VANCOUVER, March 19 /CNW/ - Mexivada Mining Corp. is pleased to announce
that continued field work in the Malambani project area, near Mayoko in the
Republic of Congo ("ROC"), has led to the discovery of outcropping quartz-gold
mineralization across a 1.5 kilometre length of an east-northeast trending
master fault along the Bilala River, where it was reported that large gold
nuggets of 70 grams to 1 kilogram in weight were alluvial-mined in the past.
The Avoine Company mined 33,000 ounces of alluvial gold and several large gem
quality diamonds (to 22 millimetres in diameter) from this area after World
War 2. Fault zones of similar age and orientation controlled the emplacement
of diamond pipes in Angola and in the Mbuji-Mayi diamond mining region of the
adjoining Kasai province in the DRC Congo. Mbuji-Mayi is the world's largest
The Bilala River gold zone is 2.5 by 4.5 kilometres in size, and is
located 7 to 10 kilometers southwest of the gold zone in banded iron formation
at Lemagna, described in Mexivada's press release dated March 7, 2007.
Gold-quartz veining has now been found in scattered outcrops in and along the
Bilala and Babounga Rivers, along at least a 1.5 km length of the poorly
exposed, east-northeast trending Bilala fault system. The gold appears to be
associated with 2 to 5 cm wide quartz-gold veinlets in the fault system,
cutting amphibolite, quartzite and more iron-rich metasediments. The width of
the fault system(s) has not yet been determined due to the sparse outcrops
along the river channels. Local prospectors report that gold nuggets weighing
up to 70 grams previously were found near the gold-bearing outcrops studied by
the Mexivada field teams, suggesting that these fault zones were the source of
the large nuggets found previously. Samples have been collected for assay and
microscope analysis, which will be reported upon soon by Mexivada.
Mexivada also is evaluating several river channels for alluvial gold
concentrations at Mayoko. A 3.5 kilometre long stretch of the Bilala-Babounga
River system, which is approximately 100 metres wide, contains gravels that
are reported to contain unrecovered mineable gold. Pitting of these gravels by
local "orpailleur" miners suggests the local presence of gravels that carry up
to 3 grams per cubic metre of gold. One gold-rich area at Kongodou was sampled
by Mexivada personnel, who recovered 1 gram of alluvial gold from 4 litres of
river alluvium in a pit. Outcrops of gold-bearing metasedimentary rocks were
found to occur over a significant area near this pit. These locations are
being posted to a map on the Mexivada website.
In 2007 to date, the Mexivada field teams have cut more than 181
kilometers of sampling lines across the trend of the Mayoko greenstone belt,
on which greater than 462 soil samples and greater than 176 stream sediment
samples have been collected at Malambani, in search of both gold- and primary
diamond deposits. Three places have been found recently where alluvial
concentrations of blue, pink and black corundum, spinel (?), platy ilmenite,
and possible pyrope or rhodolite garnets have been found. The stream sediment
samples are being analyzed for gold, diamonds, and kimberlite indicator
minerals, and the soil samples are being analyzed for metals and diamonds
through fire assays and Mobile Metal Ion ("MMI") geochemistry.
No mineral resources, as defined by C.I.M. or other organizations, have
been defined by Mexivada for any of its target areas in the Malambani permits
area. The historic information provided is for reference only and the reader
should not infer or assert that the information is correct, reliable, relevant
or accurate and should not be relied upon.
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
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
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,
For further information:
For further information: LionsGate Communication Corp., Telephone: (866)
922-6774, or (604) 866-7700, email@example.com, www.mexivada.com