DGAP-News: Mexus Gold US Announces Submarine Cable and Mine Operations Updates
(businesspress24) - Mexus Gold US
04.11.2011 14:00
---------------------------------------------------------------------------
CARSON CITY, Nev., 2011-11-04 14:00 CET (GLOBE NEWSWIRE) --
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(at)aol.com
News Source: NASDAQ OMX
04.11.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Mexus Gold US
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901301302
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 04.11.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 513586
Anzahl Zeichen: 0
Kontakt-Informationen:
Ansprechpartner:
Stadt:
Telefon:
Kategorie:
Wirtschaft (allg.)
Anmerkungen:
Diese Pressemitteilung wurde bisher 155 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Mexus Gold US Announces Submarine Cable and Mine Operations Updates
"
steht unter der journalistisch-redaktionellen Verantwortung von
Mexus Gold US (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
