Mexus Gold US announced on Monday that Argonaut Gold has been granted a permit by SEMPRAS to start drilling at the Julio/Martha Elena property in Mexico.
“I feel as if Argonaut is ahead of schedule and am pleased with the progress to date,” President and CEO of Mexus Gold US Paul Thompson said.
Mexus is building roads and drill pads at the property, which is 54 meters northwest of Caborca, Mexico, on behalf of Argonaut. Construction began on October 16.
The Julio/Martha Elena property is located on the same trend as the La Herradura mine, and is one of the biggest open pit mines in the world.
In July, Mexus and Argonaut Gold Inc. entered into a joint venture option agreement for the Julio/Santa Elena property, which has drill results that show a high-grade, multi-vein system on the property.
“I’m extremely confident that Argonaut’s drill results will confirm what our own geologists had found,” Thompson said. “These initial drill results should be released later this quarter and I fully expect Argonaut to exercise its extension of the option into next year. Our company has a great partner to move forward with and we are just beginning to unlock the true value of this property and others that we control.”
