VANCOUVER, B.C., June 18, 2014 (GLOBE NEWSWIRE) -- Ximen Mining Corp.'s (TSX-V:XIM) (OTCQX:XXMMF) 2014 exploration program on the Gold Drop project is underway. Consulting geologist, Brian Callaghan, is supervising the work program, under the direction of Linda Caron, M.Sc., P.Eng. Brian holds a Bachelor's Degree in geology and has worked as an independent consultant since the early 1980's for a variety of major and junior mining companies on programs in BC and elsewhere. He has considerable experience with gold exploration, in both porphyry and epithermal systems.
On the Gold Drop property, initial work is focusing on the Gold Drop-North Star vein system. The company's geological team has now traced the vein system in outcrop and in historic pits, trenches and underground workings expanding the original strike length of 150 meters to 300 metres and up to 2 meters in width . The vein remains open on-strike to both the north and south, under cover. A program of due-diligence rock sampling from underground and surface exposures of the Gold Drop-North Star vein system is continuing and results are pending. Excavator trenching has begun, plans are to expose the vein on surface for systematic mapping and representative sampling, with the goal of identifying sites for surface bulk sampling. Prospecting is ongoing elsewhere on the property, to define targets for subsequent trenching.
Highlights of the current 43-101 report on the Gold Drop include:
- The property has seen high grade gold production as recent as the 1980's
- The property covers geologically prospective ground in the well-mineralized Greenwood District, and hosts 8 or more known low-sulfide, gold-bearing veins or vein systems, including the North Star, Gold Drop, Amandy, Lakeview and Moonlight occurrences
- 100's of meters of underground workings on the property
- Close proximity to Kinross's state of the art Kettle River Operations (Buckhorn mine) mill. Since custom milling opportunities exist in the district, the Gold Drop property does not necessarily need to support a stand-alone mine/mill operation to be viable. Even a small or modest tonnage of high-grade ore could potentially be profitable to extract.
- Potential also exists on the claims for low-grade, bulk-tonnage gold mineralization related to broad fracture or stockwork zones.
- Excellent infrastructure, access and power is available
- Notice of Work permit application is submitted for surface and undersurface bulk sample
- Notice of Work permit application is also submitted for over 3,000 meters of drilling and trenching
Patrick Forseille, P. Geo., 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. 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, and trading on the OTCQX marketplace in the U.S. 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.
CONTACT: Ward Kondas 604-488-3900 ward@ximenminingcorp.com
