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Ximen Mining says new analysis of old Kenville gold mine samples has verified assays

Last year, It bought control of the Kenville mine, which comes with surface and underground rights, buildings and equipment

Ximen Mining Corp -
Kenville reportedly produced 65,236 oz gold from 158,842 tonnes processed, and 27,686 ounces of silver intermittently between 1889 and 1956

Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) has posted results from the analysis of drill core and samples by previous operators at the Kenville gold mine at Nelson in British Columbia. 

Last year, Ximen acquired control of the mine, which comes with surface and underground rights, buildings and equipment.

It reportedly produced 65,236 oz gold from 158,842 tonnes processed, and 27,686 ounces of silver intermittently between 1889 and 1956.

READ: Ximen Mining draws down a further C$150,000 from its equity financing facility with Alumina

"A total of 13 drill core samples were collected from selected intercepts obtained in the years 2007 to 2011 inclusive," the firm said on Wednesday in a statement, adding that the work was part of ongoing metallurgical studies.

The drill core assays between the historic results and new results showed a wide range of differences, Ximen noted, but added that was "typical of gold vein deposits".

It is likely due to a nugget effect caused by the presence of coarse gold grains in the mineralized material, it added.

The highest new 'check' assay was 191.13 grams per ton (g/t) gold over a length of 0.2 metres (m), compared to an original gold value of 113.08 g/t of the yellow metal.

Relatively high gold contents

For the composite samples, the results indicated relatively high gold contents, Ximen revealed.

"Compared to the average grade historically mined from the deposit (12.8 grams per tonne gold), the "Low Grade" composite assay is about 2 times higher and the "High Grade" composite assayed about four times higher," it told investors.

As well as Kenville, Ximen owns 100% interest in three of its precious metal projects located in southern BC.

The firm's two gold projects are the Amelia gold mine and the Brett Epithermal gold project. Ximen also owns the Treasure Mountain silver project, which lies adjacent to the past-producing Huldra Silver mine.

Shares in Toronto nudged up 2.44% to C$0.42 each.

Contact the author at [email protected]

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TSX-V:XIM
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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...

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