested in.

It has done most of this work under the radar and at minimal overall cost.

The Brett asset, which had been bound in litigation, became available towards the end of last year - a point when the market couldn’t be less interested in gold exploration plays.

The Ximen team is led by chief executive and industry veteran Christopher Anderson.

He is supported by Linda Caron and Al Beaton, who have decades of experience exploring for and producing gold in British Columbia, while Michael Rasmussen brings with them big company discipline.

Their imprint has been left on the work done to date with the group approaching the early exploration phase in much the same way a much larger miner might.

In other words little has been left to chance.

The major pieces of science brought to bear on Brett have been the magnetometer and very low frequency electromagnetic surveys.

And they appear to support the team’s theory Brett is host to an epithermal gold system.

Meanwhile, some 12,000 metres of diamond drilling, carried out during the 1980s, suggests the property is peppered with high grade mineralisation from seven grams up to an eye-catching 168 grams of the yellow metal.

The team was originally looking at what it thought would be 15 to 20 of the shear systems. However, it appears they may be onto something a lot larger.

The technical work carried out by Ximen suggests Brett may be the source of the disseminated gold in the area.

Interestingly, it is similar in scale and mineralisation to the Republic Gold District in Washington.

The group has embarked on the first four holes of a 3,000-metre drilling programme that will be used to help re-confirm the historic results.

The work is currently focused on a new high priority target east of the Main Zone, where only one hole was previously drilled and returned a grade of 4.9 ounces per tonne over 1.3 metres. This area is now known as the 490 Gold Zone.

It will also carry out work on a target identified earlier this year using ground magnetic and very low frequency electromagnetics.

Ximen’s geologists reckon it could be similar to NewGold’s Blackwater discovery in central British Columbia.

That deposit is epithermal-hosted within similar volcanic and volcaniclastic rocks to those on the Brett property. And it is a monster at more than 10mln ounces of gold and 65mln ounces of silver.

It is clear this modest initial programme will barely scratch the surface, which begs the question why Ximen didn’t tap investors for a substantially larger sum.

It is probably that Anderson and the team are looking to bring the project quickly along the value chain before returning to the market for more cash.

If the funding strategy works, then it is a far less dilutive method of using Ximen’s equity than a quick and early ‘splash and dash’.

The group also owns the Gold Drop property, also in British Columbia. However, the focus remains on the Brett project.

This focused approach will provide shareholders the best return.

With only 16mln shares in the market and the stock tightly held (management and major shareholders own 40%), the price will undoubtedly move if Ximen can replicate previous results, analysts said.

In an established mining district with good infrastructure and a stable political backdrop, Brett would, if all the early work on the property stacks up, be likely to attract acquisition interest.

Our verdict: Definitely one to watch.

www.ximenminingcorp.com

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Thu, 02 Oct 2014 13:48:00 -0400 https://www.proactiveinvestors.com/companies/news/62341/ximen-minings-brett-gold-property-is-a-tantalising-prospect-72870.html
<![CDATA[News - Ximen intersects new 490 gold zone at Brett with first two holes ]]> https://www.proactiveinvestors.com/companies/news/62191/ximen-intersects-new-490-gold-zone-at-brett-with-first-two-holes-72704.html Ximen Mining (CVE:XIM) has said that a 40-metre step out hole down dip has successfully hit the new 490 Gold Zone at its Brett gold property in British Columbia.

The hole is the second of the current diamond drill program at the property, with both holes completed thus far in this year's campaign having intersected the new zone, the company said.

The only previous drill hole into this zone was a 2004 drill hole that ran 168 grams per tonne over 1.3 metres.

The second hole from this year's drilling, reported today, is a 40 metre step out from the intersection in the first hole, testing the 490 Zone at a deeper level.  

The latest hole intersected 2.7 metres of quartz-carbonate breccia, the company said, at a vertical depth of 150 metres below surface. Further down the hole, a 1.3 metre zone of mineralization was encountered, it added. 

Sampling of the hole is now underway, with drilling having now started on the third hole of the program, which will test mineralization 50 metres on strike to the south from the first two holes.

Ximen said further drilling is needed to determine the strike, dip and true width of the zone, which is characterized by what it calls "exceptional" gold grades and indicative of an elevation control for gold at a deeper level than ever previously tested on the property.

"We are extremely encouraged that we hit our new target (490 Gold Zone) in the first two drill holes," the company said in its statement.

"Although we are just at the beginning of the drill program it helps to begin to validate our geological model for the property.

"Not only does this intersection help us define the geometry of the zone but it begins to build size to the target and it indicates potential for continuation to depth.”  

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Wed, 24 Sep 2014 11:02:00 -0400 https://www.proactiveinvestors.com/companies/news/62191/ximen-intersects-new-490-gold-zone-at-brett-with-first-two-holes-72704.html
<![CDATA[News - Ximen Mining successfully completes first hole at Brett gold property ]]> https://www.proactiveinvestors.com/companies/news/61983/ximen-mining-successfully-completes-first-hole-at-brett-gold-property-72491.html Ximen Mining (CVE:XIM) told investors it has now successfully completed the first hole of its 2014 programme at the Brett gold property, British Columbia.

The exploration hole was designed to test the Brett property’s 490 gold zone – which in the past returned gold grades as high as 168 grams per tonne.

It was located just 10 metres from that historic high grade hole and was drilled to a depth of 120 metres.

Ximen said that drilling encountered a zone described as “visually similar” to the high grade area, and samples have now been taken for further analysis.

"We are extremely pleased to have a highly experienced and confident exploration team working on Brett Property,” the company said.

“Hole 14-01 was targeted and successfully completed as modelled. 

“We believe this exciting new programme on the Brett, the first comprehensive programme on the property in 10 years, will begin to validate our teams belief of a District Scale potential at the Brett." 

Ximen also announce, as part of the statement, that it has arranged a non-brokered private placing. 

It will issue 2mln units, comprising on common share and one share warrant, priced at 30 cents each. A total of $600,000 will be raised via the private placing.

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Mon, 22 Sep 2014 17:24:00 -0400 https://www.proactiveinvestors.com/companies/news/61983/ximen-mining-successfully-completes-first-hole-at-brett-gold-property-72491.html
<![CDATA[News - Ximen Mining acquires six tenements in BC ]]> https://www.proactiveinvestors.com/companies/news/61836/ximen-mining-acquires-six-tenements-in-bc-72330.html Canada-listed gold explorer Ximen Mining (TSXV:XIM) has acquired six Crown Grants near Greenwood, British Columbia.

The family-owned lots are south and adjacent to the Dentonia Mine property, which hosts a strong, northeast-trending, east-dipping gold-bearing quartz vein that has been explored and developed intermittently since the late 1890’s.

Approximately 125,000 tonnes has been produced at Dentonia, at an average grade of 10.8 g/t gold and 64.6 g/t silver. 

To acquire a 100% legal and beneficial interest in the properties subject to a 2% NSR, Ximen will issue 150,000 shares.

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Wed, 17 Sep 2014 12:42:00 -0400 https://www.proactiveinvestors.com/companies/news/61836/ximen-mining-acquires-six-tenements-in-bc-72330.html
<![CDATA[News - Ximen Mining kicks off drilling at Brett gold project ]]> https://www.proactiveinvestors.com/companies/news/61834/ximen-mining-kicks-off-drilling-at-brett-gold-project-72329.html Ximen Mining (CVE:XIM) has kicked off a drill programme at the Brett epithermal gold property, in British Columbia, Canada.

At least 3,000 metres of drilling is planned across fifteen holes, with the aim of unearthing the potential of the property.

Ximen said work carried out this year has resulted in a new and exciting geological model for the Brett property, with a plethora of gold targets.

It has staked and acquired new areas taking its footprint to 21,000 hectares from 2,250. The programme starting today will test just a few targets within one quadrant of this comprehensive land package, it added.

Cristopher Anderson, Ximen’s president and chief executive, said: “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."

The first 1,500 to 2,000 metres of drilling will focus upon high grade targets close to the deposit's main zone. 

In particular it will test the Amethyst Dyke zone, an area that provided the project’s highest grade exploration result to date – 4.9 ounce per tonne over 1.3 metres, according to Ximen. Until now this area has remained untested by subsequent drilling.

Through the second part of the programme drilling will target an untested newly discovered area, a magnetic low anomaly measuring 1.1km by 1.1km.

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Thu, 11 Sep 2014 15:00:00 -0400 https://www.proactiveinvestors.com/companies/news/61834/ximen-mining-kicks-off-drilling-at-brett-gold-project-72329.html
<![CDATA[News - Ximen climbs on Brett property exploration findings ]]> https://www.proactiveinvestors.com/companies/news/62193/ximen-climbs-on-brett-property-exploration-findings-72706.html Ximen Mining's (CVE:XIM) shares rallied on Tuesday after the company announced the results from a recent induced polarization survey on its Brett gold property in British Columbia, saying it found two strong prominent features in conjunction with a previous magnetic survey.

The first feature is a strong north-south trending chargeability anomaly, and has a defined strike length of 1 km, remaining open to the south beyond the limits of the survey, according to Ximen's statement released earlier today.

The second is a sub-parallel chargeability anomaly detected on the west margin of a large magnetic low, exceeding 1 km in width and accompanied by a modest "resistivity response", Ximen said.

The company is currently working to model the results, so as to define targets for testing by diamond drilling.

Ximen also said Tuesday that a new geological model for the Brett property, based on work completed this summer, indicates district-scale potential for gold mineralization in the area, suggesting the potential for both high grade veins and for larger, lower grade bulk tonnage mineralization. 

Based on this work, the junior mineral explorer has expanded its land position from 2,250 at the beginning of the season to in excess of 21,000 hectares by staking and via acquisition. 

This new ground includes the Gold Star property, which covers the area immediately west of the Brett main zone. This area is a high priority target for testing in the company's upcoming diamond drill program, it said.

Shares of Ximen, which also said a further exploration update will be announced shortly, saw its shares jump 11.9 percent to 47 Canadian cents, reaching a high of 48 cents on Tuesday. Since the beginning of January, the stock has advanced nearly 57 percent.

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Tue, 09 Sep 2014 11:31:00 -0400 https://www.proactiveinvestors.com/companies/news/62193/ximen-climbs-on-brett-property-exploration-findings-72706.html
<![CDATA[News - Ximen Mining commences IP survey at Brett gold project ]]> https://www.proactiveinvestors.com/companies/news/60821/ximen-mining-commences-ip-survey-at-brett-gold-project-71253.html Ximen Mining (CVE:XIM) disclosed that the induced polarisation survey on its Brett property in southern British Columbia has kicked off.

In all, the company intends to survey a 20 kilometre (km) line to test the large magnetic low anomaly that was defined by the recently completed ground magnetic survey, as well as an additional 400 metres to the north.

The newly discovered magnetic low anomaly measures 1.1 by 1.1 km in size and remains open to the north and east, Ximen said.

The size and strength of the anomaly suggests a very large alteration zone, extending laterally well beyond the exposures seen at the Gossan zone and Milo trench, the company added.

Elsewhere on the property, similar but much smaller magnetic low anomalies are associated with known gold-bearing epithermal veins and associated magnetite-destructive alteration.

The induced polarisation survey is expected to provide subsurface definition within the large target area for drill testing in the upcoming diamond drill programme.

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Wed, 13 Aug 2014 10:34:00 -0400 https://www.proactiveinvestors.com/companies/news/60821/ximen-mining-commences-ip-survey-at-brett-gold-project-71253.html
<![CDATA[News - Ximen Mining pleased with Gold Drop samples ]]> https://www.proactiveinvestors.com/companies/news/60312/ximen-mining-pleased-with-gold-drop-samples-70711.html Toronto-listed Ximen Mining (CVE:XIM) declared itself pleased with the results of initial rock samples from the Gold drop property in British Columbia.

Of 40 samples taken from the north vein system, nine returned values of greater than 10 grams per tonne  (g/t) of the yellow  metal, to a maximum of 56.2 g/t gold over 0.55m true thickness, the company said.

Exploration, including trenching, is now continuing to explore other targets on the property, Ximen revealed.

The upper north star vein has now been traced over a strike length of 315 metres, and 13 samples were also collected from a 22.5m exploration drift that tests the Upper North Star vein around 2m below the southern end of the Ximen excavator trench.

Results of the underground sampling were lower than the above surface samples, returning a maximum of 2.06 g/t gold over a vein width of 0.8 metres.

The company also unveiled a non-brokered placing to raise C$1million with the issue of around 1.818 units at C$0.55 per unit - a slight discount to the current price of C$0.57.

Each unit will consist of one common share and one-half of one non-transferable common share purchase warrant. Each full Warrant will entitle the holder to purchase one further common share at $1.00 per warrant share for 12 months from the closing of the placing.

Ximen owns 100% of two projects in BC -  Gold Drop Project and Brett Gold Project.

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Fri, 25 Jul 2014 10:47:00 -0400 https://www.proactiveinvestors.com/companies/news/60312/ximen-mining-pleased-with-gold-drop-samples-70711.html
<![CDATA[News - Ximen Mining pleased with Gold Drop samples ]]> https://www.proactiveinvestors.com/companies/news/102491/ximen-mining-pleased-with-gold-drop-samples-102491.html Toronto-listed Ximen Mining (CVE:XIM) declared itself pleased with the results of initial rock samples from the Gold drop property in British Columbia.

Of 40 samples taken from the north vein system, nine returned values of greater than 10 grams per tonne  (g/t) of the yellow  metal, to a maximum of 56.2 g/t gold over 0.55m true thickness, the company said.

Exploration, including trenching, is now continuing to explore other targets on the property, Ximen revealed.

The upper north star vein has now been traced over a strike length of 315 metres, and 13 samples were also collected from a 22.5m exploration drift that tests the Upper North Star vein around 2m below the southern end of the Ximen excavator trench.

Results of the underground sampling were lower than the above surface samples, returning a maximum of 2.06 g/t gold over a vein width of 0.8 metres.

The company also unveiled a non-brokered placing to raise C$1million with the issue of around 1.818 units at C$0.55 per unit - a slight discount to the current price of C$0.57. 

Each unit will consist of one common share and one-half of one non-transferable common share purchase warrant. Each full Warrant will entitle the holder to purchase one further common share at $1.00 per warrant share for 12 months from the closing of the placing.

Ximen owns 100% of two projects in BC - the Gold Drop project and the Brett Gold project.

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Fri, 25 Jul 2014 05:47:00 -0400 https://www.proactiveinvestors.com/companies/news/102491/ximen-mining-pleased-with-gold-drop-samples-102491.html