Mexus agreement with MarMar Holdings officially te
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Posted On: 07/02/2018 8:19:48 AM
Mexus agreement with MarMar Holdings officially terminated
CABORCA, Mexico, July 02, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) announced that the joint venture with MarMar Holdings has been officially terminated. Mexus attorney, David Armendariz, states that the contract signed in June, 2016 was voided due to Marmar Holding SA de CV’s lack of compliance with certain clauses in the agreement. Mexus Gold Mining SA de CV complied with all requirements established in the joint venture agreement which furthered the basis for the contract to be voided. The termination of this agreement has been certified by both Sonora and Coahuila´s attesting officials. Mexus now has numerous options at the Santa Elena mine which could include a new joint venture.
Mexus completed its first test of the VAT leaching system and the Merrill Crowe gold recovery plant at the 8 brothers/370 mine project. The successful test produced 70 pounds of precipitate which is currently being dried and prepared for smelting. Results of this first run will be released soon. The material initially mined took longer to leach than expected. Mexus geologist, Cesar Lemas, has identified new material which has been column tested showing a 48 to 72 hour leach time. The company will mine and use this material going forward to accelerate recovery times.
CABORCA, Mexico, July 02, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) announced that the joint venture with MarMar Holdings has been officially terminated. Mexus attorney, David Armendariz, states that the contract signed in June, 2016 was voided due to Marmar Holding SA de CV’s lack of compliance with certain clauses in the agreement. Mexus Gold Mining SA de CV complied with all requirements established in the joint venture agreement which furthered the basis for the contract to be voided. The termination of this agreement has been certified by both Sonora and Coahuila´s attesting officials. Mexus now has numerous options at the Santa Elena mine which could include a new joint venture.
Mexus completed its first test of the VAT leaching system and the Merrill Crowe gold recovery plant at the 8 brothers/370 mine project. The successful test produced 70 pounds of precipitate which is currently being dried and prepared for smelting. Results of this first run will be released soon. The material initially mined took longer to leach than expected. Mexus geologist, Cesar Lemas, has identified new material which has been column tested showing a 48 to 72 hour leach time. The company will mine and use this material going forward to accelerate recovery times.
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