Mexus enters into joint venture with MarMar Holdings
May 23 2016 - 6:25AM
Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) announced
today that it has entered into a joint venture agreement with
MarMar Holdings of Mexico at its Julio/Santa Elena
property. Under the 50/50 joint venture agreement,
MarMar will operate the mine and carry all costs. In
addition, the company is announcing that the Julio/Santa Elena
property will now be known as the Santa Elena mine.
MarMar Holdings is owned by Marco Martinez of Monterrey,
Mexico. Mr. Martinez has over 40 years of experience in
mining including work done at Penoles’ La Herradura open pit
mine. MarMar has an extensive staff including lawyers,
certified geologists, engineers, equipment operators and general
labor to work the Santa Elena mine. In addition, MarMar owns
equipment capable of moving up to 100,000 tons of ore a
day. Certified Geologists from MarMar are already
working the property and have identified additional ore
bodies. The company is bringing in a blast hole drill and
will do the initial shoot when ready. Initially, Mexus had
planned to do a test 10,000 ton heap leach pad. This
agreement changes the plan and will allow the heap leach pads and
ponds to be built much larger.
Added Mexus CEO Paul Thompson, “The scale and scope that MarMar
brings to this project will allow the mine to be built out much
larger and much faster than we had planned. This is a great
fit for Mexus and a win for our shareholders. Marco’s
knowledge and experience with large mines will prove invaluable as
we move forward. Between our geologist, Cesar Lemas, and
MarMars’ certified geologist we’ve identified over 1,000,000 tons
of mineralized material with an average value of 1.5 gram AU per
ton. This material sits at the surface with an initial mining
depth of 3 meters and no overburden. We know that this properties
value goes much deeper than that. In addition, the certified
geologists will begin a drill program that will be the basis of
creating an NI 43-101. Our goal is to mirror what Penoles did just
30km south of our property and create a world class mine that will
produce gold for years to come.”
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. 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
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.
CONTACT: Inquiries
Paul Dent, 425-478-4908 pdent@mexusgoldus.com
Mexus Gold US (CE) (USOTC:MXSG)
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