Ximen Mining (XIM) has contracted Toronto-based Micon International Limited to provide technical services related to the Kenville Mine.
The Kenville Mine was British Columbia's first hard rock gold mine, having been discovered in 1887. It was mined intermittently between 1890 and 1954, with recorded production of 65,381 ounces of gold, 27,685 ounces of silver, 23.5 tonnes of lead, 15 tonnes of zinc, 1.6 tonnes of copper and 37 kilograms of cadmium from 181,375 tonnes processed.
The Kenville gold deposit consists of multiple gold-silver quartz veins hosted by diorite. Between 2007 and 2012, diamond drilling was conducted that intersected new gold-silver mineralized veins in previously untested areas west and south of the historic mine. No mineral resource estimate was ever made for the new zones intersected by drilling west and south of the mine.
However, in 2009 the previous operator produced a NI 43-101 report, now historic, based on detailed sampling conducted within the mine which disclosed a Measured and Indicated resource estimate of 16,289 ounces and an Inferred resource estimate of 356,949 ounces gold.
Initially, Micon will create a resource estimate for the new decline project to support plans for a 10,000-tonne bulk sample. This new resource estimate, focused on areas not previously reported on in earlier historic mineral resource estimates, will be the basis for a new NI 43-101 resource estimate.
Ximen is continuing to advance its conceptual fast-track development schedule for the Kenville Bulk Sample, with permitting for the new mine development progressing well with the application now under technical review by the Mines Review Committee.
Since the acquisition of the Kenville Gold Mine, Ximen has continued to expand its holdings in the area to approximately 19,000 hectares and is currently submitting applications for exploration permits for other areas surrounding the Kenville mine property.
Ximen is focused on being the next significant high-grade gold producer in southern BC.
Ximen Mining (XIM) is up 8.2 per cent, trading at C$0.33 per share at 11:45 am ET.