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Ximen Mining launches new 20,000 metre drill program at historic British Columbia gold mine

The Kenville gold mine near Nelson, British Columbia produced over 2,000 kilograms of gold and 861 kilograms of silver during nearly 60 years of production

kenville mine
The Kenville gold mine was in production between 1888 and 1954

Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) announced Tuesday that it is kickstarting a new drilling program at the historic Kenville gold mine in British Columbia.

The junior explorer based in Vancouver said it will complete 20,000 metres of diamond drilling and 1,200 metres of underground development after activating an existing permit.

Ximen's share price nearly 5% on Tuesday morning in Toronto at C$0.64 and traded at US$0.48 on OTC markets.

READ: Ximen Mining advances plan to option former British Columbia gold producer

Kenville is the first recorded underground mine in British Columbia, beginning production in the 1890s and mined into the 1950s, according to Ximen. Historical production records show around 65,000 ounces of gold produced over the 60-year period.

More recently, exploration work at the property between 2007 and 2012 revealed several high-priority drill targets and multiple new veins identified. Current drilling will focus on the newly discovered targets.

In a note to shareholders, Ximen said that there are numerous additional drill intercepts that are greater than 5 grams per ton.

According to Ximen’s underground mine plan, the first step is to drive a new, 524-metre underground decline to access the centre of a series of vein intercepts from surface drilling conducted between 2009 to 2012.

Underground drilling will follow to outline potentially mineable material on the property, with around 4,500 metres of underground drilling expected to outline enough material for a 10,000-ton bulk sample.

The project is expected to take six months, Ximen said in a statement.

Ximen announced its purchase of Kenville in April with the intention of defining targets on the property for possible trial mining.

--Updates share price--

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 0.32 CAD

TSX-V:XIM
Market: TSX-V
Market Cap: $15.08 m
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Ximen Mining preparing for summer drill program at Kenville Gold Mine in...

Ximen Mining (CVE:XIM) President and CEO Chris Anderson sat down with Steve Darling from Proactive Investors Vancouver to share news the company is embarking on their summer drilling program at the historic Kenville Gold Mine. Anderson talked about how much they plan on drilling and the...

on 4/7/19

2 min read