logo-loader
viewXimen Mining Corp

Ximen Mining snaps up more ground in BC, acquiring a property which includes several historic gold and silver mines

At the historic Protection mine, 10,719 ounces of gold and 82,824 ounces of silver were generated

Ximen Mining Corp -
The package includes a tailings deposit from the historic Wilcox mine, which was a small, high-grade gold producer, which processed 14,555 tonnes of ore

Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) revealed it has increased its ground once again, snapping up a property in British Columbia which includes several historic gold-silver mines and prospects.

The new asset is near Ymir in the south of the province and consists of 11 claims covering around 1,600 hectares. The small mines include the Protection (Goodenough), Blackcock, Arizona, Ymir-Good Hope, Commodore and also part of the Ymir historic mines.

READ: Ximen Mining planning drone survey at flagship Brett gold project

At the Protection mine, for example, 10,719 ounces of gold and 82,824 ounces of silver were generated historically.

Ximen paid 600,000 of its shares to an arm's length vendor to acquire the property.

With this latest acquisition, Ximen's land package in the Nelson-Ymir-Salmo area of British Columbia now amounts to around 16,495 hectares, the resource group noted in a statement.

The new claims also cover four other prospects with similar styles of mineralization including the Ymir Belle prospect, which saw small production, Ximen added.

It also includes a tailings deposit from the historic Wilcox mine - a small, high-grade gold producer with a mill that processed around 14,555 tonnes of ore between 1900 and 1940.

A report in 2005, by Vancouver-based Crucible Engineering Services, put tonnage at the Wilcox mine tailings deposit at 12,387 tonnes, based on depth and specific gravity measurements.

The in-situ gold potential was then estimated as 1,230 ounces of gold. An average gold recovery rate of 80% was projected based on metallurgical test results available.

The average grade of the tailings deposit was estimated at 3.09 grams gold per tonne (g/t).

Ximen shares advanced 12.73% to C$0.62 each in Toronto.

---Updates for share price---

Contact the author at [email protected]

Quick facts: Ximen Mining Corp

Price: 0.5 CAD

TSX-V:XIM
Market: TSX-V
Market Cap: $28.07 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

Watch

Full interview: Ximen Mining plans to get crews safely back to work at...

Ximen Mining (CVE: XIM- OTC: XXMMF) President and CEO Christopher Anderson joined Steve Darling from Proactive Vancouver to share news the company is planning to send workers back to the Greenwood Mining camp in June. Anderson saying they are putting new protocols in place to protect those...

on 05/29/2020

2 min read