Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Mexus Gold U.S. (MXSG.OB) Announces Arrival of Mexus Tugboat “Caleb” and its Barge

Mexus Gold U.S. announced yesterday that the Mexus tugboat “Caleb” and its 230 foot barge arrived in Ketchikan, Alaska on October 29, 2010. It is equipped with automated cable pulling equipment and underwater electrical equipment, magtonetor, underwater cable identifier, remote cameras and a high definition scanning sensor, and a cable left buoy marking system.

By next Tuesday, November 9, 2010, Mexus Gold U.S. expects to have cable on barge deck. They will work as long as weather permits in the Alaskan waters and then move tug and barge to Washington State. The Company will be ready in early spring to start pulling cable again in the Alaskan waters and intends to pull cable 24 hours a day with two crews. This is until they have 4 million pounds of cable or a safe load for weather conditions. At that point, the barge will be off loaded, during which time the crew will have four days off. Mexus Gold U.S. expects to average two barge loads per month beginning in early spring.

CEO Mr. Paul Thompson stated, “The transport and setup of our operating equipment is an extremely essential part of our project, and now that it is accomplished, although late in the season, Mexus Gold will start to pull cable while fine-tuning our equipment and crew. We expect our project should be 100% operational by spring.”

Headquartered in Carson City, Nevada, Mexus Gold U.S. is a mining company engaged in the evaluation, acquisition, exploration, salvage and recovery of gold, silver and copper projects in the State of Sonora, Mexico, the Western United States and Alaska. Mexus Gold U.S. is dedicated to protecting the environment and providing employment and education opportunities for the communities where they operate.

Recently, the Company announced that Phase I Drilling Program budgets are being finalized for their Esmeralda County, Nevada mine project which consists of 150 acres of patented claims, 14 unpatented claims and 2 mill sites. Mexus has also filed an additional 12 mining claims adjacent to the existing lands situated in the Lida Mining District.

For more information visit:

Please see disclaimer on QualityStocks website:

Disclosure: no positions