McEwen Mining is reporting “rich” assay results at its Black Fox gold property near Timmins, and a potential new mineralization at Grey Fox.
In a May 23 news release, the company said a drilling program conducted on the Black Fox property in the first quarter of 2019 had focused on expanding known mineralized trends near existing mining areas.
They included laterally, along the Black Fox Mine’s western flank and central mine and down-plunge at the Deep Central Zone below the 820-metre level.
“For a mine with a history of producing 5 grams per tonne of 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,” Sylvain Guerard, McEwen’s senior vice-president of exploration, said in the release.
“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.”
Highlights of the program included:
- 34.77 g/t Au over 2.65 m (1.12 ounces per tonne 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.)
On the same day, but in a separate news release, McEwen noted that results of drilling at Grey Fox, an exploration property located within the Black Fox area, suggests a new mineralization.
The company noted that Grey Fox is comprised of three deposits: 147, Contact and South, and two targets: 147NE and Gibson, which cumulatively hosts estimated Indicated resources of 465,000 ounces of gold (2.2 million tonnes at an average grade of 6.64 g/t).
“The reported drill intersections at the 147NE and Gibson Targets are highly encouraging,” Guerard said. “The potential of the Grey Fox Area to host additional mineralization is improving rapidly."
In January, McEwen said exploration at its Timmins properties would be a priority for the company in 2019, and that it had set aside $20 million for exploration purposes.
The company also announced that commercial production had begun at its Gold Bar Mine in Nevada.
Earlier in the week, McEwen reported a fatality at the site, after a truck driver, Dean Pilcher, experienced a suspected medical emergency while operating a haul truck, before losing control of the vehicle, which ran up an embankment and overturned.