CABORCA, Mexico, Nov. 26, 2018 (GLOBE NEWSWIRE) --
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Posted On: 11/26/2018 8:46:06 AM
CABORCA, Mexico, Nov. 26, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) announced that drilling continues at its Santa Elena mine project with no delays and is now on the 7th hole. Five holes were drilled along the Julio Vein-Shear zone for a strike distance of 250 meters with 35 to 40 meter spacing. The purpose is to test the continuity at 25 to 30 meter depths of both the quartz vein and the shear zone that are in the main prospect area. Drill holes proved the continuity at depth of the main quartz vein varying in width from 0.75 m up to 2.0 meters at 25 to 35 meters deep with a dip angle of 45 degrees to the East.
The shallow dipping shear-fault zone also was intercepted and is dipping at a very shallow angle of less than 20 degrees to the SE. This zone becomes the main attractive structure as it varies from 7 to 12 meters in width and consists of fault gouge-mylonite with abundant carbonates as siderite and hematite often carrying quartz fragments.
Hole No. 6, the first deeper hole of 150 meters was very interesting all the way down with several quartz breccia zones and very thick shear zones. Holes No 7 and 8 will be about 150 meters deep but closer to the Julio Shaft area and should intercept the Julio vein at about 100 meters and all the shear zones near the surface. Mexus expects to complete phase 1 of its drilling program by December 1st, 2018.
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. Paul Dent 425-478-4908
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.
https://www.otcmarkets.com/stock/MXSG/news/Dr...?id=211168
The shallow dipping shear-fault zone also was intercepted and is dipping at a very shallow angle of less than 20 degrees to the SE. This zone becomes the main attractive structure as it varies from 7 to 12 meters in width and consists of fault gouge-mylonite with abundant carbonates as siderite and hematite often carrying quartz fragments.
Hole No. 6, the first deeper hole of 150 meters was very interesting all the way down with several quartz breccia zones and very thick shear zones. Holes No 7 and 8 will be about 150 meters deep but closer to the Julio Shaft area and should intercept the Julio vein at about 100 meters and all the shear zones near the surface. Mexus expects to complete phase 1 of its drilling program by December 1st, 2018.
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. Paul Dent 425-478-4908
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.
https://www.otcmarkets.com/stock/MXSG/news/Dr...?id=211168
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