McEwen Mining: Exploration @ Fox
21 December 2021 - 11:06AM
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is
pleased to announce that drilling continues to deliver good widths
and grades at the Fox Complex, both from exploration at Stock and
delineation at Froome.
Highlights include:
- Assay results show
the potential of the Stock mineralized zones to extend to depth and
down plunge. What has been outlined to date will contribute to our
immediate growth plans.
- Drilling is planned
for 2022 to investigate the intercept in hole
S21-202, which encountered 21
meters (m) of 4.29 g/t gold. If this
intercept connects to mineralization at Stock West, it will
materially enlarge the boundaries of the Stock West system.
- Assay results are
starting to arrive from our exploration on Stock Main (the historic
Stock mine). Visible gold has been noted in several drill cores,
such as in hole SM21-024 that returned 9.1
m of 7.43 g/t gold including 2.6
m of 23.72 g/t gold, within 25 m of
surface.
Stock West & Main
Drill results from holes
S21-202 (released on Nov. 3, 2021) and
S19-95 (released on Sep. 4, 2019 - 7.0
m (core length) of 27.2 g/t gold) confirm
that mineralization remains open to depth and the east (see
Figure 1). The intercept in S21-202 is an over 200
m step-out along a prominent shallow eastern plunge from
mineralization at Stock West. The current geologic interpretation
suggests a possible connection of a further 250 m to the intercept
in hole S19-95.
The host lithology of the Stock West
mineralization, which also occurs in hole S21-202, was recently
intersected in the footwall of the Stock mine. These observations
support our confidence that the property is early in its discovery
phase of development.
Forty-six surface drill holes were completed at
Stock West (see Table 1) and Stock Main (see
Table 2) since the last exploration update in May
2021.
Progress made at the Stock Property in 2021 will
be reflected in the pending Preliminary Economic Assessment (PEA)
for the Fox Complex, which is currently being finalized for
publication.
Figure
1: https://www.globenewswire.com/NewsRoom/AttachmentNg/95d0f9b3-13f4-4fd0-9caf-b122f557cc91
Froome Mine
The best new result is 20 m (true width) of 7.43 g/t
gold – Hole 200-F085-14
Three hundred and seventeen underground drill
holes were completed for delineating the Froome orebody during 2021
(see Table 3). The Froome mine, while
only a short distance from the Black Fox mine, is different in
important ways that offer several advantages, such as a straighter,
shorter, and more efficient underground haulage route, and wider
more consistent mineralization that is amenable to lower-cost bulk
mining methods. Mining started earlier this year and has been
meeting expectations on key ore quality indicators such as gold
grade, dilution, and total ounces produced.
Delineation drilling has expanded the deposit
further to the west than previously designed, giving the Fox
Complex team confidence that the Froome mine life will be extended.
2022 diamond drilling will focus on resource expansion at depth to
extend the Froome mine life (see Figure 2).
Figure
2: https://www.globenewswire.com/NewsRoom/AttachmentNg/58d45f1d-5925-4fb2-9df1-5ac9cd0f7f1a
Table 1 – Stock West selected highlight drill
intercepts
Hole-ID |
From (m) |
To (m) |
Core Length(m) |
True Width(m) |
Au(g/t) |
S21-167 |
533.0 |
537.2 |
4.2 |
3.6 |
11.77 |
S21-168 |
582.0 |
604.0 |
22.0 |
19.2 |
1.63 |
S21-169 |
620.0 |
626.0 |
6.0 |
5.3 |
5.38 |
S21-171 |
507.0 |
527.0 |
20.0 |
19.0 |
4.87 |
S21-173 |
631.0 |
643.0 |
12.0 |
11.2 |
3.43 |
S21-174 |
603.0 |
614.0 |
11.0 |
8.8 |
3.37 |
|
622.0 |
637.0 |
15.0 |
12.0 |
2.83 |
including |
628.0 |
633.0 |
5.0 |
4.0 |
6.27 |
S21-174W1 |
578.5 |
628.0 |
49.5 |
42.2 |
2.90 |
including |
589.6 |
597.3 |
7.7 |
6.6 |
5.11 |
|
601.9 |
609.2 |
7.3 |
6.3 |
7.37 |
S21-175A |
661.0 |
675.0 |
14.0 |
12.6 |
3.22 |
S21-176 |
474.0 |
484.0 |
10.0 |
8.5 |
4.51 |
including |
475.0 |
480.0 |
5.0 |
4.2 |
7.28 |
S21-178A |
602.0 |
605.0 |
3.0 |
2.4 |
9.36 |
including |
602.0 |
602.9 |
0.9 |
0.7 |
26.30 |
S21-179 |
451.6 |
464.0 |
12.4 |
11.5 |
2.08 |
S21-180 |
645.9 |
656.1 |
10.2 |
9.8 |
2.70 |
S21-181A |
450.4 |
480.6 |
30.3 |
25.2 |
3.84 |
including |
450.4 |
471.0 |
20.7 |
17.2 |
5.26 |
S21-182A |
511.7 |
522.0 |
10.3 |
8.8 |
4.35 |
|
539.8 |
543.0 |
3.2 |
2.7 |
12.09 |
including |
539.8 |
540.5 |
0.7 |
0.6 |
44.50 |
S21-185 |
487.1 |
499.0 |
12.0 |
10.2 |
2.99 |
S21-191 |
458.2 |
477.0 |
18.8 |
17.1 |
3.27 |
S21-192 |
638.0 |
643.3 |
5.3 |
5.0 |
7.92 |
including |
640.0 |
641.0 |
1.0 |
0.9 |
23.90 |
S21-202 |
763.2 |
787.0 |
23.8 |
21.0 |
4.29 |
Table 2 – Stock Main selected highlight drill
intercepts
Hole-ID |
From (m) |
To (m) |
Core Length(m) |
True Width(m) |
Au (g/t) |
SM21-001 |
530.8 |
534.9 |
4.1 |
3.5 |
5.60 |
including |
530.8 |
531.8 |
1.0 |
0.9 |
18.90 |
SM21-002W1 |
521.0 |
531.0 |
10.0 |
8.4 |
4.07 |
including |
528.0 |
528.9 |
0.9 |
0.8 |
32.00 |
SM21-007A |
520.8 |
522.9 |
2.1 |
1.8 |
17.76 |
including |
520.8 |
522.0 |
1.2 |
1.0 |
27.80 |
SM21-008 |
465.0 |
478.0 |
13.0 |
9.1 |
3.29 |
SM21-016W1 |
287.0 |
290.0 |
3.0 |
2.2 |
14.92 |
including |
288.0 |
289.0 |
1.0 |
0.7 |
41.50 |
SM21-024 |
22.9 |
33.9 |
11.0 |
9.1 |
7.43 |
including |
23.9 |
27.0 |
3.1 |
2.6 |
23.72 |
Table 3 – Froome Mine
selected highlight drill
intercepts
Hole-ID |
From (m) |
To (m) |
Core Length(m) |
True Width(m) |
Au (g/t) |
20PR-G349 |
224.1 |
244.7 |
20.6 |
15.8 |
6.19 |
|
255.0 |
275.0 |
20.0 |
15.5 |
6.46 |
195-L160-13 |
82.9 |
97.3 |
14.4 |
11.6 |
9.03 |
including |
84.0 |
86.0 |
2.0 |
1.6 |
22.78 |
195-L160-17 |
81.0 |
91.0 |
10.0 |
8.1 |
6.45 |
200-F023-25 |
27.0 |
30.6 |
3.6 |
3.0 |
6.49 |
200-F023-26 |
26.9 |
33.1 |
6.2 |
5.7 |
4.78 |
200-F025-20 |
27.5 |
54.0 |
26.5 |
18.5 |
7.92 |
including |
46.0 |
52.0 |
6.0 |
4.2 |
17.42 |
200-F025-21 |
37.0 |
54.0 |
17.0 |
14.1 |
5.44 |
200-F026-03 |
22.0 |
49.0 |
27.0 |
7.7 |
4.02 |
|
52.3 |
62.1 |
9.8 |
2.8 |
4.46 |
200-F026-04 |
20.7 |
38.0 |
17.3 |
4.0 |
4.81 |
|
41.6 |
60.4 |
18.8 |
4.5 |
5.46 |
200-F026-08 |
23.5 |
50.3 |
26.8 |
18.7 |
3.91 |
200-F026-13 |
28.6 |
42.0 |
13.4 |
8.4 |
6.37 |
200-F026-15 |
52.0 |
55.7 |
3.7 |
3.1 |
34.62 |
200-F060-01 |
15.0 |
29.7 |
14.7 |
4.9 |
5.39 |
|
35.0 |
61.0 |
25.9 |
8.9 |
6.18 |
200-F060-02 |
17.0 |
40.0 |
23.0 |
10.5 |
6.22 |
|
50.0 |
57.0 |
7.0 |
3.2 |
11.13 |
200-F060-04 |
36.0 |
54.0 |
18.0 |
10.5 |
5.33 |
200-F085-04 |
53.6 |
71.4 |
17.8 |
5.2 |
9.67 |
200-F085-06 |
45.8 |
70.0 |
24.2 |
8.2 |
8.62 |
200-F085-09 |
42.2 |
64.9 |
22.7 |
9.4 |
7.65 |
200-F085-11 |
38.7 |
62.0 |
23.3 |
10.6 |
7.57 |
200-F085-13 |
36.6 |
60.9 |
24.3 |
11.9 |
6.12 |
200-F085-14 |
22.0 |
54.2 |
32.2 |
20.0 |
7.43 |
200-F085-15 |
31.6 |
46.3 |
14.7 |
11.2 |
4.86 |
200-F085-16 |
5.0 |
20.4 |
15.4 |
13.3 |
5.21 |
|
30.7 |
52.6 |
21.9 |
19.0 |
5.90 |
200-F992-08 |
46.0 |
58.0 |
12.0 |
8.7 |
5.80 |
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TECHNICAL INFORMATION
Technical information pertaining to the Stock
Property contained in this news release has been prepared under the
supervision of Ken Tylee, P.Geo., a Qualified Person as
defined by Canadian Securities Administrators National Instrument
43-101 "Standards of Disclosure for Mineral Projects."
Technical information pertaining to the Froome
Mine contained in this news release has been prepared under the
supervision of Robert Glover, P.Geo. Mr. Glover is a Qualified
Person as defined by Canadian Securities Administrators National
Instrument 43-101 "Standards of Disclosure for Mineral
Projects."
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTS
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"forward-looking statements" within the meaning of the Private
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markets, environmental risks and hazards, uncertainty as to the
calculation of mineral resources and reserves, and other risks.
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ABOUT MCEWEN MINING
McEwen Mining is a diversified gold and silver
producer and explorer focused in the Americas with operating mines
in Nevada, Canada, Mexico and Argentina.
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