Mexus Gold US San Felix Mine Update
CARSON CITY, Nev., Sept. 18, 2013 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG), 50% owner of Mexus Enterprises SA de CV, releases cost projections per ounce gold equivalent mined from the San Felix Mine.
Mexus Enterprises can now project costs per ounce gold equivalent. Based upon using an experienced and well equipped mining contractor at a rate of $2.09 USD per ton. These cost projections are based on information contained in an August 2013 report by geologist Ing. Javier Martinez which Mexus Enterprises published September 16, 2013. This report indicates the gold and silver content is considered to be 1.23 grams of gold with a 70% recovery of 0.86 grams of gold and 24.60 grams of silver with a 70% recovery of 17.32 grams of silver per ton of ore. Based upon a stable production of 3,000 tons of ore a day, Mexus Enterprises anticipates 108.60 ounces gold equivalent per day. At 3,000 tons of ore per day production, Mexus Enterprises can make the following cost projections:
| Established daily direct costs to produce: | $ 20,246.07 |
| Contract miner at $2.09 per ton: | $ 25,080.00 |
| Contingency: | $ 4,682.61 |
| Total projected mining costs for 3,000 ton: | $ 51,508.68 |
| Gold equivalent ounces per day: | $ 108.60 |
| Projected cost per gold ounce equivalent: | $ 474.30 |
| Gross sales per day: | $141,179.31 |
| Projected net per day ($1,300 gold & $20.00 silver) | $ 89,670.63 |
The Mexus Enterprises existing 1,600 gpm gold recovery plant has the capacity to handle 6,000 tons per day production.
The 3,000 tons per day is considered to be a start up amount. Mexus Enterprises has a target production rate of 6,000 tons per day. At the 6,000 tons per day, Mexus Enterprises can project a gold equivalent recovery of 217.20 ounces per day with a gross sales amount of $282,358.62, a projected net per day of $202,577.33, and a projected cost per gold ounce equivalent of $367.17.
The above figures are based upon gold sales of $1,300 per ounce and silver sales of $20 per ounce.
About Mexus Gold US (OTCQB:MXSG)
Mexus Gold US is a gold, silver and copper exploration company focused on projects in the Western United States and Northern Mexico. Mexus Gold US and its subsidiaries Mexus Enterprises S.A. de C.V. and Mexus Gold Mining S.A. de C.V. have several mining operations in Mexico. Mexican operations include the San Felix Mine; the Mexus-Atzek Mine, a joint venture agreement with Atzek Mineral S.A. de C.V.; the Julio Mine and other prospective areas awaiting additional exploration and evaluation. Mexus Gold Mining S.A. de C.V. and Mexus Enterprises S.A. de C.V. employ over 60 people and utilize third-party consultants and geologists to assess its mining exploration and operations for gold and other precious metal values. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates. For more information on Mexus Gold US, visit mexusgoldus.com.
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
Paul Thompson CEO/President
(775) 721-9960
Mexusgoldus@aol.com