VANCOUVER, B.C., Dec. 18, 2013 (GLOBE NEWSWIRE) -- Ximen Mining Corp. (TSX-V:XIM) (the "Company" or "Ximen") is pleased to announce that it received TSX-V approval to acquire a 100% interest in the Brett Gold Project situated in the North Okanagan region of Southwest British Columbia approximately 29 kilometers West of Vernon.
In 1996 a small (291 tonne) bulk sample, from the RW vein and Main Shear Zone, was shipped to Trail and returned an average grade 27.74 gms Au/tonne and 63.7 gms Ag/tonne. Work was stopped in late 1996 and the property was tied up in litigation for several years.
Highlights of a 43-101 report from the property dated April 2004 are summarized below:
- The property has seen high grade gold production from bulk sampling.
- No work has been conducted on the property in the last 10 years.
- 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.
- Property hosts epithermal style gold mineralization containing coarse gold and has excellent potential of hosting an economically viable gold deposit.
- Excellent infrastructure and access along well maintained paved and gravel roads.
- Drill permit in place for 18 drill pads and 32 drill holes as well trenching permits.
A summary of the top 40 drill and trench intersections with grades greater than 0.20 oz Au (6.8 gms Au/tonne) with a minimum width of 3 feet is included here: http://orders.newsfilecorp.com/files/3028/8063_enlargedx3x1.jpg.
To date, the Main Shear Zone has been traced for a strike length of over 1300 meters and down dip to a depth of 150 meters (possibly as deep as 500 meters, based on a single hole drilled on the neighboring property) and is wide open in all directions. Based on the review of all available data, combined with information gained from a property inspection, the Brett property hosts epithermal style gold mineralization containing coarse gold and has excellent potential of hosting an economically viable gold deposit.
The land package that has been assembled is over 2,700 hectares and is located in close proximity to several mills, in particular, Kinross' Kettle River Operations mill which is currently operating at about half capacity and looking for additional feed.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
XIMEN MINING CORP.
Per: "On behalf of the board"
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.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
(To view an image of Brett property's previous drill and trench results, please visit: http://orders.newsfilecorp.com/files/3028/8063_enlargedx3x1.jpg)
