Ximen Completes Final Excavation for Kenville 257 Portal and Moves Permit Ahead for New Decline
(PresseBox) - Ximen Mining Corp. (TSX.v: XIM) (FRA: 1XMA) (OTCQB: XXMMF) (the ?Company? or ?Ximen? - https://www.commodity-tv.com/ondemand/companies/profil/ximen-mining-corp/) is pleased to provide the following update on progress at the Kenville Gold Mine project in the Nelson mining camp in southern British Columbia.
Work on the 257 portal continued with excavation of overburden to expose the portal rock face. Timber and steel sets will be installed prior to placement of the new portal steel culvert.
Update on New Decline
The regulatory authorities reviewed Ximen?s updated permit documents for the new decline and have now requested the Company to initiate public notification under for the Environmental Management Act.
Final Report Received for Metallurgical Test
The Company recently received a final report on the metallurgical test work completed by Met-Solve Laboratories Inc of Langley, B.C.
Initially, three samples were combined to form a 51kg composite sample with a predicted gold grade of 17.16 g/t gold based on individual assays of the three samples.
A 10 kg sample was ground to a P80 of 147 ?m and then subjected to a single-stage Falcon gravity concentration test. The concentrate was panned and determined to recover 39.3% of the Au at a grade of 11,225 g/t Au. A silver recovery of 8.6% Ag at a grade of 4,577 g/t Ag was achieved. The results indicate that the material is amenable to gravity concentration, primarily for gold recovery, and that a high grade gold concentrate can be produced.
The combined gravity-flotation recoveries were 99.0% Au and 95.0% Ag respectively.
On a separate 2 kg subsample of the gravity tailings, the rougher flotation procedure was repeated for the purpose of generating a rougher concentrate for cleaner flotation testing. The objective of the cleaner flotation test is to improve the precious metal grades of the final flotation concentrate.
The combined recovery of the gravity-rougher flotation test was 98.9% Au and 87.8% Ag in 16.4% of the mass at concentrate grade of 83.6 g/t Au and 150.1 g/t Ag. The cleaning efficiency, gained by simply diluting the flotation pulp to between 11% and 14% solids, was respectable as minimal gold loss occurred between cleaning stages. Overall, the rougher concentrate was upgraded from 40.3 g/t Au and 132.9 g.t Ag to 86.5 g/t Au and 255.0 g/t Ag.
Acid-base accounting (ABA) analysis of the final tailings of the Rougher-Cleaner Flotation test showed a low Acid Producing AP value of 1.6.non-acid producing.
The metallurgical test results demonstrate that material from Ximen?s Kenville mine is amenable to gravity-flotation processing at a facility such as the nearby Greenwood mill of Golden Dawn Minerals Inc. The Acid-base accounting results indicate the final tailings will not be acid generating.
For the metallurgical work, gold and silver concentrations were determined by MSA Labs of Langley, B.C. by the Fire Assay method using a 30 gram fusion and either AAS or gravimetric finish, or by peroxide fusion using an ICP-ES finish.
Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.
About Ximen Mining Corp.
Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. annual staged cash and stocks payments as well as funding the development of the project. The company has recently acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.
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 1XMA and WKN with the number as A2JBKL.
This press release contains certain "forward-looking statements" within the meaning of Canadian securities This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company''s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management''s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company''s reports, publicly available through the Canadian Securities Administrators'' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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.
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.
Ximen Mining Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
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Datum: 21.08.2020 - 04:35 Uhr
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