VANCOUVER, Feb. 27 /CNW/ - Mexivada Mining Corp. (MNV.V) has begun
alluvial diamond mining near Koidu Town in the famous Kono mining district of
Sierra Leone. Kono is renowned for its high-quality white gem diamonds, but
also yields highly attractive green, yellow, and rare blue and reddish colored
stones. The adjoining mining property downstream is reporting gem quality
white, green, and yellowish diamonds up to 14 carats in weight.
Mexivada manages an artisanal mining partnership that is focused on
mining a braided-stream channel gravel deposit that has been determined to be
approximately 100 feet in width, with the most diamond-enriched portion being
the lowest 12 to 24 inches at the base of the deposit. Mexivada presently
employs a crew of approximately 35 local artisanal miners, and to date has
spent 4 days in start-up of mining of the main channel gravel.
The partnership started mining and processing diamondiferous gravels
using a Hartz jig on a small dump pile of gravel and recovered 3 small gem
diamonds totaling approximately 0.3 carat, including 2 colorless stones and a
clear yellow octahedral diamond. Mining of the main channel has to date
yielded six other diamonds ranging in size between approximately 0.1 to 0.45
carats each, and the diamond indicator minerals corundum and ilmenite, and
olivine. The diamonds recovered include a 0.45 carat eye-flawless "dazzling
white, blue-flash" gemstone, a 0.28 carat light bluish green gem, and a small
Mexivada is very encouraged by the first few days of its diamond mining
operations at Kono, and intends to periodically report on progress as the
heart of the channel gravel deposit is accessed and processed through our
recovery plant system.
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 mining and mineral exploration company
focused on identifying, acquiring, advancing, and joint venturing high-grade
Diamond, Gold-Silver, and Rare Metal exploration projects in Mexico, Nevada,
Sierra Leone, and the ROC 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 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 and mining 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 (778) 737-7771, email@example.com, www.mexivada.com