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(Wallace Refiners) – McEwen Mining (NYSE: MUX) (TSX: MUX) today announced exploration results for the Fox mining complex in Canada, the Gold Bar mine in Nevada, and the San Jose mine in Argentina.
The company said that best drill intersects include true width intervals of 6.08 g/t Au over 25.7 m at Stock West target at the Fox mine complex, 3.40 g/t Au over 24.3 m at the Gold Bar mine, and 62.5 g/t Au & 5,571 g/t Ag over 2.0 m at the San Jose mine.
Executive VP (Exploration) Stephen McGibbon commented: “The recent drilling results from Stock West are less than 1/3 of a mile (500 m) from our Fox complex mill and are a great example of the near-term growth opportunities that will augment the company’s strategic decision-making over the next two years.”
The company said that modeling efforts indicate that mineralization shows continuity that may represent an attractive mineable body. This is being evaluated in the upcoming PEA as a potential operation alongside the Grey Fox resource.
McEwen Mining added it has committed $5 million toward drilling at the Gold Bar mine in order to delineate new mineral resources, replace mining depletion, and further de-risk the geological and metallurgical models that are the basis of future production planning. During Q1 2021, core holes drilled partly for metallurgical purposes returned strong mineralization and potentially high gold recoveries from lab-based cyanidation work.
The company noted that its joint venture partner and mine operator Hochschild Mining is undertaking a $9.3 million drill program in 2021 at San Jose, of which $5.7 million is earmarked for exploration drilling of priority targets including the Escondida. Recently, hole SJM-529 intersected 2.0 meters of Escondida vein material containing 62.5 g/t Au and 5,571 g/t Ag. Drilling will continue during the second quarter with 1,000 meters planned for resource delineation at Escondida.
McEwen Mining is a diversified gold and silver producer and explorer focused on the Americas with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina.
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