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TSX Venture Exchange: MNV
Frankfurt (Xetra) Exchange: M2Q
Deutsche Investoren klicken bitte hier PROJECT UPDATES ON WEBSITE:
| | | | Mexivada Mining Corp. is a well financed junior exploration company that went public on the TSX Venture Exchange in 2005, trading under the symbol "MNV." Mexivada controls gold-silver-tellurium, diamond, molybdenum and uranium prospects in Nevada, Mexico, and the "ROC" Republic of Congo (Brazzaville). Mexivada's team of experienced geologists and mining engineers have been associated with discoveries and mine developments worldwide. Management controls a large shareholding in Mexivada and is committed to increasing shareholder value through discoveries by exploration and Joint Venture efforts. Mexivada has just started a new exploration program in the U.S. and Mexico to discover new mine production sources of tellurium (to $500/kg) to supply the burgeoning Cd-Te solar panel (FSLR) and Intel's new-age computer chip industries. "ROC" REPUBLIC OF CONGO: Mexivada also is actively exploring its large, exclusively-held gold and diamond concessions in the ROC Republic of Congo (Brazzaville). The stable and peaceful ROC is a separate country that lies to the north of the Democratic Republic of Congo ("DRC"), with which it is often confused. Mexivada controls four Phase 1 prospecting permits covering 9,156 square kilometres, and three exclusive, Phase 2 exploration concessions ("Permis des Recherches") that cover 1990 square kilometres for gold-and- connected substances and raw diamonds near Mayoko, in the southwest part of the ROC near the border with Gabon. The projects are centered on the Archean Mayoko Greenstone Belt, a past producer of alluvial gold and large gem diamonds. Searchgold Resources recently reported the discovery of a high-grade gold system at Bakoudou, located just northeast of Mexivada's large Mbinda prospecting permit. A Chinese company, Congo Trading and Development, also is prospecting for gold and diamonds in the region, and Lundin Mining Corp. also controls prospecting permit(s) in the country. The three-year Malambani (2) and Bitsandou Permis des Recherches were signed on April 3, 2008 by the President of the Republic of Congo, the Hon. Mr. Denis Sassou N'Guesso, granting secure title to Mexivada. Mexivada's three exclusive exploration concessions (1,000 (2) and 990 square kms in size) cover highly prospective known Gold and Diamond Trends in the ROC Chaillu Massif. More than 33,600 ounces of alluvial gold, including a 1 kilogram gold nugget, and a 22-millimetre (+75 carats) world-class white gem diamond and a 7.0 millimetre (approx. 1.5 carats) "blue/yellow" diamond were recovered after World War II from Mexivada's exclusive Malambani concession area at Mayoko, and a reported "10 millimetre" diamond later was recovered by local prospectors near Mayoko at Makoubi. Diamonds: Mexivada recently started a major grid sampling program for diamonds after a brand new discovery of a 3.5 mm white gem quality diamond at Bouawsa, a new area located in the 9 by 12 kilometre "NE Diamond Corridor" near Mexivada's modern, satellite internet-equipped field office complex at Mayoko. Mexivada also recently discovered a new area at Lepandza with a 0.5 mm white diamond and apparent kimberlite-associated chromite, where a sampling program has only now just begun, after recovering a "G-10" pyrope garnet. G-10 garnets typically are associated with diamondiferous kimberlites; meaning that a pipe could lie very nearby it. The diamond was discovered by Mexivada's new diamond specialist, Siva Sankar, a De Beers-trained geologist, who re-examined sample concentrates taken in 2007. Mexivada also recently made a new discovery containing macro diamonds and kimberlite indicator minerals at Madoka, where 3 additional diamonds of up to 4.5 millimetres in size were found, with 2 being gemmy and 2 of the 3 being colored stones, along with chromite(?) and red-purple garnets (pyropes?). These Madoka stones may indicate that a primary gem diamond dike or pipe may be located in close proximity to these recovered stones, and a metamorphosed "amphibolite" of unusual form was found there that could be associated with kimberlitic bodies. Several diamond-bearing target areas are present in our "Bitsandou Diamond Corridor", located south of Malambani, including Carrefour, Bikelele, Mahouta-Grushevidnyi, and Mpoukou, where prospectors reported that alluvial diamonds up to 4 carats in size were recovered. Initial excavator testing was conducted at Bikelele in 2007. Gem quality diamonds have been found, including stones that are virtually un-scratched, indicating probable short distances of stream transport. Historically, a 4500 carat alluvial diamond resource was outlined by Russian work in the late 1960's on Mexivada's central area, and 17,000 carats of alluvial diamonds were mined after World War II by SOREDIA from our Nzambi prospecting permit area. Mexivada collected diamonds at Bitsandou, including a 0.15 carat flawless, inclusion-free, fancy coloured diamond gemstone of light blue-green color, and several gems of orange brown colours. Good quality naturally-coloured diamonds presently are a very strong market, with quality gem stones typically being sold only through the auction process, at very high prices to diamond collectors and specialty stores like Tiffany's. The Chaillu appears to hold an abnormally high percentage of colored stones, including the extremely rare, high-priced blue and green stones. Mexivada continues its systematic exploration for new diamond pipes in the ROC, utilizing the services of Siva Sankar, a De Beers-trained diamond expert. No demonstrated kimberlite pipes or dikes have been found by the company to date, but geologic evaluations and geochemical testing for diamonds continues apace in this very large area. We feel that our concessions hold excellent possibilities for discovery of diamondiferous kimberlite bodies. Gold: Mexivada continues its focus in ROC on the discovery of lode gold deposits, in addition to evaluating the known, substantial placer gold deposits on site. Mexivada has delineated two individual paired gold belts at Mayoko, which extend for impressive strike distances of 14 to +21 kilometres. At least four types of lode gold deposits currently are recognized by Mexivada in the greenstone belt sequence at Malambani, including 1) Shear Zone hosted gold-quartz-(sulfide) veins along fault / formation contacts, such as at Bambounga and Ngouaka; 2) possible Musselwhite-type BIF-hosted feeder- type disseminated and replacement gold mineralization in pyrite-gold-quartz sulfidation zones in and near banded oxide facies iron formations, as at Lemagna, where gold values to 11 grams per tonne in 1 m channels were taken by Mexivada; 3) Meta-conglomerate-hosted gold and diamond mineralization was reported by Russian investigators to occur near Mayoko, which could be Witwatersrand, South Africa-style mineralization; and 4) Intrusive-related gold-bismuth enriched zones at FMI and Tsopo could represent open pittable targets of "Fort Knox"-type gold. The gold deposit types may be superimposed atop of each other in the core of the sheared greenstone belt, opening the possibility for discovery of open-pittable, hybrid, multi-pulse, higher-grade gold systems of large size at Mayoko. Mexivada works through all of the Congo dry and rainy seasons out of its modern field offices, during which several new gold discoveries have been made, such as gold at Bambounga-Ngouaka-Lemagna-Ngouhada-Lepindzi, where channel samples have yielded assays of up to 11 grams per tonne gold across 1 metre, and at Bingoumi, where gold particle masses with quartz up to 4.4 grams in size have been extracted from host rocks that have been crushed and "panned" by Mexivada's geologists. A work program has just begun and a discovery of quartz vein/sulfides just made at Lepindzi, where a 3+ km long BIF-cored range is surrounded by placer gold mine workings, and where the Avoine Company also had recovered one or more diamonds in adjoining creeks after World War II. Test samples are being shipped to accredited fire assay labs, MMI and acid-reduction geochemical facilities, and diamond separation laboratories in South Africa, Canada, and Nevada. Mexivada will report on these results as the data become available. MEXICO: Mexivada controls gold, silver and tellurium projects in northern Mexico. The Yécora Au-Ag-Zn-Pb project is located in the Sierra Madre Occidental gold-silver Trend of northern Mexico, near the Mulatos, Ocampo and Pinos Altos Mines. Coeur d'Alene Mines, owner of the Palmarejo silver-gold property, controls exploration concessions at Yecora located inside of and surrounding Mexivada's 1041 hectare property. Mexivada has completed Phase 1 core drilling at Yécora, which yielded good gold and silver assay results. Mexivada's is negotiating with Coeur on how to best advance the Yécora project. Our current business plan is to find enough gold and silver resources through drilling at Yecora to warrant new mine construction. Mexivada also controls other exploration concessions in northern Mexico, for new gold, silver, and tellurium. These include the AuroTellurio project for gold, silver, tellurium, and base metals, located near Moctezuma, Sonora; and the high-grade Tamazula gold-silver-(lead-zinc) property, which is located west of Topia, Sinaloa (Great Panther mine) and east of the state capitol at Culiacan. Both Tamazula and AuroTellurio are easily accessible by paved and good dirt roads. NEVADA: Mexivada currently holds eight projects in Nevada, the home to many world-class gold, silver, and molybdenum deposits. Nevada companies are mining several giant, 10-20,000,000 ounce gold deposits, in the Carlin, Cortez-Eureka, and Round Mountain Trends. General Moly Inc. is now developing the world's largest molybdenum deposit at Mt. Hope, along the Nevada-Idaho Molybdenum Trend. Mexivada just announced good drilling results from its Moly Dome porphyry molybdenum-gold-silver-tellurium prospect, which is situated in northern Nevada within the main molybdenum belt and within the Carlin - Jerritt Canyon gold belts area. Mexivada recently completed an initial, 3-hole Phase 1 core drilling test at Moly Dome, which recovered wide intercepts of molybdenum mineralization and local high-grade silver-tellurium-gold mineralization. This Mo-Au-Ag-Te mineralization is exposed at the surface, along with "float rock" indications of local high-grade oxide copper mineralization. Certain rock chip samples taken at Moly Dome contained anomalous values of rhenium, a very rare and valuable by-product at certain molybdenum mines. Rhenium currently sells for US$10,500 per kilogram, and would be a very valuable by-product if found in recoverable amounts. In addition, the property holds potential for discovery of a Carlin-style gold deposit, with Carlin age volcanics and gold-mineralized feeder zones present on the property and Lower Plate limestones likely present at favourable depths, beneath gold-mineralized upper plate rocks of the Valmy Formation. Mexivada has signed a Letter of Intent for a joint venture with StoneShield Capital on its large-scale Jefferson gold-silver-indium-tellurium property, which is situated immediately east of Barrick/Kinross' 14 million ounce Round Mountain open pit gold mine on a major, regional gold feeder fault structure. Jefferson has substantial drill-indicated gold and silver resources that were delineated prior to the advent of NI 43-101, and it contains significant tellurium mineralization with the precious metals. A representative of First Solar (FSLR-NYSE) contacted Mexivada about its tellurium deposits at Jefferson. Mexivada also controls the nearby Ziggurat and Gold Junction gold properties, located just north of the Gold Hill Mine at Round Mountain. Mexivada also is now evaluating drilling options for its fully permitted Carlin-style sediment-hosted gold targets near Carlin at Poker Flats, located on strike adjacent to Newmont's Emigrant Springs project that is now undergoing mine development. Staccato Gold recently conducted drilling adjacent to our Poker Flats property. Mexivada also controls the Opal Spring gold-uranium-molybdenum prospect in northeastern Nevada, adjoining and on strike with the Prince Uranium Mine property controlled by Gold Reef International, who has bulldozed drilling pads for work there in summer 2008. Mexivada also controls the high-grade Goldstorm Midas-type gold silver property, which lies directly on the Northern Nevada Rifts and Carlin Trends northwest of the Midas Mine and due east of the Twin Creeks-Getchell mega mine complex of Barrick and Newmont. Goldstorm has had 40 shallow exploration holes drilled on certain parts of it by Romarco, Crown Resources, and Newmont (3 holes). Goldstorm has excellent gold-silver targets remaining on it, and has never been drilled at depth for Carlin-style mineralization, or deep enough to even adequately test for Midas-style gold-silver mineralization. Mexivada will conduct a ground gravity survey at Goldstorm in summer 2008. Mexivada also staked and holds mining claims along a gold-mineralized possible southern extension of the Cortez Trend in southern Nevada. | | | | |
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