logo-loader
viewXimen Mining Corp

Ximen Mining says partner GGX's last hole at COD vein at Gold Drop showed elevated gold

The work included the last hole drilled on the COD vein, which was designed to test the vein at depth below other holes last year

Ximen Mining Corp -
The last hole at the COD vein encountered two quartz veined zones containing elevated gold contents, reported Ximen

Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) has updated on last year's exploration at the Gold Drop property in British Columbia carried out by option partner GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXF), which included drilling and surface prospecting. 

Among the work was the last hole drilled on the COD vein, which was designed to test the vein at depth below other holes drilled in 2019. 

The hole encountered two quartz veined zones containing elevated gold contents. Assays included 3.33 grams per tonne (g/t) of the yellow metal from an intersection of 0.44 metres (m) from a depth of 128.62 m, Ximen reported.

READ: Ximen Mining says drilling at Treasure Mountain showed elevated copper and molybdenum

Another deep drill hole was sunk by GGX in a bid to test a large geophysical anomaly at the property.

The hole showed elevated copper, zinc and iron between 90.31 m and 718.7 m.

Copper values averaged 249 parts per million (ppm) copper in 38 of 62 samples of drill core that contained 100 ppm or greater copper, Ximen reported.

This deep hole showed skarn-type mineralization formed by iron-rich fluids that also carried copper and zinc. Notably, such skarn-type copper-gold deposits were the main source of metals previously produced in the Greenwood camp.

For example, the Phoenix deposit (Golden Dawn Minerals) produced 28,341 kg of gold, 183,036 kg of silver and 235,693 tonnes of copper and the Motherlode produced 6,648 kg gold, 22,083 kg silver, and 34,918 tonnes copper, the group noted.

GGX believed the deep hole passed through a skarn-type magnetite zone, possibly on the periphery of a larger skarn deposit, said Ximen.

Meanwhile, surface prospecting sampling was carried out at the end of the 2019 season to assess targets for trenching and drilling this year.

One sample assayed 55.8 g/t gold, 379 g/t silver and 270 ppm tellurium, the firm said.

Prolific mining camp

Greenwood is one of the most prolific gold-copper camps in North America and the high grade, near surface, Gold Drop property was mined intermittently from 1919 to the 1980s.

Historical production amounted to 7,572 tonnes at an average grade of 5.2 g/t of gold and 93.4 g/t of silver, with the majority of production coming before 1942.

The wider Greenwood district was once home to 26 mines, which produced more than 1.2 million ounces of gold and over 270,000 tonnes of copper, as well as silver, lead and zinc.

Contact the author at [email protected]

Quick facts: Ximen Mining Corp

Price: 0.45 CAD

TSX-V:XIM
Market: TSX-V
Market Cap: $21.85 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ximen Mining Corp named herein, including the promotion by the Company of Ximen Mining Corp in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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