InvestmentPitch Media Video Discusses Ximen Mining's Non-Brokered Private Placement and its Brett Epithermal Gold Project in southern British Columbia - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 2, 2019) - Ximen Mining (TSXV: XIM) (OTCQB: XXMMF) (FSE: 1XMA) has announced a non-brokered private placement. The company plans to raise gross proceeds of up to $250,000 from the sale of up to 1 million units priced at $0.25 per unit, with each unit consisting of one share and one warrant, with the warrant exercisable at $0.30 for 24 months.
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The company recently raised gross proceeds of $540,000 from the sale of 1.8 million flow-through shares priced at $0.30. The proceeds will be used for exploration expenses.
The company owns a 100% interest in 3 precious metal projects located in southern British Columbia, Canada and is focusing on its Brett Epithermal Gold Project, having optioned both its Gold Drop Gold Project and its Treasure Mountain Silver Project, which is located adjacent to the past-producing Huldra Silver Mine. The 20,000 hectare Brett Gold Project is located about 30 kilometres west of Vernon and 70 kilometres southeast of Kamloops.
Previous work from the early 1980's through to 2004 included more than 15,000 meters of diamond drilling and 459 meters of underground development.
Exploration work by Ximen in 2014 included ground magnetics/VLF-EM, soil geochemistry, biogeochemistry, rock sampling, geological mapping, induced polarization and 13 drill holes totaling 2,977 meters. Two new high-grade gold-bearing zones were identified, with results including 34.18 grams per tonne gold over 0.9 meters from one zone and 16.7 grams per tonne gold over 1.5 meters from the second. Significant intervals of bulk tonnage gold mineralization were also intercepted, including 1.77 grams per tonne gold over 31 meters, 1.88 grams per tonne over 16.55 meters and 0.82 grams per tonne gold over 33 meters.
In 2016, Ximen drilled 16 drill holes totaling 2,364 meters on specific targets which resulted from geological interpretation conducted on cross-sections. Some core samples from the drilling program revealed high gold intersections.
Drill hole 16-1 intercepted an interval with 18.95 grams per tonne gold over 1 meter, drill hole 16-2 intercepted an interval with 3.13 grams per tonne gold over 1.1 meters, drill hole 16-11 intercepted 13.35 grams per tonne gold over 0.58 meters and drill hole 16-17 intercepted 5.7 grams per tonne gold over 0.5 meters. The company plans carry out drifting and underground drilling in the spring of 2019.
For more information, please visit the company's website, www.ximenminingcorp.com, contact Christopher R. Anderson, President and CEO, at 604-488-3900 or email office@ximenminingcorp.com.
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