First Mexican Gold Corp.

First Mexican Gold Corp.

January 10, 2011 10:00 ET

First Mexican Gold Corp. Begins Drilling Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2011) - First Mexican Gold Corp. (TSX VENTURE:FMG) (the "Company" or "First Mexican" or "FMG") is pleased to announce the commencement of a diamond drill program on the Guadalupe property in Sonora State, Mexico. The planned program is to drill from 8 to 10 holes between the established Karen zone and the newly identified Diana zone. 

The drilling objective on the Karen zone is to better define the previously identified high grade mineralized area that was a result of earlier rock chip sampling, soil sampling and previous drilling. Our work on Karen zone so far has lead to some interesting geological assumptions now being drill tested.

Upon completion of the Karen zone drilling, the rig will be moved approximately one kilometre northwest to the Hilda 38 concession, to the Diana zone. Our assessment of the rock chip and soil samples on this zone concludes it has the potential to host a high tonnage lower grade zone comparable to the zones that have been identified on the Santana property within 1 km to the west by neighbouring Corex Gold Corp. It's planned that an initial two or three hole program be drilled into the Dianna zone to test surface expression mineralization at depth.

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. (IMI-TSX-V).

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 regarding plans for the completion of a private placement financing and other future plans and objectives 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 market prices, 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.

Contact Information

  • First Mexican Gold Corp.
    Damien Lowry
    Toll Free: 1-800-366-8566 (Canada & USA)