Ximen Acquires Running Wolf Gold Property Cranbrook BC
(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 announce that it has acquired the Running Wolf gold property located 20 kilometers west of Cranbrook in the Fort Steele Mining Division in southern British Columbia.
The Running Wolf and Quartz Mountain properties lie within the Cranbrook Gold Belt (also known as the Kimberley Gold Trend), a zone that extends southwestward from the Northern Hughes Range, crossing the Rocky Mountain trench, into the western part of the Purcell Mountains. Alluvial gold placer mining is estimated to have recovered 10 million oz of gold from streams in the East Kootenay area centred on Quartz Mountain since discovery of gold in 1864, and mining has continued since. Exploration for lode gold sources to the alluvial placers has been ongoing for a century.
The Running Wolf claims cover three known mineral occurrences, including Rome & Valley, Running Wolf and Gold.& Valley, two or more large quartz veins occur in a fault zone and contain pyrite and galena. One vein has been traced 470 metres and varies in width from 0.6 to 7.6 metres. Samples of mineralized vein material are reported to have assayed from 1.08 to 19.55 grams per tonne gold. At the Running Wolf prospect, historic workings consist of five adits. The main adit exposes three veins, each about 10 metres wide. Surface grab samples of the vein are reported to assay up to 35.0 grams per tonne gold.
Ximen?s Quartz Mountain property covers important historical placer deposits on Sawmill creek and five mineral occurrences: Rice, Anderson, Birdie L., Peter Rock and Morgan. At Rice (also known as Quartz Mountain), quartz veins 0.75 to 1 metre wide are mineralized with pyrite, chalcopyrite and native gold.
At Anderson (also known as Golden Egg), quartz veins contain specular hematite, pyrite, galena, sphalerite, chalcopyrite and native gold.two rock samples from a newly exposed road cut, located south west of the pit, yielded 1.12 and 2.28 grams per tonne gold, respectively.
At Birdie Load and Peter Rock, quartz veins containing minor amounts of pyrite locally contain gold.
Ximen considers the Running Wolf acquisition as a significant addition to its holdings in the Cranbrook Gold Belt.
Ximen recently signed a purchase agreement to acquire 100% interest in 10 mineral claims covering 860 hectares in the Cranbrook Gold Belt, referred to as the Running Wolf property.
Readers are cautioned that historical information including the assay and production results referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
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: 03.02.2021 - 10:51 Uhr
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News-ID 1564374
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