Mexivada Drills 3.8 m of 12.82 g/t Gold at Roger Property, Matheson, Ontario-Update Report
November 15 2012 - 8:15AM
Marketwired Canada
Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) ("Mexivada"
or the "company") is pleased to report additional significant results from
screen fire gold assaying of core from hole R12-1, drilled in September 2012
from its Roger property, located near Brigus Gold's Black Fox and 147 Zone gold
deposits near Matheson, Ontario.
The core from hole R12-4 also now has been logged, revealing at least 2 zones of
significant quartz-pyrite veining and associated alteration nearby, most
prominent between 279 and 295 m core length. The most highly mineralized core
from Hole R12-4 has been sawed and sent off for rush assaying. New drill maps
have been posted to Mexivada's website
The uncut assay results from the drill hole are summarized below:
----------------------------------------------------------------------------
Screen
Interval 50g FA Fire Au Comments
----------------------------------------------------------------------------
From To uncut Gold
----------------------------------------------------------------------------
Hole_ID (m) (m) (m) g/t Au g/t Au
----------------------------------------------------------------------------
R12-1 303.5 304.6 1.1 0.05 0.05
----------------------------------------------------------------------------
304.6 305.6 1.0 10.4 13.05
----------------------------------------------------------------------------
305.6 306.6 1.0 0.068 0.07 Visibly
mineralized
----------------------------------------------------------------------------
306.6 307.6 1.0 11.0 14.75
----------------------------------------------------------------------------
307.6 308.4 0.8 0.207 23.5 3.8m @12.82 g/t
----------------------------------------------------------------------------
308.4 309.4 1.0 0.09 less than 0.05
----------------------------------------------------------------------------
309.4 310.4 1.0 0.124 less than 0.05
----------------------------------------------------------------------------
310.4 310.9 0.5 Not run 0.48 Visibly highly
mineralized
----------------------------------------------------------------------------
310.9 311.9 1.0 0.006 0.055
----------------------------------------------------------------------------
The Roger property is located 400 metres southwest and 750 metres south of
Brigus Gold's 147 and Gibson gold zones, respectively. The Roger property also
is adjoined on the east side by property controlled by St. Andrew Goldfields
Ltd., which appears to contain a southern extension of the 147 Zone. The Roger
project is being managed on-site by Mexivada's geologist, Kimberley Norman,
P.Geo. Mexivada has the option to earn up to 60% working interest in the Roger
property from Romios Gold Resources Inc. (see Press Release dated January 11,
2012).
The Company's President and CEO, Richard R. Redfern, M.Sc., a Certified
professional Geologist and 'qualified person' for the purposes on National
Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified
and approved the information contained in this news release.
About Mexivada Mining Corp.
Mexivada is a diversified Canadian mineral exploration company focused on
identifying, acquiring, advancing, drilling, and joint venturing high-grade
Gold-Silver and Rare Metal exploration projects in Nevada, Canada, and Mexico.
Mexivada is managed by experienced and successful board members and advisors.
For further information, with maps and sections for Mexivada's properties,
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 & CEO
Mexivada Mining Corp.
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 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mexivada Mining Corp.
Investor Relations
1-604-568-7726 or 1-866-922-6774
info@mexivada.com
www.mexivada.com
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