Posted in | Gold | Mining Business

Mexus Gold Negotiates New Agreement for San Felix Mine

Mexus Gold US, and its subsidiary, Mexus Enterprises, S.A. de C.V., negotiated a new agreement covering the San Felix Mine. The company also entered a joint venture agreement with Atzek Mineral S.A. de C.V., a well-known Mexican mining exploration and mineral evaluation company, for participation in mining operations of the Mexus–Atzek Mine (formerly named Trinidad Mine).

San Felix Mine

Mexus Enterprises, S.A. de C.V. executed a lease purchase option agreement with private landowners of the San Felix Mine. The San Felix Mine covers 118.6 acres and is known for its gold and silver production potential. The agreement is the most significant acquisition Mexus Enterprises S.A. de C.V. has negotiated to date. Currently, Mexus has three geologists concentrating in this area. Preliminary findings indicate a substantial potential for large commercial development with gold values ranging from a trace to 11.5 grams per ton of ore material.

The San Felix Mine is approximately 600-1,000 feet from the Mexus–Atzek Mine facilities. Due to the close proximity of the two locations, Mexus Enterprises, S.A. de C.V. will use the Mexus–Atzek Joint Venture heap leach pads for the San Felix Mine ore. In addition, column test results and analysis of the ore will allow the excavation method used to produce ore material of 6 inch minus and placed directly on heap leach pads without further crushing or handling. There is little overburden, if any, therefore all costs associated in the process of placing this ore into production will be greatly reduced. A third party mining and equipment company will be utilized to conduct the extraction and hauling of the ore to the heap leach pads, which will be 1,000 tons per day increasing up to 6,000 tons per day. The present Mexus-Atzek facilities are capable of handling this size of mining operation without any significant expansion required.

"Acquisition of the San Felix Mine for development is a significant opportunity for Mexus Enterprises S.A. de C.V., as well as, the Mexus-Atzek Joint Venture. By all accounts, dating back to Spanish exploration, the area is rich in gold and silver potential. We are extremely pleased with this agreement," stated Paul Thompson, director and president of Mexus Gold US.

Mexus-Atzek Joint Venture

Mexus Enterprises S.A. de C.V. executed a joint venture agreement with Atzek Mineral S.A. de C.V. for the development of the Mexus-Atzek Mine. Atzek Mineral S.A. de C.V. is a gold exploration and evaluation company with properties throughout Mexico.

According to Thompson, "The joint venture with Atzek Mineral brings a team of legal, professional and security personnel, as well as expertise in all phases of mining operations. As a result of the joint venture, the company has acquired additional lands in and around the Mexus-Atzek Mine that provide strong areas of interest for exploration and evaluation in addition to our existing holdings of 1,134 acres which comprise the joint venture lands."

Current production operations began on August 21, 2013 with the initiation of spraying several heap leach pads with solution to initiate the recovery of gold and silver in approximately three weeks and thereafter. Mexus Enterprises S.A. de C.V. has been at the Mexus-Atzek Mine area since November 1, 2012.

Julio Mine

Mexus Gold Mining S.A. de C.V. is working to commence mining operations and ore processing at the Julio Mine. The mine covers 3,300 acres and includes an open pit mining operation with a heap leach facility under construction for ore extracted from the Julio vein system and an underground mining operation for deeper ore material. Current activities include the layout for the production pads, fluid collection ponds and the recovery system. The company has a diamond drill rig on location and is moving a second rig on site to identify prime areas for mining ore extraction and leaching operations.

Source: http://www.mexusgoldus.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit