Ximen Mining acquires Running Wolf gold property
Ximen Mining Corp. has acquired the Running Wolf gold property located 20kms west of Cranbrook in the Fort Steele Mining Division in southern British Columbia.
The Running Wolf and Quartz Mountain properties lie within the Cranbrook Gold Belt (also known as the Kimberley Gold Trend), a zone that extends southwestward from the Northern Hughes Range, crossing the Rocky Mountain trench, into the western part of the Purcell Mountains.
Alluvial gold placer mining is estimated to have recovered 10 million oz of gold from streams in the East Kootenay area centred on Quartz Mountain since discovery of gold in 1864, and mining has continued since. Exploration for lode gold sources to the alluvial placers has been ongoing for a century.
The Running Wolf claims cover three known mineral occurrences, including Rome & Valley, Running Wolf and Gold. Historic records indicate that at Rome & Valley, two or more large quartz veins occur in a fault zone and contain pyrite and galena.
One vein has been traced 470 metres and varies in width from 0.6 to 7.6 metres. Samples of mineralized vein material are reported to have assayed from 1.08 to 19.55 grams per tonne gold. At the Running Wolf prospect, historic workings consist of five adits.
The main adit exposes three veins, each about 10 metres wide. Surface grab samples of the vein are reported to assay up to 35.0 grams per tonne gold. DDH 1985-8 intersected the No.1 vein in a sheared quartzite and assayed 2.0 grams per tonne gold over 2.0 metres. At the Gold prospect, an alteration zone in quartz phyllite is reported to have assayed 0.24 grams per tonne gold over 3.5 m.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.