CARSON CITY, Nev., Nov. 30, 2015 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) president Paul Thompson recently returned from Mexico and is happy with his findings at the Santa Elena/Julio site. Mexus has an option/JV agreement with, Argonaut Gold on the project and Argonaut has informed Mexus that on November 16th, they completed their Phase I work program on the Julio project and have fulfilled the initial 6 month work obligation as defined in the Company’s Joint Venture Agreement. During the program, 16 RC drill holes were completed for a total of 1990 meters. Drilling was focused on three main target areas referred to as Los Mantos, Los Cruses, and The Central Zone. All samples have been sent to ALS Chemex for analysis with assays pending. Drill results will be disseminated when they are available.
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President Paul Thompson closed, “We are pleased with the progress Argonaut has made on the project and we look forward to reviewing the results of the drilling once assays are received. In my opinion, Mexus is greatly underestimated and undervalued given our low overhead, and the properties and contracts we control.”
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus' fully owned Julio/Santa Elena property is located 54km NW of Caborca, Mexico. In July 2015, Mexus and Argonaut Gold Inc. (TSE:AR) entered into a joint venture option agreement for this property. The property sits in an area which is currently being mined by some of the largest mining companies in the world. Mexus has drill results which show a high grade, multi vein system throughout the property. Mexus also owns the rights to the Ocho Hermanos property, which is located 80km NE of Hermosillo, Mexico. This property will be drilled to show a proven reserve once our flagship property is in full production. Preliminary drilling on this property has been extremely promising. 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.
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.
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Source:Mexus Gold US