The company signed an agreement to acquire certain crown granted mineral properties covering the historic Cariboo-Armelia gold mine in Camp McKinney near Baldy Mountain Resort in southern British Columbia.
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I’m Megan Edwards for Investmentpitch Media
Ximen Mining has added another historic gold producer to its significant property holdings in southern British Columbia.
The company signed an agreement to acquire certain crown granted mineral properties covering the historic Cariboo-Armelia gold mine in Camp McKinney near Baldy Mountain Resort in southern British Columbia.
The acquisition includes the original Cariboo-Amelia Crown-granted claims totaling 199 hectares.
The Cariboo-Armelia was British Columbia's first dividend-paying lode gold mine and was the most significant producer from Camp McKinney.
Over its intermittent 68-year mine life from 1894 to 1962, the Cariboo-Armelia gold mine produced 124,452 tonnes ore, of which 112,254 tonnes was reportedly milled on-site.
Recovery included 81,602 ounces of gold, 32,439 ounces of silver, 113,302 pounds of lead and 198,140 pounds of zinc, with the lead and zinc recovered after 1940.
According to BC Minfile reports, the average recovered gold grade was 24.68 grams per tonne gold.
Terms of the deal for a 100% interest, in all the properties in exchange for 212,888 Shares of Ximen Mining Corp subject to approval from the TSX Venture Exchange.
Ximen recently acquired the Kenville Gold Mine near Nelson, the first hard rock gold mine in BC, with recorded production of 2,029 kilograms of gold, 861 kilograms of silver, 23.5 tonnes of lead, 15 tonnes of zinc, 1.6 tonnes of copper and 37 kilograms of cadmium from 181,395 tonnes processed.
Ximen owns 100 percent interest in three additional precious metal projects located in southern British Columbia.
In addition to the two gold projects, The Gold Drop Project and The Brett Epithermal Gold Project, Ximen also owns the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine.
Currently both the Gold Drop Project and the Treasure Mountain Silver Project are under option agreements, with the option partners making annual staged cash and stocks payments as well as funding the development of these projects.
Ximen’s shares are trading at $0.54.
For more information, please visit the company’s website, www.XimenMiningCorp.com, contact Christopher R. Anderson, President and CEO, by email at office@XimenMiningCorp.com
For Investor Relations contact William Sattlegger at 604-488-3900 or email at ir@XimenMiningCorp.com.
I’m Megan Edwards for Investmentpitch Media
