Blasting permit received; Mexus prepares to run high grade material at Santa Elena mine
Mexus Gold US (OTCQB: MXSG) has obtained an explosives permit to advance mining in the Mexus II and Julio vein structures, which contain gold grades up to 16 gpt Au and an average of 4.2 gpt Au. The company anticipates conducting its first blast shortly, aiming to produce around 10,000 tons of leachable material. There are ongoing discussions with multiple mining companies regarding future opportunities for their properties in Sonora, Mexico. This progress is expected to enhance cash flow and expedite growth.
- Received explosives permit, enabling mining operations.
- High-grade gold resources with average grades of 4.2 gpt Au.
- Upcoming blast to create 10,000 tons of leachable material.
- None.
CABORCA, Mexico, March 15, 2021 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) is pleased to announce that it has received the necessary explosives permit which will allow the company to move forward with mining of the company’s high grade Mexus II and Julio vein structures. As previously noted, these areas contain up to 16 gpt Au with an average of 4.2 gpt Au. With drilling already completed at the Mexus II area the company expects to perform the first blast within the next week. This initial blast will create approximately 10,000 tons of leachable material. The company has already started the removal of overburden at the Julio vein site as this is the next drill/blast target. Based on sampling, Mexus believes this will be the best producing area in terms of average grades. “Mexus continues to produce gold at our Santa Elena mine site. We needed this blasting permit so we could increase the average grades being mined with a resulting increase in overall gold production. The higher net return will increase our cash flow and allow for a quicker build out,” added CEO Paul Thompson.
Mexus continues to have conversations with multiple mining companies concerning its three properties located in Sonora State, Mexico. Multiple options are being reviewed and management will make a decision that is in the best interest of its shareholders.
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Mexus also owns rights to the Ures property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the property. 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.
Mexus Gold US (775) 721-9960 Paul Thompson Sr
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.
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