McEwen Mining finds high gold grades at Grey Fox deposit, with promising exploration targets.
From GlobeNewswire: 2024-05-27 07:00:00
McEwen Mining Inc. provided new assay results from the Grey Fox deposit showcasing high gold grades such as 586.7 g/t Au over 0.5 m. The current resource estimate for Grey Fox stands at 1,168,000 oz gold at 4.80 g/t Au Indicated. Exciting exploration targets and resource growth potential are being discovered, with an updated estimate expected in late September. The company is drilling to increase the existing resource and identify new mineralized horizons at Grey Fox, part of their Fox Complex. The Grey Fox deposit has multiple zones, including Gibson, Whiskey-Jack, 147, and Grey Fox South, with potential for deeper-seated mineralization below the existing zones. Strong gold grades have been found in the Gibson zone, showing potential for high grading mineralization close to the surface. Recent drilling at Gibson indicated significant gold mineralization potential near the historical ramp and the possibility of extending favorable mineralization into sediments to the east. This area is rich in iron, providing a favorable host rock for gold mineralization. The company is focusing on infill drilling at Gibson to identify near-term mineralization opportunities. Other zones like Whiskey-Jack, GFS, and 147 are showing promising grades in the Grey Fox deposit, suggesting the potential for open pit mining due to shallow depths, high gold grades, and optimal mineralization patterns for surface mining. The company plans to continue an active exploration program in the area in the coming years.
Read more at GlobeNewswire: McEwen Mining: Grey Fox Exploration Update Extending the