New Gold Zone At Gold Jackpot Property

 

VANCOUVER, BC - Mexivada has outlined a significant new zone of gold mineralization at the surface in the northern part of its 2060 acre Gold Jackpot sediment-hosted gold-silver-tellurium property, located 70 Km due north of Fronteer Development's/AuEx's Long Canyon gold discovery. Surface samples in the northern extension area have assayed up to 1.2 grams per tonne gold.

 

Gold Jackpot contains widespread and extensive, locally high-grade gold-enriched polymetallic mineralization throughout an area of 2 square kilometres in the central core area and discontinuously over approximately a 6 km length. Gold mineralization is closely associated with tellurium and silver. Mexivada has staked an additional 37 lode mining claims to cover this northern extension area.

A 650 by 150 metre central core area at Gold Jackpot is the locus of the highest grade mineralization, including samples OS-102 that assayed 4.48 g/t gold, 338.9 g/t tellurium, 239.7 g/t silver, 2.4% lead, and 15 g/t indium; and sample OS-55 with 2.21 g/t gold, 263.5 g/t tellurium, 91.6 g/t silver, 1.1% lead, and 41 g/t indium. Gold shows are common in the extensively silicified rock package and in silicified breccias. Coxcomb quartz veins are present in Upper Plate siliciclastic rocks. Decalcification of carbonates ("sanding", like in Carlin-style gold deposits) is common in the core area, surrounding silicified zones, with dolomitization in the outer fringes. Late, high-grade uranium mineralization cuts the sanded limestones 1.8 Km southwest of the core area, along the margin of the Opal Spring volcanic dome complex.

The companys address is #1018 - 475 Howe Street, Vancouver, BC V6C 2B3, (778) 737-7771, fax: (775) 738-6705, email: [email protected].