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Ximen Mining Focuses on Acquisition of the Kenville Gold Mine Nelson BC
VANCOUVER, BC / ACCESSWIRE / April 8, 2019 / Ximen Mining Corp . (TSX-V: XIM, " Ximen " or th...
About this update from Ximen Mining Corp.
[{"type":"text","content":"Ximen Mining Focuses on Acquisition of the Kenville Gold Mine Nelson BCVANCOUVER, BC / ACCESSWIRE / April 8, 2019 / Ximen Mining Corp. (TSX-V: XIM, \"Ximen\" or the \"Company\") announces that it has entered into an option agreement with Don Althen, an individual who is arm’s length to the Company, dated April 5, 2019 (the \"Option Agreement\") under which the Company has acquired an option, exercisable in the Company’s sole discretion, to purchase all of Mr. Althen’s interest in: a promissory note issued by 0995238 B.C. Ltd. (\"0995238\") to Mr. Althen dated August 10, 2017 in the amount of $780,000 plus interest (the \"First Promissory Note\"); a promissory note issued by 0995238 to Mr. Althen dated May 29, 2018 in the amount of $1,000,000 plus interest convertible into common shares in the capital of 0995237 at a deemed price of $0.02 per common share (the \"Second Promissory Note\"); certain mining equipment located in Del Bonita, Alberta (the \"Mining Equipment\"); and 5,333,334 common shares in the capital of 0995237 (the \"Shares\" and collectively with the First Promissory Note, the Second Promissory Note and the Mining Equipment, the \"Optioned Assets\"). The principal asset of 0995237 is its option to acquire the Kenville Gold Mine located west of Nelson, British Columbia.The Kenville Gold Mine has played a major role in the rich history of BC Gold mining. It was the first underground lode gold mines in British Columbia and was once the largest producer in the Nelson Mining Camp. There have been multiple new targets and veins discovered in the last several years and Ximen is looking forward to the potential opportunity that exists ahead. Says Anderson CEO Ximen Mining Corp About the Kenville Gold Mine The Kenville Gold mine was discovered and staked in 1888 and was the first hard rock gold mine in British Columbia. It was mined intermittently until 1954, 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 property is located 8 km west of Nelson, BC, is accessible by paved road and is connected to the power grid. Existing infrastructure includes mining equipment, offices, mechanic shop, core storage and accommodation. The mine deposit consists of multi...