McEwen Mining Exploration Produces Rich Gold Results at Black Fox
Key intercepts include:
34.77 g/t Au over 2.65 m (1.12 opt* Au over 8.69 ft.)
396.46 g/t Au over 1.81 m (12.75 opt Au over 5.94 ft.)
245.55 g/t Au over 1.27 m (7.89 opt Au over 4.17 ft.)
30.64 g/t Au over 2.99 m (0.99 opt Au over 9.81 ft.)
51.50 g/t Au over 0.95 m (1.66 opt Au over 3.12 ft.)
TORONTO, May 23, 2019 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is delighted to report rich gold assay results from its Black Fox Mine near Timmins, Ontario, Canada.
|Sylvain Guerard, Senior Vice President Exploration, commented: “For a mine with a history of producing 5 g/t gold, these drill assay results are very encouraging. These results highlight the significant potential of our exploration to extend the mine life at Black Fox and improve its profitability. Our geologists are building an improved geologic model of the Black Fox deposit that should allow us to grow our resources through near-mine exploration and enable more effective mine planning. We have a large and exciting year of exploration ahead of us.”|
During Q1, drilling focused on expanding known mineralized trends in proximity to existing mining areas: 1) laterally along the Mine’s Western Flank and Central Mine, and 2) down-plunge at the Deep Central Zone below the 820 m level (see Figure 1).
Drilling in the Western Flank area was designed to assess the economic potential of several Quartz-Carbonate stockwork vein systems occurring adjacent to the western extents of historic mining blocks within the 335-355 m Level, and to follow-up on an isolated historical high-grade hit of 3,884 g/t Au over 0.4 m (124.9 opt Au over 1.3 ft.) core length (CL). Significant intercepts of high-grade gold mineralization include (see Table 1):
- 34.77 g/t Au over 2.65 m estimated true width (TW) from Hole # 300-EX007-08;
- 396.46 g/t Au over 1.81 m TW including 1,175.00 g/t Au over 0.6 m TW from Hole #300-EX012-26 (see photo on Figure 2);
- 245.55 g/t Au over 1.27 m TW including 402.00 g/t Au over 0.77 m TW from Hole #300-EX006-16.
Drilling in the Central Mine area occurred from a staging point within the centrally-located 740 m Level development (see Figure 1). This campaign was initiated in order to increase confidence in the dimensions and continuity of gold mineralization, associated with the complex network of veining interpreted as the down-plunge extension of the High-Quartz vein, between the 640-700 m Level. Several encouraging intercepts were reported, including:
- 30.64 g/t Au over 2.99 m TW from Hole #740-L272-16 was very encouraging interval made up of 8 consecutive 1-metre samples (composited to 8 m CL).
Deep Central Zone
The first phase of the exploration tunnel on the 810 m Level of the Mine is now complete, and is providing a suitable drilling platform to target the deposit at depth, below existing development at the 820 m Level. Several encouraging intercepts have been returned from seven drill holes completed including high-grade results:
- 51.50 g/t Au over 0.95 m TW from Hole #810-EX252-07;
- 6.61 g/t Au over 3.66 m TW in a series of quartz stringers in Hole #810-EX252-08;
- 23.40 g/t Au over 0.99 m TW from Hole #810-EX252-06.
Additional step-out drilling in the Deep Central Ore Zone is planned for the second quarter.
Table 1 – 2018-2019 Black Fox Underground Drilling Results
|HOLE-ID||From (m)||To (m)||Length (m)||True Width (m)||Au (g/t)||Area|
Figure 1: Black Fox Exploration and Delineation Drilling
Figure 2: Selected Core Photos
McEwen Mining is a diversified gold and silver producer with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina. McEwen’s goal is to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas.
McEwen has approximately 360 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 22% of the shares.
Technical 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.
*Grams per tonne (g/t) converted to Troy ounces per tonne (opt) at ratio 31.1035 to 1. Widths reported in meters (m) and feet (ft.). Au is the periodic table symbol for gold.
All exploration drill core samples at the Black Fox Complex were submitted as 1/2 core. Analyses reported herein were performed by the independent laboratories: ALS Laboratories, which is ISO 9001/IEC17025 certified, Activation Labs, which is ISO 9001/IEC17025 certified, and SGS Canada Laboratories, which is ISO9001/IEC17025 certified. 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 was established: a minimum reportable interval length of 3 m was determined by establishing a cut-off grade of 3g/t gold for underground (1 g/t gold for near surface). 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 9 (3 for surface), it may be reported. There is no top cutting or capping of assays.
For further details about the Black Fox Complex project including Tamarack, please see our NI 43-101 technical report titled "Technical Report for the Black Fox Complex, Canada" dated April 6th, 2018 with an effective date of October 31st, 2017 available on SEDAR (www.sedar.com) under our issuer profile.
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