November 14, 2012 03:49 pm
New PR soon!
I will buy a few shares, good buy me think.
I think we can get to 10c. very fast.
Mexivada Mining Corp. has discovered at least two new zones of significant high-grade gold mineralization with local gold assay values up to 73.1 grams per tonne (g/t Au)
The Roger property is located adjoining the Grey Fox property (the Gibson and 147 zones of gold mineralization) owned by Brigus Gold at Matheson, Ont. Mexivada successfully completed its phase 1 four-hole NQ core drilling program on the property, drilling 1,669 metres of NQ wire line core at minus-45-degree angles. The company has to date logged approximately 80 per cent of the core, and approximately three quarters of the footage has been cut and sent to ALS Laboratories in Timmins for gold assaying. Due to erroneous small-sample-charge assays, a number of low assay results were received, despite the presence of visual gold mineralization in the core. For example, one sample from hole R12-1 assayed 0.207 gram per tonne gold by regular assay but 23.5 g/t gold using screen fire assay. Areas of the core showing visual gold mineralization are being reassayed using screen fire check assays for large particulate gold. Thus, extensive resampling and reassaying of the core, including the Chevron core, will be done. The true widths of the zones of gold mineralization are not yet known.
Chief executive officer Richard Redfern commented: "The results confirm the presence of new gold zones not previously discovered by Hollinger nor by Chevron, by systematic drilling. More drilling is required to block out mineral resources on the Roger property, using screen fire gold assays to better determine the gold grade where larger particles of gold exist."
Drill holes 1 and 3, while assaying is not yet completed, have to date returned local strong gold assay values, and at least two new zones of high-grade gold mineralization have been discovered in them, away from the gold zones discovered by Hollinger Consolidated Mines in 1933 and by Chevron Minerals in 1988 to 1989. Drill hole 4 is still being logged and sawed, and certain samples will be sent off for routine 50-gram-charge gold fire assays. The 50-gram gold fire assays yield more reliable results than do normal 30-gram-charge assays, due to the greater weight of rock assayed. Where observable visual gold mineralization is seen, the sample is sent to ALS for screen fire gold assays, which technique is designed to better catch larger gold particles present due to the nugget effect of gold in general, with a still larger sample size used. Mexivada will be relogging and resampling the Chevron drill core to re-examine the reported gold zones, and will report further on the core logging and assays as the phase 1 work program is completed.