VANCOUVER, Feb. 17 /CNW/ - Sierra Leone Projects: Mexivada Mining Corp.
(MNV.V) has begun diamond mining near Koidu Town, in the heart of the famous,
world class Kono mining district of Sierra Leone. Hundreds of millions of US
Dollars worth of diamonds are produced from the district every year, including
many fancy-colored stones. Kono is renowned for its high-quality white gem
diamonds, but also yields highly attractive green, yellow, and rare blue and
reddish colored stones. In earlier years, many of the colored diamonds were
reported to have been discarded. The Kono District is home to the largest
concentration of artisanal miners in the world.
Mexivada's partners have received a second artisanal mining license
("AML") for diamond mining from the government of Sierra Leone. This AML
covers a 1-acre site adjoining the first license, on the opposite, upslope
side of the creek. The Mexivada partnership will mine the first AML area and
then proceed to the second AML area afterward.
Mexivada's mining operation is focused on mining a large-diamond-bearing
channelized deposit of alluvial gravels and on previously extracted, but
unprocessed, dump piles of these gravels from the first AML. This
diamondiferous gravel channel has yielded white, green, and yellowish diamonds
up to 14 carats in weight from the adjacent, privately-owned AML on the
downstream side of Mexivada's present operation.
The targeted braided-stream channel gravel deposit is approximately 80 to
100 feet in width, and the most highly diamond-enriched portion is the lowest
12 to 24 inches at the base of the channel deposit. Overburden gravels on
Mexivada's first concession appear to be 6 to 8 feet in thickness. These upper
gravels will be tested for larger, trapped diamonds and also for any remnant
smaller diamonds, as part of the due diligence process. Mexivada is targeting
the recovery, through Hartz jigs, of larger, plus 0.5 carat to plus 10 carat
white and colored diamonds for the specialty and auction diamond markets.
Mexivada will report on the results achieved from this initial test mining
evaluation prior to the PDAC meeting in Toronto in March, 2009.
Mexivada also is starting up a new white- and colored-diamond
purchase-and-export business for the North American and European consumer and
auction markets, to complement its mining and exploration efforts. Mexivada's
plan is to have this business up and running within several weeks.
ROC Congo Projects: Adolphe Nguimbi, Mexivada's General Manager in the
ROC Republic of Congo (Brazzaville), reports that a one carat white diamond
was found by a gold prospector in Mexivada's Lepandza-Makoubi-Bouawsa diamond
project area near Mayoko, Congo. The diamond was found in Lepandza Creek,
approximately 420 meters westerly of a sample that contained chromites and a
0.5 mm diamond, and 520 meters west of a sample in which a "G-10" diamond
indicator garnet was recovered. Mexivada feels that this target area is an
excellent prospect for discovery of a diamondiferous kimberlitic pipe or dike
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. 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 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, firstname.lastname@example.org, www.mexivada.com