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
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