leadf
logo-loader
viewXimen Mining Corp

Ximen Mining outlines 2020 exploration plans for Amelia gold mine project; closes C$140,550 placing

In June last year, the firm announced the deal to acquire properties in Camp McKinney near Baldy Mountain Resort

Ximen Mining Corp -
Amelia 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

Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) is planning geochemical and geophysical surveys followed by diamond drilling at its historic Amelia gold mine property in British Columbia this year, it told investors. 

In June last year, the firm announced the deal to acquire properties in Camp McKinney near Baldy Mountain Resort. 

READ: Ximen Mining set to increase footprint in British Columbia with Armelia gold mine acquisition

The group got its hands on grounds covering 1,718 hectares surrounding and including the historic Amelia gold mine -  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.

The average recovered gold grade was 24.68 grams per tonne gold, according to BC Minfile.

"For 2020, Ximen is planning geochemical and geophysical surveys followed by diamond drilling. The goal is to locate extensions and parallel veins. Permitting will commence imminently," Ximen said in a statement on Thursday.

Closes placing

In the same statement, Ximen said that it had now closed its non-brokered private placing, raising gross proceeds of C$140,550.

It issued 468,500 units, each consisting of one share for C$0.30 and one transferable share purchase warrant.

Each whole warrant allows the holder for 18 months from issue, to buy one additional share for C$0.45 each.

The net proceeds will be used for the further exploration in British Columbia and for general working capital, it added.

Ximen shares in Toronto nudged up 3.33% to C$0.31 each.

Contact the author at giles@proactiveinvestors.com

Quick facts: Ximen Mining Corp

Price: 0.44 CAD

TSX-V:XIM
Market: TSX-V
Market Cap: $26.7 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ximen Mining Corp named herein, including the promotion by the Company of Ximen Mining Corp in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Ximen Mining adds to their Greenwood Mining district by acquiring additional...

Ximen Mining (CVE: XIM- OTCQB: XXMMF) President and CEO Chris Anderson joined Steve Darling from Proactive with news the company has staked additional claims near their Greenwood mining Project. Anderson also talked about all the work that has been done so far on their Kenville Gold mine...

on 07/29/2020

2 min read