CABORCA, Mexico, July 02, 2018 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) announced that the joint venture with MarMar Holdings has been officially terminated. Mexus attorney, David Armendariz, states that the contract signed in June, 2016 was voided due to Marmar Holding SA de CV’s lack of compliance with certain clauses in the agreement. Mexus Gold Mining SA de CV complied with all requirements established in the joint venture agreement which furthered the basis for the contract to be voided. The termination of this agreement has been certified by both Sonora and Coahuila´s attesting officials. Mexus now has numerous options at the Santa Elena mine which could include a new joint venture.
Mexus completed its first test of the VAT leaching system and the Merrill Crowe gold recovery plant at the 8 brothers/370 mine project. The successful test produced 70 pounds of precipitate which is currently being dried and prepared for smelting. Results of this first run will be released soon. The material initially mined took longer to leach than expected. Mexus geologist, Cesar Lemas, has identified new material which has been column tested showing a 48 to 72 hour leach time. The company will mine and use this material going forward to accelerate recovery times.
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.
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.
Inquiries – Paul Dent, 425-478-4908 [email protected]
Original Article: https://globenewswire.com/news-release/2018/07/02/1532181/0/en/Mexus-agreement-with-MarMar-Holdings-officially-terminated.html
