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Jan 14, 2010: Mexivada Outlines New Gold Zone At Gold Jackpot Pr... (more...)

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TSX Venture Exchange: MNV

Mexivada Mining Corp. is a junior mining and exploration company, interested in securing Joint Venture partners, that went public on the TSX Venture Exchange in 2005, trading under the symbol "MNV." Mexivada controls gold-silver, diamond, tellurium, molybdenum and uranium prospects in Nevada, Mexico, and the "ROC" Republic of Congo (Brazzaville). Mexivada's team of experienced geologists and mining engineers has been associated with discoveries and mine developments worldwide. Management controls a large shareholding in Mexivada. We are committed to increasing shareholder value through mining, exploration discoveries and by Joint Ventures. If your company is interested in joint venturing any of our properties, please contact us atinfo@mexivada.com or by calling CEO Richard Redfern directly at (1-775) 934-4675.

Exploration and Small-Scale Mining for Cashflow: Mexivada explores for and acquires mineral properties that show potential to yield economically mineable, high grade deposits of precious and rare metals and diamonds. The company's principal focus is on finding properties with the geologic potential for "world class" deposits of 3- to 5,000,000 ounces of Gold or $1 billion of Diamonds, such as our Goldstorm, Nevada and ROC Congo gold and diamond projects. Recently, Mexivada changed its business plan to include the rapid development of small-scale mining projects for gold, diamonds, and rare metal deposits, where rapid cashflow may be earned. The company is evaluating several fast-track small-scale mining opportunities around the world, in business-friendly environments. Mexivada presently is evaluating its 100% controlled Ngouaka-Bangadi-Mingassa and Riviere Bambounga gold eluvial and placer systems for rapid start-up of simple gravity-recovery gold and lode gold mines in the ROC Congo (Brazzaville) on its 100% controlled Permis des Recherché exploration concessions, as an adjunct to lode gold and diamond exploration. Mexivada has two experienced mining engineers on its work staff.

NEVADA PROJECTS: Mexivada currently controls 7 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, Getchell-, Cortez-Eureka, and Round Mountain Trends.

Mexivada controls 148 lode mining claims (2,960 acres) and 800 acres of private land at its Goldstorm Au-Ag property in Elko County, Nevada. Goldstorm lies directly on the Northern Nevada Rifts Gold Trend and near the intersection of the Carlin and Getchell Gold Trends (+100,00,000 ounces of gold), northwest of the Midas Mine and northeast of the giant Twin Creeks-Getchell mega gold mine complex of Barrick and Newmont Mining. Goldstorm has had 51 exploration holes for Midas-style gold deposits drilled on certain parts of it by Touchstone, Romarco, Crown Resources, and Newmont (3 holes), and a "new" mafic intrusive and breccia (diatreme or gabbro breccia?) was just located, near high-grade (39 g/t) gold mineralization at the surface. Goldstorm also has excellent untested, large-scale Carlin-style gold-silver gold targets along a 7 kilometre long uplifted "horst" that may have brought mineralization and Paleozoic target rocks to within 600 feet of the ground surface; excellent targets that have never been drill tested and Mexivada has started a soil sampling test program here along possible gold feeder faults. We have scheduled an Induced Polarization survey for late October to further test these hypotheses.  This property has potential for a +5,000,000 ounce gold mine, using a Leeville Mine-type Carlin--style gold deposit model. Metallurgically compatible milling facilities are present at Newmont's Midas Mine, situated 18 km to the southeast of Goldstorm, and at Twin Creeks. Mexivada is looking for a Joint Venture partner for Goldstorm.

Mexivada Mining Corp. staked 66 mining claims at its Gold Jackpot property in Elko County, Nevada.  The claims are on the east edge of the Contact Mining District, 30 kilometres ("km") southeast of Jackpot and approximately 90 km due north of AuEx-Fronteer-Agnico Eagle's Pequop/Long Canyon new gold discoveries. The Gold Jackpot claims lie east of Mexivada's Opal Spring uranium-molybdenum-gold property.  Sediment-hosted gold mineralization crops out along a plus 3 km length of the Gold Jackpot property. Possible Carlin-style gold mineralization crops out in the Devil's Pass target area, where Gold Fields was reported to have drilled two exploration holes in the early 1980s, encountering a drill intercept of plus 12 metres long averaging approximately 1.5 parts per  million ("ppm") gold. Rock chip sampling in the Gold Jackpot area by Dr. Criss Capps returned gold values of up to 1.282 ppm gold and local anomalous silver and arsenic values as well.  Mexivada considers the Gold Jackpot area to have excellent potential to yield a large-size gold 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 begin detailed geologic mapping and sampling at Gold Jackpot immediately and develop a drilling exploration strategy.

Mexivada is searching for a Joint Venture partner for drilling on its large-scale Jefferson gold- silver-tellurium-indium property, which is situated immediately east of Barrick/Kinross' 15 million ounce Round Mountain open pit gold mine along 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 and locally anomalous indium with the precious metals. A representative of First Solar (FSLR-NYSE) contacted Mexivada about its tellurium mineralization at Jefferson.

Mexivada is searching for a Joint Venture partner for drilling at its Ziggurat Carlin-style gold prospect (500 acres), situated within the Round Mountain-Northumberland Gold Trend, north of Barrick-Kinross' 14,000,000 ounce Round Mountain and its +1,000,000 ounce Gold Hill gold mines, and just south of Fronteer Development's large, +3,00,000 ounce Northumberland Mine gold mine. Mexivada recently completed geochemical and geophysical surveys at Ziggurat, and the property is ready for JV and drilling. Ziggurat holds good potential for discovery of a large Rodeo Mine sub-type, Carlin-style gold deposit, with gold mineralized Upper Plate rocks present at the surface on the property and Lower Plate limestones perhaps present at favourable depths. The most favorable parts of this property have never been drilled, and 2 gram per tonne gold-bearing rocks crop out just northeast of the drill targets, along a major regional feeder zone. Fronteer Development been conducting exploration drilling, just north of the Ziggurat claims boundary in its Hilltop target area!

Mexivada also is searching for a Joint Venture partner for drilling its Carlin-style Poker Flats Au Carlin-style sediment-hosted gold project (500 acres) near Carlin, located on strike adjacent to Newmont's Emigrant Springs project that is now undergoing mine development. Drill targets at Poker Flats have already been selected and prioritized, and are ready for drilling.

Mexivada controls the Moly Dome porphyry/Cripple Creek style (?) Tellurium - gold-silver-molybdenum prospect, situated within the Nevada-Idaho Molybdenum Trend, east of the possibly similar Ashdown Mine near Denio. Mexivada completed an initial, 3-hole Phase 1 core drilling test at Moly Dome, which recovered wide intercepts of moly mineralization and local high-grade silver-tellurium-gold mineralization associated with carbonate veining that could indicate a hidden Cripple Creek style gold-tellurium system. This Mo-Au-Ag-Te mineralization is exposed at the surface, along with "float rock" indications of anomalous rhenium mineralization. In addition, the property holds potential for discovery of a Carlin-style gold deposit, with Carlin age (40 Ma) 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 controls the Opal Spring Carlin-style (?) gold prospect in northeastern Nevada, which also shows outcropping uranium-molybdenum adjoining and on strike with the Prince Uranium Mine property controlled by Gold Reef International. Mexivada is searching for a Joint Venture partner for the projects area. GoldFields Mining Corp. drilled holes on an adjoining target area in the 1980s, finding gold mineralization at the surface, and drilled rotary exploration drillholes reported to contain local 5 g/t gold assay values.

MEXICO PROJECTS: Mexivada is searching for a Joint Venture partner for its 2 gold- silver and tellurium projects in northern Mexico. The advanced-stage 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 on-trend Palmarejo silver-gold property, controls exploration concessions at Yecora located inside of and surrounding Mexivada's 1041 hectare property, but has yet to do significant work on them. Mexivada has completed Phase 1 core drilling at Yécora, which yielded good gold and silver assay results. Mexivada wishes to Joint Venture the Yécora project, and is open to proposals from qualified third parties on how to best advance it. Mexivada also controls other exploration concessions in northern Mexico, for gold, silver, and tellurium. We are searching for JV partners on these properties also. 

Our AuroTellurio project for gold, silver, and Tellurium is located near Moctezuma, Sonora, northeast of Hermosillo, Sonora. This property was staked to surround a new tellurium-gold mine reportedly under mine construction by World Industrial Minerals, an offshoot of First Solar Corporation (FSLR: NYSE). Mine personnel sinking a shaft there (Mina La Bambolla) told Mexivada geologists that tellurium values of up to 4 kg/ton were found there. Tellurium is a critical, rare metal component in First Solar's solar panels, selling for up to $300-$500/kg in 2008. Gold values of 4 g/ton and silver values of 5 g/ton were reported in the old sampling of the Bambolla Mine by SGM, the geological survey of Mexico. Mexivada controls lateral extensions of the main Bambolla vein system, and also controls 100% of the outcropping La Viuda Au-Ag vein system that lies parallel to the Bambolla system, in a down-thrown fault block on the south flank of the uplifted and eroded Bambolla Mine block. La Viuda possibly may contain a tellurium zone at depth, similar to Bambolla, and no drillholes are believed to have been drilled anywhere in the La Viuda area. Mexivada wishes to find a JV partner for its AuroTellurio property.

"ROC" REPUBLIC OF CONGO (BRAZZAVILLE): Mexivada signed a Convention document with Hon. Mines Ministre Pierre OBA of the government of the Republic of Congo on August 30, 2009 in Brazzaville, granting title to the Permis de Recherches ("PR") concessions granted to Mexivada by the Government. Mexivada is proceeding with detailed exploration of its PRs while searching for a substantial financing or Joint Venture Partner to further explore and mine its large, exclusively-held gold and diamond concessions in the ROC. The main target for surface gold mining evaluations drilling is the 5 kilometre long Ngouaka-Bangadi-Bambougna gold zone, from which a 1 Kg gold-quartz vein slab "nugget" was mined prior to 1960. 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 now controls four Phase 1 prospecting permits covering 9,156 square kilometres, and five exclusive, Phase 2 "PRs" 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. 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. Recently, a new "gold rush" has begun adjoining our Malambani concession where up to 1,500 artisanal miners are exploiting a placer gold deposit near Mousondji. Mexivada is applying for a PR covering the Mousondji area.

Gold: Mexivada's focus in ROC is on the discovery of large-scale, plus 1,000,000 ounce lode gold deposits, in addition to evaluating the known, substantial, high-grade placer gold deposits on site. Placer gold mining operations could be started up in relatively short order, with some deposits containing large gold nuggets and grades of up to 8.8 grams per cubic meter of coarse particulate (panned) gold. Mexivada is exploring three 14 to +21 km long gold belts at Mayoko. At least four types of Archean lode gold deposits currently are recognized by Mexivada in the greenstone belt sequence at Malambani, including 1) Intrusive-related Disseminated gold-bismuth enriched zones at Ngouaka - Mingassa, FMI and Tsopo could represent open pittable targets of "Fort Knox"-type gold ); 2) Shear Zone hosted gold-quartz-(sulfide) veins along fault / formation contacts, such as at Bambounga, where a 1 kilogram gold-quartz vein slab "nugget" was mined; 3) 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; and 4)Metaconglomerate-hosted gold and diamond mineralization was reported by Russian investigators to occur near Mayoko. 

Diamonds: Mexivada has discovered alluvial diamonds in several places on its concessions, including, 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 two white diamonds found, including a nice 1 carat stone, and apparent kimberlite-associated chromite, 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. Mexivada also recently discovered macro diamonds 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, and a 3.5 mm white gem quality diamond at Bouawsa. Mexivada would like to find a joint venture partner to evaluate the diamond potential of its properties.

Several diamond-bearing target areas are present in our Bitsandou permit area, located south of Malambani, including Carrefour, Bikelele, Mahouta, and Mpoukou, where prospectors reported that alluvial diamonds up to 4 carats in size were recovered. Unsuccessful initial excavator testing was conducted at Bikelele in 2007. Historically, a 4500 carat alluvial diamond resource was outlined by Russian work in the late 1960's near Bikelele, and 17,000 carats of alluvial diamonds were mined after World War II by SOREDIA from the nearby Nzambi 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.