Mexivada reports New Alluvial Gold Discovery at Mourindjoka, ROC Congo

Mexivada reports New Alluvial Gold Discovery at Mourindjoka, ROC Congo

Mexivada’s Chief Geologist in the ROC Congo, Dr. Noel Watha-Ndoudy, has reported the discovery of a new area of alluvial gold mineralization near Mourindjoka in the ROC Congo. Mexivada’s prospecting permits and gold and diamond concessions cover the bulk of the auriferous Mayoko greenstone belt in the ROC Congo. Mexivada has previously reported discoveries of alluvial diamonds made near Mourindjoka and nearby Mousondji.

Mexivada’s Director General in the ROC Congo, Adolphe Nguimbi, recently reported to Mexivada’s management that a “gold rush” had begun in the southwestern part of the company’s Malambani exclusive Permis de Recherches concession area, southwest of our Mayoko field office. Mr. Nguimbi reported that approximately 700 artisanal gold miners had flooded into a new area to recover a substantial amount of alluvial gold. Dr. Watha-Ndoudy followed up on this news and reported that miners near Mourindjoka were recovering alluvial and eluvial gold contained in banded iron formations (“BIF’s”) at the surface. Dr. Watha-Ndoudy noted that this new discovery represents the first confirmed western extension of the gold-enriched part of the Mayoko Greenstone Belt, to the west of the Louesse River, opening up a new geologic terrane for gold exploration. Mexivada has made several discoveries of gold in BIF’s nearby to the east of the Mourindjoka area, at Ngouaka-Mingassa-Bambounga. During the 1960′s, the Avoine Company reported the recovery of a 1 Kg gold-quartz vein chunk (“nugget”) at Bambounga, located 12 Km east-northeast of Mourindjoka.

Mexivada’s staff in the ROC Congo is now formulating the 2009 work program to explore and evaluate this new gold discovery as well as the 12 Km long area in between Bambounga and Mourindjoka. Mexivada feels that this area holds good potential for the discovery of large-scale bulk mineable gold deposits and is actively searching for a joint venture partner to help fund exploration of the Mayoko Gold Belt.

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