Ximen Mining Corp (TSX-V:XIM, OTCQB:XXMMF) told investors that a draft permit from British Columbia’s Ministry of Energy, Mines and Low-Carbon Innovation for its Kenville Gold Mine is now complete and is expected any day, while a draft permit from the Ministry of Environment has also been prepared.
In an update on the current status of its Kenville mine in British Columbia’s West Kootenay region, Ximen said the Mines department is finalizing specifics related to the permit area and the amount of the reclamation bond to be required.
It expects that the area will be directly related to its 100-year-old owned Crown Grants that cover both surface and underground rights, as well as additional rights related to these Crown Grants.
"We understand it's been a long wait and the last couple of years have been challenging for all,” the company said in a statement. “We appreciate your continued support and patience and want to assure everyone that all departments, Mines, Environment and the Ximen team have been working diligently to finalize this process in the best interest of all parties concerned."
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Ximen said the draft permit from Environment has been prepared with all conditions and inter-department reviews completed and recommendations to address the company's activities and is also expected to be forwarded to the company soon.
It noted that the permits from Mines and Environment will come with conditions. There will be a brief review period and if acceptable Ximen will sign off in agreement and the Final Permit to commence work will be issued.
The company said it has continuously engaged with the community and provided tours and site visits to all interested parties.
“This has been a cumbersome process, but it is our objective to preserve this site as it has been for the last 100 years and create many impactful, meaningful and well-paying jobs for the region, as well as maintain a small environmental footprint, aiming to be one of the greenest gold producers in BC and a leader in our industry,” Ximen said.
Ximen said power to the Kenville site is hooked up and tied into the energy from the Kootenay Dam. All drilling will be contained in the underground development using pneumatic drills. The compressors and lines are all installed, powered up and ready to be deployed, the company added.
Custodians of the environment
"We are all part of a diverse natural community here in the Kootenays and its important that we all do the best we can as custodians to preserve the beauty and nature that is in our trust while providing opportunities for our families and the community as a whole,” Ximen president and CEO Christopher Anderson said.
The company also announced that it has granted 1,000,000 Restricted Share Units (RSUs) to its directors, officers, employees and consultants. The RSUs are payable in common shares of the company, are not transferable, and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.
Ximen Mining owns 100% interest in three of its precious metal projects in southern BC. The two gold projects are the Amelia gold mine and the Brett epithermal gold project. It also owns the Treasure Mountain silver project, which is adjacent to the past-producing Huldra Silver mine.
Currently, Ximen's Treasure Mountain silver project is under an option agreement. The option partner is making annual staged cash and stock payments as well as funding the development of the project.
Contact the author at stephen.gunnion@proactiveinvestors.com