Mexus Gold US Produces Gold
October 03 2011 - 6:30AM
Mexus Gold US (OTCQB: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.
Mexus Gold US has begun producing gold at the Caborca, Sonora
Mexico, placer mine site. The daily production operations were
initiated on September 17, 2011. The preliminary operating cost
estimates range from a high of $285.00 per ounce of gold to a low
of $80.00 per ounce of gold depending on the grade of the ore. CEO
Paul Thompson said that from time to time, the property is expected
to produce gold in nugget form of 15 grams plus, which would affect
the operating cost range for that day. Most of the nugget form gold
would be considered jewelry class gold which would demand a higher
price than market.
Mexus estimates a resource of 23,600,000 yards plus at its
Caborca mine. Mexus believes that value of the resource will range
from 1 gram to 3.75 grams per yard. The Mexus placer plant at full
capacity is capable of processing 200 yards per day.
The Mexus Gold property is contiguous to the Penoles/Newmont
claims to the east and west. The Penoles/Newmont open pit gold mine
lies approximately 30km south of the Caborca placer/lode claims.
The Penoles/Newmont pit is the largest open pit gold mine in Latin
America. Mexus plans to begin a drilling program to evaluate the
potential for an open pit operation. The Caborca property has a
quartz structure which shows good gold values, some as high as 5.5
ounces per ton. The 5.5 ounces per ton was taken from the 100 foot
level of the Julio vain. Mexus plans to start assembling the
necessary equipment for an underground approach to the high grade
ore of the Julio while continuing the placer operation and the
drilling program.
About Mexus Gold US (OTCQB: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, visit www.mexusgoldus.com.
The Mexus Gold US 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 US
Paul Thompson CEO/President
(775) 721-9960 or (916) 776-1822
Mexusgoldus@aol.com
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