OTCWagon Issues an update on Mexican Gold Mining (TSX-V: MEX/MEXGF)
By: John - IT Staff
Upon COVID-19 direction from the Mexican federal government and the state of Veracruz, and through consultations with the municipality of Las Minas, Mexican Gold Mining Corp. will commence operations at the Las Minas project in July of 2020 with the goal of having all the inputs for a preliminary economic assessment study completed by the end of the year.
• Achieving all necessary inputs for a PEA study with a planned release in Q1 2021;
• Resource expansion drilling at El Dorado and Santa Cruz;
• Further upgrading of inferred resource tonnage to the indicated tonnage category;
• A comprehensive metallurgical study to build on the positive metallurgical results from 2015 and to refine process parameters;
• An environmental baseline study to support continuing advancement of the project toward a potential development scenario;
• A LiDAR survey to produce the most accurate possible digital terrain model for the planning of surface works, infrastructure and near-surface ore profiles for the PEA;
• Exploration drilling to follow-up the new gold discovery (November 2019) at the Cinco Senores target;
• Exploration drilling at the Changarro target to incorporate the first-ever geological model in the area, built on extensive recent surface work and new, high-grade assays.
"With the ability to recommence work at Las Minas in this COVID-19 environment, we are very excited to embark on achieving the preliminary economic assessment milestone at the Las Minas project," stated Philip O'Neill, chief executive officer. "We feel confident that a technical study that takes into account the economics surrounding the mineral resource at El Dorado and Santa Cruz will yield high-value economic metrics for the project. With our history in the Las Minas area and our long-standing ties to the community, we are committed to working closely with all stakeholders in Las Minas to minimize the risks associated with the COVID-19 virus."
John - IT Staff