Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) hailed a drilling update from GGX Gold Corp (CVE:GGX) (OTCQB:GGXXF) on the Gold Drop property in southern British Columbia.
The firm's gold project is currently under an option agreement to GGX Gold and the partner announced drill core analytical results from diamond drill holes completed in November 2018.
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"It's very encouraging to see such promising results after all the hard work and effort from all the parties involved," said Chris Anderson, Ximen CEO.
"I would like to extend a special thanks to my longtime friend Al Beaton, who led us here in the first place and who's enthusiasm and passion for the mining business is absolutely contagious to all of us."
GGX has been focused on the COD vein system, which has been traced by drilling and/or trenching for around 400-metre strike length and is open to the northeast, at depth and possibly to the southwest.
The mineralized COD vein system, which GGX has been focused on at the property, has been traced by drilling and/or trenching for around 400-metre strike length and is open to the northeast, at depth and possibly to the southwest.
One hole hit near-surface high-grade gold and silver with significant tellurium.
Assays in this hole were 129 grams per tonne (g/t) gold and 1,154 g/t (grams per ton) silver over 7.28 metres (m).
Another hole threw up 6.97 g/t gold and 46.8 g/t silver and 34.4 g/t telerium over 0.94m.
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The program last November consisted of 11 diamond holes and tested the southwest region of the COD vein in an area of high-grade gold and silver mineralization.
The COD vein is located in the Gold Drop Southwest zone. Previous 2018 drill holes in this part of the COD vein hit near-surface high-grade gold and silver mineralization.
Highlights included 50.1 g/t gold and 375 g/t silver over 2.05 metres (including 167.5 g/t gold, 1,370 g/t silver and greater than 500 g/t tellurium over 0.46 metres.
"With each additional drill program, we are significantly improving the gold grade mineralization of the COD vein," Barry Brown, the president of GGX Gold had said.
"We continue to expand the known strike length of the mineralized vein system, which remains open in several directions.
"With another new near-surface high-grade gold zone and increasing strike length, we are very satisfied with the results generated and optimistic on the gold potential of the Gold Drop project," he added.
Shares in Ximen in Toronto are down 2.35% to $0.415.