CABORCA, Mexico, July 20, 2018 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) today gave an update on its operations in Mexico. The information provided was compiled by Mexus geologist, Cesar Lemas, who is providing the necessary data from the company’s multiple properties.
Recent work has been directed at the 370-8 Brothers project including Vat leach testing of oxidized sulphide ore specifically from the 8 Brothers prospect area. About 50% of the sulphides remain as gold and silver bearing mineralization. There is also arsenic, lead and zinc as constituents of the sulphides. The polymetallic massive sulphides have very interesting contents of gold and silver but most of it is encapsulated within the sulphide mineral as gold-arsenate sulphide and silver-lead sulphide. These sulphides are difficult to extract by simple gravity and/or cyanide leaching unless they are pretreated via roasting to eliminate the sulphur. About 80 tons of this oxidized ore was crushed to <3 inches and put in a steel tank and leached for a period of 25 days. Eight head assay samples were taken averaging 1 g/t Au and 50 g/t Ag with one sample showing 30 g/t Au and another sample with 800 g/t Ag. Solution was assayed daily for a week showing recoveries of 1.25% in gold and 13% in silver with a slow increase after a week and large cyanide consumption. The solution was assayed after 3 weeks and turned out to have minimum increase up to 26% in silver and gold remaining the same. Vat leach testing is showing that the high sulphide ores from the 8 Brothers has to be pretreated in order to increase the recovery. Roasting of ores will release some of the precious metals to be able to leach with cyanide. Another method could be flotation of the sulphides which contain most of the gold and silver. More metallurgical testing will be directed as there is a wide variety of ores in the area and vat leach testing is the best tool for fast processing.
At the same time, trenching and sampling has been directed at the project following attractive strata which contains productive porphyry intrusions as dikes and sills producing hornfels. A 1000 meter long area has to be checked for gold and silver values and is a potentially attractive zone for a bulk type mineralization. 30 to 50,000 ounces gold would be an initial target resource in this area near surface. There is potential for 250 to 500,000 ounces in this section alone.
Mexus is pleased to announce that after a series of legal battles the company is now able to move forward at the Santa Elena mine. Mexus CEO Paul Thompson has scheduled meetings with several companies. These companies range from gold producers, major construction companies, to exploration/royalty operators. In addition, the company is researching the possibility of funding for the project. The Santa Elena is an advanced project with high possibilities of a large detachment shear zone resource with excellent gold grades.
Added Mexus CEO Paul Thompson, “Mr. Lemas is doing great work at all of our properties and is taking his time to research and evaluate the ore at the 8 Brothers/370 mine. He understands that getting it right up front will assist later as we increase production. I’ve spoken to Mr. Lemas about the timeliness of this work and he ensures me that these steps are necessary and will actually save us time and money in the long run. Mexus is successfully moving forward on all of it properties and is merging the former small production objectives with the exploration and resource valuation of all of its properties which will be a larger production and economic achievement. I look forward to some big announcements in the near future.”
Map of 8 Brothers/370 Area of Interest
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.
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.
For more information please contact Paul Dent 425-478-4908 [email protected]
Original Article: https://globenewswire.com/news-release/2018/07/20/1539994/0/en/Mexus-provides-company-update.html
