18:21:01 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Ximen Mining Corp
Symbol XIM
Shares Issued 15,415,022
Close 2014-08-21 C$ 0.48
Market Cap C$ 7,399,211
Recent Sedar Documents

Ximen completes Brett survey, cancels private placement

2014-08-21 19:49 ET - News Release

Mr. Christopher Anderson reports

XIMEN COMPLETES IP SURVEY ON THE BRETT GOLD PROPERTY, VERNON, B.C.

Ximen Mining Corp. has completed its induced polarization survey on the Brett property. A total of 20 line kilometres of survey were covered to test the large magnetic-low anomaly that was defined by the recently completed ground magnetic survey, as well an additional 400 metres to the north. The newly discovered mag-low anomaly measures 1.1 by 1.1 kilometres in size and remains open to the north and east. It is a blind target under glacial till cover, with minimal rock exposed on surface. Elsewhere on the property, similar (but much smaller) magnetic-low anomalies are associated with known gold-bearing epithermal veins and associated magnetite-destructive alteration. Results of the IP survey will be announced shortly, including an overall update on the Brett property, including an exploration update from the Gold Drop property.

The company also announces that further to its news release dated April 21, 2014, the company confirms that it will not be proceeding with the previously announced $5-million financing at an issue price of $1.10 per common share.

The company further announces that it will not proceed with an option grant announced on July 17, 2014. The company will grant options to purchase one million shares to certain officers, consultants and directors of the company. The options shall be exercisable at a price of 50 cents per share and shall have a term of two years.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.