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Mexican Gold's New Resource Estimate for Las Minas Project in Veracruz

Mining News - Published on Mon, 14 Oct 2019

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Mexican Gold Corp announced a new Nl 43-101 resource estimate for the Las Minas Project in Veracruz, Mexico. The resource estimate was prepared by Mine Development Associates of Reno, NV. Mr Philip O'Neill CEO of Mexican Gold said that ee are very pleased with this robust resource estimate. The block model prepared by MDA holds together very well for a skarn deposit. The level of rigor used by MDA further allows us the opportunity to potentially explore economic studies for the potential exploitation of minerals at the El Dorado and Santa Cruz zones. Our focus now shifts to our upcoming drill program at Las Minas where we hope to unlock additional value through the drill bit, especially at our highly-prospective Pueblo Nuevo and Cinco Senores targets.

• The Las Minas Project hosts 645,000 ounces of gold equivalent at an average grade of 3.674 g AuEq/t, in the Indicated category.
• The Las Minas Project hosts 217,000 ounces of AuEq at an average grade of 2.679 g AuEq/t, in the Inferred category.
• MDA prepared the Las Minas resource estimate based on potential exploitation by underground mining methods and deemed 1.5 g AuEq/t to be the appropriate cut-off grade for the resource. The resource is no longer being analyzed from an open-pit perspective.
• A new drill program exploring highly-prospective targets at Las Minas is scheduled to commence on October 15,2019.

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Posted By : Rabi Wangkhem on Mon, 14 Oct 2019
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