McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is
pleased to report additional drill results from the new Stock West
zone of gold mineralization (
see Table 1) on its
Stock Property, part of the Black Fox Complex, near Timmins, Canada
(see
Figure 1). See our
October 28,
2019 news release for initial drilling results.
“The Stock West zone was drilled for the
first time in September 2019. Our initial drill hole
returned 5.6 g/t Au over 30 m, including 9.1 g/t Au over 13 m.
Ongoing drilling with five rigs continues to deliver strong results
and the mineralization is open,” commented Sylvain
Guerard, SVP Exploration.
Table 1 – Selected
New Drill Results from Stock West
HOLE-ID |
From (m) |
To (m) |
CoreLength*(m) |
EstimatedTrue Width(m) |
GoldGrade (g/t) |
S19-106 |
536.00 |
561.00 |
25.0 |
15.8 |
7.7 |
Including |
539.00 |
555.20 |
16.2 |
10.3 |
11.2 |
& Including |
544.00 |
551.00 |
7.0 |
4.4 |
16.1 |
S19-108 |
507.50 |
515.50 |
8.0 |
5.5 |
4.7 |
Including |
509.60 |
510.50 |
0.9 |
0.6 |
17.1 |
S19-112A |
322.50 |
337.00 |
14.5 |
11.2 |
4.2 |
Including |
331.80 |
335.20 |
3.4 |
2.6 |
12.2 |
S19-113 |
482.00 |
501.00 |
19.0 |
14.7 |
6.3 |
And |
511.50 |
517.70 |
6.2 |
4.8 |
4.0 |
S19-114 |
523.05 |
528.55 |
5.5 |
3.6 |
7.8 |
S19-117 |
505.00 |
508.00 |
3.0 |
2.1 |
19.1 |
The Stock West mineralized zone is located along
the Destor-Porcupine Fault Zone (DPFZ), immediately west and along
strike of the historical Stock Mine, approximately 820 ft (250 m)
from existing underground development (see Figure
2).
A total of 26 drill holes have been completed at
the Stock West zone, and assays have been received for 22 holes.
The gold host rock is a coarse-grained carbonated and silicified
ultramafic, with visible gold noted in both quartz veinlets and
within the unit itself. Gold mineralization has been intersected
over a strike length of 820 ft (250 m) and vertically over 500 ft
(150 m). The true thickness of mineralization varies from 16 to 82
ft (5 to 25 m). Drilling is ongoing to test if the mineralization
extends in all directions (see Figures 3 &
4).
Strong Gold Intersections Over a 3 km
Strike Length Along the Stock Mine Trend
The 2019 drilling program at Stock has been
successful in returning multiple intersections of high-grade gold
mineralization along a 2-mile (3-kilometer) long segment of the
DPFZ. In addition to the results reported today at Stock West,
other recently reported high-grade drill results from the Stock
Property include the following:
- Stock Deep: 18.0 g/t Au over 9.1
m, including 120 g/t Au over 1.3
m (September 4, 2019 news release); and
- Stock East: 34.7 g/t Au over 5.9
m, including 74.1 g/t Au over 2.7
m; and 83.5 g/t Au over
5.6 m, including 417 g/t Au
over 1.1 m (September 30, 2019 news
release).
Property and Geological
Information
The Stock Property is metal stream-free and the
site of McEwen Mining’s Stock Mill, which currently processes ore
from the Black Fox Mine. The mill has a capacity of approximately
2,000 tonnes per day. The Stock Mine was in production
intermittently from the early 1980’s until 2004, and was developed
to a depth of 1,000 ft (300 m). The Stock West zone is located less
than 2/3 mile (1 km) from the mill and Highway 101.
Gold mineralization at the Stock Property occurs
along the prolific regional DPFZ, which crosses the property from
west to east for 5 miles (8 km). The Nighthawk Fault is a
significant NE-SW trending fault that intersects the DPFZ near the
Stock Mine, making the area a prime structural setting for gold
mineralization. In addition to these major structures, the property
also exhibits other characteristics of strongly mineralized systems
in the prolific Abitibi Greenstone Belt: intense alteration,
multi-style and multi-phase mineralization, and significant gold
mineralization hosted in various rock types.
Click Here to View Figures 1 to 4:
http://mcewenmining.com/files/doc_news/archive/2019121__bf/stock_west_dec2019_figures_1-4.pdf
Complete assay results from the latest drilling on the
Stock West
area: http://mcewenmining.com/files/doc_news/archive/2019121__bf/dec2019_stock_west_composites_cog_1_3.xlsx
ABOUT MCEWEN MINING
McEwen Mining is a diversified gold and silver
producer and explorer with operating mines in Nevada, Canada,
Mexico and Argentina. It also owns a large copper deposit in
Argentina. McEwen’s goal is to create a profitable gold and silver
producer focused in the Americas.
McEwen has approximately 400.3 million shares
outstanding. Rob McEwen, Chairman and Chief Owner, owns 20% of the
shares.
TECHNICAL INFORMATIONTechnical
information pertaining to geology and exploration contained in this
news release has been prepared under the supervision of Ken
Tylee, P.Geo. Mr. Tylee is a "qualified person" within the meaning
of NI 43-101.
Black Fox Complex drilling (including the Stock
Property) was conducted by Major Drilling and Norex Drilling and
supervised by McEwen’s Geology Department. All exploration drill
core samples at the Stock Property were submitted as 1/2 core.
Analyses reported herein were usually performed by
the fire assay method by the independent laboratories:
ALS Laboratories (ISO 9001/IEC17025 certified) and AGAT Labs (ISO
9001/IEC17025 certified). Screen metallic fire assay
technique is used to determine coarse and fine gold in samples and
utilises a larger volume of the sample. The plus fraction is
fire assayed for gold and a duplicate assay is performed on the
minus fraction. Size fraction weights, coarse and fine fraction
gold content and total gold content are
reported. McEwen’s quality control program includes
systematic insertion of blanks, standard reference material and
duplicates to ensure laboratory accuracy.
To determine the lengths of significant
mineralized intervals, the following composite criteria were
established.
Stock West: a minimum
reportable interval length of 3 m was determined by establishing a
cut-off grade of 1 g/t gold. A consecutive maximum length of 3 m of
internal waste, including sub cut-off grade material, is allowed
and incorporated into the reported composites. Where an interval of
less than 3 m is considered, if the grade x length calculation is
greater than 3, it may be reported.
There is no top cutting or capping of
assays.
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTSThis news release contains certain
forward-looking statements and information, including
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements and information expressed, as at the date of this news
release, McEwen Mining Inc.'s (the "Company") estimates, forecasts,
projections, expectations or beliefs as to future events and
results. Forward-looking statements and information are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties, risks
and contingencies, and there can be no assurance that such
statements and information will prove to be accurate. Therefore,
actual results and future events could differ materially from those
anticipated in such statements and information. Risks and
uncertainties that could cause results or future events to differ
materially from current expectations expressed or implied by the
forward-looking statements and information include, but are not
limited to, factors associated with fluctuations in the market
price of precious metals, mining industry risks, political,
economic, social and security risks associated with foreign
operations, the ability of the corporation to receive or receive in
a timely manner permits or other approvals required in connection
with operations, risks associated with the construction of mining
operations and commencement of production and the projected costs
thereof, risks related to litigation, the state of the capital
markets, environmental risks and hazards, uncertainty as to
calculation of mineral resources and reserves, and other risks.
Readers should not place undue reliance on forward-looking
statements or information included herein, which speak only as of
the date hereof. The Company undertakes no obligation to reissue or
update forward-looking statements or information as a result of new
information or events after the date hereof except as may be
required by law. See McEwen Mining's Annual Report on Form 10-K for
the fiscal year ended December 31, 2018 and other filings with the
Securities and Exchange Commission, under the caption "Risk
Factors", for additional information on risks, uncertainties and
other factors relating to the forward-looking statements and
information regarding the Company. All forward-looking statements
and information made in this news release are qualified by this
cautionary statement.
The NYSE and TSX have not reviewed and do not accept
responsibility for the adequacy or accuracy of the contents of this
news release, which has been prepared by management of McEwen
Mining Inc.
CONTACT
INFORMATION: |
Investor Relations:(866)-441-0690 Toll Free(647)-258-0395
Mihaela Iancu ext. 320
info@mcewenmining.com |
Website: www.mcewenmining.com
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