viewXimen Mining Corp

Ximen Mining completes new mine portal, rail access at historic Kenville gold mine in BC

The installation of the new portal culvert is now complete, providing access to the Kenville mine 257 level

Ximen Mining Corp -
A 'golden spike' was hammered in to link the two railway lines

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) (FRA:1XMA) said it has completed the new access to its historic Kenville gold mine project in British Columbia and connected a new railway line to the tracks of the old underground mine.

"The installation of the new portal culvert is now complete, providing access to the Kenville mine 257 level. The final stages included placement of back-fill, construction of a door on the outside of the culvert, an as-built survey, and installation of rail ties and track," the firm said in the statement.

READ: Ximen Mining laying railway track at Kenville project; closes C$408,000 placing

Ximen has refurbished the existing portal (entrance to the mine) so it can gain access to mineralization, which was outlined in a resource estimate of 2009. The precious metals explorer's release also included a picture of CEO Christopher Anderson hammering in a so-called "golden spike" connecting the new rail line with the 257 level tracks.

The Kenville mine in the Nelson camp reportedly produced 65,236 ounces of gold and 27,686 ounces of silver between 1889 and 1956.

Permitting for the new mine development is also progressing well with public notifications and responses completed, said Ximen in today's statement. The final application has now been submitted to the mines review committee, it added.

The company also said it has closed a private placing at C$0.36 per unit, for gross proceeds of C$250,000, plus another private placement consisting of 595,240 'flow through' shares at C$0.42 each, also for gross proceeds of C$250,000.

The net proceeds from the private placements will be used for the further exploration at its assets in BC and for general working capital, the company said.

Contact the author at [email protected]

Quick facts: Ximen Mining Corp

Price: 0.34 CAD

Market: TSX-V
Market Cap: $24.07 m

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