The firm is aiming to bring the underground mine in Nelson, British Columbia, back to life. The site reportedly produced 65,236 ounces of gold and 27,686 ounces of silver between 1889 and 1956.
Key to this is refurbishing the existing portal at the 257 level of the mine, and as reported in May, Ximen is adding a new steel culvert.
"Ximen is rebuilding this portal with a steel culvert that will protect and secure the mine drainage. The construction is expected to be completed next month," the group said in a statement.
The portal will give access to the Kenville mine 257 Level, which will be used later when it is connected to the new decline by a raise, the firm added.
Notably, a 2009 resource estimate for the 257 level pegged measured and indicated resources at 24,624 tonnes grading 20.58 grams per tonne (g/t), giving 16,289 ounces gold, for material within 5 metres (measured) and 25 metres (indicated).
Material extending between 25 and 50 metres from the workings were categorized as inferred resources and estimated at 101,992 tonnes grading 28.1 grams per tonne, giving 92,143 ounces of the precious metal.
Moreover, Ximen revealed that projected extensions of the known veins on and above the 257 level resulted in additional inferred resources estimated at 420,329 tonnes grading 21.77 grams per tonne, for an additional 264,806 ounces of gold.
"These historic resources were defined prior to drilling campaigns that intersected multiple gold-bearing veins at depth to the west and south of the historic mine that are being targeted by the new decline development," the firm noted.
The new decline will be started after the work at 257 portal is completed and permitting for this development is well advanced, said Ximen, adding it expected to receive the permit within months.
Ximen also noted in Friday's statement, that it has 'quietly' acquired over the past few months a package of claims around the Kenville mine for a total holding in the Nelson and Salmo Areas area of around 18,889 hectares.
"These properties cover several historic gold mines and prospects for which Ximen will explore for new gold-vein and bulk-mineable gold deposits," it said.
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