CABORCA, Mexico, Feb. 01, 2021 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it continues to work the Mexus III area at its Santa Elena mine producing a detachment structure mineral with abundant sericite and oxide filled boxwork averaging 1.02 g/t Au. There are areas with higher grade zones where the silica content is noted often with visible gold. Argonauts 2015 limited drilling program intercepted this zone from 32 to 45 meters in depth with an average grade of 1.05 g/t Au. The Vein 2 area has been drilled for blasting and sampled with average values of 2.3 g/t Au. One initial blast of 250 holes drilled to 6 meters is expected to produce approximately 15,000 to 20,000 tons of mineralized material. All documents for the blasting permit are now completed and have been sent to SEDENA, the Mexican department in charge of permit issuance. Receipt of the approved permit is expected soon which will allow for continuing production in this area. The Julio vein area is also being prepared for blasting with the removal of overburden and the building of access roads to the exposed quartz vein areas. The new Vein 3 area is also being prepared for blasting as it contains exposed quartz vein material similar to Vein 2 in quality and quantities.
About 2000 tons of Mexus III mineralized material with a 1 g/t Au average has been hauled to the crushing plant. The material is being crushed and laid on section 2 of the heap leach pad. As this section is leaching additional crushing will continue with mineralized material being placed on section 1 of the pad allowing for continuous production, continuous carbon absorption processing, and dore production.
The two leach pad sections are using 80 to 100 gpm of solution and is being processed as the gold-silver values start to return to the pregnant pond. Mexus is achieving 30% recoveries in the first week of leaching raising to 70 to 80% in the following weeks. This continued leaching will give Mexus the metallurgical information to adjust and refine the mineral processing system being used.
Mexus’ Mabel Project, located in Northern Mexico, is currently being reviewed with information recently revised and updated by a potential partner. The purpose of the review is to calculate and update Measured Reserves. In 2011, the original owner of the property estimated 45,000 ounces of gold in a near surface quartz bearing mineral deposit which reflected only 5% of the total project. This property shows high evidence of a potential copper porphyry as well.
“I want to remind our shareholders that gold sales, as stated in prior press releases, has occurred and that additional sales are forthcoming. In addition, investors should expect to see a steady increase in the amount of gold being processed, recovered, and sold as we move forward,” added Mexus CEO Paul Thompson.
Recent aerial photo of Santa Elena mine
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 Paul Thompson Sr
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.
