Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) (FRA:1XMA) said it has acquired a 2.5% net smelter royalty (NSR) on 51 claims in the Greenwood mining Camp in British Columbia, further expanding the firm's footprint in the area.
The royalty covers 15,116 hectares, known as the Sidley gold-Dayton copper properties, which are owned by Grizzly Discoveries Inc (CVE:GZD).
Included in the acquisition from a private group, for which Ximen paid 800,000 shares, were 5 further mineral claims covering 3,873 hectares. Ximen now owns and operates 19,000 hectares in the famous Greenwood mining camp.
READ: Ximen Mining completes an airborne geophysical survey of its Providence and Bud-Elk properties in British Columbia
Greenwood has a long and illustrious history, having produced 1.4 million ounces of gold, 10 million ounces of silver and 0.7 billion pounds of copper.
Last month, Ximen said it has completed its airborne geophysical survey of the Providence and Bud-Elk properties - also part of the Greenwood camp.
The survey results, which are expected to outline conductive bodies related to massive sulphide occurrences, should be delivered within weeks and will be used to guide Ximen’s 2021 exploration programs, it said.
Ximen noted that its Providence property covers several mineral occurrences and historic mines including the Freemont mine, where 2020 sampling returned values of 435 grams per tonne (g/t) silver and 4.4 g/t gold. The property also contains massive sulphide mineralization that previously assayed 0.23% copper and 3.4 g/t silver.
The company's assets in British Columbia include the Amelia gold mine and the Brett epithermal gold project. Its Treasure Mountain silver project is under an option agreement. Ximen also controls the Kenville Gold mine near Nelson, British Columbia which comes with surface and underground rights, buildings and equipment.
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