Mexus Revenues Increase At Its Santa Elena Mine; Seeks Exploration Partner

Rhea-AI Summary

Mexus Gold US (OTCQB:MXSG) announced that funding for activated carbon is expected by October 28, with another shipment set to process by November 1. The company aims to establish a three-week recurring revenue cycle from activated carbon. Currently, mineralized material is averaging 4.6 gpt Au and 8 gpt Ag. Mexus has initiated a new drill program on October 18, targeting 15,000 tons of high-grade gold material. The Santa Elena mine shows a potential resource of 1.5 million oz of Au and is in partial production as negotiations for an exploration partner continue.

Positive

• Anticipation of funds for activated carbon by October 28.
• Aiming for a three-week revenue cycle from activated carbon.
• Current assays showing an average of 4.6 gpt Au and 8 gpt Ag.
• Initiation of drilling program expected to yield 15,000 tons of high-grade gold.
• Potential resource estimated at 1.5 million oz of Au from Santa Elena.

Negative

• None.

CABORCA, MEXICO / ACCESSWIRE / October 18, 2021 / Mexus Gold US (OTCQB:MXSG) ("Mexus" or the "Company) announced that funds from its recent batch of activated carbon is expected to be received by October 28^th. The next shipment of activated carbon is being readied and should ship for processing by November 1^st. "The company is seeking to speed up the activated carbon cycle from mine site to refinement over the coming months. Our end goal would be to have a 3 week recurring cycle of revenue from this process." added Mexus CEO, Paul Thompson Sr.

Mineralized material run through the crushing circuit and placed on the heap leach pad is currently assaying at an average of 4.6 gpt Au and 8 gpt Ag. The company will begin a new round of blast hole drilling on October 18^th. These efforts will produce 15,000 tons of high-grade gold material for processing through the crushing/leaching circuit.

Mexus has now accumulated 100's of assays from drill hole results, performed geo-technical mapping and now placed the Santa Elena mine into partial production. These efforts indicate a potential 1,500,000 Au oz. resource on the property. The company is working hard to select a qualified mining company to do an exploration/option agreement with potential partners actively involved in negotiations.

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.

SOURCE: Mexus Gold US

View source version on accesswire.com:
https://www.accesswire.com/668478/Mexus-Revenues-Increase-At-Its-Santa-Elena-Mine-Seeks-Exploration-Partner

FAQ

What is the anticipated timeline for Mexus Gold's activated carbon funds?

Mexus Gold expects to receive funds for activated carbon by October 28.

What is the average assay value of material at the Santa Elena mine?

The current average assay value is 4.6 gpt Au and 8 gpt Ag.

What are Mexus Gold's plans for new drilling?

Mexus Gold will begin a new round of blast hole drilling on October 18, targeting 15,000 tons of high-grade gold.

How much gold resource is estimated at the Santa Elena mine?

The Santa Elena mine has a potential resource estimated at 1.5 million oz of Au.

When is the next shipment of activated carbon expected?

The next shipment of activated carbon is set to ship for processing by November 1.