CABORCA, SONORA STATE, Mexico, May 15, 2017 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) gave an update on its Santa Elena project located near Caborca, Mexico. The project continues as expected with the usual growing pains for an expanding miner. Our joint venture and operating partner for the project, MarMar Holdings, has made consistent and steady progress at the mine site. To date, MarMar has constructed two holding ponds, a heap leach pad, performed an initial blast of a quartz vein, started a cyanide drip system on the heap leach pad, and started the Merrill Crowe recovery system. In addition, they also performed a test smelt and produced a small amount of dore using precipitate from the Merrill Crowe plant. These accomplishments are significant and show a determination to bring this project into full production.
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/Attachm...bce157c113
http://www.globenewswire.com/NewsRoom/Attachm...3966545da7
http://www.globenewswire.com/NewsRoom/Attachm...2a0ea26653
MarMar has big plans for this project moving forward. There is currently 250 pounds of precipitate in secured storage ready to smelt. This material is the output from the initial leaching of pad 1. Smelting will begin when on site engineers are assured they have the proper flux mix to ensure no gold is being lost within the process. It is expected that smelting will begin in earnest the week of May 15 th .
Leaching of pad 1 continues as does the placing of new mineralized material on pad 2. MarMar has let Mexus know that the large crusher located in Central Mexico has been loaded on trucks and is now being shipped to the project. (see photos) This 30” x 42” crusher includes a 43” x 16” vibrating feeder and discharge conveyor. It is expected that the equipment will arrive to the Santa Elena mine site during the week of May 15 th . Mexus will make an announcement when this occurs as this is a pivotal step in getting the mine to a production rate of 10,000 tons per day and beyond. The arrival of a generator that is currently crossing the border will complete the necessary pieces to begin the use of this equipment. In addition, Mr. Marco Martinez, CEO of MarMar, states that he is delivering a Caterpillar 988G loader which will facilitate the increased production. MarMar is determined to bring the production at the Santa Elena project to 10,000 tons per day. In addition to the outstanding news noted above MarMar completed the acquisition of an Atomic Absorption machine. The machine is currently being calibrated by a qualified engineer and once certified will be placed into service. This is an important piece of machinery as it allows the mine manager to know how the heap is performing and when to transition to the next pad. MarMar is also awaiting the delivery of additional filter press cloths. This will enable the use of multiple presses and ultimately increase the flow through the Merrill Crowe plant.
The company also announced that it is in good standing as it relates to the contract for the Santa Elena property. Mexus has in the past and will continue to abide by the terms of the contract. Please be advised statements published or otherwise communicated regarding the Santa Elena property by a third party or parties are not correct in any respect. These comments and actions may result in legal action both in Mexico and the United States of America.
“Mexus and MarMar continue down the path towards full production at the Santa Elena project. Like our shareholders, I wish the accomplishments to date could have taken place at a faster pace. That being said, Mexus and MarMar are in a strong position to take the final step toward commercial production. Our shareholders need to understand you don’t turn a switch and begin producing 100 oz. a day. What is important to remember is the end goal which is reaching full and continuous production for years to come. I will update our shareholders as we move forward with important milestones. This will include initial dore sales, the start-up of the jaw crushing equipment, and any other important issues. I ask our shareholders to remain patient with these initial steps and be assured that myself and our partners at MarMar are doing everything in our power to get into full production.” added Mexus 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 pdent@mexusgoldus.com
