CARSON CITY, Nev., April 20, 2015 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) ("Mexus" or the "Company") announced an update on its placer operation and ongoing negotiations for underground mining at the Julio. On April 8th, a $10,000 payment was received from its Mexican corporation (Mexus Gold Mining SA de CV). The placer is not yet running at full capacity but is starting to pay the bills. Vice President Julio Baltazar added, "We are working hard to get the mine to full production and each day we are moving closer to accomplishing that goal."
Mexus has been negotiating with the Mexican government concerning the recovery of the IVA Tax which is currently owed the company. A resolution of this matter appears to be forthcoming.
Mexus continues to negotiate with a private company to begin underground mining at the high grade Julio mine. Upfront monies and funds to begin the mining will enable the company to mine 25 tons per day. The agreement would include plans to upgrade to 300 tons per day within 24 months. The company believes, using its current drilling studies along with historical data of the Julio, that 1 ounce of gold per ton is obtainable. Past history shows that the Julio produced 2 ounces per ton gold average. "Mexus has seen assays as high as 6 ounces per ton. In addition, there is visible gold and we would expect the assays in those areas to be even higher," said CEO Paul Thompson.
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus' fully owned Julio/Santa Elena property is located 54km NW of Caborca, Mexico. This property sits in an area which is currently being mined by some of the largest mining companies in the world. Mexus has drill results which show a high grade, multi vein system throughout the property. The company looks to have this property in full production by the end of 2015. Mexus also owns the rights to the Ocho Hermanos property, which is located 80km NE of Hermosillo, Mexico. This property will be drilled to show a proven reserve once our flagship property is in full production. Preliminary drilling on this property has been extremely promising. 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.
CONTACT: Inquiries
Paul Dent, 425-478-4908 [email protected]
Source: Mexus Gold US
