VANCOUVER, Nov. 21 /CNW/ -
MALAMBANI, ROC CONGO: Mexivada is pleased to report that it has
discovered four new gold zones in its Malambani exclusive concession area,
within the North Gold Belt along a 10 kilometre ("km") length west of the
previously reported Lemagna zone, where chip samples contained gold values of
up to 11 grams per tonne gold in 1-metre channel samples were found in
altered, sulfidized banded iron formation ("BIF") host rocks. These localities
are shown on a map being posted to Mexivada's website at www.mexivada.com.
Work also has continued on the plus 15.5 km long South Gold Belt, where 11
lode gold prospect areas have been located by sampling gold placer "leads" up
to their source areas. Both belts are open to the west and east.
Trenching work just completed at the Bingoumi prospect in the North Gold
Belt has unearthed a 12 m long and a plus 3 to 4 m true width zone of
auriferous BIF (see photos on website) that appears to be the same
stratigraphic unit as the BIF exposed at Lemagna, 2.8 km to the east of
Bingoumi. The BIF sequence tends to average 15 metres in true thickness, not
all of which is mineralized. Oxidized channel samples of BIF were crushed and
panned on site at Bingoumi, which yielded recovered gold contents of 23 to
36 grams per cubic metre, with gold particles up to 0.5 gram in size.
Excavation work and sampling continues now, during the rainy season at
Bingoumi to delineate the mineral system. Mexivada's work is conducted out of
its Mayoko office with 5 field geologists and engineers and approximately 40
local prospectors and other workers from Mayoko and neighboring villages.
Samples are being shipped to labs in South Africa for chemical analyses and
gold fire assays.
MOLY DOME, NEVADA: Mexivada completed its first drillhole at a depth of
459 metres, bottoming the hole in quartz-sericite-pyrite altered mineralized
granitic rocks that contained local molybdenite in possible breccia clasts
that had been transported upward from depth. A second hole was started on a
southern, induced polarization ("IP") target area, which will resume after the
Thanksgiving holiday break. The cores are being logged and will be split at a
newly-opened facility which is being rented from the Shoshone-Paiute Tribe at
nearby Owyhee, Nevada.
Mexivada's third drillhole will test a large IP chargeability anomaly to
the northwest of holes 1 and 2, which may represent a shallow mineral target
in a second igneous body in a porphyry cluster at Moly Dome. An IP section
showing this target is being posted to the Mexivada website.
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 diversified Canadian mineral exploration company focused on
identifying, acquiring, advancing, and joint venturing high-grade Gold-Silver,
Molybdenum, Diamond, and Rare Metal exploration projects in Mexico, Nevada,
and the ROC Republic of Congo. Managed by experienced and successful board
members and advisors, Mexivada is well financed with no debt. 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 firstname.lastname@example.org.
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 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,
For further information:
For further information: LionsGate Communication Corp., Telephone: (866)
922-6774 or (604) 866-7700, email@example.com, www.mexivada.com