VANCOUVER, Dec. 24 /PRNewswire-FirstCall/ -- Mexivada Mining Corp. is pleased to report the completion of seven core drill holes in 2007 at its La Republica silver-gold-zinc-lead property, Yecora District, Chihuahua, Mexico. The drilling program is scheduled to resume on January 8. Certain attractive target areas on the property still remain to be tested, including Polverine, where Mexivada's channel sample of the La Republica vein across a 2 metre true width assayed 1,230 g/t silver, 0.88% zinc, 0.31% lead, and 0.2 g/t gold, and much of the area between the Republica main shaft and Polverine.
The results of the seven drillholes are listed below. Interpretation of these data is in progress, and will be discussed further when the remaining holes have been drilled starting in January. Only the central part of the property has been drilled with these initial, Phase 1 test holes. Vein widths of up to 6 metres were encountered in the deeper holes drilled by Mexivada. Additional silver-gold-zinc-lead targets may exist deeper in the footwall at La Republica, where up to 21 foot widths were encountered by the early miners, and tests of this concept will be made in the January drilling program. An existing 400 foot deep vertical shaft and connecting drifts at La Republica could be used to gain relatively rapid access to any mineralization delineated. La Republica is situated 12 kilometres south of the Yecora gold-silver property, which is controlled by Mexivada and Coeur d'Alene Mines Corporation.
------------------------------------------------------------------------- Hole Target Area From To Length Au Ag # (m) (m) (m) (g/t) (g/t) ------------------------------------------------------------------------- LR07-1 Bill 165 167 2.0 0.07 101.3 including 165 166 1.0 0.05 159.0 ------------------------------------------------------------------------- LR07-2 Bill-North 176 178 2.0 0.14 260.3 ------------------------------------------------------------------------- LR07-3 Far North 172.5 177 4.5 0.11 13.6 including 176 177 1.0 0.31 19.0 ------------------------------------------------------------------------- LR07-4 South Drive 178 179 1.0 0.02 96.0 ------------------------------------------------------------------------- LR07-5 Main-Central 181 182.5 1.5 0.02 446.7 including 181.5 182 0.5 0.03 1085.0 ------------------------------------------------------------------------- LR07-6 Main-Northern 179.5 181.5 2.0 0.14 775.5 including 180.5 181 0.5 0.01 1960.0 ------------------------------------------------------------------------- LR07-7 Los Alisos South 47.5 48.0 0.5 0.58 85.0 ------------------------------------------------------------------------- Notes: (m) = Metres. Length is reported in metres of drilled core and is not necessarily the "true" width. Au and Ag g/t: Gold and silver grades are reported in units of grams per tonne gold and silver.
The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. The drill core is sawn in half with half of the core samples shipped to ALS Chemex Laboratory Services in Hermosillo, Sonora, Mexico for sample preparation and analysis. The other half of the core is retained in secure custody at the Mexivada office in Yecora for future assay verification. The company QA/QC policy includes the chain of custody monitoring, insertion of blanks, standards and duplicates in the initial samples submitted. The laboratory provides an additional internal control program.
This press 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.
About Mexivada Mining Corp. ---------------------------
Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, and joint venturing high-grade Gold-Silver, Molybdenum, Diamond, and Rare Metal exploration projects in Mexico, Nevada, and the ROC Republic of Congo. Managed by experienced and successful board members and advisors, Mexivada is well financed with no debt. For further information, including area maps, sections, and photos, please visit our web site at http://www.mexivada.com/ or contact us by e-mail at
ON BEHALF OF THE BOARD OF DIRECTORS "RICHARD R. REDFERN" Richard R. Redfern President The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 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 assay results, future exploration work, and the expected 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 and diamond 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 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.
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