Vancouver, British Columbia–(Newsfile Corp. – July 7, 2021) – Ximen Mining (TSXV: XIM) (OTCQB: XXMMF) (FSE: 1XMA) continues to add to its extensive portfolio of precious metals properties in British Columbia. In its latest acquisition, the company acquired 100% of several mineral claims in the Wild Horse Creek area, located 15 kilometers northeast of Cranbrook, in the Fort Steele Mining Division in southeastern British Columbia.
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The Wild Horse Creek property, which consists of two separate packages totalling 12,767 hectares, is located near Fort Steele and borders Ximen’s 453-hectare Hughes Range claims. The land package is covered by two separate purchase agreements under which Ximen is required to issue 3,455,000 shares, split among several venders, which have all entered into voting trust agreements.
In the first purchase agreement, Ximen acquired a 100% interest in a total of 43 mineral claims covering 3,221 hectares, subject to a 1.0% NSR. Ximen paid 1,355,000 shares to 6 individuals. In the second purchase agreement, Ximen acquired a 100% interest in a total of 96 claims covering 9,546 hectares, subject to a 1.0% NSR with a $1,000,000 buy out. Ximen paid 2,100,000 shares to 4 individuals and 2 private corporations. This land package came with current exploration permits approved for drilling along with a transfer to Ximen of a total of $189,607 in Portable Assessment Credits.
The Wild Horse Creek property lies within the Kimberley Gold Trend, a zone that extends southwestward from the Rocky Mountains into the western part of the Purcell Mountains. In 1864 gold was discovered in Wild Horse Creek and the 720 km long trail known as the Dewdney Trail was started to connect Hope with the gold mining community known as Fisherville on Wild Horse Creek. More than 10 million ounces of gold is estimated to have been recovered from the gold bearing streams in the East Kootenay area and the locations of more than 50 gold showings have been recorded. Placer gold operations continue to this day on several gold bearing streams around Cranbrook.
The Wild Horse Creek claims cover several bedrock precious metal occurrences and potential source areas for the famous placer gold deposits. Several polymetallic silver-gold-lead-zinc and gold-quartz vein prospects occur on the claims. One of the most interesting prospects is the Lone 4 claim, where a 2016 diamond drill hole intersected elevated gold values in strongly hydrothermally altered rocks. The alteration intensity increases towards the bottom of the hole and the lower portion of the hole cored an auriferous breccia zone with gold values up to 3.26 grams per tonne gold over 1.0 meters, suggesting that a source of the rich surficial gold placer deposits could be located on this claim. Management cautions that this historical information requires further work and should not be relied upon.
Ximen owns 100% of three of its precious metal projects located in southern BC, the Amelia Gold Mine and The Brett Epithermal Gold Project, and the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under a option with the option partner making annual staged cash and stocks payments as well as funding the project. The company has also acquired control of the Kenville Gold mine near Nelson, BC, which comes with surface and underground rights, buildings and equipment.
For more information, please visit the company’s website, www.XimenMiningCorp.com, contact Christopher Anderson, President and CEO, at 604-488-3900. For Investor Relations, contact Sophy Cesar, at 604-488-3900 or by email at [email protected].
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