CARSON CITY, Nev., Sept. 26, 2016 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) President Paul Thompson is happy to report that his recent visit to the Santa Elena mine was successful and confirmed that the project is still on track to be in production late October 2016. The recent storms which passed through the area slowed progress at the mine site but the crew continues to push forward.
The company also announced today that Mexus and its partner, MarMar, have a new gold and silver project called the San Marco mine. This property sits in the municipality of Pitiquito, 200km S of Puerto Penasco and 250km NW of Hermosillo, Sonora in the community of Puerto Libertad. The mine encompasses a total of 970 acres. Most importantly, the previous owners of this property reported 110,000oz. of gold identified through prior geological evaluations which provides a strong basis for future work. The 50/50 agreement with MarMar on this project is similar to the one at our Santa Elena mine. MarMar plans to submit for permits immediately. Marco Martinez, CEO of MarMar, feels that these permits will be completed about the time the Santa Elena mine is processing 15,000 tons of ore a day.
Added CEO Paul Thompson, “Mexus and MarMar are keeping with our promise to bring additional projects on board. This new property, with its excellent drill results and mineable gold, is a small example of what MarMar brings to the table. I hope our shareholders can clearly see that this partnership has been and will continue to be a win.”
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.
Original Article: http://globenewswire.com/news-release/2016/09/26/874356/0/en/Mexus-adds-new-project-and-updates-its-shareholders-on-the-Santa-Elena-mine.html
