CABORCA, Mexico, Dec. 21, 2018 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) continues with the evaluation of another group of assay results received from the lab that correspond to holes 4 and 5. These holes have shown to be consistent with the suspected shallow alteration zone and the continuous Julio quartz vein. A 5 drill hole fence along the Julio area is intercepting the quartz vein at an average depth of 29 meters with an average width of 2.0 meters. The east dipping Julio vein is averaging from 2 to 3 meters intercept width and about 1.0 g/t gold with intercepts of 1 meter of 1.4 g/t gold in each hole. Holes 1 to 3 intercepted the Julio quartz vein with high values up to 6.2 g/t gold and 34 g/t silver.
The Quartz vein is showing better tonnage than expected at shallow depth where tonnage is increased by the coincident shear zone. The broken shallow sheared zone is still showing traces of gold and silver. It should be noted that silver is a good trace element related to the low angle structures with detectable values and will be used in the interpretation of the structures. Detectable gold values from 0.19 to 0.27 g/t Au were found on the shallow shear zone in holes 1 and 3.
Holes 4 and 5 averaged 0.8 gold over 3 meter and 2 meters intercepts with a 1 meter section of 1.4 g/t gold. Silver trace value changes are used in these holes to outline the alteration zone.
In summary, the Julio quartz vein structure is consistent and showing widths up to 3 meters with variable gold and silver contents. The vein is continuous at the 235 meter North-South long section and also at a depth slope distance of 190 meters.
A shallow low angle shear zone with trace gold silver content is still suspected and being focused on to explore the attitude and strike length which could be well over 3000 meters. The existence of abundant placer gold in the area is evidence of erosional processes and the alteration on the surface could be the remains as well as the guideline to find the best sections in these structures.
More pending assays results from holes 6 to 9 will complete this initial stage of the database to proceed with the valuation and planning of the following exploration stage.
We are aware that core drilling has a very small area of influence with respect to sampling and we trust real gold content will be higher than values reflected on current assays. This will be tested later in further explorations where Reverse Circulation drilling will be used to evaluate the resource.
“Our resident geologist, Cesar Lemas, is pleased with the result of our initial drilling. He feels we are well on way to proving a resource which will give us multiple options moving forward. I wish all of our loyal shareholders a Happy Holiday!” added Mexus CEO Paul Thompson.
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. Jeff Baclet (775) 722-6171
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.
Original Article: https://globenewswire.com/news-release/2018/12/21/1677456/0/en/Mexus-releases-additional-promising-assay-results.html
