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MEXIVADA discovers Diatreme near High-grade Gold Mineralization at Goldstorm in Nevada; Project Updates
MEXIVADA discovers Diatreme near High-grade Gold Mineralization at Goldstorm in Nevada; Project U...
About this update from Grosvenor Resource Corporation
[{"type":"text","content":"\n\n\n\nSep. 21, 2009 (Canada NewsWire Group) -- VANCOUVER, Sept. 21 /CNW/ -- Mexivada has discovered a diatreme volcanic pipe intrusive body located near high-grade (39 g/tonne) gold-quartz float mineralization sampled at the surface on its wholly-owned Goldstorm property in Nevada. The Goldstorm property comprises 3700 acres located 18 kilometres (\"Km\") northeast of Newmont's giant, +20,000,000 oz. Twin Creeks gold mine and 18 Km northwest of its Midas gold-silver mine.Dioritic rocks in this young diatreme pipe body look similar to rocks at the Goldstrike mine of Barrick. Gold-bearing diatremes can be excellent, high-grade bulk-tonnage gold targets, such as are present as the giant Fruta del Norte gold deposit in Ecuador of Kinross-Aurelian.Although this new gold target has not been tested by drilling, it could be the source of the high-grade float at Goldstorm.Mexivada has a top geologist mapping and sampling the new discovery and hopes to report on the results within the next 30 days.ROC Republic of Congo Update - Gold: Mexivada signed the final Convention document with Hon. Mines Ministre Pierre OBA of the Republic of Congo on July 30 in Brazzaville, granting Mexivada title to its Permis de Recherches (\"PR\") concessions for gold and diamonds.Mexivada is evaluating its best area for surface mining potential, the 5 kilometre long Ngouaka gold zone, from which a 1 Kg gold-quartz vein slab \"nugget\" was mined prior to 1960. Mexivada has recovered gold at Ngouaka up to 8.8 g/m3 by pan concentrate sampling. A previous company investigated a start-up of alluvial gold mining at Ngouaka. Mexivada's goal is to generate fast cashflow from surface gold at Ngouaka, to help to pay for lode exploration of the property. Ngouaka holds good potential for discovery of an open pit and underground gold mine.Christopher Cherry appointed CFO: Christopher Cherry has been appointed Chief Financial Officer of Mexivada, replacing Stuart Rogers, who has resigned as an officer and director of Mexivada in order to focus on his duties as President of Max Resource Corp. Mr. Cherry is a Chartered Accountant and financial controller with iO Corporate Services Ltd., and is CFO of a number of other listed companies, including Max and Reva Resources Corp.The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qu...