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InvestmentPitch Media Video Discusses Ximen Mining's Acquisition of Royalties for Key Properties in the Greenwood Camp, British Columbia - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2020) -   Ximen Mining (TSXV: XIM...
About this update from Ximen Mining Corp.
[{"type":"text","content":"InvestmentPitch Media Video Discusses Ximen Mining's Acquisition of Royalties for Key Properties in the Greenwood Camp, British Columbia - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - June 26, 2020) -   Ximen Mining (TSXV: XIM) (OTCQB: XXMMF) (FSE: 1XMA) has acquired net smelter royalties in the Greenwood Ming Camp, in southern British Columbia. Ximen purchased two NSR's from arm's length parties on the Golden Crown property owned by Golden Dawn Minerals Inc.For more information, please view the InvestmentPitch Media \"video\" which provides additional information about this news and the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Ximen\" in the search box.Cannot view this video? Visit:https://www.youtube.com/watch?v=BxAOrRmzO-wThe first is a 3% NSR on a group of 11 mineral tenures that make up part of the property, with the second is a separate 3% NSR on 2 other mineral claims in the property. Ximen also purchased a NSR of 3% on the May Mac mine property, covering one mineral claim and two mining leases, as well as an existing royalty consisting of $5 per ton on material processed in the May Mac mill. Ximen paid 1 million shares, subject to TSX Venture Exchange approval, to arm's length vendors, who have entered into a voting trust agreement to vote the shares in favour of Ximen management.The Golden Crown property to which these royalties apply includes a mineral resource that was disclosed by Golden Dawn in 2017 and filed on Sedar. It included 163,000 tonnes indicated with 11.09 grams per tonne gold and 0.56% copper, along with 42,000 tonnes inferred with 9.04 grams per tonne gold and 0.43 percent copper. The Golden Crown mineral resources were included in a Preliminary Economic Assessment for mine development and processing at the Greenwood mill, which is also located on the Golden Crown property.The May Mac mill was constructed in 1980 as a 100 ton per day gravity-flotation mill to process material from the May Mac mine. Both the mine and the mill have existing permits that can be amended for future use. The May Mac mine has been worked intermittently since the original Crown Grant was staked in 1887.Initially, two tunnels separated by 23 meters vertically were driven and a small tonnage was produced from a sub-meter wide quartz vein car...