Ximen Mining Corp (CVE:XIM) (FRA:1XMA) (OTCQB:XXMMF) said it acquired the Running Wolf gold property, 20 kilometers west of Cranbrook in the Fort Steele Mining Division in southern British Columbia.
The company said the property covers ten mineral claims covering 860 hectares. Under the purchase agreement, it will pay a total of C$30,000, split among the vendors and issue 200,000 shares, also to be split among the vendors. The Running Wolf property adjoins Ximen's Quartz Mountain property of 58 claims covering 2,361 hectares, which was acquired in 2020.
READ: Ximen Mining picks up more claims, including two historic mines, near the Kenville gold project
The company said the Running Wolf claims also cover three known mineral occurrences, including Rome & Valley, Running Wolf and Gold, adding that historic records indicate that at Rome & Valley, two or more large quartz veins occur in a fault zone and contain pyrite and galena. One vein has been traced 470 meters (m) and varies in width from 0.6 to 7.6m and samples of mineralized vein material are reported to have assayed from 1.08 to 19.55 grams per tonne (g/t) gold.
Meanwhile, Ximen said historic workings at the property consist of five adits, the main one of which exposes three veins, each about 10m wide. Surface grab samples of the vein are reported to assay up to 35.0 g/t gold while DDH 1985-8 intersected the No.1 vein in a sheared quartzite and assayed 2.0 g/t gold over 2.0m. At the Gold prospect, an alteration zone in quartz phyllite is reported to have assayed 0.24 g/t gold over 3.5m.
The company said the Running Wolf is a “significant addition” to its holdings in the Cranbrook gold belt, a zone that extends south-westward from the Northern Hughes Range, crossing the Rocky Mountain trench, into the western part of the Purcell Mountains, adding that future work will focus on expanding the areas of known gold mineralization and related fault/shear structures, and exploration for additional lode or disseminated gold deposits.
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