McEwen Mining is reporting “encouraging” results from first-quarter drilling at its Black Fox complex east of Timmins.
Out of its allotted $15-million budget for exploration in 2018, the company said it has spent 30 per cent to date to extend the mineralization and test targets close to the mine and mill.
The company has drilled 11,200 metres from underground and 31,200 metres from surface in the first quarter of the year, and all four areas of exploration – Grey-Fox Gibson, Stock, Black Fox Underground, Tamarack – returned “encouraging” results.
Some of the best intercepts encountered were:
- 639.00 g/t Au over 0.55 m (from 72 m) in hole 18GF-1062 at Gibson Southwest;
- 5.24 g/t Au over 11.96 m (from 204 m) in hole S18-10 at Stock East;
- 4.50 g/t Au over 3.79 m (550 m UG level) in hole 520-EX286-52 at Black Fox; and
- 23.88 g/t AuEq over 6.47 m (from 70 m) in hole 18BF-646 at Tamarack.
The company also undertook extensive exploration work, including airborne electromagnetic and magnetic surveys (VTEM); geophysical data processing and interpretation work with Terra Resources to develop new drill targets; data processing and application of machine learning by Goldspot Discoveries; and development of interactive 3D models by MRB Consulting.
“This work is designed to refine and tighten the focus of our exploration efforts,” the company said in the release.
McEwen Mining acquired the Black Fox complex — located in the Township of Black River-Matheson, just east of Timmins — from Primero Mining in October, 2017, for $35 million.
In addition to Black Fox, McEwen’s assets include the San José mine in Santa Cruz, Argentina (49 per cent interest), the El Gallo Gold mine and El Gallo Silver projects in Mexico, the Gold Bar future mine in Nevada, and the Los Azules copper project in Argentina.
