CARSON CITY, Nev., Jul 23, 2012 (GlobeNewswire via COMTEX) — Mexus Gold US (otcqb:MXSG) is a company engaged in the evaluation, acquisition, exploration, development and production of mining properties and conducts salvage operations for the recovery of precious metals.
The projects situated on the Caborca Properties are moving forward on schedule with both the placer operations and the hard rock operations entering the production phase of each project.
Placer Operations Caborca, State of Sonora, Mexico
The assembly of new equipment for the placer mining project is now complete and the equipment has been installed into the production cycle. After trial tests and adjustment the facility will be placed into production on Tuesday, July 24, 2012.
Hard Rock Operations Caborca, State of Sonora, Mexico
The equipment scheduled for installation at the Julio quartz deposit is now complete. The 120 ton per day crushing and milling recovery plant has been successfully tested and is now in production producing and recovering gold as expected. The initial material to be processed by the facility is an estimated 30,000 ton mine dump from previous mining attempts by the owner’s ancestors. Grab sample assay analysis results have indicated gold content high as 28 grams per ton. Mexus is expecting the average overall gold content to be approximately 7.5 grams per ton.
The newly installed crushing and milling recovery plant is designed for the Julio quartz vein which has had past assay analysis results as high as 5.5 oz. of gold per ton and with some visible gold in the quartz rock.
A hydraulic head frame hoisting system has been installed on the Julio vein whereby, Mexus expects to initiate an underground operation into production by August 20, 2012.
President Paul Thompson states that “Mexus will continue drilling and as soon as our new recovery plant has been time tested, Mexus will work toward a third and larger project which is an open pit concentrating on a high volume heap leach recovery system.”
About Mexus Gold US
Mexus Gold US (otcqb:MXSG) is a company engaged in the mining industry for the purpose of producing precious metals, including gold, silver and copper, from its projects located in the state of Sonora, Mexico and in the states of Nevada and Alaska. Mexus Gold US is dedicated to protecting the environment, providing employment and education opportunities for the communities where they operate. For further information or to see the full report, visit www.mexusgoldus.com .
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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.