CARSON CITY, Nev., Jan. 04, 2016 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) announced today that it anticipates that in the first part of 2016 one of several mining companies currently reviewing the Julio/Martha Elena property will pick up and continue where Argonaut left off. The company believes that this property has tremendous potential and that a well-funded company will use the significant work already completed to further the project. President Paul Thompson added, “This is an important time for Mexus. We have a major mining company looking at the Julio/Martha Elena and our hope is to complete a deal that is fair for all given the challenges within the mining industry.”
Mexus also announced that it has made progress at the Scorpio/8 Brothers projects. The company recently received sample assays from the Scorpio/8 Brothers property which are extremely promising (Copy of Assay).
The limited drilling that has been completed looks favorable for a porphyry copper deposit at the Scorpio. Mexus understands that the Scorpio copper project needs to be drilled by a major mining company and is in the process of seeking a partner to that end. The Scorpio minerals are composed of carbonates of copper and silicates of copper ranging between 2.5% Cu and 7.3% Cu.
Mexus has been aware of the high grade silver and gold at the 8 Brothers property for some time. The 8 Brothers contains a complex ore that is easily mined but has metal values which are hard to recover due to large amounts of sulfur. These minerals are plumbojarosite and argentojarosite which contain large amounts of silver, gold, lead, copper and zinc. This ore is first processed by crushing and grinding to reduce it to fine grain and then roasted between 1000-1500 degrees Fahrenheit to oxidize the sulfur. The process has been done by different methods for years. Mexus president Paul Thompson and Elias Felix, a retired chemical engineer and metallurgist from the University of Sonora State Mexico, have been working on a simple but efficient roaster for some time. The hope is to complete a test plant by mid-February 2016.
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. 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