Ximen Mining Corp. announced results from drilling conducted last
year at its newly acquired Wild Horse Gold property, located 15 kilometers northeast of Cranbrook in the Fort Steele Mining Division in southern British Columbia. The drilling was done to extend previous drill results from 2016 that tested a gold-breccia zone
where previous surface grab sample results ranged up to 8.0 grams per tonne gold. High gold values
were intersected in the 2016 drill hole LF16-01, which was drilled at an inclination of 60 degrees
and intersected stockwork quartz veinlets and breccia in altered sedimentary rocks. Previous
reports indicate a drill intercept of 0.76 grams per tonne gold over 14.4 meters was obtained
between depths of 60.0 meters and the end of the hole at 74.4 meters. The hole ended in the
mineralized zone. In 2021 Ximen completed 2 holes for 373.7 meters cored at its Wild Horse Gold property. The
first hole (GM21-01) was an extension of the 2016 hole; the hole was deepened from 74 to 217.6
meters. The extension intersected a continuation of the quartz veinlet stockwork and breccia-style
mineralization seen in LF16-01, with consistently elevated gold values obtained between 75 and 84
meters, and local elevated gold values further down the hole. The interval from 74 to 84 meters
(10.0 meters) returned values ranging between 0.10 and 1.21 grams per tonne gold and averaged
0.42 grams per tonne gold. From 74 to 146 meters (72.0 meters) an average grade of 0.28 grams
per tonne gold was obtained.
Combining the mineralized interval from the bottom of hole LF16-01 with the upper part of hole
GM21-01, the interval from 60.0 to 84.0 meters (24.0 meters) has an average grade of 0.60 grams
per tonne gold and a lower interval between 84 and 146 (62.0 meters) meters has an average grade
of 0.26 grams per tonne gold. The entire interval from 60 to 146 meters (86 meters) has an average
grade of 0.36 grams per tonne gold. The combined results from 2016 and 2021 indicate significant
gold values over a large interval. The second hole drilled in 2021 (GM21-02) was drilled to a depth of 230.1 meters from the same
collar location as the previous hole but at a steeper inclination of 71 degrees. This hole did not
intersect the quartz stockwork-breccia intersected in the first hole. It encountered a strong fault
zone at a depth of 19.2 meters and passed into thick-bedded, calcareous quartzite and quartz grit,
interbedded with hematitic quartz grit and quartzite of the Cranbrook Formation. Below 93 meters
depth, local centimeter-scale bands of auriferous pyrite mineralization were intersected. The pyrite
bands are closely associated with quartz-carbonate veinlets and sericitic alteration, although in
places pyrite occurs without any vein quartz.
Although GM21-02 did not intersect the mineralized quartz breccia/stockwork zone that was
intersected in hole GM21-01, it intersected localized mineralization of similar character containing
significant gold values. The gold consistently correlates with pyrite, which occurs by itself or is
associated with quartz-carbonate veinlets. This mineralization may be the periphery of the main
zone. The company's interpretation is that the target zone breccia was offset by the strong fault intersected
near the top of hole GM21-02.
Re-analysis by the metallic screen method was done for a suite of 31 selected samples with results
between 0.30 and 5.43 grams per tonne gold. The metallics screen assays were not significantly
different, indicating that coarse gold is not likely present in the selected samples.