- Write by:
-
Saturday, December 7, 2019 - 10:50:09 AM
-
581 Visit
-
Print
Mining News Pro - Ximen Mining and option partner GGX Gold on Friday provided an update on the last drill hole at the Gold Drop property located in the Greenwood mining camp of southern British Columbia.
According to Mining News Pro - Shares of Ximen Mining surged by more than 11% during Friday’s session. The Vancouver-based miner has a market capitalization of approximately C$15.5 million.
In July, an airborne audio magnetotelluric (AMT) geophysical anomaly was identified on the Gold Drop property, interpreted as a pipe-like structure that measures 1,834 by 1,377 metres in width.
The last hole drilled in 2019 tested this geophysical feature and was competed to a depth of 718.8 metres on October 21. This hole was one of three holes proposed to test the feature (the other two holes will be permitted in 2020).
The hole intersected calc-silicate alteration and disseminated magnetite mineralization starting at 479 metres depth. The magnetite mineralization continues to a depth of 714.8 metres, for a total mineralized interval of over 235 metres.
The first appearance of strong magnetite mineralization at 479 metres closely corresponds to the predicted start of the modeled anomalous zone, so it appears the magnetite mineralization is the source of the geophysical anomaly.
The origin of the magnetite mineralization remains unexplained, said GGX, but its style of occurrence and association with calc-silicate alteration suggest a hydrothermal genesis, possibly sourced from an underlying intrusion.
Magnetite is commonly associated with skarn-type copper-gold deposits that are formed by replacement of limestone, an important deposit type in the Greenwood camp, with the largest being the Phoenix and Motherlode deposits.
Short Link:
https://www.miningnews.ir/En/News/453606
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 ...
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Chile’s state-run miner Codelco plans to select a partner for a future lithium project in one of the country’s top salt ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
No comments have been posted yet ...