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Ximen Mining kicks off drilling and trenching at past-producing Providence silver gold mine in BC

An excavator is being used at the first target - a historic mine adit - where Ximen previously found 3.87 g/t gold and 100 g/t silver from vein material sampled from the waste dumps

Ximen Mining Corp -
The second target is an area which hosts a showing of massive sulphide vein or skarn mineralization where a previous grab sample assayed 0.23% copper and 3.4 g/t silver

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) revealed it had started exploration drilling and trenching aiming at two targets at its Providence project near Greenwood in British Columbia.

An excavator is being used at the first target - a historic mine adit -  where Ximen previously found 3.87 grams per ton (g/t) gold and 100 g/t silver from vein material sampled from the waste dumps.

READ: Ximen Mining nears completion of new portal at historic Kenville gold mine

The firm believes this could be strike continuation from the main historic Providence mine. The second target is an area which hosts a showing of massive sulphide vein or skarn mineralization where a previous grab sample assayed 0.23% copper and 3.4 g/t silver. There is also a historic shaft on this zone.

"Ximen Mining has amassed a significant amount of precious metals properties in southern BC and has now positioned itself to be among one of the largest landholders of premium Precious metals exploration properties in southern BC," CEO Christopher Anderson told investors on Tuesday.

"Ximen also owns all of these assets 100% and is not beholden to any property payments. Ximen has also obtained 100% ownership of surface rights and land holdings in key areas strategic to the advancement of our operations."

Anderson also noted that while the group continues to focus on advancing the Kenville gold mine towards production, it was important that the firm also addresses the "blue sky potential of the prolific precious metals assets we have assembled in the company".

"Hence we have been busy on several fronts and now will commence drilling on several projects the Providence being one of the first."

Records indicate that 1,368,075 ounces of silver, 5,896 ounces of gold, 402,690 pounds lead and 260,086 pounds of zinc were recovered from the Providence mine, said Ximen.

Elsewhere at its ground in Greenwood, Ximen has carried out prospecting and rock chip sampling at the Bud-Elk and Amelia properties, it said.

At Bud-Elk, altered rocks containing up to 5% disseminated pyrite and chalcopyrite were sampled to verify results reported by previous operators. Pending favourable results, drilling will be planned for next season, said Ximen.

Elsewhere, at Amelia, fieldwork has included visiting sites of historic underground workings and grab sampling dumps or scattered quartz vein material at reclaimed sites, the firm noted.

Shares in Toronto nudged up 2.4% to C$0.43 each.

Contact the author at [email protected]

Quick facts: Ximen Mining Corp

Price: 0.315 CAD

TSX-V:XIM
Market: TSX-V
Market Cap: $22.3 m
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