Mexican GOLD Intersects Long Intervals of Mineralization IN Five Additional Diamond Drill Holes at El Dorado Dike Contact Zone
Thunder Bay, Ontario TSX-V: MEX
For Immediate Release November 23, 2017
MEXICAN GOLD INTERSECTS LONG INTERVALS OF MINERALIZATION IN
FIVE ADDITIONAL DIAMOND DRILL HOLES AT
El DORADO DIKE CONTACT ZONE
Mexican Gold Corp. ("Mexican Gold" or the "Company") (TSX-V: MEX / OTCMKTS: SRXLF
/ FRA: 4QW1 is pleased to announce that drilling to expand the high-grade dike contact
mineralization outlined in hole LM-17-ED-40 has successfully intersected long intervals of
chalcopyrite-magnetite mineralization in five additional recently completed holes. All of the holes
intersected mineralization, with core intervals varying from 21 metres to 42 metres in length. The
mineralization is located adjacent to and on both sides of the 70 metre wide dike with a known
strike distance of 700 metres. The Eldorado/Juan Bran Zone has also been found to thicken
substantially approaching the dike, which appears to be a vertical offshoot from the main El
Dorado Sill.
Highlights from the Five New Diamond Drill Holes LM -17- ED-41, 42 & 43 and LM -17-JB-
22 & 22 A
LM - 17- ED- 41 intersected 42.0 metres of chalcopyrite - magnetite mineralization
from 42.6 to 84.6 metres (see Figure 1 Core LM - 17- ED - 41)
LM - 17- ED- 42 intersected a cumulative 48 metres of chalcopyrite - magnetite
mineralization (see Figure 2 Core LM - 17- ED - 42)
LM - 17- JB-22 intersected 20.3 metres of chalcopyrite - magnetite mineralization
from 40.3 metres to 60.6 metres before being lost due to technical problems. (see Figure
3 Core LM- 17- JB - 22)
LM-17- ED-JB-22A intersected a cumulative 28.0 metres of chalcopyrite - magnetite
(see Figure 4 Core LM -17- JB - 22A)
LM- 17- ED- 43 intersected 28.0 metres of chalcopyrite - magnetite from 52.9 to 82.9
metres. The hole was drilled on the east side of the dike. (see Figure 5 Core LM -17- ED-
43)
Assay results are pending and expected to be received by mid-December.
All intervals are core lengths and are estimated to be 95 percent of true width in hole ED-41 and
+70% of true width in other holes.
Figure 1 LM - 17- ED- 41 Box 24
Figure 2 LM -17- ED- 42 Box 14
Figure 3 LM -17 - JB - 22 Box 18
Figure 4 LM -17- JB- 22A Box 09
Figure 5 LM -17- ED- 43 Box 24
Brian Robertson, President and CEO stated, “These early drill results for the dike contact zone
are extremely exciting. The drilling, which has outlined the west dike contact zone over a strike
distance of 300 metres, remains open for expansion. And we have just identified a mineralized
zone on the east side of the dike contact as well. We are continuing with step-out and infill
drilling to fully delineate the high-grade structure.”
Diamond Drill Holes LM - 17- ED- 41, LM -17- ED - 42 and LM - 17- JB - 22
Recently completed holes LM -17- ED- 41, LM -17-ED- 42 and LM -17- JB-22 & 22A extended
the dike contact mineralized zone intersected in hole LM-17-ED-40 by a further 300 metres
along strike. All of these holes are located on the west side of the dike - see Figure 6 Drill Hole
Locations.
Hole LM -17- ED- 41 (-75°) intersected a 42.0 metre interval of chalcopyrite mineralization at a
depth of 42.6 metres and continuing to 84.6 metres. The hole, which is located 108 metres
northwest of high-grade hole LM -17- ED- 40, cut both the dike contact zone mineralization as
well as the underlying flat dipping El Dorado zone.
Hole LM -17- ED- 42 was drilled as a 45 degree angle hole from the same drill pad as hole LM -
17- ED- 41. The hole cut a cumulative 48 metres interval with chalcopyrite mineralization from
37.0 m to 89.0 m. The hole cut a single wide zone of mineralization, rather than two separate
zones, indicative of a joining and thickening of the dike contact and El Dorado zones.
Hole LM-17- JB - 22 & 22A are located 233 metres northwest of hole LM – 17- ED- 40. Hole LM-
17 – JB - 22 intersected 20.3 metres of chalcopyrite- magnetite mineralization from 40.3 m to
60.6 m before being stopped at 60.6 metres due to mechanical problems. Upon re-entry, the drill
string was deflected at 31.0 metres depth due to a blockage in the hole. The deflected hole was
continued as LM-JB-22A and intersected a cumulative 28 metres of strong chalcopyrite –
magnetite mineralization followed by an additional 7.7 metres of similar mineralization.
Hole LM -17- ED - 43 was drilled to test previous indications of a mineralized zone on the east
side of the dike. A 10 metre hematite-magnetite retrograde zone strongly resembling the upper
dike contact zone in hole LM -17- ED- 40 was encountered at the dike contact, followed by a
further 28.0 metres from 54.9 metres to 82.9 metres of chalcopyrite- magnetite mineralization .
This is the longest mineralized intersection drilled to date at the El Dorado North- East
zone.
See Figures 6 & 7 for a plan view and cross section of the drilling.
Figure 6- Drill Hole Locations
Figure 7- Dike Contact Targets
Assays are uncut, length – weighted average values.
(1) Gold equivalent (Au Eq) calculations use metal prices of US $1250/oz. for gold, US $18.00/oz. for silver and
US $3.00 /lb. for copper. No adjustments have been made for potential relative differences in metal recoveries.
Au Eq g/t = Au g/t + [(Ag g/t x 0.014) + (Cu% x1.64)]
About Las Minas
The Las Minas Project hosts near-surface gold - silver and copper skarn mineralization and high
-grade gold - silver epithermal vein deposits. The project is comprised of six mineral
concessions covering approximately 1,616 hectares (3,995 acres), with several small scale,
past-producing mines and a number of untested targets.
The district has a production history that extends back to the Aztec era. The Las Minas diorite
intrusive measures approximately 10 kilometres in diameter and underlies the Las Minas
concessions. The mineralization controls and association with magnetite appear to be similar to
the Guerrero Gold belt, which is the site of the Los Filos and Morelos gold deposits.
Quality Assurance/Quality Control
The scientific and 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 for the purpose of NI 43-101. Mr. Bernales is responsible for
logistics and supervision of all exploration activity conducted by Mexican Gold on the property.
About Mexican Gold Corp.
Mexican Gold Corp. is a Canadian based mineral exploration company committed to building
long-term value through ongoing discoveries and strategic acquisitions of prospective precious
metals deposits in Mexico. Mexican Gold is exploring the Las Minas Project, which is located in
the core of the Las Minas district in the Veracruz State, Mexico. The district is host to one of the
largest under-explored skarn systems known in Mexico and has a strong production history that
dates back to the Aztec era.
For more information, please contact:
Brian Robertson, President & CEO
Phone: 807-474-4270 or 807-251-1816
Fax: 807-474-4272
E-mail: [email protected]
Website: www.mexicangold.ca
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION : This news release includes certain
information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements about the estimation of mineral resources, magnitude or quality of mineral
deposits, anticipated advancement of mineral properties or programs, future operations, results of exploration, prospects,
commodity and precious metals prices, future work programs, anticipated financial and operational results, capital expenditures
and objectives and the completion and timing of mineral resource estimates. Forward-looking information is necessarily based
upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or
implied by such forward-looking information, including the degree to which mineral resource estimates are reflective of actual
mineral resources and the risks identified in the Company's disclosure documents available at www.sedar.com. 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 information. Accordingly, readers should not place undue reliance on forward-looking information. All
forward-looking information contained in this press release is given as of the date hereof and is based on the opinions and
estimates of management and information available to management as at the date hereof. The Company disclaims any intention
or obligation to update or revise any forward-looking information, whether as a result of new information, future events or
otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.