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Mexivada finds placer gold nugget at Mbandza

2008-06-11 16:31 ET - News Release

Mr. Richard Redfern reports

MEXIVADA FINDS 1.5 BY 8 MM NUGGET AT MBANDZA GOLD DISCOVERY, ROC CONGO

Mexivada Mining Corp. has discovered the strongest alteration and gold mineralization found to date at Mbandza on its exclusive Malambani concession in the Mayoko greenstone belt in the Republic of Congo (ROC)

The gold mineralization at Mbandza comprises pyrite and quartz-pyrite-(epidote) bands in altered and silicified amphibolites, banded iron formation (BIF), and granodiorite sills. Strong accumulations of locally derived placer gold with very large grain sizes are present here, with one recovered nugget being 1.5 millimetres (mm) by eight mm in size. A cobble of BIF found here contained a plus-two-centimetre (cm) zone of 25 per cent pyrite and 25 per cent vein quartz. This Mbandza zone will be unearthed by trenching and then channel sampled for gold assays. It appears to correlate stratigraphically with the Kouchala gold-bearing BIF zone located 1.25 kilometres (km) to the southwest. A second major band of gold-mineralized BIFs and amphibolites, situated 400 metres (m) to the south, is the Lemagna-Mifoulou-Tsopo belt, which is 200 m wide, at least 1.3 km in length and both belts are open along strike to the east and west. This area appears to have significant gold potential. Detailed sampling work is scheduled here for June and July.

Gold reconnaissance exploration also has been started in the Lepindzi gold-diamond target area, on the southwestern margin of the known North gold belt at Mayoko, eight km southwest of Lemagna. Substantial alluvial gold was recovered from this area by hydraulicking by the Avoine Co. after World War II. Three gold-bearing areas were found by Mexivada in the initial reconnaissance here in May, 2008, along an 800-metre length. The mineralization found was principally pyritic disseminations and quartz-pyrite-(epidote) veining in BIFs and amphibolites. Additional gold sampling work will be conducted here in June, as well as some alluvial test sampling for diamonds at structural intersections in the area. A new, motorized, alluvial gold-diamond-garnet concentration device has been delivered to the Mexivada field office at Mayoko, and is being used to speed up sample processing on-site.

This news 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.

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