CARSON CITY, Nev., Jun 18, 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 exploration activities for the salvage of precious metals contained in submarine communication cable.
The Caborca Properties, which cover approximately 3,500 hectares, have become our primary focus. Initially, we installed a small placer recovery plant to conduct tests on the prospective placer and hard rock areas and to determine the viability of continuously mining the placer deposits and the known Julio quartz vein deposit. The successful results obtained from this project brought us to the conclusion to move forward and begin mining operations in those areas. The Company has also retained an independent geologist to provide us with a report covering his evaluation and analysis of other nearby prospective areas which have indications of exploration potential.
The following briefly describes our recent activities and plans for the particular prospective areas we presently have knowledge of within the Caborca Properties.
Placer Operations Caborca, State of Sonora, Mexico
With the initiation of the placer mining project, the positive results quickly became apparent and gave indications the project possessed the potential to become successful. The decision was then made to add additional equipment which will increase the production of processed ore by more than double the current levels established by the original plant. The new equipment has arrived at the mine site and is now being assembled for operation.
Hard Rock Operations Caborca, State of Sonora, Mexico
We have now scheduled the Julio quartz deposit for the installation of a 120 ton per day crushing and milling recovery plant, which we recently purchased. We have collected samples within this particular quartz vein deposit which had assay analysis results from .250 to 5.5 ounces of gold per ton.
Our plans for the Caborca Properties are:
— Initiate the placer mining operation with the new and larger equipment
during the month of July.
— Initiate the hard rock mining operation with the recently acquired
crushing and milling equipment during the month of August.
— Continue the drilling program we began during 2011.
— Utilize the findings of the independent geological reports to fully
exploit the placer deposit areas and the Julio quartz vein for
production purposes and begin new exploration activities on prospective
areas with surface indications similar to the Julio quartz vein deposit.
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.