BRAZZAVILLE, ROC Congo, Oct. 13 /CNW/ - Mexivada Mining Corp. has resumed exploration at its Ngouaka lode and alluvial gold-diamonds target area and at its Lepandza diamond area, under the direction and supervision of Prof. Dr. Noel Watha Ndoudy of Brazzaville. Both areas are on Mexivada's 100% controlled Malambani Permis des Recherches exclusive concessions near our modern field office at Mayoko. Both areas lie within the little-explored, 120 kilometer ("km") long Mayoko greenstone belt and have good 12 month road access.
More than 1 tonne of alluvial gold and some diamonds, including a white 75-100 carat gem octahedron, were mined here before 1962 by the Avoine Company. The large diamond was found within the regional zone of disseminated gold and strong gold-quartz veining, very close to where the famous "Ambassadeur" 1 kilogram gold-(quartz) vein-slab "nugget" also was mined by Avoine. Mexivada feels that it is likely that the large diamond came from a hidden kimberlite dike zone occurring within or parallel to the gold zone at Ngouaka-Bambougna. Mexivada has started a new 2009-2010 exploration program to better define the 7 Km long gold zone and to simultaneously search for the interpreted, hidden, diamondiferous kimberlite(s).
Mexivada also will start definition of alluvial gold resources at Ngouaka-Bangadi to determine the feasibility of starting up a small-scale alluvial gold production operation. Pan concentrate values to 8.8 grams per cubic metre of gold were sampled at Ngouaka in 2008, and a company ("Quantum") earlier studied the feasibility of starting an alluvial gold mine nearby at Bangadi.
Diamond reconnaissance also will continue in our Lepandza target area, where white diamonds to 10 mm in size have been recovered in the past. Colored diamonds, including gemmy bluish-greens, occur throughout this target area. Mexivada purchased a 1 carat white diamond last year from a Lepandza prospector who recovered this stone close to where a diamond indicator G-10 garnet was recovered by our staff. Mexivada feels that Malambani holds excellent potential for discovery of an economic gold mine, and perhaps also for diamondiferous kimberlites.
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 mining and 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. For further information please visit our web site at www.mexivada.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 StatementsThis 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 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.
SOURCE Mexivada Mining Corp.
For further information: For further information: Michael J. Stetzel, Investor Relations Manager, Telephone: (866) 922-6774 or (778) 737-7771, firstname.lastname@example.org, www.mexivada.com