Ximen Mining (TSXV:XIM) Reports Results from Seventh Drill Hole at Amelia Gold Project in BC and Hits Mineralization

Drilling at Amelia project in October 2023. Source: Ximen Mining

Ximen Mining Corp. (TSXV:XIM) has released preliminary data from its seventh drill hole at the Amelia Gold project in Camp McKinney near Rock Creek, southern British Columbia. This drilling effort is part of the company’s initiative to explore extensions to the historic Cariboo-Amelia gold mine in the Greenwood Mining Division, BC.

The Cariboo-Amelia mine, recognized as BC’s first dividend-paying gold mine, has a notable production history. Over 68 years, it yielded 81,602 ounces of gold and 32,439 ounces of silver from 112,254 tonnes of ore, according to BC Minfile Records. The mine is located within a 4-kilometer network of gold-quartz veins and historical mining operations.

In 2023, Ximen Mining’s drilling focused on the McKinney vein below the eastern end of the historic mine. To date, seven drill holes have been completed, totaling 1,846 meters of NQ sized core drilling. The target vein was intersected in four of these holes (AM23-01, 03, 05, and 07) at depths of 30 to 45 meters below the mine’s lowest level and over a strike length of 150 meters.

The mineralized sections found in these cores range from 0.26 to 0.70 meters in length. They contain a mix of pyrite, sphalerite, galena, and chalcopyrite. Although no visible gold has been identified, the sulphide mineral assemblage mirrors that historically mined from the vein. The cores are set to be analyzed following geological logging and sampling.

View of 3D model of Cariboo mine (looking North) showing vein blocks and current drill holes. Source: Ximen Mining

Additionally, holes AM23-03, 04, and 05 revealed a second mineralized vein approximately 50 meters south of the main vein, also containing pathfinder minerals. The full extent of this vein is yet to be established.

Other drilling efforts, specifically in holes AM23-02, 04, and 06, aimed at deeper zones, did not intersect the vein. It is suspected that faults similar to those in the upper mine levels, where the vein is slightly displaced to the south, may have affected these areas.

The results suggest the possibility of additional mineable material below the lowest level of the historic mine and in parallel zones.

Ximen Mining Corp. wholly owns three precious metal projects in southern BC, including the Amelia Gold Mine, the Brett Epithermal Gold Project, and the Treasure Mountain Silver Project, which is adjacent to the previously operational Huldra Silver Mine. The Treasure Mountain Silver Project is currently under an option agreement, with the partner responsible for annual payments and project development. Ximen also controls the Kenville Gold mine near Nelson, BC, which includes surface and underground rights, buildings, and equipment.

Source: Ximen Mining

Highlights from the results are as follows:

Hole From To Length (m) Mineralization
AM23-01 218.02 218.63 0.61 Quartz Vein with Py, Sp, Gn, Cp
AM23-03 230.80 231.06 0.26 Quartz Vein with Py, Sp, Gn, Cp
AM23-05 214.55 215.25 0.70 Quartz Vein with Py, Sp, Cp
AM23-07 194.60 194.81 0.21 Quartz Vein with Py, Sp, Gn
AM23-07 195.71 195.99 0.28 Quartz Vein with Py, Po, Sp, Gn
AM23-07 215.47 215.66 0.19 Quartz Vein with Py, Sp, Gn
AM23-07 217.64 217.76 0.32 Quartz Vein with Py, Po, Sp, Gn

Abbreviations: Py: pyrite, Sp: sphalerite, Gn: galena, Cp: chalcopyrite
Note: Reported lengths are core lengths not true widths.

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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