Mexivada completes magnetic survey and delineates targets at Goldstorm property, Nevada

Mexivada completes magnetic survey and delineates targets at Goldstorm property, Nevada

Mexivada’s 3700 acre Goldstorm gold-silver property has been interpreted, through new ground magnetic and gravity surveys, to have several excellent target areas for Midas- and Carlin-style gold deposits. Outcropping, high-grade Midas-type gold-silver mineralization has been found on the property, and new Carlin-style gold exploration targets have been delineated. Goldstorm is located 18 kilometres (“km”) northeast of the giant, +40,000,000 ounce Twin Creeks – Getchell gold mine complex of Newmont and Barrick. Metallurgically compatible milling facilities also are present at Newmont’s Midas Mine, situated 18 km to the southeast of Goldstorm.

Magee Geophysics recently completed ground magnetics and gravity surveys at Goldstorm. These surveys, in conjunction with a substantial database of geological, geochemical and past drilling data, were interpreted for Mexivada by Wright Geophysics. Map data have been posted to Mexivada’s website. The surveys are interpreted to indicate west-northwest trending structural zones with uplifted, shallow Paleozoic basement rocks and adjoining intrusive rocks, with several areas that have never been tested for gold mineralization by drilling. Recent detailed field work also indicates a mostly untested north-northwest trending high-grade Midas type gold-silver system in the western part of the Goldstorm property. This latter zone assayed 9.0 grams per ton (“g/t”) gold and 43.9 g/t silver, across a surface trench width of 3 metres.

Mexivada interprets these data to indicate Goldstorm to be a highly favorable exploration area for Midas- and Carlin-style gold mineralization, close to established mining infrastructure. Mexivada continues to evaluate its large data package, and conduct field work to validate large-scale gold targets. Mexivada will begin permitting for drilling in 2009.

Mexivada Mining Corp. has changed its business model to include the search for fast track opportunities to engage in small-scale mining of gold and diamonds. Mexivada is evaluating several opportunities in countries that promote such mining ventures. The goal of the company is to generate cash flow from low-risk, low-cost mining ventures to augment its exploration budgets.


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