Ximen Mining further expands footprint at famous Greenwood camp; raises C$2M in placing

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) said it continues to increase its ground in the famous Greenwood mining camp in British Columbia (BC) having bought mineral properties throughout the past two months in the area and recently staked another three claims, which adjoin its Amelia gold mine property. One claim covering 42.3 hectares was purchased from an individual west of Amelia, while two claims spanning 1,500.7 hectares were acquired through the BC mineral tenure online system. The new claims cover occurrences at Pictou, Stan, Elk, Ho and Jolly Creek Chrome, said Ximen, highlighting that official data showed that Pictou covers a 6 meter wide shear zone from which values up to 209 grams per tonne (g/t) silver have been obtained historically. READ: Ximen Mining making good progress towards production of first gold Dore bar from its Kenville project The Greenwood mining camp has a long and illustrious history, having produced 1.4 million ounces of gold, 10 million ounces of silver and 0.7 billion pounds of copper. Also in Friday's statement, Ximen said it recently closed, in two tranches, the private placing announced on June 19 for gross proceeds of C$2 million It issued over 4.4 million units at a price of C$0.45 per unit, consisting of one share and one transferable share purchase warrant. Each warrant allows the holder to purchase, for 24 months, one additional share an exercise price of C$0.75 each. Net proceeds will be used for exploration expenses on the company's British Columbia mineral properties and general working capital, it said. Contact the author at giles@proactiveinvestors.com