CABORCA, Mexico, Dec. 03, 2018 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) announced that the first stage of exploration drilling has finished at the Santa Elena Project with 736 meters of core in 9 holes. The purpose of this initial drilling program is to study a major area of geologic interest where a high-grade gold quartz vein merges with a tectonic shear zone with gold/silver values. In the area, the shear zone outcrops with 8 to 10 meters width with a low angle dip to the East and it is cut by a steeper 0.75 to 1.5 meter wide quartz vein which has previously assayed high grades of gold. 200 core samples were collected from drilling and are being sent to ALS-Chemex labs for assays.
Drilling information will be interpreted with 3D software as the geologic structure is the key to following the favorable host zones for economic mineralization. Assay results will be added to complete the database and proceed with the geo-economic interpretation of the area. This area is only a 270 meter section of an approximately 3000 meter long structural anomaly which is still to be studied. More surface work as geologic mapping, sampling, geophysics, and trenching needs to be directed as to locate the best drilling targets along this structure as well as similar structures in the area. Assay results will evaluate this section but more samples need to be collected along the 3000 meter strike of the structure.
Santa Elena is originally a quartz vein system that was planned to be developed with more than 1 million tons in outcropping quartz vein mineralization averaging 0.3 to 1.5 g/t Au and with surface evidence and potential for major low angle shear zone structures such as Noche Buena and Herradura mines which are approximately 30 kilometers to the west.
Assay results from drilling will provide the guide for the next exploration stage towards locating a potential low angle shear zone gold and silver resource.
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. Paul Dent 425-478-4908
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/2018/12/03/1660513/0/en/Drilling-completed-at-Mexus-Gold-US-s-Santa-Elena-mine.html
