Mexus Gold Issues Santa Elena update
CARSON CITY, Nev., Jan. 19, 2017 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) released an update on its Santa Elena mine. MarMar Holdings Inc., the mine operator at the Santa Elena, is currently loading ore on the heap leach pad. As previously stated, the equipment currently on site is insufficient to meet the scale of the project. The time and associated costs of using this equipment is prohibitive in the long run. MarMar is moving a larger crusher to the site that once installed will speed the loading process. Installation of this larger crusher will allow the company to optimize and maximize its daily output of ore and lead to much faster completion of the first lift. The cyanide leaching system will be placed on this first lift when done.
Setup and install of the recently delivered Merrill Crowe recovery plant is now finished. The on-site crew is currently assembling the inflow and outflow pipes for this system which should be completed in short order. The retention ponds are lined and ready for cyanide solution which will be one of the last steps prior to the production of gold commencing.
“The Santa Elena property will be our first producing mine. Our operating partner has multiple crews that will enable simultaneous work at both the Santa Elena and our newly acquired property (San Felix). Production at the Santa Elena is nearing and I ask for the shareholders to remain patient with the process. These steps will provide the base for what will become a large operating mine for years to come,” added Mexus CEO Paul Thompson.
About Mexus Gold US
Mexus Gold US is an American based exploration company with holdings in Mexico. Mexus recently joint ventured its flagship property with MarMar holdings of Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. The JV is currently lining the heap leach pads and ponds with the initial stacking of ore to begin in the first part of 2017. The company also is a partner with MarMar holdings at the San Felix mine in Northern Mexico. This 26,000 + acre property is ready for production which is planned for the first half of 2017. Mexus also owns rights to the Ocho Hermanos property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the mine. The permit to build and access road will be submitted in October, 2016 with the plan to drill the property for future use. 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.
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.
CONTACT: Inquiries
Paul Dent, 425-478-4908 pdent@mexusgoldus.com