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Be the first with the news that moves the market- Mexican Gold Mining (TSXV:MEX) has announced operations at the its Las Minas project will restart in July this year
- The junior gold explorer has received the go-ahead from the Mexican Federal Government, as well as the State Government of Veracruz and the Municipality of Las Minas
- The company is going to re-start operations with a 3000-metre drill program at the site
- The program will build on exploration already been conducted on the site, focusing on the El Dorado vein
- Mexican Gold Mining (MEX) is up 12.5 per cent and is trading at C$0.09 per share, with a market cap of $11 million
Mexican Gold Mining (TSXV:MEX) has announced operations at the its Las Minas project will restart in July this year.
The junior gold explorer has received the go-ahead from the Mexican Federal Government along with the State Government of Veracruz and the Municipality of Las Minas.
Previously, work was suspended at the site due to wide-spread COVID-19 quarantine measures, which were implemented across Mexico.
The company is hoping to complete the necessary exploration work for its preliminary economic assessment before the end of 2020.
To achieve this aim, the company is embarking on a 3000-metres drill program to expand the current resource at site’s El Dorado deposit.
Previous drilling at Cinco Senores had targeted the El Dorado mineralized horizon, at least 70 metres above this intersection.
Drilling in 2020 will attempt to define the veining and intersect further strong gold values on the vein.
The company’s CEO, Phillip O’Neill said the company’s ability to recommence work at Las Minas was an exciting step towards achieving its preliminary economic assessment milestone.
“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 minimise the risks associated with the COVID-19 virus” he said.
Mexican Gold Mining (MEX) is up 12.5 per cent and is trading at C$0.09 per share at 1:44 pm EDT.
