Gold Production Continues At Santa Elena Mine; Multiple Parties Reviewing Mexus’ Properties

Rhea-AI Summary

Mexus Gold US (OTCQB: MXSG) continues to attract interest from various mining companies for potential partnerships and drill agreements based on 43-101 results. Currently, it is reviewing its properties, including the Santa Elena mine and the Mabel gold/copper property, which has shown significant potential with 40,000 oz Au equivalent drilled. Recent developments include the opening of three major pits at the Santa Elena mine, which contain varying grades of gold. The company is awaiting a blasting permit to enhance production and efficiency at these sites.

Positive

• Interest from multiple mining companies for partnerships and drill agreements.
• Significant gold potential identified at the Mabel property with 40,000 oz Au equivalent.
• Opening of three major pits at the Santa Elena mine, enhancing production prospects.

Negative

• None.

CABORCA, Mexico, March 01, 2021 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it continues to be approached by multiple mining companies. These companies are interested in a drill with option to purchase agreement based on their proven 43-101 results or a joint venture production partnership. All of Mexus’ properties are currently being reviewed. These include the Santa Elena mine which is currently in limited production, the Mabel gold/copper property which shows 40,000 oz Au equivalent drilled on just 5% of the property and the Ures copper/gold/silver property.

Over the past year the company has opened 3 major pits at its Santa Elena mine with limited production from each. The Mexus III shear zone and quartz vein contains lower grade material at .7 gpt Au. This has occurred without the use of explosives. The Mexus II vein averages 2.2 gpt Au and the Julio vein/shear zones average 4.1 gpt Au. Both the Mexus II and Julio pits need to be blasted in order to continue running material from this area. Mexus has been told that this permit is approved and is currently awaiting issuance of the official paperwork. Reviewing past drilling, geological sampling and electromagnetic scoping the company believes that these 3 majors pits will connect to form a very large open pit with millions of tons of mineralized material.

“We are looking forward to receiving the blasting permit which will allow for an increase in the material grades being placed on the heap leach pad. Mexus is in our slow but steady build out phase. We are looking to increase production and recoveries which will ultimately allow for a stair-stepped phased increase of gold production throughout the year,” added Mexus CEO Paul Thompson Sr.

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.

FAQ

What recent developments has Mexus Gold US (MXSG) announced?

Mexus Gold US has announced interest from several mining companies for partnerships and drill agreements, along with the opening of three major pits at the Santa Elena mine.

How much gold potential has been drilled at the Mabel property of Mexus Gold US (MXSG)?

The Mabel gold/copper property has shown a potential of 40,000 oz Au equivalent drilled on just 5% of the property.

What is Mexus Gold US's current production status at the Santa Elena mine?

The Santa Elena mine is currently in limited production with three major pits opened, containing varying grades of gold.

What is Mexus Gold US (MXSG) waiting for to enhance production?

Mexus Gold US is awaiting the issuance of a blasting permit to increase material grades on the heap leach pad.