Mexus Gold US Announces Submarine Cable and Mine Operations Updates
November 04 2011 - 9:00AM
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.
Submarine Cable Operations
Mexus Selling Cable!
The Mexus tug and barge arrived in Washington State on October
31, 2011. Our sales representative, Power Com, has potential
purchasers evaluating the cable and preparing bids at this time.
The cable pulling equipment operated very well and above
expectations, however, there were external problems which limited
our capability to properly salvage a large volume of
cable. The weather and sea conditions were the largest
challenge to conducting efficient salvage operations. Based on
the knowledge and information acquired through this initial salvage
effort the determination has been made to purchase a ship with a
carrying capacity of approximately 1.5 million pounds and operate
at greater depths in open water under adverse weather conditions.
The target submarine cable is approximately 30 pounds per
foot, therefore, storage requirements will require a ship of this
magnitude for recovery of the target cable. Mexus has already
replaced its smaller survey boat with a 42' former US Coast Guard
vessel powered by twin Cummins engines which is capable of
operating in open water and conducting survey data acquisition to
1000 feet in depth. This vessel will be working offshore
Washington and Oregon coasts later this year to survey and identify
our larger and more profitable targets.
Caborca, Sonora State, Mexico
Mexus Produces Gold!
Mexus placer gold recovery project is producing gold at this
time. Mexus is adding larger equipment to the facility to increase
the overall efficiency of the milling process. In addition, two
larger haul trucks are scheduled to arrive in Caborca on November
11, 2011.
Mexus intends to begin a diamond core drilling program in
anticipation of receiving a geological report under the standards
of 43101 on the Caborca hard rock area adjacent to our placer
operation by November 14, 2011. The core drilling program will
initially be situated at the Julio underground mine on 100' centers
and to a depth of 300'. The Julio underground mine at the 100'
level has previously produced assays as high as 5.5 ounces per ton
gold. Mr. Paul Pelke, Geologist, of Reno, NV has been
retained to oversee the drilling operation and will be preparing
the geological report. The hard rock core drilling target area is
approximately 1 square mile based on surface observations and soil
evaluations.
Mining and recovery facilities for the hard rock target area are
expected to include an open pit operation with an underground high
grade operation at the same time.
About Mexus Gold US
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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