VANCOUVER, June 3 /CNW/ - Moussondji Target Area: Mexivada Mining Corp. ("MNV") has begun its summer, dry season program of reconnaissance geologic evaluation and sampling on the 250 square Km Moussondji Prospecting Permit which Mexivada controls in the ROC Congo (Brazzaville). Mexivada's Chief Consulting Geologist and Projects Chief, Prof. Dr. Noel Watha-Ndoudy, is organizing and deploying Mexivada's team of geologists and mining engineers to do a detailed evaluation of potential open pit gold targets that occur in a +3 square Km mining area at Moussondji. Up to 1500 artisanal miners had been mining and recovering gold in late 2008 and early 2009 here, and Dr. Watha-Ndoudy followed up on this news and reported that miners in the area were recovering alluvial gold in stream drainages and gold contained in banded iron formations ("bifs") at the surface. An initial reconnaissance of the area last fall by Mexivada's mining engineer confirmed the artisanal mining work being done, and reported on the northeast trending structural corridor that appears to control the lode gold mineralization. The artisanal miners also worked prospects on hill slopes, suggesting the possible occurrence of disseminated, possibly open pittable gold mineralization. The Moussondji region has never been explored on a modern basis and has never received any exploration drilling.
Mexivada's gold and diamond permits and concessions cover the bulk of the auriferous 120 Km long, 10 Km wide Archean Mayoko Greenstone Belt in the ROC Congo. The new Moussondji gold discovery occurs at a major structural intersection with the northeast trending Moussondji Corridor structural zone, which extends directly on to Mexivada's exclusive Malambani gold and diamonds Permis des Recherches concessions. Scattered diamonds have been found in the area also, but the sources of these stones are not yet known. Mexivada is the first party to have filed for a new Permis des Recherches concession for Moussondji with the ROC government.
Ngouaka - Bambounga Gold-Diamonds Target Area: Mexivada also will resume work on its +7 km long Ngouaka - Bambounga gold-diamonds target area, where a large gold nugget approximately 1 kg in weight and large gem quality diamonds were recovered by the Avoine Company after World War II. Mexivada has geologically delineated a large lode gold target at Ngouaka, which will be evaluated by a magnetometric survey and excavator trenching prior to drilling. It is hypothesized that the large diamonds, reportedly one to 75-100 carats in size, might occur in ENE-trending kimberlitic dikes, subparallel to gold-controlling lode fault structures. Mexivada also will continue to investigate alluvial gold resources present in the area and decide on whether to file an application for a mining permit for this area for an alluvial gold recovery operation to generate cashflow for Mexivada.
Maps showing property geology and mineralization have been posted to Mexivada's website at www.mexivada.com. The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a non-independent 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: Investor Relations, 1-866-922-6774, (778) 737-7771, firstname.lastname@example.org, info@lionsgateIR.com, www.mexivada.com