First Mexican Gold Corp. Acquires Contiguous Land
January 18 2011 - 8:15AM
Marketwired
First Mexican Gold Corp. (TSX VENTURE: FMG) is pleased to announce
that it has added to its property package in the Guadalupe - Santa
Anna area of Sonora State, Mexico. The Company's property package
(known as Guadalupe Property, 1498 hectares) is contiguous to Corex
Gold Corp.'s Santana Property where consistently good exploration
results have been demonstrated.
To date, First Mexican exploration programs have focused on
extensive soil and rock chip sampling across a large area of the
Guadalupe property (Hilda's 30, 31, 32, 37, 38) plus some limited
drilling. Precious metal results to date have been very encouraging
and support the company's view of the positive exploration
potential of this prospective gold/silver bearing area. The company
recently announced commencement of a 1250 metre, 8 to 10 hole
diamond drill program (January 10, 2011) and is continuing with
soil and rock chip sampling including mapping of occurrences.
The property acquired, Santa Martha, consists of one claim which
is contiguous to both Hilda 30 and 31/32 properties. The property
consists of 68 hectares and has historically been mined for both
copper and gold/silver on a small scale. Soil and rock chip
sampling is planned in the near future beginning at the historic
copper mine on the property which is referred to as the "Bailey
zone". This acquisition brings the First Mexican Gold Corp. total
land holdings in the area to 1566 hectares.
Based on a recent visit to the Bailey zone the current drill
program has been extended to include at least one initial drill
hole intended to intersect the historic mine workings at depth.
Inspection of a small amount of bagged broken rock at the entrance
of the adit has shown an interesting display of azurite laden rock
which will be the targeted rock of this drill hole. A road to
access the site is being built and mapping of the area has
begun.
Terms of the acquisition are a onetime payment of US$50,000.00
for a 100% ownership of this claim by the joint venture
partners.
First Mexican Gold has also issued 100,000 options to
consultants of the Company.
First Mexican Gold Corp. is an active explorer for precious
metals in Mexico and holds an option to acquire 80% interest in the
Guadalupe property package from (MIMSA) a wholly owned subsidiary
of International Millennium Mining Corp.
On behalf of the Board of Directors,
Jim Voisin, President & CEO
First Mexican Gold Corp.
We seek safe harbour.
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release, including, without limitation,
statements relating to the potential mineralization and geological
merits of the Guadalupe property and other future plans, objectives
or expectations of the Company are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's plans or expectations
include risks relating to the actual results of current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time
to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation.
Contacts: First Mexican Gold Corp. Jim Voisin President &
CEO Toll Free: 1-800-366-8566 (Canada & USA)
www.fmgoldcorp.com
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