Mexus Gold US Announces Geological Report Received Covering the Julio Property
October 12 2012 - 6:58PM
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.
Mexus Gold received a geological report prepared by an
independent geologist covering part of the Julio Property near the
current placer plant and northward toward the Julio Vein. The
property is situated on or near the Mojave-Sonora Mega Shear Zone
which is well known as a major source of gold bearing zones
presently being mined by several major gold production companies.
The following is a summary of the findings of the report:
An initial group of 164 samples over a relatively small area of
the Julio Property form the basis for the report. A tentative
tonnage estimate of 3,676,400 grams gold with a cutoff of one gram
was based on study of six veins visible on the surface and located
in parallel running southeast toward the northwest. The values of
the samples ranged from 0.92 grams to 7.26 grams. The Julio Vein
extends more than 800 meters before it buries and is known for high
bonanza grades which includes the underground mining site on the
property and is estimated at 415,000 tons on the surface with a
minimum of 5 grams per ton. The report states that the vein is
expected to become a combination open pit and underground operation
upon further geological study and exploration activities. There are
also four shear zones recognized in the area. Shear Zone 1 is
coincident with the Julio Vein and had a sample graded at 11.5
grams. Shear Zone 2 is 400 meters to the south east and parallel to
the vein system 1 through 5. Shear Zone 3 contains a bonanza pocket
which had sample results as high as 19 grams was graded at an
average of 5.5 grams from assayed sample results. Shear Zone 4
presently contains some pits, adits and shafts and graded 2 grams
from eight samples. This area can be a mining area relative quickly
with the construction of roads and drilling to delineate the ore
body. The report states that the 6 major vein structures identified
in the area south of the Julio shaft account for nearly 4,000,000
tons of ore with an average gold grade of 2.5 grams with three
times as much in Silver. The report also suggests additional
mapping, sampling, drilling of the vein structures and shear zones
3 and 4 and the Julio vein and EM to trace concealed shear
zones.
Comments regarding the report: the cutoff for minable ore areas
was 1 gram which is the normal cutoff for the major mines in the
area.
Paul Thompson, President, stated, "We knew the area had good
gold bearing ores in various areas but this report is really
important to us because some of the samples were a mile away from
the plant area and had values as high as 18.33 grams and 4.79 grams
with a number of samples over 2 grams or more. We have plenty of
exploration work just in this four square mile area and look
forward to getting some drilling done as soon as we can. The
results in the report are great and we have the geologist doing
additional work right now."
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: Paul Thompson CEO/President
(775) 721-9960 or (916) 776-1822
Mexusgoldus@aol.com
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