Mexivada Discovers Probable Source of Malambani Alluvial Gold, Mayoko Project, Republic of Congo
VANCOUVER, March 19 /PRNewswire-FirstCall/ — Mexivada Mining Corp. is pleased to announce that continued field work in the Malambani project area, near Mayoko in the Republic of Congo (“ROC”), has led to the discovery of outcropping quartz-gold mineralization across a 1.5 kilometre length of an east-northeast trending master fault along the Bilala River, where it was reported that large gold nuggets of 70 grams to 1 kilogram in weight were alluvial-mined in the past. The Avoine Company mined 33,000 ounces of alluvial gold and several large gem quality diamonds (to 22 millimetres in diameter) from this area after World War 2. Fault zones of similar age and orientation controlled the emplacement of diamond pipes in Angola and in the Mbuji-Mayi diamond mining region of the adjoining Kasai province in the DRC Congo. Mbuji-Mayi is the world’s largest diamond deposit.
The Bilala River gold zone is 2.5 by 4.5 kilometres in size, and is located 7 to 10 kilometers southwest of the gold zone in banded iron formation at Lemagna, described in Mexivada’s press release dated March 7, 2007. Gold-quartz veining has now been found in scattered outcrops in and along the Bilala and Babounga Rivers, along at least a 1.5 km length of the poorly exposed, east-northeast trending Bilala fault system. The gold appears to be associated with 2 to 5 cm wide quartz-gold veinlets in the fault system, cutting amphibolite, quartzite and more iron-rich metasediments. The width of the fault system(s) has not yet been determined due to the sparse outcrops along the river channels. Local prospectors report that gold nuggets weighing up to 70 grams previously were found near the gold-bearing outcrops studied by the Mexivada field teams, suggesting that these fault zones were the source of the large nuggets found previously. Samples have been collected for assay and microscope analysis, which will be reported upon soon by Mexivada.
Mexivada also is evaluating several river channels for alluvial gold concentrations at Mayoko. A 3.5 kilometre long stretch of the Bilala-Babounga River system, which is approximately 100 metres wide, contains gravels that are reported to contain unrecovered mineable gold. Pitting of these gravels by local “orpailleur” miners suggests the local presence of gravels that carry up to 3 grams per cubic metre of gold. One gold-rich area at Kongodou was sampled by Mexivada personnel, who recovered 1 gram of alluvial gold from 4 litres of river alluvium in a pit. Outcrops of gold-bearing metasedimentary rocks were found to occur over a significant area near this pit. These locations are being posted to a map on the Mexivada website.
In 2007 to date, the Mexivada field teams have cut more than 181 kilometers of sampling lines across the trend of the Mayoko greenstone belt, on which greater than 462 soil samples and greater than 176 stream sediment samples have been collected at Malambani, in search of both gold- and primary diamond deposits. Three places have been found recently where alluvial concentrations of blue, pink and black corundum, spinel (?), platy ilmenite, and possible pyrope or rhodolite garnets have been found. The stream sediment samples are being analyzed for gold, diamonds, and kimberlite indicator minerals, and the soil samples are being analyzed for metals and diamonds through fire assays and Mobile Metal Ion (“MMI”) geochemistry.
No mineral resources, as defined by C.I.M. or other organizations, have been defined by Mexivada for any of its target areas in the Malambani permits area. The historic information provided is for reference only and the reader should not infer or assert that the information is correct, reliable, relevant or accurate and should not be relied upon.
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 Canadian mineral exploration company focused on identifying, acquiring, advancing, and joint venturing high-grade Gold-Silver, Diamond, and Rare Metal exploration projects in Mexico, Nevada, and the Republic of Congo. For further information, including area maps and photos, please visit our web site at http://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 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 assay results, future exploration work, and the expected 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 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.
CONTACT: LionsGate Communication Corp., Telephone: (866) 922-6774, or (604) 866-7700, info@mexivada.com, http://www.mexivada.com/
Mexivada Mining Corp.
CONTACT: LionsGate Communication Corp., Telephone: (866) 922-6774, or(604) 866-7700, info@mexivada.com, http://www.mexivada.com/