Proactive Investors - Run By Investors For Investors

Exploration work kicks off at Ximen Mining’s Treasure Mountain silver project

Ximena's option partner New Destiny Mining 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
ximen mining
The Treasure Mountain Silver Property consists of 10,700 hectares of ground near a historic silver-lead-zinc mine

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 [email protected]

Follow her on Twitter @AHarmantas

View full XIM profile View Profile

Ximen Mining Corp Timeline

Related Articles

1551788790_shutterstock_249210421-(1).jpg
March 05 2019
The deal transforms Royal Road into a major player in one of the world's most prospective gold districts
1556717993_Vanadium-electrolyte-batteries.jpg
May 24 2019
Bushveld is hoping to increase vanadium production significantly following completion of South African deal
1539587791_Kavango.jpg
October 15 2018
KSZ holds potential for world class base and precious metals deposits
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use