VANCOUVER, March 7 /CNW/ - 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
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, firstname.lastname@example.org, www.mexivada.com