CABORCA, MEXICO, June 5th, 2017 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) announced that progress at the Santa Elena mine continues towards the goal of becoming a producing mine. Our geologist, Cesar Lemas, has spent the last few weeks analyzing all aspects at the mine and has produced a technical report which includes an operating plan. The Santa Elena mine has processed 16,000 tons of ore from Vein 2 which was the blasted material to a depth of 5 meters. New mineralized material is now being mined from the Julio structure. A low angle shear zone has just been uncovered at the footwall of the main Julio vein. This ore is being hauled directly to the pad after adding the required lime for PH control. Most of this material is pad ready and crushing is not needed. Samples from this new material were collected randomly and analyzed by Mr. Lemas at a local fire assay laboratory. One duplicate was split and pulverized then fire assayed in 10 gram portions. Results returned an average of 5 g/t Au and 18 g/t Ag. Quartz vein boulders from this system are being treated separately to be crushed and sampled. This material will be processed as high grade or hauled to the leach pad based on the results.
Additional sampling of the vein and shear structures have been processed with results to return as early as June 6. Veritas Bureau Laboratory in Caborca (formerly Inspectorate) currently has a 25 day return time on assays so duplicates will also be analyzed locally to control the mine development. An AA analyzer unit will be onsite the week of June 5th and will be calibrated to Santa Elena standards. The primary function of this machine is to monitor solutions before they go to the Merrill Crowe recovery plant. Mr. Lemas noted that the initial heap leach was estimated at 1.2 g/t Au and 10 g/t Ag based on site analysis. Heap leaching is expected to collect 400oz. to 500oz. Au and 10 times that in Ag, with the minimum production of 1000 tons per day within the first 30 days of production. Future target production is in the order of 10,000 tons per day.
The mine crew is currently producing 500 to 1000 tons per day with only one pit in operation. The plan is to reach 1000 to 5000 tons per day in the near term with several pits being worked simultaneously. Additional drilling and blasting equipment will be used as well as hauling trucks. There is no interference between production points as the structures are widespread and located close to the crushing area and leach pad.
Continued analysis of the initial precipitate from Pad 1 showed an excess of zinc. Attempts to smelt this material have proved difficult and costly. It has been decided that this material will be added to future material thus diluting the overall zinc.
The pad for the crusher is cleared and being prepped. The plan is to stair step production with the end goal of reaching 10,000 tons a day. Equipment scheduled for delivery includes a 988G Cat Loader, a 100 ton haul truck, track mounted blast drill, and a secondary crushing plant on site which will facilitate the increased production.
“To say I’m excited about this assay would be an understatement. This result confirms what we had already stated- the Julio vein is rich in gold! The results from this vein will fluctuate but it’s important to keep in mind that we will also be digging in high grade zones as we work the shear wall. Getting Cesar involved is a real game changer for all as he knows this property extremely well. I would also like to add that our investors need to focus on our press releases for a source of information. Anything else is speculation or has been extrapolated from conversations I may have had.” added CEO Paul Thompson.
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. Mexus recently joint ventured its flagship property with MarMar holdings of Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. The mine is producing gold. The company is also a partner with MarMar holdings at the San Felix mine in Northern Mexico. This 26,000 + acre property is ready for production which is planned for 2018. 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.
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.
CONTACT: Inquiries – Paul Dent, 425-478-4908 pdent@mexusgoldus.com
JUN
2017