Mexus Gold U.S. is Pleased to Announce the Acquisition and Initial Exploration Results for the Caborca Project, Sonora State, Me
March 07 2011 - 9:58AM
Mexus Gold U.S. (OTCBB:MXSG), is a company engaged
in the evaluation, acquisition, exploration and development of
mining properties and conducts salvage operations for the recovery
of precious metals.
President and CEO Paul Thompson is pleased to announce the
initial results of Paul A Pelke's survey of the Caborca Project.
Mr. Pelke is a qualified person according to the rules and
regulations set forth by the Toronto Venture Exchange.
The Caborca Project consists of 7400 acres (3000 hectares) in
Sonora State, Mexico about 50 kilometers northwest of the City of
Caborca, Sonora State, Mexico.
The Caborca Project lies on claims filed by the owners of the
Santa Elena Ranch, which controls the surface rights over the
project claims. The claims lie near 112o 25' W, 31o 7.5" N. These
claims were visited near the end of January, 2011.
No geologic maps of the area were available from the Government
Geological Survey. However the claims were found to be
underlain by an igneous complex. The rocks observed included
many types of granitic rocks, exhibiting porphyrytic textures,
gneissic and equigrannular textures. Quartz was
variable. At times quartz "eyes" were observed, that is
porphyrytic quartz which many workers consider to be indicative of
a porphyry environment. In other localities, no quartz was
evident. When no quartz was present, the rock was
equigrannular.
Quartz veining was evident throughout the claim group. A
mine was developed along a major quartz vein, called the Julio 2
Mine with the vein being called the Julio Vein. Workings were
substantial in this area, but no mapping of the workings were
carried out during the visit. The vein varied in width from
approximately 40 cm to over 1 meter and extended at least 200
meters along strike.
Sample results from the Julio vein are given below:
SAMPLE |
Au ppm (Gold, gm/ton) |
Au opt (Gold, oz/ton) |
Width |
199040 |
150.11 |
4.83 |
40 cm |
199041 |
153.34 |
4.93 |
40 cm |
199042 |
167.16 |
5.37 |
40 cm |
199043 |
17.55 |
0.56 |
1 m |
199044 |
15.67 |
0.50 |
1 m |
These assays were obtained from screened samples. That is,
a total of 1 kilogram of sample was crushed and screened for coarse
metallics. A +150 mesh fraction and a -150 mesh sample was
obtained. The +150 mesh sample was weighed and assayed with
the total weight of Au recovered being recorded. These results
were mathematically combined with the results of a 1 assay ton (30
gram) fire assay completed on the -150 mesh fraction. The
results shown above are the total results of this
process. Other metals were not present in these samples in
appreciable quantities and these elements include As, Sb, Hg, Cu,
Pb and Zn. The Julio vein is essentially a quartz calcite vein
with few to no sulfides present. These results indicate that a
vein exploration target exists on the claim group.
In other areas, abundant vein quartz was evident on the
surface. This quartz is considered to be evidence of a
stockwork quartz vein zone. This zone was followed for about 1
kilometer east - west on the surface. The north - south extent
was not accurately determined but is considered to be on the order
at least 400 meters.
Other samples were taken on the claim group. The results
are given below:
SAMPLE |
Au ppm |
Ag ppm |
Ag opt |
199045 |
0.104 |
|
|
199046 |
0.021 |
|
|
199047 |
0.071 |
|
|
199048 |
0.580 |
1432 |
46.05 |
Sample 199045 was taken from bedrock below a placer mining
area. Samples 199046 and 199047 were taken from within
the quartz stockwork area found within the claim group. 199047
was a soil sample taken at a randomly selected site within the
stockwork zone and 199046 represented the coarse (+3/8 inch)
fraction at the same site. These results are encouraging
principally because of the 0.071 ppm (71 ppb) soil
sample. This is an anomalous value and suggests that the zone
is mineralized.
Sample 199048 was taken from a small prospect where miners had
reportedly recovered over 5 kilograms of gold. The sample was
taken from a gouge zone near the bottom of the prospect. The
values were recovered from an apparent manganese rich gouge
zone. The sample results did not yield a highly elevated value
of manganese but did show elevated levels of silver, arsenic, iron,
lead, sulfur and antimony.
From this sample and from observations on the Marta Elena and
Julio veins, it is apparent that multiple mineralizing events have
taken place within the claim group.
Consequently, there are multiple exploration targets on this
claim group. The two most important are the quartz stockwork
zone and the Julio vein system. HQ core drilling is expected
to begin within one month. The first target will be the quartz
stockwork zone. At least four drill holes are expected to be
drilled in this zone to test the mineral potential of this
area. Additional holes will be completed to test the Julio
vein system.
In addition, this claim group has historically yielded large
(multiple ounce) nuggets which were found by using metal
detectors. Consequently, an undetermined placer
potential exists within the claim group. This will also begin
to be tested within two months.
About Mexus Gold U.S. (OTCBB:MXSG) is a company
engaged in the mining industry for the purpose of producing
precious metals, including gold, silver and copper, from its
projects located in the state of Sonora, Mexico and in the states
of Nevada and Alaska.
Mexus Gold US is dedicated to protecting the environment,
providing employment and education opportunities for the
communities where they operate. For further information or to see
the full report, www.mexusgoldus.com, or for more detailed Investor
Information please visit:
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
To view progress video of the Cable Recovery
Project please visit:
http://www.premierstocks.tv/index.php?option=com_content&view=article&id=242:mxsg
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, President
(480) 649-8224
866-216-8814
Mexus Gold US (CE) (USOTC:MXSG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mexus Gold US (CE) (USOTC:MXSG)
Historical Stock Chart
From Jul 2023 to Jul 2024