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| | Fri Jul 16, 2010
Exploration Begins on Mexivada's Nevada Properties; Congo Gold Discovery Expands
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| | Nevada Exploration Begins: Summer exploration work has begun on Mexivada's Gold Jackpot, Ziggurat, Jefferson, and Goldstorm properties in Nevada. Mexivada's venture partners Trilogy Mining and West Kirkland Mining have begun their programs of office and field exploration on the Jefferson and Goldstorm properties. Mexivada is continuing its programs of geological mapping and sampling and geophysical investigations at Ziggurat, located just north of the +15,000,000 ounce Round Mountain gold mine in central Nevada. The exploration target at Ziggurat is a Rodeo-Goldstrike style Carlin-type gold deposit.
Exploration also has begun at Mexivada's Gold Jackpot gold-silver-tellurium property, located 70 Km north of Fronteer-AuEx's fast track Long Canyon gold mine development project. Recent field work at Gold Jackpot has located 3 previous drillholes, ostensibly drilled by Gold Fields in 1990, in a wide zone of imposed silicification and pyritic sulfidation. Gold values to 16 g/tonne have been sampled in this area by a major mining company, along with high-grade reported silver and tellurium values. Mexivada's goal here will be to drill test this high-grade zone at depth, after conducting a geophysical evaluation and deposit modeling tests this summer. Gold Jackpot is located in an unpopulated area, on BLM land. The exploration target here is for a multi-million ounce gold-tellurium enriched porphyry system, beneath the exposed surface cap of gold-silver-tellurium-lead mineralized limestone replacement rocks. Possible Emperor Mine-style sheeted quartz-gold-tellurium mineralization appears to be present below the mineralized cap, controlled by low-angle faults at Gold Jackpot. A porphyry system could be present at greater depth.
ROC Congo Moussondji Gold Discovery Expands: It has been reported that an additional 300 Malaysian artisanal miners are recovering gold at the surface on the 250 square km Moussondji Prospecting Permit area that Mexivada controls in the ROC Congo (Brazzaville). It also has just been reported that a Chinese geological team is now conducting reconnaissance exploration in this area. No Permis des Recherches have yet been issued for this area. Mexivada's Chief Consulting Geologist and Projects Chief, Prof. Dr. Noel Watha-Ndoudy, is studying this area for Mexivada.
Maps showing property geology and mineralization have been posted to Mexivada's website at www.mexivada.com. The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a non-independent 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 release.
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 info@mexivada.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"RICHARD R. REDFERN"
Richard R. Redfern
President
For further Information Contact:
Investor Relations
1 866 922-6774
778 737-7771
info@mexivada.com
info@lionsgateIR.com
www.mexivada.com
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 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.
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