VANCOUVER, Sept. 21 /CNW/ -- Mexivada has discovered a diatreme volcanic pipe intrusive body located near high-grade (39 g/tonne) gold-quartz float mineralization sampled at the surface on its wholly-owned Goldstorm property in Nevada. The Goldstorm property comprises 3700 acres located 18 kilometres ("Km") northeast of Newmont's giant, +20,000,000 oz. Twin Creeks gold mine and 18 Km northwest of its Midas gold-silver mine.
Dioritic rocks in this young diatreme pipe body look similar to rocks at the Goldstrike mine of Barrick. Gold-bearing diatremes can be excellent, high-grade bulk-tonnage gold targets, such as are present as the giant Fruta del Norte gold deposit in Ecuador of Kinross-Aurelian.
Although this new gold target has not been tested by drilling, it could be the source of the high-grade float at Goldstorm.
Mexivada has a top geologist mapping and sampling the new discovery and hopes to report on the results within the next 30 days.
ROC Republic of Congo Update - Gold: Mexivada signed the final Convention document with Hon. Mines Ministre Pierre OBA of the Republic of Congo on July 30 in Brazzaville, granting Mexivada title to its Permis de Recherches ("PR") concessions for gold and diamonds.
Mexivada is evaluating its best area for surface mining potential, the 5 kilometre long Ngouaka gold zone, from which a 1 Kg gold-quartz vein slab "nugget" was mined prior to 1960. Mexivada has recovered gold at Ngouaka up to 8.8 g/m3 by pan concentrate sampling. A previous company investigated a start-up of alluvial gold mining at Ngouaka. Mexivada's goal is to generate fast cashflow from surface gold at Ngouaka, to help to pay for lode exploration of the property. Ngouaka holds good potential for discovery of an open pit and underground gold mine.
Christopher Cherry appointed CFO: Christopher Cherry has been appointed Chief Financial Officer of Mexivada, replacing Stuart Rogers, who has resigned as an officer and director of Mexivada in order to focus on his duties as President of Max Resource Corp. Mr. Cherry is a Chartered Accountant and financial controller with iO Corporate Services Ltd., and is CFO of a number of other listed companies, including Max and Reva Resources Corp.
The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the information and evaluated the interpretations contained in this news release.
About Mexivada Mining Corp.
Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, mining, and joint venturing high-grade Gold-Silver, Tellurium, Diamond, and Rare Metal exploration projects in Mexico, Nevada, and Africa. Mexivada is managed by experienced and successful board members and advisors. For further information, including area maps, sections, and photos, please visit our web site at www.mexivada.com or contact us by e-mail at email@example.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"RICHARD R. REDFERN"
Richard R. Redfern
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Caution Concerning Forward-Looking Statements
This news release and related texts and images on Mexivada's website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the expected results of this work. Forward looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals and diamond prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in these work programs.
Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. Mexivada Mining Corp. undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors, should change.