VANCOUVER, May 27 /CNW/ - Mexivada has received gold-silver assays from a
sampling program conducted at its 3,700 acre Goldstorm property in Nevada.
Goldstorm is located within the intersection zone of the Carlin-, Getchell-
and Midas (Northern Nevada Rift, "NNR") Gold Trends in Nevada, 18 kilometres
("Km") northeast of the giant, +20,000,000 oz. Twin Creeks - Getchell gold
mine complex of Newmont and Barrick, and 18 Km northwest of Newmont's Midas
Goldstorm has outcropping high grade Midas-style gold mineralization,
with previous sample assays of up to 39 grams per ton ("g/t") gold reported at
the surface. New geophysical data and a compilation of data acquired by
previous owners have led Mexivada to the recognition of a major Carlin-style
("CS") gold target, more than 7 Km in length that may have multi-million ounce
gold potential. Several +5,000,000 ounce CS gold deposits occur immediately to
the southwest of Goldstorm in the Getchell-Twin Creeks sector, owned by
Newmont and Barrick. Goldstorm may also have excellent potential for the
development of a stand-alone, high-grade Midas-style gold-silver mine on the
Carlin-Style Gold Targets: Mexivada has developed a new model for
shallow-depth CS gold mineralization along a 7 Km length of the Goldstorm
property. Only one previous drillhole has tested part of this large target
area, and even it was too shallow to intersect the main target horizons of
Paleozoic sedimentary rocks. An uplifted fault block is interpreted from a
nearby previous drillhole to have favorable Paleozoic host rocks for
disseminated CS mineralization present at as little as 500 feet below surface.
Mexivada conducted ground gravity- and magnetics programs during 2008 that led
to definition of these targets. A Touchstone Resources core hole in 1990,
situated 350 metres west of the main "Horst" CS gold target, encountered
silica-epidote replaced calc-silicate hornfels, possibly a slump block of
mineralized Paleozoic basement rocks from the adjoining "Horst" target area,
at depths of 373 to 400 feet in the drillhole, with up to 5-10% pyrite and
anomalous gold, silver and arsenic. The "Horst" target area at Goldstorm also
shows highly anomalous gold-in-soil values along possible gold-feeder faults,
as assayed by Crown Resources in the late 1990s.
Midas-Style Gold Targets: Mexivada has received assays from 9 new surface
rock chip samples taken in 2008 at Goldstorm of Midas-style gold-silver
mineralized banded quartz veins that locally have naumannite (silver selenide)
interlayered in the bands. These samples contained up to 2.5 g/t gold, up to
11.25 g/t silver, and up to 1.06 g/t mercury, typical of high-level
Battle Mountain Gold sampled a 3 metre wide surface vein in the
late-1990s that assayed 9.0 grams per ton ("g/t") gold and 43.9 g/t silver.
Surface rock samples also were collected in the late 1990s by Crown Resources'
that assayed up to 39 g/t (1.14 oz./t) gold and 92.7 g/t silver at the Dome
Hill target. These samples in total have led to definition of a complex
Midas-style target area controlled by northerly- and
west-northwesterly-trending vein target zones over a 5 square kilometer target
area that was not well tested by previous shallow drilling by 3rd parties.
Mexivada believes that the main targets were never adequately tested at depth
by previous drilling. A new structural model for the Dome Hill target is a
zone of intersection of north-northwest and northwest-trending faults,
analogous to the Gold Crown-Colorado Grande intersection zone in the Midas
mine. The "Prospect Hill" target, on private land leased by Mexivada, contains
banded quartz-naumannite veining and the high-grade Battle Mountain trench.
The vein systems here are poddy, typical of the zone above ore continuity at
Midas. Deeper drilling is needed to test the potential of this target. Several
additional new targets have been developed elsewhere on the Goldstorm
Mexivada interprets these data to indicate Goldstorm to be a highly
favorable exploration area for Midas- and Carlin-style gold mineralization,
close to established mining infrastructure. Mexivada continues to evaluate its
large data package, and conduct field work to validate large-scale gold
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 and evaluated the interpretations contained in this news
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 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 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: Michael J. Stetzel, Investor Relations Manager,
Telephone: (866) 922-6774 or (778) 737-7771, email@example.com,