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| | |  Mexivada Mining Corp. owns 100% of 124 mining claims at its Gold Jackpot gold-silver-tellurium-lead-indium property in Elko County, Nevada, and has optioned the property to Lori Energy. The claims are along the newly defined Pequop Trend of gold deposits (see maps below), at the east edge of the Contact Mining District, 35 kilometres ("km") southeast of Jackpot and approximately 70 km due north of AuEx-Fronteer-Agnico Eagle's West Pequop/Long Canyon new gold discoveries. The Gold Jackpot claims lie south of Fronteer Development's Gollaher Au property. Gold values to 16 g/t Au have been found at Gold Jackpot. Structure-controlled sediment-hosted gold-silver-tellurium-lead-indium mineralization, with a large size "footprint" crops out at the surface along a plus 6 km length of the Gold Jackpot property. Multi-phase, multi-pulse precious metal gold-rich mineralization crops out in the Devil's Pass target area, where an unknown company was reported to have drilled two exploration holes in the early 1980s, encountering 1 or 2 drill intercepts of plus 12 metres long averaging approximately 0.05 ounce per ton gold (1.7 parts per million, "ppm") gold. Rock chip sampling north of the main exploration target at Gold Jackpot area by Dr. Criss Capps returned gold values of up to 1.28 ppm gold and local anomalous silver and arsenic values as well. Some of the highest grade tellurium exploration samples found in the USA to date (to 339 g/t Te) were sampled in our main target area. See the maps below for detailed sample locations and geology. The highest grade sample collected by Mexivada assayed 5.209 g/ton Gold, 339 g/ton Tellurium, an extremely rare (see www.jackliftonreport.com) High-Tech Photovoltaic metal used in FSLR's "green" solar panels, 239 g/ton Silver, 2% lead, 1046 ppm Copper, and anomalous indium (a high tech metal used in LCD chips). Mexivada's detailed geologic mapping and sampling has shown that this mineralization shows a significant, large-size footprint that could represent a multi-million ounce precious metal deposit at depth, and could represent the top of the precious metal mineral system. Gold at Gold Jackpot appears to be controlled by the intersection of northeast and northerly trending faults, very similar to the structural controls at Fronteer-AuEX's Long Canyon property, located 75 Km to the south (see maps below), but is related to a large, different type of metals source than Long Canyon. Possible analogs to Gold Jackpot are difficult to elucidate until drilling proof has occurred, but could include the large Emperor Au-Ag-Te Mine in Fiji; a possible odd variant of the Cripple Creek Au-Te mine in Colorado, or a large, copper-gold-tellurium bearing porphyry-related system such as the world class Lihir Mine gold-tellurium deposit in Vanuatu. The fault intersections area in the core of the Devil's Pass target area contains high-grade gold-silver-tellurium-(copper) mineralization and could represent the top of a diatreme/breccia pipe in the nearer-surface portion of a Porphyry - Epithermal transition/mixing zone above amettalized porphyry gold-copper system. Such metal systems, like at the Emperor Mine in Fiji, can yield gold resources in excess of 10,000,000 ounces in size. Mexivada considers the Gold Jackpot area to have excellent potential to yield a large-size multi-metal gold-rich deposit present at shallow depths. The rocks seen on the property to date are oxidized, so open pit, heap leach methodologies perhaps could be utilized if sufficient ore is found from exploration of the property. This unpopulated area has good access, does not have any apparent environmental problems, and sufficient room is present for large scale mine facilities and dumps/heaps. Most of the gold targets on the property have never been tested by drilling. Mexivada's consulting geologists will continue with detailed geologic mapping and sampling at Gold Jackpot, and will develop a drilling exploration strategy.
Maps & Photos
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