Mexus Gold US (OTCQB: MXSG) is a mining company that engages in the acquisition, exploration, evaluation, and extraction of gold, silver, and copper mine projects. Shares of the precious metal miner are down 18.19% on Monday, December 12, 2016. Over the past three months, Mexus Gold US has seen average daily volume of 847,952 shares. However, volume of nearly 1.51 million shares or dollar volume of $270,743, has already exchanged hands as of early trading on Monday.
Shares of Mexus Gold US are diving 18.19% on Monday, December 12, 2016, after the company provided a progress update on the Santa Elena mine. Mexus Gold US and its joint venture partner, MarMar, have decided to use the Merrill Crowe plant as the recovery system. Furthermore, the plant was cleared customs on December 8th and is scheduled to arrive at the mine site on December 12th. In addition, MarMar is in the process of delivering a 42-inch jaw crusher to the mine site. Here is the full press release detailing of the mine update progress:
Mexus Gold US Press Release:
CARSON CITY, Nev., Dec. 12, 2016 (GLOBE NEWSWIRE) — Mexus Gold US (MXSG) (“Mexus” or the “Company”) and its JV partner MarMar determined in November that a Merrill Crowe plant would be the best recovery system at the expanded Santa Elena mine. The Merrill Crowe plant to be used was loaded and shipped from Walnut Grove, CA. The plant cleared customs on December 8th and will arrive at the mine site December 12th. As previously stated the assembly of the plant is not complicated and should be fully operational in January 2017. The added time and effort to import a Merrill Crowe plant will be well worth it in terms of production.
MarMar is in the process of delivering a 42inch jaw crusher to the mine site. This powerful high capacity plant will prove invaluable and will meet the needs of the mine for the foreseeable future. In addition, MarMar has hired an expert in Merrill Crowe systems. The new hire’s ultimate responsibility will be to ensure efficient precipitation of Gold and Silver at the mine.
Added CEO Paul Thompson, “Our mine plan is progressing and continues to evolve and grow as our JV partner builds the site out for maximum production. We’ve made adjustments as deemed necessary. While these improvements to the mine are pushing the start of production the changes will mean a larger and more profitable mine.”
About Mexus Gold US
Mexus Gold US is an American based exploration company with holdings in Mexico. Mexus recently joint ventured its flagship property with MarMar holdings of Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. The JV is currently lining the heap leach pads and ponds with the initial stacking of ore to be completed by the end of October, 2016. Mexus recently added another mine to its portfolio. The San Marco mine is a gold and silver mine which sits in the municipality of Pitiquito, 200km S of Puerto Penasco and 250km NW of Hermosillo, Sonora in the community of Puerto Libertad. This property encompasses a total of 970 acres. The previous owner had identified 110,000oz. of gold through prior geological evaluations. The property is in a 50/50 joint venture with MarMar holdings. Permits for this project are being submitted as of September, 2016. Mexus also owns rights to the Ocho Hermanos property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the mine. The permit to build and access road will be submitted in October, 2016 with the plan to drill the property for future use. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.