CARSON CITY, Nev., June 27, 2016 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) along with its mine partner MarMar holdings gave an update on the progress at the Santa Elena mine.
Work continues as expected with the stockpiling of 700-1000 tons of ore from the vein 2 area. This material is from the blast preparation and is ready to be crushed and placed on top of the geomembrane liner. The company estimates that 3500 tons of crushed ore will be used as a filter for the Heap Leach system. MarMar has drilled a 100 meter section on vein 2 with 6 meter blast holes which are ready to be charged. An additional 200 meters on this round will produce about 8000 tons of ore in one blast.
The area known as vein 1 is also being prepared. A 530 meter section of vein 1 will add an estimated 15,000 tons of ore on the first 6 meters.
Geological mapping and sampling of the property continue on the property with the existing database being examined and expanded to produce a geologic model that can be measured and evaluated.
The heap leach pad and ponds are about 80% complete and ready to be protected with a 2.5 meter wire mesh fence before proceeding with installation of the geomembrane.
Added CEO Paul Thompson, “I’m thrilled with MarMar’s progress to date. They continue to meet and exceed the time frames they have laid out. I look forward to the day that we can announce the mine is in full production.”
Additional progress photos have been added to the website.
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus' fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Recently, the company entered into a joint venture agreement with MarMar holdings of 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
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.
CONTACT: Inquiries Paul Dent, 425-478-4908 [email protected]