Today, Ximen Mining Corp. announced the receipt of metallurgical test results for its Kenville Gold Mine Project near the city of Nelson in southern British Columbia, Canada. According to the press-release:
“The Kenville material responded exceptionally well to both gravity and flotation. The combined gold recovery is 99%... The test work started with a sample composited from the Kenville mineralization. Material was sorted on the basis of visible sulphide mineralization and separate lots were assayed. Portions of high-grade and low-grade material were then combined to give a weight average grade approaching the expected grade of material to be mined from Kenville 0.5 ounce per ton gold (17.1 grams per tonne) when the project proceeds to a Bulk Sample. The resultant composite assayed 16.27 grams per tonne gold and 35.60 grams per tonne silver (0.475 ounce per ton gold, 1.0 ounce per ton silver). The material was then subjected to gravity gold recovery and flotation testing aimed at approximating the process at the target processing plant.”
Sources: Mining.com (2017) / The stated gold recoveries are sourced from company reports (here, here, here, here, here) / Ximen’s gold recovery from initial metallurgical test results and the stated gold grade as per Ximen’s news as of May 22, 2020: “Portions of high-grade and low-grade material were then combined to give a weight average grade approaching the expected grade of material to be mined from Kenville 0.5 ounce per ton gold (17.1 grams per tonne) when the project proceeds to a Bulk Sample.” (Dr. Mathew Ball, P.Geo., VP Exploration for Ximen Mining Corp. and a Qualified Person as defined by NI 43-101, approved the technical information contained in this News Release.) Cautionary Statements: It is noted that the results of other gold mining projects (as presented in this table) are not necessarily indicative of the potential of Ximen’s Kenville Gold Mine Project and should not be understood or interpreted to mean that similar results will be obtained from the Kenville Project. Note that the mineralogical and metallurgical qualities and indications of other gold mining projects are not necessarily indicative of the qualities or potential of the Kenville Gold Mine Project, and that such disclosure should not be relied upon by investors. Moreover, Ximen may decide to advance its Kenville Project into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure. Please read the full disclosure, forward-looking statements and risks at the end of the PDF version of this report.
On March 20, 2020, Ximen provided an “update on recent property acquisitions and upcoming activities in the Nelson and Greenwood mining camps in southern British Columbia“, with Chris Anderson (CEO & President) commenting as follows: “Now that we have completed this part of our acquisition plan, we will move forward at Kenville as planned to start mining. As early as next week we’ll have boots on the ground, and the crew will begin refurbishing the Kenville mine portal before building the portal for the new decline. As soon as this part is finished, we can start cracking rock. The most exciting time for Ximen Mining starts right now!”
The following “2020 Work Programs“ at Kenville are planned as per the March 20 news-release: “At the Kenville Gold Mine, the Company will start work imminently on refurbishing the existing portal to the Kenville mine which will be utilized as an egress and ventilation for the new Portal. Once that is complete, work can proceed on starting the new decline following ministry final approval of the development program... In light of the current market conditions Ximen is actively pursuing opportunities and synergies to increase its precious metals land holdings in southern BC with the objective of being able to build resources in the region. With shareholder support, the input from Ximen’s Financial advisors at Laurentian Bank and the continued support from the $8,000,000 credit facility that allows Ximen to access capital when required via private placements, has put the company in the fortunate position to take advantage of opportunities resulting from the current market environment.“
On May 15, Ximen announced plans for the exploration season to begin in the next weeks: “The field season will begin in June and we anticipate initiating drilling activities immediately on the existing permitted areas, we see a very busy season ahead. Further updates on drilling start dates and an update on the progress at the Kenville Gold mine and our activities there shall follow shortly.“
On May 20, Ximen announced to be “Ready to Start Drilling in the Greenwood Camp“ and that the company “will commence the 2020 exploration season with exploration work on its Providence property in the Greenwood mining camp in southern British Columbia.“
Link to updated chart (15 min. delayed): http://schrts.co/uVBBNfpK
Ximen Mining Corp.
888 Dunsmuir Street – Suite 888
Vancouver, BC, Canada V6C 3K4
Phone: +1 604 488 3900
Shares Issued & Outstanding: 56,145,451
Canadian Symbol (TSX.V): XIM
Current Price: $0.48 CAD (05/21/2020)
Market Capitalization: $27 Million CAD
German Symbol / WKN (Tradegate): 1XMA / A2JBKL
Current Price: €0.31 EUR (05/20/2020)
Market Capitalization: €17 Million EUR
Report #20: "Hooray, Hooray: Ximen Mining is Back!"
Report #19: "Stock Market Crash and Gold Stocks: The X-Factor Poised to Separate the Wheat from the Chaff Now"
Report #18: "Shallow and deep drilling at Gold Drop produce highly promising results and findings"
Report #17: "Shallow and deep drilling at Gold Drop produce highly promising results and findings"
Report #16: "The Drill is Turning to Uncover the Stargate II Anomaly: A Large Gold Pipe?"
Report #15: "Ximen targets first gold bar pour this year from bulk sampling at Kenville"
Report #14: "All Eyes on Gold Drop and Stargate II: Deep drilling to test for a large gold deposit near Greenwood in British Columbia"
Report #13: "Ximen is pressing ahead aggressively with its goal of becoming a gold producer: Mining plan now revealed"
Report #12: "Ximen frees Kenville Gold Mine from royalty burden, making it more attractive for development"
Report #11: "The Beauty of High-Grade Gold (and Silver!): Ximen Cuts to the Chase, Expands Work Efforts on Multiple Properties in Southern British Columbia"
Report #10: “Ximen Mining: Paving the road(s) to success“
Report #9: “Ximen takes a shot at history, focuses on acquiring the Kenville Gold Mine“
Report #8: “Industry inquiries persuade Ximen‘s partner to re-assay drill core for tellurium“
Report #7: “Ximen Hires B.C. Mining Expert Dr. Mathew Ball“
Report #6: “Location is Key for Ximen‘s Treasure Mountain Project in Southern British Columbia“
Report #5: “The Unprecedented Gold-Silver-Tellurium Strikes in the Historic Greenwood Mining Camp Continue“
Report #4: “Record-Breaking Gold Hit in Southern British Columbia“
Report #3: “Strong drill results and appreciating precious metals prices may herald golden times for Ximen Mining“
Report #2: “Ximen Mining reveals striking drill core observations ahead of assays“
Report #1: “Ximen Mining: Hunting for Multi-Million Ounces in British Columbia“
Stephan Bogner (Dipl. Kfm.)
8260 Stein am Rhein, Switzerland
Cautionary Statement: Ximen Mining Corp. may decide to advance its projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure. Disclaimer: This report contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Rockstone Research, Ximen Mining Corp. and Zimtu Capital Corp. caution investors that any forward-looking information provided herein is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Ximen Mining Corp.´s and Zimtu Capital Corp.´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Ximen Mining Corp.´s and Zimtu Capital Corp.´s profile on SEDAR at www.sedar.com. Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. The author, Stephan Bogner, holds a long position in Ximen Mining Corp., and Zimtu Capital Corp., and is being paid by Zimtu Capital Corp. for the preparation, publication and distribution of this report, whereas Zimtu Capital also holds a long position in Ximen Mining Corp. Note that Ximen Mining Corp. pays Zimtu Capital Corp. to provide this report and other investor awareness services. The cover picture (amended) has been obtained and licenced from Whole Hearted.