CABORCA, Mexico, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) is proud to announce they have received positive assays results from the first 3 of the 9 drill holes at their Santa Elena mine.
Mexus President Paul Thompson stated, “The first batch of 75 samples have been received with positive results. We are expecting additional assays prior to the end of the year. Batches 2, 3 and 4 are expected to be completed in six to seven weeks at which time Mexus experts can complete a gold/silver resource valuation. The first 75 samples were analyzed by AA-multi element and gold/silver by fire assay.”
The first three drill holes were planned to intercept the Julio vein at shallow depth and included a new coincident shear zone at this area. The Julio Vein was intercepted from 17 to 39 meters as it seems to be foliated along the strike. Hole 1 intercepted about 0.90 meters of Julio quartz vein at 25-meter depth with detectable gold and 34.4 g/t Ag. A 3 meter wide shear zone (7-10-meter depth) is showing 1 meter of 0.2 g/t Au with almost 1 g/t Ag. This zone is a shallow dip tectonized breccia shear zone expected to contain economic values to generate a bulk mineable zone at shallow depth. Hole 2 intercepted the Julio vein at 39 meters with 1 meter of 6.28 g/t gold and 21.3 g/t silver. The shear zone stayed shallow from 5 to 17.50 meters with some anomalous silver content of about 0.3 g/t Ag. Hole 3 intercepted the Julio vein at 17 meters about 0.50-meter width with only anomalous silver 0.5 g/t. At hole 3 the shear zone is from the surface down to 10 meters deep with a 0.5 meter intercept of 0.3 g/t gold.
The Julio vein is known to contain economic values of gold and silver from previous surface and underground sampling, but the low angle shear structures are just being discovered and studied which apparently are also mineralized systems which will be the bulk mine ore producers.
This drilling stage is testing only a 200 meter portion of an estimated and suspected 3000 meter long low angle shear zone structure and also a 200 meter portion of the mineralized Julio quartz vein. Together in this area they are expected to combine to form a mineable resource. 3D software processing and interpretation of the database is progressing to be able to interpolate shear zone structures and vein intercepts with assay results as they are released from the laboratory.
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Mexus also owns rights to the Ures property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the property. 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. Paul Dent 425-478-4908
Cautionary Statement
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.