Mexivada and Zamarat Recommence Gold Exploration Program in Republic of Congo
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/18/11 -- Mexivada Mining Corp. (TSX VENTURE: MNV)(OTCBB: MXVDF)(FRANKFURT: M2Q) is pleased to announce that its optionee partner Zamarat Mining Ltd. has recommenced the 2011 gold exploration program on the Malambani gold and diamond research permit in the Mayoko greenstone belt in the Republic of Congo ('ROC'). The current work program includes further delineation and proving up of alluvial gold resources, and renewed exploration on iron formation hosted gold targets in the belt. The team is striving for the opening of an alluvial gold mine at Malambani in 2011.
Projects Update:
Gold Jackpot Project: Mexivada has been designing a geophysical program for Gold Jackpot, in cooperation with Wright Geophysics, of ground gravity and magnetics and IP/CSAMT to further evaluate the Stag's Leap and North Ridge gold-silver-tellurium-copper target areas for Emperor Mine (Vatakuolo)-style epithermal gold deposits, for Carlin-style gold, and for a buried copper-gold porphyry system. This program will be conducted this spring, after snowmelt in the area. A drilling program will be designed upon interpretation of the geophysical data. Rock samples containing high-grade gold (to 16 g/t Au) as well as tellurium to 3.47 Kg/t Te (solar panel thin-film technology) have been found at the ground surface at Gold Jackpot.
Poker Flats Project: Mexivada and Spartan Gold Ltd. have staked an additional 67 lode mining claims, for a total of 92 claims, extending the property both northward and southward, so that it now directly borders the property of Gold Standard Ventures on the west and Newmont on the north.
Mexico Update: Mexivada has begun a new program of gold exploration in Sonora, Mexico, searching for shear zone hosted orogenic gold deposits along the new Mojave-Sonora Megashear Gold Trend, and for large-scale copper-gold deposits in favorable portions of Sonora that would be attractive for option to large mining companies in Mexico.
Ontario, Canada Update: Mexivada has received a package of scanned-in historical data from the area containing our Golden Porcupine gold prospect, which is situated in the central heart of the plus 60 million ounce Timmins mining camp. We will analyze this data and begin field work on the property after snowmelt this spring, with a goal of drilling this summer.
ON BEHALF OF THE BOARD OF DIRECTORS
RICHARD R. REDFERN, President
This news release includes certain 'forward looking statements'. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause Mexivada's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability, and the uncertainty of access to additional capital.
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Contacts:
Mexivada Mining Corp.
Investor Relations
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