Mexus Gold, the aggressive (yet ever civically and environmentally minded) mineral developer focused on gold, silver, and copper via its interests in Nevada, Alaska, and Mexico, offered the markets a status report/update today on their roughly 8,649-acre Caborca Project in Sonora, Mexico.
Both the hard rock and placer operations at the Caborca properties are proceeding apace of expectations, with the production phases for both engaged. It is now clear that Caborca has emerged from the company’s other interests in Mexico (Scorpio copper project and 8 Brothers high-grade silver project) to be their flagship site there.
All of the new equipment for the placer production area is installed, and the company is just going through comprehensive trialing as the facility is fine-tuned in advance of the July 24 date for placing everything into full production. Things will be getting back into a normal production cycle for the placer operations, with MXSG pulling metal out daily, subsequently freeing up considerable energy to deal with maximizing hard rock implementations at the Julio quartz vein.
Anticipation is high at Mexus as the Julio overburden clearly showed large amounts of silver in addition to the targeted gold in previous analysis, with visible gold in the quartz and assays from down about 100 feet showing concentrations as high as 0.25 to 5.5 oz/t Au (anticipated overall average grade of roughly 7.5 g/t). Hard rock operations are primed for massive activity with the new 120 ton/day crushing and milling systems installed. As the successfully tested plant undergoes rigorous initial production runs (currently recovering gold as per projections) on the some 30k tons of material recovered from previous mining at the site, attentions can shift towards furthering the Julio quartz vein exploration side of the hard rock project.
The requisite hoisting system (a hydraulic head frame) has been installed at the some 1.9 mile long by 1-30 foot wide Julio vein structure in order to pursue underground operations and the initial diamond drilling proposal looked at a drilling dispersion pattern of 100 foot centers to depths of 600 feet. Looking to commence the underground program here by August 20, Mexus appears to really be on top of the rapidly emerging Caborca property and has a serious shot at turning the overburden and underlying quartz vein complex into an open pit operation that would utilize scale-appropriate heap leach recovery.
President of MXSG, Paul Thompson, confidently asserted that drilling (which began back in 2011) would recommence at Caborca under the astute supervision of Geologist Paul Pelke out of Reno, Nevada, and analysis of the Julio vein would be carried out as soon as the new recovery facility has been thoroughly put through its paces. Thompson projected that an open pit operation would indeed be possible and that the company was on track for such a development in the near future.
With a solid production footprint and quite an advanced presence in material salvage operations like the recovery of a copper, lead, and ferrous manganese steel containing 4.5-inch, 31 lb/foot cable under evaluation in early 2012 (survey work will be done by the company’s deep water electronic locating systems-equipped survey vessel), Mexus is well-positioned to drive revenue growth well into 2013.
Interested investors can get more details at the Mexus Gold U.S. website: www.MexusGoldUS.com
Let us hear your thoughts below:
