CARSON CITY, Nev., Dec. 18, 2013 (GLOBE NEWSWIRE) — Mexus Gold Mining S.A. de C.V., a wholly owned subsidiary of Mexus Gold US (OTCQB:MXSG), announced today that it has received the final Mexican Environmental Mining Permit for the Julio/Santa Elena project. The 30 year permit will allow the Company to mine and produce gold on its wholly owned property. The Company plans to establish three operations at the Julio/Santa Elena mine site.
1) Placer Operation: The existing placer operation will be moved a short distance from its current location allowing a doubling of the capacity.
2) High-Grade Underground Mining: Mexus has installed and tested the necessary equipment to begin underground mining once the qualified miners have been hired. This equipment includes a hydraulic head frame along with a gravity recovery plant. (Photos of hydraulic head frame found under Julio Mine Project) The underground shaft is currently 100 feet deep with 100 feet of drift. Past assays show gold up to 6 ouncesper ton. The production operation will be 20 tons a day to start using a 4 man underground crew and an additional 3 men at the mill. This rate of tonnage will increase as knowledge and efficiencies are gained.
3) Heap Leach: The open pit/heap leach operation holds the most promise for Mexus. The Company will start with the 600 GPM Merrill Crowe recovery system presently store at the Company’s fabrication facility. (Merrill Crowe photos under the Julio Mine Project.) The capacity, using existing mining equipment, is approximately 2,500 tons per day with an expected average of 1.5 grams per ton.
“Our open pit will start with shallow mining of numerous exposed quartz veins on the property. Overburden is basically non-existent on these veins so our start up time is minimal. We will be digging 50 to 60 foot wide swaths down to 30 feet. This material alone will keep us stacking for the first year. In the meantime, we will continue with our core drilling and mapping so we have a game plan once this initial mining is complete.” Stated Paul Thompson, the company’s Chief Executive Officer. “Our goal is to get to 6000 tons a day!”
Mr. Thompson went on to say, “I realize that this has been a challenging year for our shareholders. I appreciate the patience and support that has been shown during this time. Obtaining these permits is truly a watershed moment for Mexus and sets us up to have a fantastic 2014. We have begun the march to full production at our Julio/Santa Elena property!”
About Mexus Gold US (OTCQB:MXSG)
Mexus Gold US is a gold, silver and copper exploration company focused on projects in the Western United States and Northern Mexico. Mexus Gold US and its subsidiaries Mexus Enterprises S.A. de C.V. and Mexus Gold Mining S.A. de C.V. have several mining operations in Mexico. Mexican operations include the San Felix Mine; the Mexus-Atzek Mine, a joint venture agreement with Atzek Mineral S.A. de C.V.; the Julio Mine and other prospective areas awaiting additional exploration and evaluation. Mexus Gold Mining S.A. de C.V. and Mexus Enterprises S.A. de C.V. employ over 60 people and utilize third-party consultants and geologists to assess its mining exploration and operations for gold and other precious metal values. 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 mexusgoldus.com.
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: Paul Thompson CEO/President
(775) 721-9960
[email protected]
