NetworkNewsBreaks — McEwen Mining Inc. (NYSE: MU
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Posted On: 10/04/2023 5:30:53 PM
NetworkNewsBreaks — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Shares Update in Latest Assay Report
McEwen Mining (NYSE: MUX) (TSX: MUX), a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina, is reporting new assay results on its Fox Complex, which is located near Timmins, Ontario. Key findings indicate two principal plunge directions (or vectors) controlling mineralization with both appearing to originate at the Ramp Portal Zone. According to the announcement, the results from 21 diamond drillholes are reported for three key target areas at McEwen’s Stock West Project: Ramp Portal Zone, Shallow Plunge and Steep Plunge. Additionally, findings show two intriguing results that suggest other directions for the Stock resource to grow. In the Ramp Portal Zone, ongoing drilling continues to encounter good grades and widths at shallow depths, in proximity to the surface entrance portal of the ramp that will be driven to access the Stock West deposit; the company is planning to start development of the ramp in December.
“The significance of this mineralization is the prospect of very early mining and cash flow, making the development of the Stock ramp partially self-funding,” the company stated. At the Shallow Plunge Zone, drilling shows good-grade mineralization that continues to the Southwest beyond the current Stock West resource. “These results together with the good grades found near the Ramp Portal Zone suggest there is potential to not only expand the Stock West resource base but also shorten the payback period and extend the mine life that was outlined in the January 2022 Preliminary Economic Assessment for the Fox Complex,” the report noted. “The Steep Plunge Zone represents the longer-term potential for the Stock West Project due to its depth. . . . The observed widths continue to impress and suggest that the mineralization continues deeper.”
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McEwen Mining (NYSE: MUX) (TSX: MUX), a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina, is reporting new assay results on its Fox Complex, which is located near Timmins, Ontario. Key findings indicate two principal plunge directions (or vectors) controlling mineralization with both appearing to originate at the Ramp Portal Zone. According to the announcement, the results from 21 diamond drillholes are reported for three key target areas at McEwen’s Stock West Project: Ramp Portal Zone, Shallow Plunge and Steep Plunge. Additionally, findings show two intriguing results that suggest other directions for the Stock resource to grow. In the Ramp Portal Zone, ongoing drilling continues to encounter good grades and widths at shallow depths, in proximity to the surface entrance portal of the ramp that will be driven to access the Stock West deposit; the company is planning to start development of the ramp in December.
“The significance of this mineralization is the prospect of very early mining and cash flow, making the development of the Stock ramp partially self-funding,” the company stated. At the Shallow Plunge Zone, drilling shows good-grade mineralization that continues to the Southwest beyond the current Stock West resource. “These results together with the good grades found near the Ramp Portal Zone suggest there is potential to not only expand the Stock West resource base but also shorten the payback period and extend the mine life that was outlined in the January 2022 Preliminary Economic Assessment for the Fox Complex,” the report noted. “The Steep Plunge Zone represents the longer-term potential for the Stock West Project due to its depth. . . . The observed widths continue to impress and suggest that the mineralization continues deeper.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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