Additional High-Grade Lode Gold Mineralization Discovered at Mexivada Mining Corp.'s Malambani Project, ROC Congo
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/21/11 -- Mexivada Mining Corp. (TSX VENTURE: MNV)(OTCBB: MXVDF)(FRANKFURT: M2Q) is pleased to announce that the project geological team has returned from work at Mayoko on our Malambani gold and diamonds concessions in the ROC Congo (Brazzaville). The team has found new, previously undiscovered, high-grade lode gold mineralization on the Malambani Permis des Recherches gold and diamond concessions area, located southwest of Mayoko in the Republic of Congo (Brazzaville). Gold values to 25 grams per tonne gold ("g/t Au") were returned from banded iron formation and greenstone samples in three gold project areas on the Malambani concessions, "Mifoulou", "Ngouaka", and "Antena." Gold values at Mifoulou included 3 metres at 9.567 g/t Au, 7 metres at 2.31 g/t Au, and 1 metre at 25 g/t Au. Gold values at Antena and Ngouaka included 2 metres at 19.4 g/t Au, 1 metre at 7.1 g/t Au, and 3 metres at 3.45 g/t Au with a select sample at 14 g/t Au. Mexivada looks forward to the team following up on these gold mineralized areas. Map updates are being posted to Mexivada's website at .
Gem alluvial diamonds up to approximately 75 carats in size, including fancy coloured blue-green gems to 1.5 carats in size, also have been found on the property, and are still being mined by artisanal miners at several different locations. The largest gem diamonds were mined prior to 1960 at the most productive alluvial gold operations southwest of Mayoko, suggesting a structural control of both gold and diamond systems in close proximity to each other that needs to be explored further. World diamond markets and diamond prices have rebounded substantially in recent months, spurred by new buying from Chinese and India consumers.
The overall ROC Congo project of Mexivada, of which Malambani comprises a part, is subject to a 70% earn-in by Zamarat Mining Ltd., of London and Paris. Zamarat must expend $4,500,000 to earn a 70% interest in the property, including a $100,000 cash payment to Mexivada before the end of 2011. Zamarat has expressed interest in starting alluvial gold mines on the large, 1000 square kilometre Malambani property.
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, mining, and joint venturing prospective Gold-Silver, Tellurium, Diamond, and Rare Metal exploration projects in Mexico, Nevada, Canada, 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 or contact us by e-mail at .
ON BEHALF OF THE MEXIVADA BOARD OF DIRECTORS
Richard R. Redfern, President
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.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
Contacts:
Mexivada Mining Corp.
Investor Relations
604.568.7726 or 1-866-922-6774
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Datum: 21.07.2011 - 17:23 Uhr
Sprache: Deutsch
News-ID 36824
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