| ||March 12, 2013|
Mesa Exploration Corporate Update
| ||Mesa Exploration Corp. (TSX-V: MSA, OTCPK: MSAJF) is pleased to announce a general corporate update.|
Bounty Potash Project
The project is a near-surface potash brine deposit on a lifeless, barren salt flat in western Utah near operating potash mines. A comprehensive mineral report has been completed by the Bureau of Land Management (BLM), a necessary step for lease category minerals such as potash. The permitting process now turns towards environmental analysis and an exploration plan review by the BLM. The first phase of drilling will have little environmental impact as there is no site or road construction, the drill is mounted on a ¾ ton flatbed truck. The target depth is 30 feet, each hole can be drilled and reclaimed in a few minutes using a shovel and broom; and the entire first phase program can be completed in 3 weeks.
Oatman Gold Project
The project is within the Oatman Mining District in western Arizona with historic production of 2 million ounces of gold at an average grade of 0.67 ounces per ton (opt) of gold. The project hosts portions of the historically productive Gold Road, Oatman and Pasadena veins, the project is adjacent to the Gold Road mine and permitted mill. Priority drill targets occur where these veins intersect or are covered by thin gravel and are not known to have been explored. One drill target on the Pasadena vein is a 700 foot strike length that is covered by a thin layer of gravel. This portion of the vein has mine dump samples that grade 0.28 opt gold on the northern end and 0.48 opt gold on the southern end. These historic samples were taken in 2004 by a consultant (a Qualified Person) for the previous owners. An exploration plan consisting of a dozen drill holes on four small pads has been planned and permitting for this program is underway.
Belmont Silver Project
The Belmont Mining District is in central Nevada with historic production of 15 million ounces of silver at an average grade of 60 opt silver. The project is located where the productive veins trend beneath alluvial cover. From a review of the geology, previous work and historic mines there is no apparent geologic reason that the vein system should not continue under this cover. Exploration potential exists for the discovery of a high grade silver deposit. This is a very straight forward target however a geophysical survey using magnetometer and VTEM will eventually be run ahead of a simple shallow drill program to refine drill hole locations. Belmont is an excellent target however it is currently a lower priority than Bounty and Oatman.
Resignation from Board of Directors
Joseph Giuffre has resigned from the board of directors to focus on other professional commitments. Mesa would like to thank Mr. Giuffre for his experienced input and valuable contributions to the company's board of directors during his tenure and wish him every success in the future.
This news release was prepared under the supervision of Dana Durgin, an AIPG Certified Professional Geologist, and a Qualified Person as defined by National Instrument 43-101 guidelines.
About Mesa Exploration
Mesa is developing and exploring a portfolio of mineral properties in the United States where it controls significant land holdings in proven mining districts with excellent access and infrastructure. Mesa currently has 14.7 million shares issued and outstanding, 50% of the shares are controlled by insiders and institutions. For further information please visit our website at www.MesaExploration.com.
ON BEHALF OF THE BOARD
MESA EXPLORATION CORP.
(signed) Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
For further information call:
Corporate Communications, 775-379-3993
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
You can view the Next News Releases item: Thu Apr 25, 2013, Mesa Exploration Clarifies Technical Disclosure
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