Mexivada discovers 3.5 mm white diamond at Bouawsa

2008-05-20 08:58 ET - News Release

Mr. Richard Redfern reports

MEXIVADA MAKES NEW DISCOVERIES AT BOUAWSA AND LEPINDZI GOLD TARGET AREAS IN ROC REPUBLIC OF CONGO

Mexivada Mining Corp.'s diamond specialist in the ROC Republic of Congo, Siva Sankar, a project geologist formerly with De Beers, has discovered a 3.5-millimetre white diamond in a stream sediment sample at Bouawsa, located 1.3 kilometres east of the company's recent Madoka diamond discovery. Mexivada has started its program of diamond exploration grid sampling of the Lepandza-Makoubi-Madoka-Bouawsa corridor, which is nine by 12 kilometres in size, for kimberlitic pipes. Large gem-quality diamonds to 22 millimetres in size also have been recovered along several fault-controlled east-northeast-trending creeks in the central and western parts of Mexivada's Malambani concession. These diamonds may be related, in part, to kimberlitic dikes or pipes emplaced in and near these fault structures. Blue and green diamonds are extremely valuable when of gem quality, and are found in only a few places in the world. Such bluish and greenish diamonds have been found on Mexivada's concessions at Madoka and Bikelele, and a seven mm blue-yellow diamond was reported here at Leyou by the Russians in the 1960s.

Mexivada's chief geological consultant, Edward Wells, CPG, has arrived in Mayoko and has reported the discovery of a new, fault-controlled, iron-stained quartz-sulphide mineral zone at Lepindzi, in the western portion of the Mayoko greenstone belt. Banded iron formations and amphibolites are exposed in the Lepindzi and HMC target areas along a strike length of seven kilometres, and the four km long Lepindzi portion is surrounded by strong gold placers. Mr. Wells also will conduct a detailed analysis of the Bilala-Bambounga target areas in the southwestern part of the Malambani concession. A quartz-encrusted, one-kilogram gold vein "nugget" was mined by the Avoine Company after World War II from a four-metre-deep clay pit in the Bambounga area, which has never been mapped in detail or drilled. A major gold-quartz vein system could be present here. New maps of Mexivada's diamond and gold target area geology have been posted to the company's website.

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.

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