CARSON CITY, Nev., March 2, 2015 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) ("Mexus" or the "Company") announced that the placer plant is running with color in the sluice. The company noted that the feeder is not up to task. After timing the feeder it became apparent that a better feeder with a variable frequency drive (VFD) speed control is needed. Mexus has a VFD and feeder rebuilt and ready to ship at its Walnut Grove shop. The new equipment will ship immediately and should be operational by March 10th. Production will continue during this time. The new feeder and VFD will allow the operation to process 600 TPD. CEO Paul Thompson added, "We continue the process to obtain our blasting permit and further our drilling program outline. We are preparing ourselves to begin underground mining as soon as the permit is received. On that front, we expect to have the necessary funding for underground mining and the drilling program by the end of March." The company added a photo of the placer operation which can be found here. (New Placer Photos)
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.
Inquiries
Paul Dent, 425-478-4908Original Article: http://www.mexusgoldus.com/investors/investor-news/press-release-details/2015/Update-on-Placer-Blasting-Permit-and-Funding/default.aspx
