VANCOUVER, June 6 /CNW/ - Drilling Projects: Mexivada Mining Corp. has
begun mobilization for Phase 1 reverse-circulation ("RC") drilling at its Gold
Junction, Nevada property with its contractor, Jessmarc Exploration LLC. The
drill holes will have depths of approximately 50 to 200 metres to gold
targets, testing for Round Mountain/Gold Hill type open pittable epithermal
gold targets. Upon completion of the Gold Junction program, Mexivada plans to
drill its Poker Flats Carlin-style sediment-hosted open pittable gold targets
near Carlin, Nevada. Mexivada expects to drill a total of at least 8 holes in
this Phase 1 program. The drill samples will be delivered to and assayed by
ISO-certified ALS Chemex Laboratories in Elko and Reno, Nevada.
Moly Dome, Nevada Molybdenum-Copper-Gold Project: Mexivada controls 47
lode mining claims at Moly Dome, located 120 kilometers north-northwest of
Elko, in the Edgemont Mining District. Moly Dome has outcropping, moderately
high grade molybdenum mineralization exposed at the surface. Copper and
Gold-silver mineralization also are present on the property, in the same area
as the molybdenum, but may be separate mineralizing pulses. Hand samples
contained up to 0.359% MoS2, along with anomalous values of rhenium.
Yellow-brownish vein quartz with abundant blebby azurite and malachite also
was found recently at the surface, suggesting the presence of copper
mineralization at depth. Mexivada conducted geologic mapping, sampling, and
brief soil gas geochemical testing here in 2006, and just completed detailed
geological mapping and sampling of the main target areas. Rock chip samples in
2006 returned local anomalous values of gold to 0.16 gram per tonne (gpt Au)
and to 64.6 gpt silver.
Mexivada has contracted with Durango Geophysical Operations of Durango,
Colorado to conduct an Induced Polarization survey across the porphyry target
area at Moly Dome later this month. Regional gravity and magnetic geophysical
data suggest the presence of a large plutonic intrusive body(ies) at a shallow
depth below the surface at Moly Dome, possibly associated with a porphyry
moly-copper system that would be cut by a later gold-quartz mineral system of
unknown size and origin. Small pods of argillicly to phyllicly altered
intrusive rocks are found locally at the surface, in Paleozoic hornfelsed
slate-phyllite and quartzite. The target at Moly Dome is a large, open
pittable Climax/Henderson- or Robinson-type porphyry molybdenum-copper
deposit, with a cross-cutting gold silver system, perhaps similar to that
present at Golden Phoenix' Ashdown molybdenum-gold mine, which is located 225
kilometres west of Moly Dome.
Mexivada has begun permitting for the proposed drilling program at Moly
Dome with the U.S. Department of Interior, Bureau of Land Management. If the
permits are in place, Mexivada plans to drill Moly Dome in late summer 2007,
upon completion of its drill program at Poker Flats.
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,
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 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
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