Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Vancouver-based Ximen Mining (TSX-V: XIM) announced that it is significantly expanding its precious metals exploration efforts in 2019, with programs underway and being scheduled on multiple properties.
In a press release, Ximen said that when it comes to its flagship Brett property near Vernon, British Columbia, management plans to file a permit application to extend the historic mine drift along the trend of the Main Zone and conduct underground drilling.
This program is aimed at defining mineralized shoots on the Main Zone and exploring for parallel mineralized structures.
“A 291-tonne bulk sample was previously mined from the Main Zone, from which the average grade from the smelter was 27.74 grams gold/tonne and 63.7 grams silver /tonne,” Ximen’s media statement reads.
Regarding the company’s Kenville gold mine near the town of Nelson -also in the western Canadian province-, a detailed compilation of exploration and historic mining information is to be carried out. The miner said this work is aimed at defining targets for possible trial mining.
“The Kenville gold mine was the first hard rock gold mine in British Columbia, 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,” the media brief states.
In addition to this, Ximen also announced that it is initiating field work at the recently acquired, 12,900-hectare Providence property near Greenwood, BC.
Providence covers a total of eleven known mineral occurrences including the historic past producing Providence mine that produced 183 kilograms of gold, 42,552 kilograms of silver, 183 tonnes of lead, and 118 tonnes of zinc from 10,426 tonnes mined.
Comments
reclaimed purple
This is a land grab . They will build condos for Chinese.