Mexivada Mining (MNV-V) has staked and filed 51 new lode mining claims in the Freiberg Mining District in Lincoln County, Nevada along a 13-km length of the main Cortez Trend fault system complex.
The Vancouver-based company says the area’s history of producing gold, silver, lead-zinc, and tungsten mines between 1919 and 1948, played a part in its interest.
The gold host rock in the area is the same as that at Barrick Gold‘s (ABX-T, ABX-N) and Staccato Gold‘s (CAT-V) properties at Eureka, Nevada according to Mexivada.
Two open pits, blast hole drilling, and a heap leach pad system were done on the property by Merlin Mining in the early 1980’s. The mine was shut down, Mexivada says, for unknown reasons.
At this point Merlin doesn’t appear to have drilled down to test the lower Goodwin Canyon member of the Pogonip — the main host rock in Barrick’s new open-pit gold mine at Eureka. Mexivada has delineated several Cortez Trend-type gold targets to test on the Freiberg property.
Mexivada hired J.L. Wright Geophysics to interpret where the southern extension of the Cortez Trend would be. Wright says the Cortez Trend fault structures likely continue south-southeast and pass alongside the Freiberg Mining District.
The company has staked other mining claims along this southern extension of the Cortez Trend, and says it will report them in due course.
Mexivada is a junior exploration company with a focus on advancing high-grade gold-silver, molybdenum, and uranium projects in Mexico and Nevada.
In Toronto on Apr. 20 its shares followed the trend of most mining stocks as gold fell from as high as US$645 down to US$619. Mexivada’s shares were off 1 to 64 on roughly 60,000 shares.
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