VANCOUVER, July 21 /CNW/ - Mexivada Mining Corp. has staked and filed a
further 96 mining claims at its Goldstorm property in Elko County, Nevada.
Mexivada now controls 149 lode mining claims (2,980 acres) and 800 acres of
private land at Goldstorm. The claims are located in the Snowstorm Mountains
Mining District 18 kilometres ("km") northeast of Newmont's large producing
Twin Creeks gold mine, near the intersection of the Carlin-, Getchell- and
Northern Nevada Rift gold trends. Metallurgically compatible milling
facilities are present at Newmont's Midas Mine, situated 18 km to the
southeast of Goldstorm.
Mexivada recently discovered outcropping high-level Midas-style gold- and
naumannite (silver selenide) bearing quartz veining at the surface in
silicified/replaced spherulitic rhyolites, which also are found near the top
of the Midas Mine gold-silver system. The best assay from this Prospect Hill
zone is 9.0 grams per ton ("g/t") gold and 43.9 g/t silver, across a surface
trench width of 3 metres, and surface grab samples taken by prior explorers
from the Dome Hill zone further to the south reportedly assayed up to 30 g/t
gold. Forty exploration holes have been drilled by 3rd party companies to
date. Mexivada recently acquired a large database from Metallic Ventures,
which is being augmented by field geologic mapping. High grade gold-silver
mineralization present at Goldstorm is believed to represent the "poddy" zone
above possible zones of better continuity of gold mineralization, as exist at
Mexivada recently completed a ground gravity survey at Goldstorm, which
indicated a large block of uplifted basement rocks south of a west-northwest
trending fault jog going through the heart of the property, a highly favorable
exploration target for Carlin-style gold mineralization in Paleozoic
carbonate-bearing sedimentary rocks. A number of gold targets on the property
have never been tested by drilling, and the modern exploration models for
Midas-and Carlin-style gold deposits suggest that deeper drilling on the
property is necessary to reach certain of these targets. Mexivada plans to
begin permitting for drilling at Goldstorm in late 2008. No mineral resources
or mineral reserves have been defined at Goldstorm.
The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified
Professional Geologist, a 'qualified person' for the purposes on National
Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified
the information (including maps, sampling, and analytical test data) 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, and joint venturing high-grade Gold-Silver,
Diamond, Molybdenum, Tellurium 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 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 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.
For further information:
For further information: LionsGate Communication Corp., Telephone: (866)
922-6774 or (604) 866-7700, firstname.lastname@example.org, www.mexivada.com