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Ximen Mining Corp (2)
Symbol XIM
Shares Issued 39,412,564
Close 2019-09-10 C$ 0.42
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Ximen partner starts drilling at Treasure Mountain

2019-09-11 06:16 ET - News Release

Mr. Christopher Anderson reports


Ximen Mining Corp.'s option partner, New Destiny Mining Corp., has begun drilling at its Treasure Mountain silver property, located near Tulameen, B.C.

Diamond drilling commenced with the first hole at the Superior (Lucky Todd) area, one of at least four holes to be drilled at this prospect. Drilling is targeted at the mineralized zones exposed in trenches completed earlier this season. The target is a porphyry copper-gold deposit.

As previously announced in a news release dated Aug. 14, rock sample geochemical results from the Superior (Lucky Todd) prospect ranged up to 1.6 per cent copper, 0.87 gram per tonne gold and 109 grams per tonne silver in one sample, and 0.36 per cent copper and 3.99 grams per tonne gold in another. All samples were chip samples of varying widths between 0.3 and 1.5 metres. The true widths of the zones are unknown at this stage.

New Destiny will continue to examine other known historic prospects in the area, including the Railroad and Jim Kelly Creek areas. Rock samples from 2019 trenches at the Railroad ranged up to 1.06 per cent copper and 264 grams per tonne silver in one sample, and 0.95 gram per tonne gold, 0.9 per cent zinc and 0.4 per cent lead in another sample. At Jim Kelly Creek, a grab sample from the Superior/John Bull prospect returned a result of 11.3 grams per tonne gold in 2018. Other known copper-gold prospects in the Jim Kelly Creek area include Spokane, Marsellaise and Gold Mountain.

The company's Treasure Mountain silver property covers 10,700 hectares of geologically prospective ground adjacent to Nicola Mining Inc.'s Treasure Mountain property (site of the historic Treasure Mountain silver-lead-zinc mine). The Treasure Mountain silver property hosts at least seven gold, silver, lead, zinc and/or copper B.C. MINFILE occurrences in various regions. These include gold-quartz vein, polymetallic veins and porphyry-type showings. Some of these mineral occurrences have associated historic underground workings. The property occurs within the Intermontane terrane, which hosts numerous porphyry copper deposits. For more information, refer to the company's 2017 technical report on the Treasure Mountain silver property.

Geochemical analyses were performed by ALS Laboratories in North Vancouver, B.C., which is an independent and accredited commercial laboratory. Analyses for gold were done by fire assay with AA (atomic absorption) finish on 50-gram subsamples. Analyses for copper and other elements were by four-acid digestion with ICP-MS (inductively coupled plasma mass spectrometry) finish. Overlimit results for silver were reanalyzed by HF-HNO3-HClO4 (hydrogen-fluoride-nitric-acid-perchloric-acid) digestion with HCl (hydrochloric acid) leach, with an ICP-AES (inductively coupled plasma atomic emission spectroscopy) or AAS (atomic absorption spectroscopy) finish. Overlimit results for copper were analyzed total copper by four-acid digestion and ICP or AAS finish. Field quality control samples were not included with the sample batch due to the limited number of samples.

Dr. Mathew Ball, PGeo, vice-president, exploration, for Ximen Mining and a qualified person as defined by National Instrument 43-101, approved the technical information contained in this news release.

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