Mexican Gold Provides an Update on Drilling at Las Minas
VANCOUVER, British Columbia, Nov. 01, 2019 (GLOBE NEWSWIRE) -- Mexican Gold Corp. (the “Company” or “Mexican Gold") (TSXV: MEX) is pleased to provide an update on its current drill program at the Las Minas project in Veracruz, Mexico.
Highlights:
- 655 metres have been drilled over 5 holes to date
- The first 3 holes of the program tested for mineralization at the El Dorado zone
- LM-19-CS-13, the 4th hole, was drilled to 261 metres and tested a significant electromagnetic anomaly which is coincident with a km-scale zone of argillic alteration and strong pyrite enrichment with local indications of molybdenite, sphalerite, and galena.
- LM-19-LM-03, currently at 124 metres, is the 5th hole of the program and is being drilled to test a 350-metre extension of the prominent electromagnetic anomaly north of hole LM-19-CS-13. The entire anomaly lies on strike with the core of the El Dorado zone resource.
Philip O’Neill, Chief Executive Officer of Mexican Gold, stated, “We are very pleased with the start of the drill program at Las Minas. Beyond the first 3 holes which were spotted to infill gaps in the El Dorado zone where the sparseness in the pattern of previous drilling would have statistically degraded the resource, we are very happy to be testing new targets at Las Minas. Hole LM-19-CS-13, the first hole drilled in the program to test a new target, intersected an elevated intensity of alteration within an 80 metre shear zone (>50 metre interpreted true width) with up to 10% disseminated and nodular replacement pyrite, quartz and gypsum stringers, pervasive argillic alteration, and scattered molybdenite.”
The Company expects to drill approximately 3000 metres before the 2019 program ends in mid-December.
Qualified Person
The technical information in this news release has been reviewed and approved by Sonny Bernales, P. Geo., a registered Professional Geoscientist in the Province of British Columbia and a qualified person as defined by NI 43-101.
About Mexican Gold Corp.
Mexican Gold Corp. is a Canadian based mineral exploration and development company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals and copper projects in the Americas. Mexican Gold is exploring the Las Minas Project, which is located in the core of the Las Minas mining district in Veracruz State, Mexico, and is host to one of the newest, under-explored skarn systems known in Mexico.
For more information, please contact:
Philip O’Neill – CEO, President, and Director
E-mail: info@mexicangold.ca
Website at www.mexicangold.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Mexican Gold within the meaning of applicable securities laws, and with respect to the proposed Offering and proposed use of proceeds. Mexican Gold provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to completion of Offering, exploration findings, results and recommendations, as well as those risks and uncertainties identified and reported in Mexican Gold’s public filings under Mexican Gold’s SEDAR profile at www.sedar.com. Although Mexican Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Mexican Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
