CARSON CITY, Nev., April 25, 2016 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) announced today that the environmental and mining permits are complete and work has begun on the area that will become Mexus’ open pit heap leach mine. An area 300 meters by 100 meters is being cleared and leveled for the pad. (See Attached Photos) Mexus intends to open pit the shear zone where the Julio high grade quartz vein faulted to the west as identified by Director of Operations Cesar Lemas. The shear zone and the Julio quartz vein will be mined simultaneously with strict grade control. The shear zone ore has graded 1 to 5 grams per ton with the Julio assays running much higher and includes visible gold. Mexus believes that mining the Julio quartz vein from the surface along with the shear zone makes the most sense. The shear zone material will be crushed to ¾” minus then placed on the leach pad. The Julio high grade will go straight to Mexus’ crusher ball mill gravity recovery plant. The tailings from the gravity recovery plant will also be placed on the heap.
Photos accompanying this release are available at
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http://www.globenewswire.com/NewsRoom/AttachmentNg/63f5447e-03e8-4b57-9586-18344c9f48a1
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Mexus is working with a blasting contractor who has already been on site and evaluated the area. Track drilling will be commenced soon with 200 to 250 drill holes ranging from 3 to 6 meters deep being completed. Each of these holes will be sampled to control the grades being processed.
The funding necessary for the materials, dirt work, blasting, and labor is coming from the sale of the non-essential placer plant. Added CEO Paul Thompson, “Our Director of Operations Cesar Lemas presented a budget to get an initial heap leach pad completed. It became clear that if we could sell some of our equipment we would be able to afford the heap leach/ball mill plan as laid out by Mr. Lemas.”
The revenue from this initial test pad will give the company the needed funds to continue furthering its mine plan. “We will be in a fantastic position after the completion of our first run. We’ll have cash in the bank to expand the heap leach and will have shown the value and potential of this property,” said CEO Thompson.
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus' fully owned Julio/Santa Elena property is located 54km NW of Caborca, Mexico. The property sits in an area which is currently being mined by some of the largest mining companies in the world. Mexus has drill results which show a high grade, multi vein system throughout the property. Mexus also owns the rights to the Ocho Hermanos property, which is located 80km NE of Hermosillo, Mexico. This property will be drilled to show a proven reserve once our flagship property is in full production. Preliminary drilling on this property has been extremely promising. 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.