Mexican GOLD Samples 81.3 G/T GOLD, 91.1 G/T Silver and 17.1% Zinc over 0.20 Metres at Newly Discovered Pueblo Nuevo Vein
Thunder Bay, Ont. TSX-V: MEX
For Immediate Release July 10, 2018
MEXICAN GOLD SAMPLES 81.3 G/T GOLD, 91.1 G/T SILVER AND
17.1% ZINC OVER 0.20 METRES AT NEWLY DISCOVERED PUEBLO
NUEVO VEIN
Mexican Gold Corp. ("Mexican Gold" or the "Company") ( TSX-V: MEX/ OTCQB:
MEXGF / FRA: 4QW1) is pleased to announce that its on-going field exploration program
at Pueblo Nuevo continues to yield high- grade sampling results. Recent assays from
sampling of newly discovered surface outcrops and historical mines include:
• 81.3 g/t Au + 91.1 g/t Ag + 17.1% Zn over 0.20 metres
• 25.2 g/t Au + 165.8 g/t Ag over 0.15 metres
• 29.5 g/t Au + 95.5 g/t Ag + 8.5% Zn over 0.20 metres
The 2018 fieldwork has focused on two extensive mineralized zones of historical mining
importance: gold-bearing quartz vein deposits at Pueblo Nuevo and the gold skarns of
Changarro. With 26 workers and three geologists on site, the company has been making
significant progress investigating these previously under-explored areas.
As detailed in earlier press releases (see press releases May 31, 2017, March 27, 2018,
April 18, 2018) multiple lost historical mines and workings have been discovered along
with many new veins and mineralized showings in a mineralized corridor extending up to
600 metres along strike and contained within a 400-metre-wide shear zone.
See Figure 1 below for a plan view of the Pueblo Nuevo vein deposits and mineralized
zones at Las Minas, including the El Dorado/ Juan Bran and Santa Cruz resource
outline.
Figure 1 Plan of the Las Minas Area Showing 2018 Surface Exploration Zones
Brian Robertson, President & CEO, stated, “Our on-going field exploration work continues
to deliver high-grade assays from historical mines and well as new discoveries within the
Pueblo Nuevo mineralized corridor. These results from several high - grade veins clearly
demonstrate the extent of the high- grade mineralization at Pueblo Nuevo.”
Pueblo Nuevo
Multiple new vein occurrences have been discovered in the Pueblo Nuevo Valley
structural corridor, located to the east and parallel to the La Miqueta structure. The area
of the Valley carrying mineralized quartz veins now has a demonstrated width of at least
400 metres Several high-grade results from initial sampling, spread over more than 600
metres of strike length, will be investigated further. Selected results are in Table 1
below.
Table 1 Selected Surface and Underground Sample Results from Newly
Discovered Veins
Location Northing Easting
Width
(M)
Sample
# Au g/t Ag g/t Zn %
Espiritu 693134.6 2181512.8 0.40 11811 3.26 651.82 0.71
Espiritu 693138.9 2181519.5 0.30 11814 4.97 57.70 0.99
Vein in
Float Above Ramos vein 0.20 11830 29.47 95.50 8.52
El Cajon 693068.5 2181345.9 0.12 11846 2.33 12.30 0.20
El Cajon 693075.3 2181350.3 0.12 11847 4.06 15.90 1.78
El Cajon 693075.9 2181351.2 0.12 11848 1.95 4.00 0.26
Tiro vein 693484.0 2181693.0 0.60 11762 2.88 79.60 0.13
2 Rios x-
vein 693159.5 2181321.3 0.3 11764 2.40 25.50 0.12
Mina Vidal 693540.0 2181699.0 0.30 11771 2.84 0.30 0.01
Encantada 693078.0 2181673.0 0.15 11772 1.85 27.50 3.80
River vein 693150.7 2181288.9 0.15 11773 25.21 165.74 0.21
Marangola 693060.3 2181157.4 0.20 11776 6.17 62.30 0.15
New Veins 693189.1 2181533.0 0.20 11777 81.31 91.10 17.10
Figure 2 Sampling in the Pueblo Nuevo Valley Area
Tamiagua South Mine
A typical continuous quartz vein in the newly discovered Tamiagua South Mine was
sampled at 3 metre intervals over 69 metres of its length. The vein averaged 0.51 metres
in width and yielded an average of 5.97 g/t Au, 45.4 g/t Ag and 1.85% Zn from 23
samples. Complete sample results for Tamiagua South are shown below in table 2. As
part of ongoing work at Pueblo Nuevo, the vein will be uncovered south of the mined area
to extend its sampled strike length.
Table 2: Chip Sampling Intervals on Tamiagua South Vein
Northing Easting
Width
(M)
Sample
# Au g/t Ag g/t Cu % Pb % Zn %
693137.5 2181568.5 0.30 11741 0.37 4.20 0.02 0.09 0.34
693137.5 2181568.5 0.43 11744 7.87 74.20 0.35 0.03 3.50
693136.9 2181612.8 0.40 11747 0.96 20.80 0.03 0.15 0.75
693136.9 2181612.8 0.60 11750 0.19 2.40 0.01 0.02 0.17
693136.9 2181612.8 0.60 11753 1.30 32.90 0.08 1.18 1.62
693136.9 2181565.5 0.30 11756 6.14 59.70 0.36 0.86 5.35
693136.9 2181565.5 0.50 11759 19.18 229.00 0.11 0.35 2.25
693136.9 2181565.5 0.30 11765 4.33 29.90 0.15 0.10 1.10
693136.4 2181562.6 0.40 11768 1.53 72.30 0.40 0.04 0.35
693136.4 2181562.6 0.15 11778 16.17 101.38 0.63 0.02 14.60
693136.4 2181615.7 0.60 11781 3.41 16.30 0.07 0.01 1.32
693136.4 2181615.7 0.80 11784 3.18 17.30 0.13 0.01 3.46
693136.4 2181615.7 0.80 11786 1.89 15.90 0.03 0.02 1.25
693135.9 2181618.7 0.80 11788 0.26 4.50 0.03 0.01 0.89
693135.9 2181618.7 0.50 11790 0.04 1.20 0.00 0.02 0.16
693135.9 2181618.7 0.50 11792 0.02 1.30 0.00 0.01 0.05
693135.3 2181621.6 0.40 11794 4.11 22.10 0.03 0.01 0.17
693135.3 2181621.6 0.45 11796 19.41 148.25 1.48 0.05 0.83
693135.3 2181621.6 0.60 11798 19.26 70.30 0.15 0.03 2.29
693134.8 2181624.6 0.75 11800 0.54 17.10 0.01 0.84 0.77
693134.8 2181624.6 0.75 11803 10.12 30.50 0.12 0.03 0.18
693134.8 2181624.6 0.35 11806 4.05 30.90 0.09 0.03 0.65
693134.3 2181627.5 0.35 11809 12.87 41.50 0.07 0.04 0.39
Average 0.51 5.97 45.39 0.19 0.17 1.85
Assays are uncut.
(1) Information Regarding NI-43-101 Initial Mineral Resource Estimate
In 2017, the Company reported an initial mineral resource estimate of 304,000 gold
equivalent ounces (Au Eq ozs)(3) contained within 4,970,000 tonnes grading 1.90 g/t Au
Eq (0.92 g/t Au, 0.59% Cu. 4.37 g/t Ag) in a Measured and Indicated category for the
Eldorado/ Juan Bran and Santa Cruz zones , with an additional Inferred Resource of
719,000 Au Eq ozs contained within 10,304,000 tonnes grading 2.17 g/t Au Eq.( 1.08 g/t
Au, 0.66 % Cu, 3.99 g/t Ag) (reported in the Company’s news release dated August 1,
2017, and the 43- 101 report titled “NI 43 - 101 Technical Report Mineral Resource
Estimate Las Minas -Gold-Copper project”, John T, Boyd Company, Mining and
Geological Consultants, Denver, Colorado, USA, Report No “3830.001“ dated
September, 2017, prepared by John J. Read, P. Geo., Q.P. and Sam J. Shoemaker Jr.,
Registered Member S.M.E, Q.P.) The report is available on SEDAR.
About Pueblo Nuevo
The Pueblo Nuevo veins show characteristics of mesothermal quartz veins. The veins
are generally 20 to 70 cms in width, strike NNE with sub-vertical dips and show no post-
mineral deformation – see Figure 2 below . The dioritic wall rock hosts argillic alteration
and sulphides (generally pyrite and marmatite) over a few cms to one metre on each side
of the veins. Wider zones of multiple, parallel quartz veinlets and high- grade cross -
structure veins have recently been found in some areas.
Most of the mines within the area are within the Las Minas diorite sill below the contact
with the ubiquitous overlying carbonate rocks, but the largest mine resides in altered
carbonates above the contact. The La Miqueta mine, which has 21 known levels, lies
within a 400-metre-wide zone of quartz-biotite schist developed within silicified limestone
About Las Minas
The Las Minas Project hosts near -surface gold, silver and copper skarn mineralization
and high-grade gold - silver mesothermal 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 is host to a large gold, silver and copper skarn system that 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 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. Mr. Bernales is responsible for
logistics and supervision of all exploration activity conducted by Mexican Gold on the
property.
Where possible, veins and exposed mineralization are sampled as composite channel
samples. The channel samples are cut right-angled to the strike of the veins and average
5 to 6 kilograms in weight. Channel samples are most representative of the sample types
followed by grab and select samples. Assays are uncut.
The Company has implemented and adheres to a strict Quality Assurance/Quality Control
program which includes inserting mineralized standards and blanks into the sample
stream, about 1 for every 10 samples. The standards and blanks were obtained from CDN
Resource Laboratories Ltd. of Langley, BC, Canada. Each sample bag is properly sealed
and kept in a secured, restricted storage place prior to shipping to the lab. Samples are
shipped directly by Mexican Gold or picked- up by the lab vehicle with chain of
custody/sample submittal signed and dated. The Company sends its samples to SGS
Mineral Services (ISO/IEC 17025) at Durango, Mexico, an accredited and independent
laboratory.
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 and copper deposits in Mexico. Mexican Gold is exploring
the Las Minas Project, which is located in the core of the Las Minas mining district in the
Veracruz State, Mexico, and is host to one of the largest under -explored skarn systems
known in Mexico. For more information, please contact.
Brian E. Robertson, P. Eng., President & CEO
Phone: 807-474-4270 or 807-251-1816
Fax: 807-474-4272
E-mail: [email protected]
Website at 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 magnitude or quality of mineral deposits, anticipated advancem ent 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 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 upon 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 o r 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 the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.