VANCOUVER, Oct. 18 /CNW/ - Mexivada Mining Corp. is pleased to report the
completion of the second core drill hole of its 2000 metre Phase 1 drilling
program at its La Republica silver-gold-zinc-lead property,Yécora District,
Chihuahua, Mexico. Drill hole LR-07-2 tested north of drillhole LR-07-1 and
north of the Main Stope zone, where more than 5,000,000 ounces of silver was
produced historically from high-grade silver-gold ore mined between 1906 and
1912, which assayed up to 5.99 kilograms per tonne ("kg/t") silver and up to
8.56 g/t gold. The base of the mineralized zone in the Main Stope was
particularly rich locally, with assays to 51 kg/t silver reported. The
historic mine production information above is for reference only, and the
reader should not infer or assert that the information is correct, reliable,
or accurate and should not be relied upon.
Mexivada's drillhole LR-07-2 intercepted 6 metres of gray, highly
silica-sulfide replaced fault breccia between 165 and 171 metres. Visual
coarse sulfosalt mineralization, possibly tetrahedrite, to 1 millimetre in
size was noted in the basal part of the fault zone between 170 and 171 metres
in the core. This zone has a true width of nearly 6 metres, and indicates a
probable continuation of the Main Stope to the north toward the Polverine
zone. Additionally, rhyolitic porphyry dikes are present in the footwall,
similar to hole LR-07-1, to a depth of 179 metres, and altered andesites with
up to 3 percent contained pyrite were ALSO present in LR-07-2 to a depth of
206 metres, where a late, non-mineralized fault was encountered and the
drillhole was terminated. While mineralization was noted in portions of the
drillhole, no conclusions can be drawn as to the grade or extent of the
mineralization prior to the receipt of assays. The drill samples are being
sawed and delivered for fire assay to ALS Laboratories in Hermosillo.
Mexivada's third drillhole is being collared north of LR-07-2, targeting
the Polverine zone, where Mexivada sampled and assayed a 2 metre thick zone of
breccia from the Republica Fault Zone that assayed 1,230 g/t silver, 0.88%
zinc, 0.31% lead, and 0.2 g/t gold.
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 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.
For further information:
For further information: LionsGate Communication Corp., Telephone:
1-866-922-6774 or (604) 866-7700, email@example.com, www.mexivada.com