Mexivada Discovers New Clorinda Zone of Mineralization South of Dome Mine at Timmins, Ontario
October 17 2011 - 9:35AM
Marketwired
Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q)
is pleased to report that it has discovered a significant new zone
of quartz-ankerite veining mineralization on its Golden Porcupine
property, along the Deloro Fault zone sector, just south of the
Dome-Aunor-Delnite mines complex of Goldcorp and other local
companies at Timmins, Ontario. New trenching has exposed new
outcrops with a zone of quartz veining, presently known to be up to
6 metres in width, as shown on a photograph on Mexivada's website
at www.mexivada.com. Metallic mineralization is found in outcrop,
including fine-grained pyrite in massive to banded vein quartz. The
lateral extent of this system of veining is interpreted to be at
least 650 metres in strike length, where it may have been
intersected in Mexivada's latest drillhole GP11-6, and may be over
1 kilometre in length. Mexivada is further exposing the outcrop
zone, and is mapping and sampling it. This target will be drilled
upon completion of this mapping program.
Mexivada is continuing its core drilling program at Golden
Porcupine. Mexivada has set up work and storage facilities in
Timmins, where core logging and sawing is taking place. More
results of the Golden Porcupine work program will be reported on a
regular basis.
Mexivada also is conducting work in the Matheson area in Hislop
Township, near the Ross Mine, which will be further reported upon
shortly. A second drill rig may be contracted for work in this area
by the end of October. Mexivada is using flow-through cash funds in
Mexivada's treasury to fund a plus 5,000 metre drilling program in
Ontario in 2011.
The Company's President and CEO, Richard R. Redfern, M.Sc. and
Certified Professional Geologist, a 'qualified person' for the
purposes on National Instrument 43-101 Standards of Disclosure for
Mineral Properties, has examined and studied the Dome, Delnite, and
Pamour mines, verified the information herein, 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, Canada, 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, President
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.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy of this
release.
Contacts: Mexivada Mining Corp. Investor Relations
1-604-568-7726 or
1-866-922-6774info@mexivada.comwww.mexivada.com
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