With all the statements about how being a Mexican is not such a good thing to be in this world – what with U.S. President Trump hiking tariffs on Mexican goods – it was encouraging to hear what a miner out of the town of Caborca had to declare Monday.
Mexus Gold US (OTC:MXSG) announced that blast hole drilling continues on the Julio vein system at its Santa Elena mine. More than 150 holes, at depths from four to eight metres, have been drilled covering 240 metres in length along the one- to five-metre-thick quartz vein coincident with a flat- east dipping trust structure.
All holes are being hand sampled and composited in groups of five to six holes for gold and silver presence in addition to grade control. A news release out Monday said approximately 5,700 tons of high-grade quartz vein material are to be broken on site and hauled to the crushing and leaching site.
The estimated grade for this material is in the order of 5 to 10 g/t Au and 9 to 12 g/t Ag. In addition, Mexus is testing and pilot processing material from the adjacent shear zone which is averaging 1.8 g/t Au and 7 g/t Ag.
Mexus shares poked up seven-100ths of a cent by noon ET on Monday, or 8.8%, to 87-100ths of a cent, on volume surpassing 639,000