VANCOUVER, Dec. 2 /CNW/ - Mexivada has executed an addendum agreement to its Goldstorm property lease in Nevada with NFC Cattle Company, to include an additional 320 acres of prospective private land along the east extension of Mexivada's "Horst" Carlin-style gold target area, at a one-time cost of US$5000. We believe that this 7 kilometre ("Km") long Horst target, which has never been tested by drilling, could hold a multi-million ounce Carlin-Style gold deposit at depths as shallow as 200 metres from the surface. Goldstorm also holds potential for the discovery of somewhat deeper Midas-style gold deposits from at least 3 targets at Goldstorm. The property comprises 4,080 acres located 18 kilometres ("Km") northeast of Newmont's giant, +20,000,000 oz. Twin Creeks gold mine and 18 Km northwest of its +3,000,000 ounce Midas gold-silver mine.
An 8-line, dipole-dipole induced polarization ("IP") survey has been completed atop the Horst target area and interpreted by Wright Geophysics, discovering 2 "outstanding targets" and "numerous other targets exist along the various zones". This IP survey validated the Horst structural model, interpreted to show an uplifted block of Paleozoic rocks along the Horst, with peripheral fault-like contacts that could have been feeders for both Midas- and Carlin-style gold mineralization, at depths of 200 to 300 metres below the surface. Mexivada's contractors also completed a soil survey both along and across these fault-like contacts to define feeder zones of gold mineralization, and we are awaiting the assay and geochem results from this work. Maps and sections of the Goldstorm project work may be viewed at www.mexivada.com.
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 anticipated 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.
SOURCE Mexivada Mining Corp.
For further information: For further information: Michael J. Stetzel, Investor Relations Manager, Telephone: (866) 922-6774 or (778) 737-7771, firstname.lastname@example.org, www.mexivada.com