Mexus releases a status update for its Santa Elena mine and plans for its other properties
CABORCA, Mexico, January 21, 2020 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced its plan for the coming year and gave an update on its various projects and holdings located throughout Mexico. On January 7th the company began mining on the Julio vein/shear zone via a 300 x 20 meter open pit at its Santa Elena mine. This area had been blasted during the first week of January. Approximately 4500 tons of mineralized material has been mined to date with 3000 tons having been run through the crushing circuit. The resulting ¾” minus material was placed on the heap leach pad with leaching resuming on January 13th. Assays of the head material have shown 4 g/t Au and 9 g/t Ag with some areas testing as high as 16 g/t Au. The Julio material was added to 12,000 tons of Lucky Strike mineralized material which averages 1.2 g/t Au. Solution from the heap leach started returning to the pregnant pond January 15th showing a grade of .35 g/t Au of pregnant solution. The flow and returns have continued to increase with recent readings showing .45 g/t Au per ton of solution. On January 17th the company started processing the pregnant solution at a rate of 1 ton of solution per 2 minutes through the Merrill Crowe and activated carbon gold recovery systems. The use of both systems will ensure maximum recovery. Since January 17th the company has recovered 15 oz. of gold. Recovery will increase as the size of the heap pad grows allowing for additional solution to be run through the system.
Mexus President Paul Thompson along with Cesar Lemas have decided to seek a joint venture for its Mabel property. Discussions have already started and could include a drilling program with options to purchase. Any deal will include Mexus retaining a royalty from mining operations. The Mabel project is located 52 kms SW from Nogales, Sonora, Mexico. Mexus Gold US concessions total 2128 located in two clusters. There has been directed geology, geochemisty and geophysics exploration work in the area since 2002 with 611 holes drilled in 6 drilling campaigns. Approximately 1,300,000 tons are estimated in the narrow grid drilling area with an average of 0.7 g/t Au and 23 g/t Ag including 240,000 tons of 1.9 g/t Au equivalent.
Mexus, along with partner Elias Felix, have also made the decision to seek a joint venture for its Ures project. The 10,000 acre concession is located near Hermosillo, Mexico. The Scorpio concession is believed to be a copper porphyry system and will need to be drilled to confirm. High grade silver has been found at the 8 Brothers concession and will also need to be drilled to confirm the preliminary findings. A joint venture agreement for these concessions will include the company retaining a mining royalty.
Mexus President Paul Thompson added “With the Santa Elena operation expanding we feel that the fastest and most profitable way to return shareholder value is to find partners for our other properties. My goal is to have all 3 properties either producing or being drilled to a proven resource.”
Mabel Report
Julio Pit
Julio material being crushed
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Mexus also owns rights to the Ures property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the property. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.
For more information on Mexus Gold US, visit www.mexusgoldus.com.
Mexus Gold US (775) 721-9960
Cautionary Statement
Forward looking Statement: Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company’s future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company’s partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
JAN
2020