Mexus Continues To Meet Its Production Goals At Santa Elena Mine; Mabel Property Report Being Updated

Rhea-AI Summary

Mexus Gold US (MXSG) has provided updates on its Santa Elena mine, highlighting ongoing work in the Mexus III area, yielding an average gold grade of 1.02 g/t Au. Their drilling program reports zones of up to 2.3 g/t Au and plans for a significant blast to produce 15,000 to 20,000 tons of mineralized material. Approximately 2,000 tons with 1 g/t Au are being processed on leach pads, achieving initial recoveries of 30% and potentially reaching 70-80%. The Mabel Project's reserves are under review, with prior estimates suggesting 45,000 ounces of gold.

Positive

• Production ongoing at Mexus III area with average gold grades of 1.02 g/t Au.
• Drilling program indicates higher-grade zones of up to 2.3 g/t Au.
• Preparation for blasting expected to produce 15,000 to 20,000 tons of mineralized material.
• Initial leach recoveries at 30%, anticipated to reach 70-80% soon.
• Mabel Project reserve review could increase measured reserves significantly.

Negative

• None.

CABORCA, Mexico, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it continues to work the Mexus III area at its Santa Elena mine producing a detachment structure mineral with abundant sericite and oxide filled boxwork averaging 1.02 g/t Au. There are areas with higher grade zones where the silica content is noted often with visible gold. Argonauts 2015 limited drilling program intercepted this zone from 32 to 45 meters in depth with an average grade of 1.05 g/t Au.   The Vein 2 area has been drilled for blasting and sampled with average values of 2.3 g/t Au.   One initial blast of 250 holes drilled to 6 meters is expected to produce approximately 15,000 to 20,000 tons of mineralized material.   All documents for the blasting permit are now completed and have been sent to SEDENA, the Mexican department in charge of permit issuance. Receipt of the approved permit is expected soon which will allow for continuing production in this area. The Julio vein area is also being prepared for blasting with the removal of overburden and the building of access roads to the exposed quartz vein areas.   The new Vein 3 area is also being prepared for blasting as it contains exposed quartz vein material similar to Vein 2 in quality and quantities.

About 2000 tons of Mexus III mineralized material with a 1 g/t Au average has been hauled to the crushing plant. The material is being crushed and laid on section 2 of the heap leach pad. As this section is leaching additional crushing will continue with mineralized material being placed on section 1 of the pad allowing for continuous production, continuous carbon absorption processing, and dore production.

The two leach pad sections are using 80 to 100 gpm of solution and is being processed as the gold-silver values start to return to the pregnant pond.   Mexus is achieving 30% recoveries in the first week of leaching raising to 70 to 80% in the following weeks. This continued leaching will give Mexus the metallurgical information to adjust and refine the mineral processing system being used.

Mexus’ Mabel Project, located in Northern Mexico, is currently being reviewed with information recently revised and updated by a potential partner. The purpose of the review is to calculate and update Measured Reserves. In 2011, the original owner of the property estimated 45,000 ounces of gold in a near surface quartz bearing mineral deposit which reflected only 5% of the total project. This property shows high evidence of a potential copper porphyry as well.

“I want to remind our shareholders that gold sales, as stated in prior press releases, has occurred and that additional sales are forthcoming. In addition, investors should expect to see a steady increase in the amount of gold being processed, recovered, and sold as we move forward,” added Mexus CEO Paul Thompson.

Recent aerial photo of Santa Elena mine

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 is the latest update from Mexus Gold US (MXSG)?

Mexus Gold US is actively working at the Santa Elena mine, achieving an average gold grade of 1.02 g/t Au, with drilling indicating higher grades and ongoing production.

How much gold material is being processed at the Santa Elena mine?

Approximately 2,000 tons of mineralized material with an average of 1 g/t Au is currently being processed on leach pads.

What are the expected recoveries for gold during leaching?

Mexus is achieving initial recoveries of 30% in the first week, which are expected to rise to 70-80% in subsequent weeks.

What notable drilling results are reported by Mexus?

The drilling program revealed areas with grades up to 2.3 g/t Au and an intercept at 1.05 g/t Au at depths of 32 to 45 meters.

What is the status of the Mabel Project reserves?

The Mabel Project is under review, with previous estimates indicating 45,000 ounces of gold, reflecting only 5% of the total project.