Mexus Updates Progress At Its Santa Elena Mine

Rhea-AI Summary

Mexus Gold US (OTCQB: MXSG) resumes mining operations at the Santa Elena mine after overcoming a 20-day COVID-related slowdown. The Mexus III area shows promising gold and silver values, with leaching currently at 60 Gpm. New carbon filters optimize gold recovery. The Vein II area is ready for blasting, expected to yield over 10,000 tons of high-grade material. CEO Paul Thompson highlights ongoing discussions with potential partners and expresses optimism about the company's future prospects, particularly regarding its copper property in Sonora State.

Positive

• Mining operations at Santa Elena resumed after COVID-related delays.
• Mexus III area shows significant gold and silver values ranging from 0.7 to 1.2 Gpt Au.
• Heap leach pad leaching at 60 Gpm, with expectations to increase gold recovery to 0.35 ppm.
• Vein II area ready for blasting, targeting over 10,000 tons of high-grade quartz mineralized material averaging 2.3 Gpt Au.
• Active engagement with potential partners for both the Santa Elena mine and the Mabel property.

Negative

• 20-day slowdown in mining operations due to a COVID outbreak among employees.

CABORCA, Mexico, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it continues to mine the Mexus III pit area at its Santa Elena mine. The increase in mining efforts comes after a 20 day slow down due to a COVID outbreak of some of its mine employees. The crew is now COVID free with the company taking extra measures to ensure the safety of all involved. Mexus CEO Paul Thompson recently received a vaccination shot adding confidence when traveling to the mine and interacting with employees and representatives of other mining companies. The Mexus III area continues to show a potent detachment alteration zone with values ranging from .7 to 1.2 Gpt Au and .3 to .5 Gpt Ag. The heap leach pad is currently leaching at 60 Gpm. The carbon filters have been filled with a new load of activated carbon collecting 100% of values at .25 to .27 ppm gold. Mexus expects the values to increase to .35 ppm within a week of additional material being placed on the heap leach pad.

The Vein II area, with 300 drilled holes, is now ready for blasting. A recent military inspection by a group of army personnel occurred as part of the permitting process. It is believed that the issuance of the permit should occur any day. The first blast will produce more than 10,000 tons of high grade quartz vein mineralized material averaging 2.3 Gpt Au.

“In addition to the positive results at the Santa Elena mine we continue to meet with potential partners. This week I will be meeting with multiple companies concerning their interest in both the Santa Elena mine and our Mabel property. In addition, there are ongoing discussions with companies concerning Mexus’ copper property in the Sonora State of Mexico. I’m very pleased with the progress at the Santa Elena mine and by the interest that Mexus is garnering,” added Mexus CEO Paul Thompson.

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 updates did Mexus Gold US give regarding the Santa Elena mine on February 16, 2021?

Mexus Gold US announced the resumption of mining operations after a COVID-related slowdown and provided updates on mining results, including gold and silver values.

What are the gold values reported by Mexus Gold US from the Mexus III area?

The Mexus III area reported gold values ranging from 0.7 to 1.2 Gpt Au and silver values from 0.3 to 0.5 Gpt Ag.

What is the expected impact of the blasting in the Vein II area for Mexus Gold US?

The first blast in the Vein II area is expected to produce over 10,000 tons of high-grade quartz vein material averaging 2.3 Gpt Au.

How is Mexus Gold US handling COVID safety measures?

Mexus Gold US reported that the crew is now COVID-free and that the company is taking extra precautions to ensure employee safety.

What is the significance of the company's engagement with potential partners?

Mexus Gold US is actively meeting with potential partners which could lead to strategic developments regarding its Santa Elena mine and other properties.