Mexus Gold U.S. Phase I Drilling Finalized for U.S. Operations Esmeralda County, Nevada
October 20 2010 - 10:39AM
Mexus Gold U.S. (OTCBB:MXSG), a mining company
engaged in the evaluation, acquisition, exploration, salvage and
recovery of gold, silver and copper projects, is pleased to
announce that Phase I Drilling Program budgets are being finalized
for its Esmeralda County, Nevada mine project which consists of 150
acres of patented claims, 14 unpatented claims and 2 mill sites.
Mexus has also filed an additional 12 mining claims adjacent to the
existing lands situated in the Lida Mining District.
Previous Mine Engineering reports state there are drill
indicated reserves and address both underground and surface open
pit mining potential on the original 50 acre patented claims. A
1977 report by Andrew J. Zinkl, Mining Engineer, on the property
reports 52,946 tons proven, 99,500 tons probable and 278,000 tons
possible mineral bearing ore with grades averaging at 20 ounces per
ton Silver and .05 ounces per ton Gold. A report dated in 1981 by
E. R. Kruchowski, Mining Engineer, expanded the tonnage to 136,089
tons proven and 272,178 tons probable at average grades of 7.63
ounces Silver per ton and .05 ounces Gold per ton. Both of these
previous Engineering reports covered only a portion of the 150 acre
patented claims. The Company has conducted its own geological
surface analysis which indicates a strike length of 4,000 feet of
mineralized ground which has not been previously explored through
drilling operations. The Phase I Drilling Program will incorporate
this mineralized ground to further define the geological
characteristics of the area and identify potential reserves on this
particular area. The Company draws attention to the fact that these
two reports were prepared prior to the current standards in place
today for identifying and reporting mineral reserves. In the
Company's opinion the reports are unto themselves a viable
indication of the existence of significant mineral resources
wreathe of further geological exploration and evaluation,
therefore, reference was included herein.
On June 4, 2010 Mexus Gold U.S. executed a one year extension of
the Option to Purchase Mine Agreement with the owner of the
Esmeralda County, Nevada mine project lands which will allow the
Company ample time to complete its due diligence program.
About Mexus Gold U.S.
Mexus Gold U.S. (OTCBB:MXSG) is a mining
company engaged in the evaluation, acquisition, exploration,
salvage and recovery of gold, silver and copper projects in the
State of Sonora, Mexico, the Western United States and Alaska.
Mexus Gold U.S. is dedicated to protect the environment, provide
employment and education opportunities for the communities where
they operate. For further information or to see the full report
www.mexusgoldus.com or download our corporate profile at:
http://www.premierstocks.tv/images/company_links/mexus.pdf
The Mexus Gold U.S. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7718
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: Mexus Gold U.S.
Paul Thompson, President/CEO
775-721-9960
Premier Media Service Inc.
Kelly Black
(480) 649-8224
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