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Firma's Grace Point Mining Corp and MX Gold Corp Advance Magistral Project

VANCOUVER, B.C., March 29, 2017 (GLOBE NEWSWIRE) -- MX Gold Corp. (MXL.V) (FSE:ODV) (MXLGF) (“MX Gold” or the “Company”) is pleased to announce that the Magistral Management Committee, which manages the Company’s partnership with Firma Holdings Corp. (FRMA) through its subsidiary Gracepoint Mining Corp., has hired a Project Manager, completed internal project assessments and formally engaged the mining construction firm “Componentes Mineros” for a turn-key supply and installation of a 1,000 tonne per day (tpd) Merrill Crowe processing plant at Magistral.

To lead the partnership, the Project Management Committee hired Benitzel Ávila Sanchez as the Magistral Project Manager. Mrs. Sanchez is a chemical engineer with extensive mining experience who has been previously employed in several key management positions, including various positions at Alamo Gold’s 18,000 tpd Mulatos Mine from 2007-2014. More recently Mrs. Sanchez has been a consultant on various projects worldwide.

Management is very pleased with Mrs. Sanchez’s efforts to date in determining the best path forward for the Magistral Project. From November 2016 to January 2017, under her supervision, the Magistral Project in Durango has:

  • Initiated the operation to process the tailings stock.
  • Evaluated the current condition of the beneficiation plant.
  • Undertaken further metallurgical testing of the ore (tailings).

Coinciding with the civil work and additional plant construction, some of which has already begun, the Company is in the process of submitting the necessary permits and approvals that will cover the new plant design. The construction process is forecast to be 80% completed by September 2017, with the remaining 20% to be completed after the new permit has been received. It is expected that the plant can be completed and commissioning can begin in January 2018.

A historical estimate was completed by Corporation Ambiental de Mexico SA de CV on Jan. 20, 2012, titled “Perforacion y Muestreo en Presa de...