McEwen Mining (TSX: MUX | NYSE: MUX) has announced that both inferred and indicated gold resources are up 31% year-over-year at two zones (Stock West and Stock Main) at its past-producing Stock mine – a part of the company’s Fox complex near Timmins, Ontario in Canada.
The company added that gold mineralization has been traced at depth. Geological interpretation suggests that there are two primary plunging structures, and drilling along these structures’ accounts for about half the increase in resources. Both structures remain highly prospective for additional growth.
The Stock East zone is also emerging as a potential new source of near-term production.
Highlights included:
- Hole SEZ24-86: 121.5g/t gold over 0.4m (3.91oz/t Au over 1.3ft)
- Hole SEZ24-84: 6.5g/t gold over 10.2m (0.21oz/t Au over 33.5ft)
- Hole SEZ24-88: 4.5g/t gold over 10.4m (0.14oz/t Au over 34.1ft)
The Stock East zone is strategically located as it lies close to the splay point of the Nighthawk Lake fault, and such splays are known to be good traps for gold mineralization. It is located only 700m east of the existing Fox mill and could be quickly and relatively inexpensive to develop due to shallow depths.
The current drill programme aims to upgrade most of the inferred mineralization to the indicated category and target the high-grade sections of the zone.
McEwen Mining is a gold and silver producer with operations in the US, Canada, Mexico, and Argentina. In addition, it owns nearly 50% of McEwen Copper which owns a large, advanced-stage copper project in Argentina called Los Azules.
Last year, McEwen produced 128,650oz of gold and 2.2Moz of silver or 154,600oz Au Eq. The Fox complex was responsible for producing 44,450oz Au Eq or roughly 29% of the output.
For further information, please visit: www.mcewenmining.com
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