Mexus Gold US Announces a Mine Acquisition and a Newly Formed Joint Venture
26 August 2013 - 8:30PM
Mexus Gold US (OTCQB:MXSG), and its subsidiary, Mexus Enterprises,
S.A. de C.V., negotiated a new agreement covering the San Felix
Mine. The company also entered a joint venture agreement with Atzek
Mineral S.A. de C.V., a well-known Mexican mining exploration and
mineral evaluation company, for participation in mining operations
of the Mexus–Atzek Mine (formerly named Trinidad Mine).
San Felix Mine
Mexus Enterprises, S.A. de C.V. executed a lease purchase option
agreement with private landowners of the San Felix Mine. The San
Felix Mine covers 118.6 acres and is known for its gold and silver
production potential. The agreement is the most significant
acquisition Mexus Enterprises S.A. de C.V. has negotiated to date.
Currently, Mexus has three geologists concentrating in this area.
Preliminary findings indicate a substantial potential for large
commercial development with gold values ranging from a trace to
11.5 grams per ton of ore material.
The San Felix Mine is approximately 600-1,000 feet from the
Mexus–Atzek Mine facilities. Due to the close proximity of the two
locations, Mexus Enterprises, S.A. de C.V. will use the Mexus–Atzek
Joint Venture heap leach pads for the San Felix Mine ore. In
addition, column test results and analysis of the ore will allow
the excavation method used to produce ore material of 6 inch minus
and placed directly on heap leach pads without further crushing or
handling. There is little overburden, if any, therefore all costs
associated in the process of placing this ore into production will
be greatly reduced. A third party mining and equipment company will
be utilized to conduct the extraction and hauling of the ore to the
heap leach pads, which will be 1,000 tons per day increasing up to
6,000 tons per day. The present Mexus-Atzek facilities are capable
of handling this size of mining operation without any significant
expansion required.
"Acquisition of the San Felix Mine for development is a
significant opportunity for Mexus Enterprises S.A. de C.V., as well
as, the Mexus-Atzek Joint Venture. By all accounts, dating back to
Spanish exploration, the area is rich in gold and silver potential.
We are extremely pleased with this agreement," stated Paul
Thompson, director and president of Mexus Gold US.
Mexus-Atzek Joint Venture
Mexus Enterprises S.A. de C.V. executed a joint venture
agreement with Atzek Mineral S.A. de C.V. for the development of
the Mexus-Atzek Mine. Atzek Mineral S.A. de C.V. is a gold
exploration and evaluation company with properties throughout
Mexico.
According to Thompson, "The joint venture with Atzek Mineral
brings a team of legal, professional and security personnel, as
well as expertise in all phases of mining operations. As a result
of the joint venture, the company has acquired additional lands in
and around the Mexus-Atzek Mine that provide strong areas of
interest for exploration and evaluation in addition to our existing
holdings of 1,134 acres which comprise the joint venture
lands."
Current production operations began on August 21, 2013 with the
initiation of spraying several heap leach pads with solution to
initiate the recovery of gold and silver in approximately three
weeks and thereafter. Mexus Enterprises S.A. de C.V. has been at
the Mexus-Atzek Mine area since November 1, 2012.
Julio Mine
Mexus Gold Mining S.A. de C.V. is working to commence mining
operations and ore processing at the Julio Mine. The mine covers
3,300 acres and includes an open pit mining operation with a heap
leach facility under construction for ore extracted from the Julio
vein system and an underground mining operation for deeper ore
material. Current activities include the layout for the production
pads, fluid collection ponds and the recovery system. The company
has a diamond drill rig on location and is moving a second rig on
site to identify prime areas for mining ore extraction and leaching
operations.
About Mexus Gold US (OTCQB:MXSG)
Mexus Gold US is a gold, silver and copper exploration company
focused on projects in the Western United States and Northern
Mexico. Mexus Gold US and its subsidiaries Mexus Enterprises S.A.
de C.V. and Mexus Gold Mining S.A. de C.V. have several mining
operations in Mexico. Mexican operations include the San Felix
Mine; the Mexus-Atzek Mine, a joint venture agreement with Atzek
Mineral S.A. de C.V.; the Julio Mine and other prospective areas
awaiting additional exploration and evaluation. Mexus Gold Mining
S.A. de C.V. and Mexus Enterprises S.A. de C.V. employ over 60
people and utilize third-party consultants and geologists to assess
its mining exploration and operations for gold and other precious
metal values. 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 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
Mexusgoldus@aol.com
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