GGX/XIM In the news Ximen Mining Corp. (XIM), up four cents to 54 cents on 520,000 shares, has received assays of up to 107.5 grams of gold and 880 grams of silver per tonne over 6.9 metres from the COD vein at its Gold Drop project, near Greenwood in Southern British Columbia. Barry Brown's GGX Gold Corp. (GGX), up one-half cent to 10.5 cents on 9.61 million shares following the news, can earn a 100-per-cent interest in the project by making staged payments of cash and stock and spending $1-million on exploration by late July. (Ximen will retain a royalty and has a back-in right to form a joint venture with GGX.)
The assays, from the last four holes of a fall drill program, managed 5.76 grams of gold and 67.9 grams of silver per tonne in a second hole and 8.77 grams of gold and 85.4 grams of silver per tonne over 2.76 metres in a third. Mr. Anderson, president and CEO, says that the new hits have delivered results that are "some of the highest-grade intersections ever drilled over the last 100 years" in the Greenwood district. The latest holes probed an area near where Ximen drilled high-grade gold this summer, hitting up to 50.1 grams of gold and 375 grams of silver per tonne over 2.05 metres. An earlier follow-up test last week hit 129.1 grams of gold and 1,154.9 grams of silver per tonne over 7.28 metres.