CARSON CITY, Nev., May 31, 2016 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) announced that work on the Santa Elena mine is progressing as planned. On My 24th, representatives from MarMar holdings and Mexus (JV members) held a meeting and adopted a mining plan with numerous items being discussed and agreed upon. Out of this meeting came the decision to obtain a blasting permit in the name of the JV as opposed to using a blasting contractor. The parties can control costs and manage the process more efficiently than using an outside vendor. It will take 4 to 6 weeks to obtain this blasting permit allowing time for our partner to bring in additional equipment. In the end, this property will be brought into full production faster and much larger than first anticipated.
Geologists from both companies are working at identifying and mapping additional areas of interest on the property. They’ve begun taking samples for testing shown in the attached report. Added CEO Paul Thompson, “The work being done will, I believe, help confirm Mexus’ belief that this property will produce 1,000,000 plus ounces gold equivalent. I’m extremely pleased with our JV partner (MarMar) as they have and continue to follow through with their plans for the Santa Elena. I believe that their knowledge and expertise will help make this property a major mining operation and produce outstanding returns for our shareholders.”
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus' fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Recently, the company entered into a joint venture agreement with MarMar holdings of 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