CARSON CITY, Nev., April 1, 2013 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) is a company engaged in the evaluation, acquisition, exploration, development and production of mining properties and conducts salvage operations for the recovery of precious metals
Mexus is pleased to announce that M.S. Carlos Merino, our mining permit agent, has filed the requisite documents for mining operations for our Julio project. We have been informed the permitting process is approximately 30 days; therefore, Mexus is progressing with plans for the Julio underground mine establish mining and production operations as soon as the permits are authorized. Two additional employees have been retained for refurbishing the previous Julio underground equipment and to deepen the existing shaft by 100 feet to the 200 foot level. Future plans include construction of a shaft to the north along the quartz vein and mine up to drop the gold bearing quartz in to cars which will be transported to the surface. At the surface, the cars will be moved by a previously installed, hydraulic powered head frame to the ball mill gravity recovery system.
President Paul Thompson stated that the underground resource is capable of sustaining commercial volumes of 20 tons a day with precious metal grades of 20 to 30 oz of gold during that period with budgeted daily mining cost of $3,000 per day. Recent sampling of the underground shaft produced quartz samples with visible gold; please refer to the Julio gold rock picture on website www.mexusgoldus.com.
Julio open pit heap leaching recovery project
Mr. Thompson also stated that with receipt of the permit, Mexus will begin preparations for begin open pit mining operations with a production rate of 1,000 to 1,500 tons increasing to 6,000 tons per day with a target grade of 1.5 grams per ton average. A report prepared by Cesar Lemos, geologist, indicates that a potential of a reserve of 3.5 million tons with little overburden (basically exposed at the surface). There is also an adjacent shear zone identified by drilling, service sampling and geophysical surveys which now leads Mexus to conclude that we have sufficient data to proceed with further evaluation and production testing of the shear zone. Mexus intends to have this particular Julio potential fully operational by September 1, 2013.
Mexus Trinidad JV Update
Mexus Trinidad JV is producing gold and silver on a daily basis. The flow rate to our Merrill Crow recovery plant is 1600 gallons per minute. This is on target according to Mexus previous expectations.
About Mexus Gold US
Mexus Gold US (OTCQB:MXSG) is a company engaged in the mining industry for the purpose of producing precious metals, including gold, silver and copper, from its projects located in the state of Sonora, Mexico and in the states of Nevada and Alaska. Mexus Gold US is dedicated to protecting the environment, providing employment and education opportunities for the communities where they operate. For further information or to see the full report, 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.
CONTACT: Paul Thompson CEO/President (775) 721-9960 or (916) 776-1822 Mexusgoldus@aol.com
Source:Mexus Gold US