March 1 2021 CABORCA, Mexico, March 01, 2021 (G
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Posted On: 03/01/2021 9:16:28 AM
March 1 2021
CABORCA, Mexico, March 01, 2021 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it continues to be approached by multiple mining companies. These companies are interested in a drill with option to purchase agreement based on their proven 43-101 results or a joint venture production partnership. All of Mexus’ properties are currently being reviewed. These include the Santa Elena mine which is currently in limited production, the Mabel gold/copper property which shows 40,000 oz Au equivalent drilled on just 5% of the property and the Ures copper/gold/silver property.
Over the past year the company has opened 3 major pits at its Santa Elena mine with limited production from each. The Mexus III shear zone and quartz vein contains lower grade material at .7 gpt Au. This has occurred without the use of explosives. The Mexus II vein averages 2.2 gpt Au and the Julio vein/shear zones average 4.1 gpt Au. Both the Mexus II and Julio pits need to be blasted in order to continue running material from this area. Mexus has been told that this permit is approved and is currently awaiting issuance of the official paperwork. Reviewing past drilling, geological sampling and electromagnetic scoping the company believes that these 3 majors pits will connect to form a very large open pit with millions of tons of mineralized material.
“We are looking forward to receiving the blasting permit which will allow for an increase in the material grades being placed on the heap leach pad. Mexus is in our slow but steady build out phase. We are looking to increase production and recoveries which will ultimately allow for a stair-stepped phased increase of gold production throughout the year,” added Mexus CEO Paul Thompson Sr.
See website for boilerplate.
CABORCA, Mexico, March 01, 2021 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it continues to be approached by multiple mining companies. These companies are interested in a drill with option to purchase agreement based on their proven 43-101 results or a joint venture production partnership. All of Mexus’ properties are currently being reviewed. These include the Santa Elena mine which is currently in limited production, the Mabel gold/copper property which shows 40,000 oz Au equivalent drilled on just 5% of the property and the Ures copper/gold/silver property.
Over the past year the company has opened 3 major pits at its Santa Elena mine with limited production from each. The Mexus III shear zone and quartz vein contains lower grade material at .7 gpt Au. This has occurred without the use of explosives. The Mexus II vein averages 2.2 gpt Au and the Julio vein/shear zones average 4.1 gpt Au. Both the Mexus II and Julio pits need to be blasted in order to continue running material from this area. Mexus has been told that this permit is approved and is currently awaiting issuance of the official paperwork. Reviewing past drilling, geological sampling and electromagnetic scoping the company believes that these 3 majors pits will connect to form a very large open pit with millions of tons of mineralized material.
“We are looking forward to receiving the blasting permit which will allow for an increase in the material grades being placed on the heap leach pad. Mexus is in our slow but steady build out phase. We are looking to increase production and recoveries which will ultimately allow for a stair-stepped phased increase of gold production throughout the year,” added Mexus CEO Paul Thompson Sr.
See website for boilerplate.
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