CABORCA, Mexico, July 31, 2017 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) President Paul Thompson and Marco Martinez, CEO of MarMar Holdings, announced that there is substantial amount of gold in the pregnant pond and on the heap leach pad which is currently being leached. This was confirmed by Mexus geologist Cesar Lemas. Mr. Lemas’ personal assay lab shows the heap leaching solution, as of 2 weeks ago, is producing 1.5grams AU and 18grams AG per m3. In addition, he notes that the pregnant solution in the pond and heap should yield 145 oz. AU and 1700 oz. AG and the material being leached now should yield 400 to 500 oz. AU and 3000 oz. AG with good recoveries. Finally, Mr. Lemas noted that new material being placed on Pad 2 is ranging 1.5 grams to 5 grams per ton AU.
President Paul Thompson is also pleased to announce the purchase of 48 units of water for the Santa Elena project. In addition, Mr. Thompson is in negotiations for an additional 30 units of water. The total of these transactions will provide the necessary water for the Santa Elena project for years to come.
There have been continued corrections with the gold recovery system. Notably, recent torrential rains caused a delay in the Merrill Crowe system as clay entered the ponds. MarMar has made corrections at the ponds to avoid this issue in the future. A solution to the clay issue has been found and is being implemented on site now. The Merrill Crowe system continues to be adjusted and calibrated. An additional specialist was brought in to perfect the flows and assures that when started, maximum recoveries will occur.
"I want our shareholders to understand that production and sale of gold is imminent. We have faced and overcome the initial hurdles and are nearing the time when production will begin full time for years to come. Both MarMar and Mexus agreed that we would hold off running our gold through the Merrill Crowe system until assured that the recoveries were acceptable. Patience in this area is prudent as we don’t want to risk the loss of any gold. I want to reiterate that production will be constant once all of the minor tweaks are made and we move to full time production," added CEO Paul Thompson.
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. Mexus recently joint ventured its flagship property with MarMar holdings of Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. The mine is producing gold. The company is also a partner with MarMar holdings at the San Felix mine in Northern Mexico. This 26,000 + acre property is ready for production which is planned for 2018. 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.
CONTACT: Inquiries – Paul Dent, 425-478-4908 [email protected]
Original Article: https://globenewswire.com/news-release/2017/07/31/1064729/0/en/Mexus-releases-information-on-current-gold-produced-and-the-purchase-of-water-rights.html
