Mexican GOLD Announces 3,000 Meter Drill Program and Exploration Plans FOR 2019
Vancouver, BC TSX-V: MEX
For Immediate Release September 27, 2019
MEXICAN GOLD ANNOUNCES 3,000 METER DRILL PROGRAM AND EXPLORATION
PLANS FOR 2019
Mexican Gold Corp. (the “Company” or “Mexican Gold") (TSXV: MEX) is pleased to announce it
will embark on an aggressive exploration and drilling program for the remainder of 2019 to
explore highly prospective targets at its Las Minas Project.
Highlights:
• A planned 3000-meter drill program designed to test 4 prospective targets and 2
geological concepts
• Drilling is set to commence in mid-October
• The 4 targets being drilled are Pueblo Nuevo, the Cinco Senores TEM Anomaly, Las
Minillas, and El Dorado
• The 2 geological concepts being drilled are the potential for skarn mineralization, Sub-Sill
and at the Mancuerna Dike Swarm
Drilling Overview
Surface work at Pueblo Nuevo in 2018 uncovered multiple gold-bearing quartz veins with very
high values. Mineralized veining continues over hundreds of metres of strike and vertical extent.
See Fig. 1. These high grades make the Pueblo Nuevo target a priority for diamond drilling in
2019. The initial targets will include cross structures near the historic Dos Rios mine and
multiple parallel veins near the Tamiagua mines. Drilling is also planned in the area of the old
Miqueta mine located 400m to the west of the valley which will provide 600m of cross-section
analysis.
Cinco Senores lies on the same favourable sill contact that hosts the El Dorado skarn deposit.
Extensive historic mining, high grade surface samples, and several promising drill intersections
make this a compelling target. Much of the valley around Cinco Senores is overburden-covered
and remains unexplored and untested for mineralization. A reinterpretation of the 2017 TEM
survey places a strong conductive anomaly over the northern part of Cinco Senores which
appears to continue 500m north toward Las Minillas. This anomaly may represent an
accumulation of mineralization on the upper or the lower contact of the El Dorado sill.
Las Minillas is home to one of the largest historic mines in the area. The Las Minillas target has
only seen 2 short drill holes so far as the underlying geology was previously not well understood.
Reprocessing of a detailed magnetic survey on orthogonal lines from 2017 delineates the
interactions of the El Dorado sill and a NNW trending dike, analogous to the rich El Dorado dike
contact. Several holes are planned to test the dike contacts in 2019.
Wide hole spacing in certain pockets of the known resource at El Dorado presents an
opportunity to add ounces to the resource by way of additional drilling to bridge the statistical
correlation. The Company has identified 3 pockets that will see one drill hole each in order to
potentially add mineralization at El Dorado.
Geological Concepts:
Skarn deposits are known on the upper contact of the El Dorado sill. Related deposits are often
known to host significant skarn mineralization on the lower contacts as well. New evidence
suggests that the El Dorado sill has a thickness of approximately 200m which makes the use of
geophysical data and drilling feasible. Drilling is planned for 2019 to test the lower sill contact in
areas where there are geological or geophysical features of interest. These include deep-seated
TEM conductors and a 3km long zone of pyrite + argillic alteration with sporadic gold content in
the sill which lies along a major regional fault.
A large volume of intrusive rock, essentially identical to the El Dorado sill, underlies a 3.5 km X 1
km portion in the south-east portion of Mexican Gold’s large concession that hosts all of its
current mineralization. This area had been variously interpreted as part of a stock or as a dike
swarm. Detailed mapping in 2018 identified skarn between E-W trending dikes, confirming the
latter interpretation. The Santa Cruz Au-Cu resource has already been attributed to E-W dikes at
the edge of this intrusive system. As Santa Cruz is believed to have totalled over 10 million
tonnes pre-erosion, the search for further deposits of this type is warranted and some initial
exploratory drilling is planned for 2019.
Fig. 1 – Pueblo Nuevo Target
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: [email protected]
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.