McEwen Mining (NYSE: MUX) (TSX: MUX) yesterday announced promising new assay results from the Grey Fox deposit within its Fox Complex. The highlights include significant gold grades at both shallow and deeper levels, suggesting potential for low-cost open pit mining and intriguing follow-up targets. Notable assay results including but not limited to 586.7 g/t Au over 0.5 meters and 14.3 g/t Au over 5.0 meters, are indicative of prospective high-grade gold zones. Grey Fox’s current resource estimate stands at 1,168,000 ounces of gold at a grade of 4.80 g/t Au (Indicated) and 236,000 ounces of gold at 4.35 g/t Au (Inferred), with an updated resource estimate expected by the end of September.
Geological interpretations suggest that Grey Fox lies above the mineralization of the Black Fox and Froome mines, enhancing its appeal. The Gibson zone, a high-priority target, has shown promising assay results with significant near-surface and deep mineralization, indicating resource growth potential. The Whiskey-Jack, GFS, and 147 zones also present attractive targets with high gold grades and favorable geological settings.
McEwen Mining’s ongoing exploration program aims to delineate and expand these resources as part of further solidifying Grey Fox as a prime candidate for open pit mining.
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About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, CEO and chief owner, has a personal investment in the company of $220 million. For more information about the company, visit www.McEwenMining.com.
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