- A strong mining firm with robust ties to the area
- Kenville metallurgical check work has been very promising
- Protected mining jurisdiction
What does:
() (OTCMKTS:XXMMF) is a junior valuable metals explorer with property in prolific gold camps in southern British Columbia (BC).
The corporate has an acquisition possibility on the previous Kenville gold mine, which produced 65,236 ounces of gold, and 27,686 ounces of silver intermittently between 1889 and 1956.
Ximen has been increasing its footprint within the space through a number of declare teams close to Kenville and final June reported that its whole land package deal within the Nelson-Ymir-Salmo space since first buying Kenville in early 2019 stood at 19,582 hectares.
Kenville was previously referred to as the Granite-Poorman mine and lies 7 kilometres (km) west of the city of Nelson within the West Kootenay area. Ximen needs to take advantage of the vein constructions to convey it again to life and set up a high-grade, 20-year, producing gold mine, whereas concurrently exploring the bounds of the reserve.
One other of Ximen’s key property is the Brett epithermal gold undertaking, which the corporate has managed 20,025 hectares of since 2013, and the place earlier drilling has thrown up 168 grams per ton (g/t) of gold over 1.3 metres (m) and the place seen gold is frequent.
In Might final yr, the group obtained approval for a floor drilling program to increase the identified bonanza grade zones and check for lower-grade targets that might be amenable to a bulk mining state of affairs.
Ximen needs to increase the present mine at Brett by as much as 200 metres and likewise goals to discover the Predominant Zone to the northwest the place important gold intercepts had been intersected in floor drill holes. An software for underground exploration continues to be below evaluation.
Ximen additionally owns the Treasure Mountain silver undertaking, which is adjoining to the past-producing mine. It’s at the moment optioned to New Future Mining Corp (CVE:NED) for staged money and inventory funds. Treasure Mountain boasts a number of mineralization varieties, together with polymetallic veins, gold-bearing quartz veins, and porphyry and porphyry-related mineralization.
Ximen’s portfolio additionally boasts the historic Cariboo-Amelia gold mine in Camp McKinney. The mine was British Columbia’s first dividend-paying lode gold mine and restoration included 81,602 ounces of gold, 32,439 ounces of silver, 113,302 kilos of lead and 198,140 kilos of zinc.
In 2019, Ximen offered its Gold Drop Property within the Greenwood Camp choice to GGX Gold Corp (). Ximen nonetheless holds onto a 2.5% web smelter return royalty (NSR) on the property which GGX can purchase down 1% of by paying C$1 million.
How is it doing:
Information from Ximen in latest months has been dominated by development work at its Kenville gold undertaking within the Nelson camp of British Columbia, the place it has been finishing a brand new entry to the historic mine.
On November 25, final yr, Ximen instructed traders a brand new portal had been established and a brand new railway line had been related to the tracks of the outdated underground mine. The concept is that the corporate can now entry mineralization outlined in a useful resource estimate of 2009.
The mine reportedly produced 65,236 ounces of gold and 27,686 ounces of silver between 1889 and 1956, whereas the earlier mine workings host an estimated 360,000 plus troy ounces of gold, based on an NI 43 101 report.
Elsewhere, in October, the group unveiled encouraging sampling outcomes from work earlier within the season on the Amelia property, dwelling to the historic Cariboo-Amelia gold mine, in southern British Columbia, which generated important gold and silver assays.
Of 34 rock chip samples, ten returned important gold outcomes, and three important silver outcomes. Highlights included 103.5 g/t gold and 122 g/t silver in a single pattern. One other confirmed 32.10 g/t gold and 98 g/t silver. One pattern from a historic dump on the Fontenoy declare assayed a powerful 1,465 g/t silver,
Comply with-up exploration drilling is deliberate to check beneath the Cariboo-Amelia mine and trenching and drilling is deliberate to discover the east and western extensions, Ximen stated.
The identical month noticed Ximen replace on its exploration on the Windfall undertaking in British Columbia, the place two rock samples have returned “important outcomes” and observe up investigation is deliberate. A drill program on the Windfall undertaking is underway with 755 metres drilled up to now in 4 holes.
The corporate stated 16 rock chip seize samples and 20 soil samples had been obtained from fieldwork which was accomplished at first of the season.
One seize pattern from a historic dump on the Windfall mine returned values of 884 g/t silver and 1.36 g/t gold. One other assay from the historic Freemont mine dump returned values of 435 g/t silver and 4.4 grams per tonne gold, with 0.22% lead.
Inflection factors:
- Extra exploration outcomes from the portfolio
- Kenville mine progress
- Valuable metals worth strikes
What the boss says:
Final summer season, Ximen CEO Chris Anderson spoke to Proactive following information that it had elevated its floor within the well-known Greenwood mining camp in British Columbia (BC) and outlined the group’s present priorities.
“The primary focus for us although is clearly the Kenville. We need to get that up and working and we would prefer to have that as a producing gold mine, in order that’s our goal – is to deal with that – and within the meantime we’re simply constructing our land base round whereas the alternatives are there as a result of we consider we’re transferring into a particularly sizzling gold market.”
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