VANCOUVER, British Columbia, Aug. 30, 2017 (GLOBE NEWSWIRE) — MX Gold Corp.(TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF) (the "Company" or "MX Gold"), in its joint venture partnership with GracePoint Mining Corp (OTC PINK:FRMA), is pleased to announce that the Magistral Project is experiencing great relations with the local community, including support from local government. The project completion and commencement of production is targeted for the 4th Quarter of 2017.
Ismael Mata Alvarado, Mayor of Santa Maria Del Oro, said: "We are very excited to be the home of one of the next great processing facilities in Mexico. We have seen excellent work and construction of a state of the art production plant. Working with the Magistral Project management team has been a pleasure. Our beautiful city of Santa Maria Del Oro has already benefited from the project, and as the project moves towards completion, it is already becoming clear that it will have a significant impact on our community."
Bert McPherson, MX Gold Corp. President said: "I have worked in many places throughout the world, and I can easily say that Santa Maria Del Oro is a special place. Working with the good people of Santa Maria Del Oro has been an absolute pleasure."
Dan Omeniuk, MX Gold Corp. Chairman & CEO said: "Our team is passionate about the Magistral project! The support that we have received from Mr Alvarado, the town Mayor, has given us even greater confidence for the long-term success of the project. It is encouraging to see the commitment and positive impact that his leadership is having on the community. We wish him success in his upcoming "State of the Union" address to the people that he honorably serves and leads. Our team believes that great relations with the community is the first step to a winning project. We are also pleased to see the project advancing on schedule, and that the price of Gold has increased since the acquisition of the project."
MX Gold is a junior mining company focused on the exploration and development of advanced projects located in Mexico and British Columbia, Canada. The company's primary focus, is the Magistral del Oro tailings project located 392 km SW of Chihuahua and includes a fully permitted, 500 tonne-per-day dynamic cyanide countercurrent system plant constructed in 2013 and tailings containing a historic estimate of 1.25 million tonnes averaging 2.06 grams per tonne gold. The company is currently expanding to 1000 tonne-per day which is scheduled to be completed by the 4th quarter of 2017. The Company also owns 50% of the IDS Project, which includes a fully permitted smelter that was completed in 2014 for a throughput capacity of 50 tonnes per day. The smelter was built to receive and process high-grade direct-ship ores and concentrates from small-scale miners across the state of Durango and beyond.
MX Gold Corp. is also focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The Company's primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. This acquisition removed major costs and shortened timelines typically associated with mine project development. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve. For updates on the Magistral Project please visit our website. www.mxgoldcorp.com
On behalf of the Board of Directors,
Akash Patel, Vice President and Director, MX Gold Corp.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
For further information, please contact Dan Omeniuk, CEO Email: [email protected] Or by email to: [email protected]
Source: MX Gold Corp.