Mexivada Appoints VP-Exploration and Updates Progress at Timmins, Ontario Gold Project
09 August 2011 - 3:45PM
Marketwired
Mexivada Mining Corp. (TSX VENTURE: MNV)(OTCBB: MXVDF)(FRANKFURT:
M2Q) is pleased to announce appointment of A. David Heyl to the
position of Vice President-Exploration. With over 25 years of
field- and upper management experience, Mr. Heyl has a solid
geological background in generating and conducting exploration and
mining programs for gold, rare earth metals, and base metals,
resulting in several discoveries. Dave worked for Barrick Gold in
Peru, was the exploration manager for Southern Peru Copper, and
spent six years working in and supervising underground and open pit
mining operations in the U.S.A. and in South America, often making
major changes in reserves and productivity. He also has held
geological and management staff positions with Colombia Gold Plc,
Oroperu Resources, Monterrico Mining, Minera Remedios, Sacre Coeur,
and spent six years working in and supervising underground and open
pit mining operations in the USA and extensively in South America,
often making major changes in reserves and productivity. He has
worked extensively in Nevada, with Galli Exploration, Alta Gold,
Battle Mountain Gold, and Copper Range Exploration at Round
Mountain. Mr. Heyl holds a B.Sc. in geology from Fort Lewis College
in Colorado, and was a licensed investment executive at Wedbush
Securities in Colorado. He is an AIPG Certified Professional
Geologist and is a Qualified Person as defined under National
Instrument 43-101. This appointment reflects the strengthening of
the Mexivada team as the company continues to aggressively seek and
acquire high quality gold, rare earth and rare metal properties.
Golden Porcupine, Timmins, Ontario: Mexivada has been conducting
data compilation of government and private company records, and has
been conducting follow-up detailed mapping and sampling on its
Golden Porcupine project at Timmins, Ontario, under the direction
of Messrs. Heyl and Redfern. Several new drilling targets have been
delineated, including an area in the southeastern part of the
property, where high-grade gold assay values were reported on an
assay plan dated 1911. The results of a new enzyme leach
geochemical survey of B-horizon soils in this southeastern part of
the Golden Porcupine property were analyzed by Mr. Heyl, and show
anomalous areas of gold, arsenic, antimony and molybdenum,
suggesting intrusive related gold in this part of the property. The
new Mexivada assay results are expected shortly, including a
re-assaying for fire assay gold of these enzyme leach soil samples.
A program of mechanized surface outcrop stripping, followed by more
mapping and sampling, will begin soon on the property, to be
followed up by core drilling in the area this fall.
Mexivada has granted options to Mr. Heyl and management for the
purchase of 550,000 shares at an exercise price of $0.10 per share
for a five year period, effective as of today's date, pursuant to
its stock option plan.
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. Map updates are posted to Mexivada's
website at www.mexivada.com.
About Mexivada Mining Corp.:
Mexivada is a diversified Canadian mineral exploration company
focused on identifying, acquiring, advancing, mining, and joint
venturing prospective Gold-Silver, Tellurium, Diamond, and Rare
Metal exploration projects in Mexico, Nevada, Canada, and Africa.
Mexivada is managed by experienced and successful board members and
advisors. For further information, including area maps, sections,
and photos, please visit our web site at www.mexivada.com or
contact us by e-mail at info@mexivada.com.
ON BEHALF OF THE MEXIVADA BOARD OF DIRECTORS
Richard R. Redfern, President
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 and assay results, future
exploration work, and the anticipated 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 and access
agreements 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.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy of this
release.
Contacts: Mexivada Mining Corp. Investor Relations 604.568.7726
or 1-866-922-6774 info@mexivada.com / support@mexivada.com
www.mexivada.com
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