VANCOUVER, British Columbia, June 3, 2014 (GLOBE NEWSWIRE) -- Ximen Mining Corp. (the "Company" or "Ximen") (TSX-V:XIM) (OTCQX:XXMMF) is pleased to announce that the field crew under the guidance of Linda Carron MSc, PEng, have made several new discoveries on the property and the company is currently awaiting assays. Since early May crews have been working in preparation of the upcoming drill program included are some of the companies activities underway.
One new discovery is a new quartz vein discovered in outcrop, 60 metres east of the RW vein bulk sample pit. Well-developed pseudomorphs of cm-scale bladed calcite replaced by quartz, indicative of boiling level in the epithermal system, are present in the vein. Hand trenching by Ximen has exposed this vein for a 5 metre strike length. The vein is flat-lying and has a minimum true thickness of 0.4 metres. The hangingwall contact has not yet been exposed. To date, 3 grab samples have been collected from this vein with results to 513 ppb Au. Additional hand trenching is planned to more fully expose the vein for detailed representative sampling and to determine its true thickness. Because of the vein geometry, this vein is untested by any of the previous drilling on the property.
Regarding the discovery of this new low-angle quartz vein with pseudomorphic quartz after bladed calcite, 20 meters above the pit on the Brett Main Shear Zone, Dr. Michael Rasmussen said, "Even if assays from this specific location are not economically significant, this evidence of hydrothermal boiling so close to the high-grade showings of the Main Shear Zone is a good indication that the vein system at Brett is of greater size and more varied geometry than previously known, and that higher gold grades are likely to be found at depth."
As well one hundred metres on-strike to the east of this new vein discovery, abundant epithermal quartz and quartz-stockwork float boulders were located, which may represent the on-strike continuation of this vein. A quartz float boulder in this area sampled by Huntington Resources in 1986 returned 1.58 oz/t Au. Since then, the area has been logged and many more quartz float boulders are now visible. Individual quartz boulders range to 0.75 x 1 m in size. Ximen has collected several samples from these quartz boulders, in an attempt to confirm the historic high gold values. The best results returned to date were 4.28 g/t Au. Additional results from this area are pending.
Another new discovery was made, 1 km northeast of the Main Shear/RW zone. A zone of intense silicification and quartz veining was discovered in float and subsequently traced to outcrop by hand trenching. Its dimensions remain unknown. The silicified zone is peripheral to a zone of phyllic and intense argillic alteration and is untested by any previous work. Sample results are pending.
Additional Hand trenching has exposed the Main Shear zone near the confluence with the RW vein, at the south end of the previous RW vein bulk sample pit. A 291 tonne surface bulk sample from the RW vein collected in 1995 averaged 0.81 oz/t Au (27.7 g/t Au). Where exposed by Ximen's hand trenching, the Main Shear is a strong gouge zone that measures 6 metres in true width and contains abundant angular quartz vein fragments. Systematic continuous channel samples were collected across the shear zone to verify historically reported results.
Ximen's sampling from the shear at this location, did reveal strongly elevated gold in highly altered siliceous rocks in the footwall to the shear (2.6 g/t Au over 4 m, including 1.5 m grading 4.7 g/t Au). Three hundred metres on-strike to the southeast, the Main Shear was also exposed by hand trenching. Here the shear consists of two sub-parallel gouge zones, respectively 0.9 and 1.5 metres in true width, which are separated by a 25 metre zone of feldspar porphyry dyke plus altered volcanics. Representative channel samples have also been collected across the shear zone at this location and have been submitted for analysis. Results are pending. Additional hand trenching is planned in several other areas, to expose the Main Shear and the RW vein for systematic representative sampling.
Ximen has begun the process of refurbishing the core yard on the property, cataloguing historic drill core, examining specific intercepts and relogging select drill holes. Several intervals of interest have been identified in the historic core, which remain unsplit and unsampled. These intervals will be sampled as part of Ximen's work in the coming weeks. The company has also been working to brush out historic roads on the property, restore road access to all of the known areas of mineralization and confirm historic drill holes collar locations. Representative samples have also been taken to establish the average grade of the development muck stockpile near the historic adit on the property. Approximately 800-1000 tonnes of material is present in this stockpile.
Analytical work for Ximen's 2014 work program is being completed by Actlabs, at their accredited Kamloops-based facility (ISO 9001:2008 accredited, ISO 17025 – pending). Ximen's analytical protocol has been designed to mitigate potential nugget gold issues, to provide representative gold analyses, and to provide multi-element information which may help understand zoning within the system. Large samples are collected in the field (2 - 7 kg). At the laboratory, the entire sample is finely crushed (90% passing 2 mm screen), then a 1 kg split of the crushed sample is pulverized to 95% passing 105 microns. All samples are tested for gold, using Fire Assay/AA finish on a 30 gm sample of pulverized material. All samples are also tested for a multi-element ICP/MS suite following aqua regia digestion, and for Hg using cold vapour FIMS. For all samples that return > 2 ppm Au or > 200 ppm Ag based on the FA/AA gold or ICP analyses, metallic gold assays are completed on 500 gm samples of pulverized material. To date, two batches of rock/trench samples have been submitted to Actlabs for analyses.
Patrick Forseille,PGeo, a qualified person as defined by NI 43-101, is responsible for the technical information contained in this release.
About Ximen Mining Corp.
Ximen Mining Corp. owns 100 percent interest in its two projects, Gold Drop Project and Brett Gold Project located in southern British Columbia. Recently the company has entered into a due diligence agreement with Huldra Silver Inc. for the purposes of determining the feasibility, terms and conditions of a proposal for the acquisition of Huldra Silver. Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, and is listed on the Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XM and WKN number is A1W2EG as well in the USA on the OTCQX under the symbol XXMMF.
On behalf of the Board of Directors,
"Christopher R. Anderson."
Christopher R. Anderson, President, CEO and Director, Ximen Mining Corp.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
To view the image please visit: http://orders.newsfilecorp.com/files/3028/10199_ximen.2.jpg
CONTACT: For further information, please contact Ward Kondas 604-488-3900 or by email at ward@ximenminingcorp.com
