Ximen Mining Selective Sampling Results from its 2016 Drill Program Brett Gold Project, Vernon BC Canada
Vancouver, British Columbia (FSCwire) - (TSX-V: XIM) Ximen Mining Corp. (the “Company” or “Ximen”) announces that it has completed the diamond drill program on the Brett Epithermal Gold-Silver Property, located 30 kilometres west of Vernon, BC. A total of 16 HQ diamond drill holes totaling 2364 meters, were drilled into specific targets between July and September 2016. Assay results from a few selected intervals of the drill holes returned significant results. Additional sampling of the drill core is being carried out so that the Company will have all holes fully assayed. The assay results will be released upon receipt.
“We are extremely pleased with the work that has been complete so far this year, and that our market cap has appreciated over 300%. The company is now in a superior position to advance the Brett Gold project, since we own it 100% and have no further cash commitments. Prudent decisions are currently being made to advance the project as the technical team sees appropriate.” says Christopher Anderson, president and chief executive officer of Ximen Mining.
Some of the significant results of the selected intervals are as follows:
| HoleNo. | From | To | Length | Au. | Ag. |
| meters | meters | meters | gpt | gpt | |
| 1 | 90.83 | 91.83 | 1 | 18.95 | |
| 91.83 | 92.83 | 1 | 0.771 | ||
| 92.83 | 93.83 | 1 | 0.418 | ||
| 93.83 | 94.83 | 1 | 0.835 | ||
| 2 | 80.54 | 81.64 | 1.10 | 3.13 | |
| 81.64 | 82.70 | 1.06 | 0.32 | ||
| 82.70 | 83.81 | 1.11 | 3.66 | ||
| 11 | 61.00 | 62.00 | 1.00 | 1.635 | 8.7 |
| 62.00 | 62.58 | 0.58 | 13.35 | >1.00 | |
| 62.58 | 63.63 | 1.05 | 0.771 | 4.8 | |
| 17 | 139.00 | 139.50 | 0.5 | 5.700 | 3.2 |
| 139.50 | 141.40 | 0.9 | 1.300 | 3.5 | |
| 141.40 | 142.00 | 0.6 | 0.849 | 2.9 | |
| 142.00 | 143.00 | 1.0 | 1.005 | 3.5 | |
| 19 | 92.0 | 93.0 | 1.0 | 3.440 | 13.4 |
| 93.0 | 94.0 | 1.0 | 4.150 | 46.7 | |
| 21 | 83.0 | 84.0 | 1.0 | 2.38 | 5.5 |
| 22 | 27.0 | 28.0 | 1.0 | 3.09 | 4.7 |
| Hole No. | North | East | Elv. | Dip | Length m. |
| 2016-01 | 5567739 | 309928 | 1261 | -50 | 130.45 |
| 2016-02 | 5567753 | 309914 | 1258 | -50 | 121.92 |
| 2016-05 | 5567765 | 309937 | 1270 | -50 | 106.68 |
| 2016-06 | 5567742 | 309996 | 1253 | -50 | 134.62 |
| 2016-07 | 5567669 | 309938 | 1243 | -50 | 166.84 |
| 2016-10 | 5567852 | 309901 | 1311 | -50 | 142.44 |
| 2016-11 | 5567850 | 309879 | 1307 | -50 | 133.20 |
| 2016-13 | 5568094 | 309794 | 1391 | -50 | 166.85 |
| 2016-14 | 5567663 | 309937 | 1245 | -50 | 200.08 |
| 2016-16 | 5568009 | 309816 | 1347 | -50 | 136.34 |
| 2016-17 | 5568036 | 309830 | 1358 | -50 | 181.78 |
| 2016-18 | 5566914 | 310302 | 1040 | -50 | 188.19 |
| 2016-19 | 5568157 | 309792 | 1387 | -80 | 179.04 |
| 2016-20 | 5568154 | 309792 | 1388 | -50 | 84.49 |
| 2016-21 | 5568195 | 309769 | 1395 | -80 | 191.24 |
| 2016-22 | 5568246 | 309756 | 1403 | -80 | 99.70 |
Table 2: Drill hole Locations
Note ; 2016 Drill Holes 3,4,8,9,12 have not been drilled as of yet
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A total of 553 core samples where submitted to ALS Canada Ltd. and analyzed for Au. and Ag., including a 32 element I.C.P. analysis. Blanks and standards for all sample series in accordance to 43-101 guidelines was carried out by ALS.
Epithermal gold silver mineralization on the Brett property consists of native gold, electrum and argentite and is associated with multiphase silicification, chalcedony breccias, veins, stockwork veinlets as well as late-state calcite fillings within the silicified zones and veinlets. The structural orientations and interpretation of the breccia zones, veins and veinlets from the systematic drilling carried out to date is being compiled to delineate higher grade bonanza shoots close to existing underground workings. Systematic channel sampling is also planned in the historic open pit to determine the limits of the mineralization.
Past drilling assay results have returned many bonanza-grade drill intercepts through the Main Zone structure. The best one to date is from hole R-88 with 4.9 ounces per ton (169.6 gpt) over 25.1 feet (7.65 m). Additionally, 10 more intercepts of over one ounce per ton are reported while another 14 intercepts ranging from 0.3 opt to 1.0 ounce per ton are also reported. Besides multiple high grade drilling intercepts, 291 tonnes of ore was removed and processed at the Cominco smelter in Trail, where the recovered values averaged 27.74 g/t Gold and 63.7 g/t Silver.
Mohan R. Vulimiri, M.Sc., P.Geo, Technical Advisor, is a Qualified Person as defined by NI 43-101. Mr. Vulimiri has approved the technical content contained in this press release
The Company has granted 1,200,000 stock options at an exercise price of 12 cents per share. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the Company.
On behalf of the Board of Directors,
“Christopher R. Anderson”
Christopher R. Anderson,
President, CEO and Director
Ximen Mining Corp. 604 488-3900
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in all three of its precious metal projects. Ximen`s two Gold projects, The Gold Drop Project and Brett Gold Project located in southern British Columbia. Ximen also owns the Treasure Mountain Silver project adjacent to the past producing Huldra Silver Mine. Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XM and WKN with the number as A1W2EG
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900
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public://news_release_pdf/ximen11212016.pdf
Source: Ximen Mining Corp. (TSX Venture:XIM)
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