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CABORCA, Mexico, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced its new 500GPM Merrill Crowe gold recovery plant is complete and operational. The plant is capable of handling Mexus’ 3000 ton a week mining operation and will allow for future expansion as well.
Mining has begun on the newly named Lucky Strike pit at the company’s Santa Elena mine in Caborca, MX. The company decided to name this new area the Lucky Strike as it continues to reveal excellent values and is growing in size. Mexus Gold Mining SA De Cv geologist, Cesar Lemas, is pleased with the results and expansion of the discovery. Mexus has performed two 100meter core drills and have added that information to results of an additional hole drilled by Argonaut Gold. All three holes have shown excellent values to depth with average assays of 1.2 g/t Au. The Lucky Strike area is easily mined with the use of a CAT D8 and is located only .5 Km from the company’s crushing circuit. Mexus is now capable of running the crushing circuit and placing crushed material onto the heap leach pad at a rate of 100 tons per hour. Leaching is set to be restarted the week of November 4th with recoverable gold returning within 12 days. The Lucky Strike is easier to mine without the need for blasting which is required on the Julio vein. Mexus will expand and mine the Julio vein as revenues grow.
Mexus expects its all-in costs to run $437 per ounce Au. This projection is based on a gold spot price of $1500 an oz. and silver spot price at $18 an oz. with a recovery of .5 g/t Au. Mexus CEO and President, Paul Thompson Sr., added “Our initial expectation for recovery is a great starting point but we are striving towards a much higher rate using our new and improved methods of recovery.”
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
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.