Mexus Gold US Update
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV