|
Press
Release |
Source: Mexivada
Mining Corp. |
Mexivada discovers visible gold zones at Mayoko
Project, Republic of Congo
Wednesday March 7, 12:23 pm
ET
TSX-V: MNV OTC: MXVDF Frankfurt: M2Q
VANCOUVER, March 7
/PRNewswire-FirstCall/ - Mexivada Mining Corp. is pleased to announce that
visible gold has been found at two localities on its Mayoko gold project,
associated with Archean oxide facies banded iron formations. The President of
Mexivada, Richard Redfern, just returned from a field trip to examine progress
on site at Mexivada's projects in the Republic of Congo ("ROC"), where one of its senior
North American consultants is guiding the project work, along with Mexivada's
project chief, Dr. Noel Watha-Ndoudy. Mexivada also completed its initial
4-trench program at Bikelele, on its Bitsandou diamond concession, using a large
track-mounted excavator.
Visible gold has been found in
chlorite-altered, oxide facies, magnetite-hematite rich banded iron formations
("BIF") and associated breccia and vein quartz at the Lemagna and Lekoumou
target areas at Mayoko. Samples have been delivered to ALS Laboratories for rush
fire assay analysis. Mexivada has just begun work tracing out the Lekoumou
target zones along strike to determine their overall potential. Kessi reported
highly anomalous gold values of in excess of 4 grams per tonne gold in the area
in his PhD dissertation at Mayoko, but the gold potential here has never been
scientifically examined prior to Mexivada's present work effort. The Lemagna BIF
gold zone, which shows similarities to the famous Homestake Mine BIF gold
mineralization in South Dakota (+1,000 tonnes of gold mined at a grade of +8 g/t
Au), is being surveyed, mapped and sampled in detail and possible strike extensions are being studied. A third possible en echelon gold-bearing zone has
been found to the southwest of Lemagna, where prospectors developed pits and
shafts into gold-bearing quartz along a swampy area several hundred metres in
length.
Mexivada has examined less than 10
percent of the prospective Mayoko greenstone-BIF gold belt. The company feels
that this area holds the potential for the discovery of gold mineralization that
could support a large-scale mining operation. A highway and a functioning
railroad system run directly through the main project area, near the recently
discovered gold zones.
Mexivada's initial program of
trenching at Bikelele, on Mexivada's exclusive Bitsandou diamond concession area
east of Mossendjo, has been completed. Four trenches were excavated. The main
trench was sited over a spot where a 6 carat and 4 carat white diamonds were
reported to have been recovered and sold by local family prospectors. No kimberlites were intersected in the program, but several prospectives areas of
BIF were uncovered, including sheared zones with breccia mineralization. Samples
of these rocks have been submitted to ALS for analysis. The search for possible
kimberlites will continue, as Mexivada narrows down the possible areas for their
occurrence. Mexivada is also conducting reconnaissance for kimberlites in the
nearby Carrefour (BRGM) and new Vouka target areas. Mexivada has a
geological/mining engineer and 4 wheel drive vehicle dedicated to this program,
based out of Mexivada's new Mossendjo field office complex.
This press release and its contents
have been reviewed by Richard R. Redfern, Mexivada's President, who is a Certified Professional Geologist and Qualified Person as defined under National
Instrument 43-101.
About Mexivada Mining Corp.
---------------------------
Mexivada is a Canadian mineral
exploration company focused on identifying, acquiring, advancing, and joint
venturing high-grade Gold-Silver, Diamond, and Rare Metal exploration projects
in Mexico, Nevada, and the Republic of Congo. For further information, including
area maps and photos, please visit our web site at www.mexivada.com or contact us by e-mail at
info@mexivada.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"RICHARD R. REDFERN"
Richard R. Redfern
President
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 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 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.
CONTACT: LionsGate Communication
Corp., Telephone: (866) 922-6774 or (604) 866-7700, info@mexivada.com, www.mexivada.com