Promising drill results for McEwen Mining from Grey Fox in Timmins gold district (TSX: MUX)

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    McEwen Mining, Grey Fox

    Toronto’s McEwen Mining have reported further positive drill results from their Grey Fox project, part of the Black Fox Complex, found in the Timmins gold district, Ontario.

    McEwen Mining -  Plan Map of the Grey Fox Area & Selected New Drill Intersections

    Plan Map of the Grey Fox Area & Selected New Drill Intersections

    Highlights from the three drill targets:

    South Zone:10.9 g/t Au over 18.8m, including 15.9 g/t Au over 10m
    Whiskey Jack:14.1 g/t Au over 8.4m, including 59.1 g/t Au over 1.3m
    147NE:12.3 g/t Au over 4.4m, including 19.2 g/t Au over 2.2m

    Selected Drill Results from South Zone, Whiskey Jack, 147NE and 147 Zone
    Selected Drill Results from South Zone, Whiskey Jack, 147NE and 147 Zone

    Sylvain Guerard, SVP Exploration, commented “These results highlight the potential to find additional gold mineralization across the one square kilometer Grey Fox Deposit area.”

    McEwen Mining - Grey Fox Area - Plan View of Mineralization & Drill Hole Locations
    Grey Fox Area – Plan View of Mineralization & Drill Hole Locations

    There are four deposits which currently make up the Grey Fox Area – these are 147, 147NE, contact and South. The latest set of drill results confirm the continuity of the main gold mineralisation at 147NE and also suggest the presence of two further mineralised zones at South Zone and Whiskey Jack.

    Gaining a deeper understanding of the geology

    McEwen Mining

    At 147NE, higher grades and ticker mineralisation was found where northwest dipping structures intersected favourable iron-rich volcanic host rocks. Results here included 5.7 g/t Au over 8.2 m, including 19.3 g/t Au over 2.2 m for example. The zone is exposed at the surface, and has been texted by drilling to a depth of 350m, where a fault offsets the mineralisation.

    Initial success at 147NE led to focussing on targets with similar characteristics which produce the drill targets at Whiskey Jack and South Zone.

    Whiskey Jack is a new exploration target found 1km north of the South Zone intercepts. Drilling started in September 2019, and early assay results from one hole have shown promising results of 14.1 g/t Au over 8.4 m, including 59.1 g/t Au over 1.3 m core length, with multiple occurrences of visible gold in quartz-carbonate veins and breccias overprinted by faulting. Drilling here is continuing.

    Drilling at South Zone has improved the understanding of the structural controls on the replacement-style mineralisation found here. Drill hole 19GF-1198 returned 10.9 g/t Au over 18.8 m core length, including 15.9 g/t Au over 10.0 m, and contained visible gold associated with 2-10% disseminated pyrite in silica-albite-hematite alteration (replacement-style mineralization). Both styles of mineralization occur preferentially in iron-rich volcanic rocks.

    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 362 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 22% of the shares.


    Disclaimer
    MiningIR host a variety of articles from a range of sources, our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.

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