The Vancouver-based company updated investors on its plans to start building a decline at the historic Kenville mine in order to initiate a 10,000-ton bulk sampling program on the project.
Ximen is looking to drive a 466-metre decline to access a series of vein intercepts in holes drilled between 1995 and 2010.
The end of the decline will allow the company to drive a raise to connect with the historic workings of the gold mine, as well as ventilation and a secondary egress, or exit, once the mine is developed.
The company is also planning an underground drilling program of around 4,500 metres in the decline to follow up on historic drill intercepts on the Eagle veins, it said in a statement.
At the 500 metre mark of the decline, the company is anticipating to cross mineralized shoots from the historic mine, where a number of drill intersections indicate potential for a bulk sampling program.
The 4,500 metres of underground drilling should outline material for a bulk sampling program of 10,000 tons, Ximen said. The exploration company is planning to develop an area over a strike length of 300 by 150 metres for trial mining of a bulk sample.
If successful, Ximen may pour its first gold and silver alloy bar, known as a Dore bar, by the end of 2019, according to Christopher Anderson, Ximen’s CEO.
Shares of Ximen were 4.1% lower on Monday morning to sit at C$0.71 in Toronto.
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