VANCOUVER, British Columbia, July 25, 2017 (GLOBE NEWSWIRE) — MX Gold Corp. (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the "Company" or "MX Gold") is pleased to announce that, in its Joint Venture with GracePoint Mining Corp, a subsidiary of Firma Holdings Corp. (OTC:FRMA), the Magistral project is progressing on schedule.
The MX/GPM/AMM Joint Venture project development is currently based on two distinct focus areas (The Deviation Channel and Plant Site Re-Construction).
The Deviation Project includes 2,080 meters of rain water collection channel excavation and nine concrete energy dissipating structures.
The project is progressing well, with minor delays attributed to rock which has slowed the excavators required procurement of a hydraulic rock hammer attachment.
Completion to date is 31% with 652 metres of the total 2,080 being complete. Concrete work will begin next week.
Considering the disadvantages and technical deficiencies of the previous plant and the possibility of increasing the flowrates through the plant from 500 to 1000TPD, a new process plant was designed and is under Re-Construction.
The new plant will operate on the principle of Dynamic Cyanidation and will utilize zinc precipitation method – Merrill-Crowe – to recover the dissolved values.
Main plant equipment is:
? 7'x14' ball mill
? 4 agitators tanks (25'x30')
? 3 thickeners (50'x10')
? one Merrill-Crowe unit
? one cyanide destruction system
? 5 (8'x8') process tanks
The great majority of the Fabrication and Civil work is complete, with Installation in the early stages.
Metrics established by site project management are:
? Civil Construction
? Plant Equipment Fabrication
? Plant Equipment Installation
Measurement to these metrics will be developed prior to the end of July.
The plant erection contractor began mobilization to site or the initial loads on June 26th, and will be continuous as off-site fabrication continues to an expected completion of the Installation in November.
Additionally, the new power line required to the re-designed plant has been completed and is ready to connect to the "CFE (Federal Commission de Electricidad)" grid.
Mr. Dan Omeniuk, Chairman and CEO of MX Gold stated, "The turn-key build out of the plant includes increasing throughput capacity to 1,000 tonnes per day. The build out is on track to be completed, with the plant operational, by this November."
WillaMax Progress Update
MX Gold's WillaMax Project is progressing:
At the Max Mine Site
? The tailings pond has been lowered.
? The discharge permit for the portal water has now been accepted by the ministry of environment and is waiting for final approval.
? Natalus Environmental Company Inc. conducted sub-lethal toxicity tests for Masse Environmental as part of the requirements under the Metal Mining Effluent Regulations (MMER) and Environmental Effects Monitoring (EEM) program. Samples were collected on June 13, 2017. Results indicate the discharge did not show any sub-lethal effects on the organisms tested.
? As required field work for the Environmental Effects Monitoring (Cycle 4) program at MAX Moly will take place this fall (September 2017).
At the Willa Gold-Copper Deposit
? Assessment work recorded, assessment report is in progress. We look forward to reporting on the results as soon as they are received.
About MX Gold
MX Gold Corp. is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The Company's primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. This acquisition removed major costs and shortened timelines typically associated with mine project development. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve. For updates on the Magistral Project please visit our website. www.mxgoldcorp.com
On behalf of the Board of Directors,
"Akash Patel"
Akash Patel, Vice President and Director, MX Gold Corp.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
For further information, please contact
SkanderBeg Capital Advisors
604-687-7130
Ext 203
Dan Omeniuk, CEO
Email: [email protected]Ron Birch
Phone: 250-545-0383
Toll Free: 1-800-910-7711
Fax: 604-926-4232
Or by email to:
[email protected]
Source: MX Gold Corp.
Original Article: http://www.nasdaq.com/press-release/mx-gold-corp-corporate-update-on-magistral-from-ceo-20170725-00753
