Mexus Gold US announced today that progress at the San Felix is being made. Paul Thompson stated, "We have a couple of options we are looking at for the San Felix project both of which will be extremely beneficial to the long term outlook of the company."
On December 21 and 22, Mr. Thompson met with four representatives from a Nevada mining company. There are currently six parties negotiating for the San Felix property.
One option will be to commence additional drilling to establish a reserve value which the company believes could be as much as 1 million ounces. This belief is based on historical data as well as preliminary drill results produced by our geologist. A drilling program would allow a 43-101 proven reserve value to be established for this property.
Update on Julio/Santa Elena
Our crew has been working at our goal of doubling our placer production by moving the plant to a new location to give us needed area to expand as we have out grown our present location. We have located a suitable area approximately 1,000 feet to the North and our expansion of the placer goes with our high grade gravity mill and underground mine as well as developing an additional water source for our future open pit heap/leach project. Our open pit mining will start with the mining of the exposed veins, Julio/Santa Elena, of known values originally shown by our geologist Cesar Lemas report.