Mon, 20 Sep 2021

Kenville Gold Mine; Nelson, BC

VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / Ximen Mining Corp. (TSXV:XIM)(FRA:1XMA)(OTCQB:XXMMF) (the 'Company' or 'Ximen') is pleased to announce a summary of the results of a hydrogeology assessment completed for the Company's 100% owned Kenville Gold Mine project at Nelson in southeastern British Columbia.

The Company recently engaged Ecoscape Environmental Consultants Ltd. ('Ecoscape') to conduct a hydrogeology assessment of the Company's plan to construct a new underground decline at the Kenville Gold mine. The objective of the study was to provide an assessment of the likelihood of hydraulic connectivity between an underlying aquifer that the proposed decline that will pass through it.

The report concluded that the 113 domestic wells currently accessing the aquifer only demand 13,6 % of the annual recharge. The proposed portal at Kenville Gold Mine would have a negligible effect on groundwater supply in the aquifer. Further, the report concluded that it's not likely that there is any connection between the aquifer 511 IIB and Eagle Creek.

Photo showing access to the new portal site.

Photo of New portal site at Kenville Gold Mine.

Highlights of the report include:

  1. The Water Resource Atlas identifies aquifer 511 IIB as underlying the Kenville site. This domestic use aquifer is a fractured crystalline bedrock aquifer. The aquifer fact sheet lists it as not likely connected to surface water sources.
  2. Ecoscape's hydrogeology model indicates the top of bedrock Aquifer 511 is at a minimum of 30 metres below Eagle Creek and that Eagle Creek is perched above this aquifer and separated from it by unsaturated, low-permeability bedrock. Ecoscape concluded that it is quite unlikely that groundwater from Aquifer 511 upwells through the bedrock and overlying glacial till into Eagle Creek near the proposed site. As such, the bedrock aquifer is not likely hydraulically connected to Eagle Creek.
  3. Given the inferred deep depth to Aquifer 511 and the massive, low permeability nature of local bedrock, Ecoscape expects that nearby springs and drainages are fed by shallow groundwater that daylights in areas where the bedrock-overburden interface is exposed. As such Aquifer 511 is not likely hydraulically connected to these features.
  4. The proposed decline is away from nearby wells and will intercept groundwater at a distance greater than 520 metres from the nearest well. Along with a relatively low anticipated dewatering rate from the portal, Ecoscape expects a negligible effect on downslope water users.
  5. Portal dewatering is unlikely to significantly affect groundwater supply in the aquifer. The average annual groundwater recharge to the aquifer may be as high as 805,020 m3/year. Based on conservative estimates from 113 domestic wells, users would require aquifer demands of approximately 103,169 m3/year or 13.6% of estimated annual recharge.

West to East Conceptual Schematic Cross Section

(from a report by Ecoscape Environmental Consultants Ltd.)

A technical video outlining the report can be found on Ximen's Youtube channel

https://www.youtube.com/c/XimenMiningCorp

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.

On behalf of the Board of Directors,

'Christopher R. Anderson'

Christopher R. Anderson,
President, CEO and Director
604 488-3900

Investor Relations:
Sophy Cesar
604-488-3900
ir@XimenMiningCorp.com

About Ximen Mining Corp.

Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. Ximen`s two Gold projects, The Amelia Gold Mine and The Brett Epithermal Gold Project. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. Currently, the Treasure Mountain Silver Project is under an option agreement. The option partner is making annual staged cash and stocks payments as well as funding the development of the project. The company has also acquired control of the Kenville Gold mine near Nelson British Columbia which comes with surface and underground rights, buildings and equipment.

Ximen is a publicly listed company trading on the TSX Venture Exchange under the symbol XIM, in the USA under the symbol XXMMF, and in Frankfurt, Munich, and Berlin Stock Exchanges in Germany under the symbol 1XMA and WKN with the number as A2JBKL.

This press release contains certain 'forward-looking statements' within the meaning of Canadian securities This press release contains certain 'forward-looking statements' within the meaning of Canadian securities legislation, including statements regarding the receipt of TSX Venture Exchange approval and the exercise of the Option by Ximen. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words 'expects,' 'plans,' 'anticipates,' 'believes,' 'intends,' 'estimates,' 'projects,' 'aims,' 'potential,' 'goal,' 'objective,' 'prospective,' and similar expressions, or that events or conditions 'will,' 'would,' 'may,' 'can,' 'could' or 'should' occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not accept the proposed transaction in a timely manner, if at all. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Ximen Mining Corp

888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4 Tel: 604-488-3900

SOURCE: Ximen Mining Corp.



View source version on accesswire.com:
https://www.accesswire.com/657528/Ximen-Mining-Advancing-Its-ESG-Mandate-Completes-Hydrogeology-Study-and-Video-Outlining-Water-Usage

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