McEwen Mining (Seite 50)
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Antwort auf Beitrag Nr.: 61.803.961 von Ramses21 am 31.10.19 07:06:44Bitte keine KE!!! Das ist aus meiner Sicht gar nicht notwendig und ich hoffe das Rob nicht solche Gedanken hegt.. Grundsätzlich ist das Kapital ausreichend und wenn die Kosten jetzt endlich in die gewünschten Regionen von 1000$ pro Unze sich normalisieren, sollte aus dem Working Capital alles bezahlt werden können.. Das eigentliche Problem für die hohen Kosten waren die Startschwierigkeiten in Gold Bar und Balck Fox, doch diese scheint man ja endlich in den Griff zu bekommen und die Geologie sowie speziellen Eigenarten einer jeden Mine kennengelernt zu haben, sowie die teuren Explorationsprogramme.. Ich sehe nur dann eine KE als notwendig an, wenn Rob für 2020 weitere extrem kostspielige Bohrprogramme aufsetzt, anstatt erstmal die Minenentwicklung voranzutreiben.. Diese Gefahr ist nicht unreal, da Rob der Welt zeigen möchte das er Recht hatte und eine seiner Minen ein riesiges Vorkommen von weit über 3mio Unzen in Tiefen von 1000m hat.
Viel Glück an alle Investierten..
Viel Glück an alle Investierten..
Antwort auf Beitrag Nr.: 61.800.820 von bigyawn am 30.10.19 18:07:40Und es sind nur noch $ 18,5 Millionen in der Kasse. Da muss man sich schon fragen, wann die nächste KE kommt und wann endlich ein Plus hängen bleibt. Investitionen hin oder her, irgendwann muss Geld in der Kasse bleiben.
McEwen Mining loses $13.3-million (U.S.) in Q3
2019-10-30 06:24 ET - News Release
Ms. Christina McCarthy reports
MCEWEN MINING: Q3 2019 RESULTS
McEwen Mining Inc. has released its results for the third quarter ended Sept. 30, 2019. Total production during Q3 was 35,042 gold ounces and 947,145 silver ounces, or 45,930 gold equivalent ounces using the average gold:silver price ratio for Q3 of 87:1. The company's four producing mines generated earnings from mining operations of $9.4-million during the quarter. The company continued to invest in exploration and development, spending $15.8-million on advanced projects during Q3, which contributed to the company's consolidated net loss of $11.5-million, or three cents per share.
Q4 2019 and 2020 outlook
During Q4 2019, the company expects to produce between 42,000 and 46,000 AuEq ounces, placing the company near the midpoint of its guidance range for the year. Cash costs and AISC (all-in sustaining costs) will be elevated at Gold Bar due to improvements and repairs to the conveying systems and process plant. Cash costs at Black Fox are expected to return to the levels the company guided for the year, and AISC is expected to remain above guidance due to additional sustaining capital expenditures.
For 2020, the company expects an overall improvement in AuEq ounces produced and the company's global cost per AuEq ounce compared with 2019, as Gold Bar is forecast to produce 65,000 to 70,000 gold ounces during the year. Production and cost guidance for 2020 will be provided with the company's Q4 results.
Operations update
San Jose mine, Argentina (49-per-cent interest)
The mine is on track to achieving the company's full-year guidance for 2019 of 49,000 gold ounces and 3,225,000 silver ounces. The company's attributable production from San Jose in Q3 was 13,575 gold ounces and 943,037 silver ounces, for a total of 24,415 AuEq ounces, compared with 21,676 AuEq ounces in 2018. Cash costs and all-in sustaining costs (AISC) were $915 and $1,204 per AuEq ounce, respectively, in line with the company's guidance for the year. During the third quarter the company received $2-million, and subsequent to the end of the quarter the company received a further $3-million, in dividends from the company's interest in the San Jose mine.
Black Fox mine, Canada (100-per-cent interest)
In Q3, Black Fox produced 7,427 gold ounces, compared with 11,618 gold ounces in 2018. Cash costs and AISC were $941 and $1,363, respectively. AISC was above the company's guidance primarily due to lower-than-expected gold production.
The company's 2019 exploration budget for the Black Fox complex is $18-million. For detailed information about the company's continuing exploration at the Black Fox complex, refer to the company's news releases dated July 10 and July 25, Sept. 4, Sept. 10 and Sept. 30, and Oct. 28.
Gold Bar mine, USA (100-per-cent interest)
The third quarter was the first full quarter of commercial production at Gold Bar. Production during Q3 was 11,030 gold ounces. Cash costs and AISC were above guidance at $1,088 and $1,235 per AuEq ounce, respectively, primarily due to operational challenges during the first half of the year.
The company's 2019 exploration budget for the Gold Bar property is $5-million. Drilling focused on Gold Bar South in order to advance permitting, with the objective of having development begin in late 2020. The company also drilled two deep holes to test the potential of the property for Carlin-type gold deposits. For detailed information about the company's Nevada exploration program, refer to the company's news releases date Aug. 20, and Oct. 15.
El Gallo mine, Mexico (100-per-cent interest)
The mine is on track to achieving the company's full-year production guidance for 2019 of 16,000 gold ounces. During Q3, the mine produced 3,057 gold equivalent ounces. Cash costs and AISC were $1,153 and $1,177 per AuEq ounce, respectively. Production from residual leaching decreased due to depletion of the leachable gold content and the normal impact of the wet season. The company is evaluating several methods of enhancing and extending the existing operation.
Work on the Fenix project feasibility study and permitting is progressing. During Q3 environmental permits were received for phase 1 plant development and in-pit tailings storage.
Los Azules project, Argentina (100-per-cent interest)
During Q3, the company continued to advance permitting efforts, preliminary engineering and cost estimating for the proposed low-altitude all-year access route.
The associated table provides production and cost results for Q1, Q2 and Q3 2019 and comparative results from 2018 along with production and cost guidance for the full year 2019.
PRODUCTION AND COSTS
Full-year
Q1 Q2 Q3 2019 guidance
2018 2019 2018 2019 2018 2019
Total production
Gold (oz) 35,068 26,938 36,959 36,216 33,806 35,042 131,000-138,000
Silver (oz) 695,651 703,219 772,432 850,525 745,172 947,145 3,225,000
GEO 44,344 36,315 47,258 45,881 43,742 45,930 169,000-176,000
San Jose mine,
Argentina (49%)
Gold (oz) 10,822 10,559 12,139 13,518 11,768 13,575 49,000
Silver (oz) 692,052 701,341 769,197 848,268 743,100 943,037 3,225,000
GEOs 20,049 19,910 22,395 23,157 21,676 24,415 87,000
Cash costs ($/GEO) $934 $749 $806 $960 $856 $915 $860
AISC ($/GEO) 1,148 1,115 1,065 1,207 1,028 1,204 1,120
El Gallo mine, Mexico
GEOs 12,217 5,432 10,808 5,354 10,448 3,057 16,000
Cash costs ($/GEO) 691 967 783 926 671 1,153 875
AISC ($/GEO) 753 989 816 939 683 1,177 915
Black Fox mine, Canada
GEOs 12,078 8,943 14,055 9,430 11,618 7,427 36,000-40,000
Cash costs ($/GEO) 849 805 771 837 932 941 905
AISC ($/GEO) 1,188 1,454 1,056 1,196 1,285 1,363 1,080
Gold Bar mine, Nevada
GEOs - 2,030 - 7,940 - 11,030 30,000-33,000
Cash costs ($/GEO) - - - 901 - 1,088 930
AISC ($/GEO) - - - 1,088 - 1,235 975
FINANCIAL HIGHLIGHTS
Q3 2018 Q3 2019 Q3 YTD 2018 Q3 YTD 2019
Treasury
Liquid assets ($ millions) $54.0 $18.5 $54.0 $18.5
Working capital ($ millions) 37.9 16.5 37.9 16.5
Debt (term loan) ($ millions) 50.0 50.0 50.0 50.0
Earnings (loss) from mining operations
Black Fox mine (loss) ($ millions) (0.3) 0.1 6.9 1.9
San Jose mine (loss) (49%) ($ millions) (1.7) 6.4 3.7 9.6
El Gallo mine ($ millions) 6.8 1.1 24.5 4.9
Gold Bar mine ($ millions) - 1.8 - 3.9
Consolidated net income
Net (loss) ($ millions) (13.3) (11.5) (23.9) (34.6)
Net (loss) per share ($) (0.04) (0.03) (0.07) (0.10)
Cash flow
Cash provided by (used in)
operating activities ($ millions) (1.4) (12.8) (0.8) (21.9)
Conference call and webcast
The company invites you to join its conference call, where management will discuss the company's Q3 financial results and project developments and follow with a question-and-answer session. Questions can be asked directly by participants during the webcast. The webcast will be archived on the McEwen website following the call:
Wednesday, Oct. 30, 2019, 11 a.m. Eastern Daylight Time;
Toll-free U.S. and Canada: 1-866-211-4128;
Outside U.S. and Canada: 1-647-689-6724;
Conference ID: 3788346.
Management will reference slides from a presentation during the conference call.
About McEwen Mining Inc.
McEwen Mining is a diversified gold and silver producer with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina. McEwen's goal is to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.
2019-10-30 06:24 ET - News Release
Ms. Christina McCarthy reports
MCEWEN MINING: Q3 2019 RESULTS
McEwen Mining Inc. has released its results for the third quarter ended Sept. 30, 2019. Total production during Q3 was 35,042 gold ounces and 947,145 silver ounces, or 45,930 gold equivalent ounces using the average gold:silver price ratio for Q3 of 87:1. The company's four producing mines generated earnings from mining operations of $9.4-million during the quarter. The company continued to invest in exploration and development, spending $15.8-million on advanced projects during Q3, which contributed to the company's consolidated net loss of $11.5-million, or three cents per share.
Q4 2019 and 2020 outlook
During Q4 2019, the company expects to produce between 42,000 and 46,000 AuEq ounces, placing the company near the midpoint of its guidance range for the year. Cash costs and AISC (all-in sustaining costs) will be elevated at Gold Bar due to improvements and repairs to the conveying systems and process plant. Cash costs at Black Fox are expected to return to the levels the company guided for the year, and AISC is expected to remain above guidance due to additional sustaining capital expenditures.
For 2020, the company expects an overall improvement in AuEq ounces produced and the company's global cost per AuEq ounce compared with 2019, as Gold Bar is forecast to produce 65,000 to 70,000 gold ounces during the year. Production and cost guidance for 2020 will be provided with the company's Q4 results.
Operations update
San Jose mine, Argentina (49-per-cent interest)
The mine is on track to achieving the company's full-year guidance for 2019 of 49,000 gold ounces and 3,225,000 silver ounces. The company's attributable production from San Jose in Q3 was 13,575 gold ounces and 943,037 silver ounces, for a total of 24,415 AuEq ounces, compared with 21,676 AuEq ounces in 2018. Cash costs and all-in sustaining costs (AISC) were $915 and $1,204 per AuEq ounce, respectively, in line with the company's guidance for the year. During the third quarter the company received $2-million, and subsequent to the end of the quarter the company received a further $3-million, in dividends from the company's interest in the San Jose mine.
Black Fox mine, Canada (100-per-cent interest)
In Q3, Black Fox produced 7,427 gold ounces, compared with 11,618 gold ounces in 2018. Cash costs and AISC were $941 and $1,363, respectively. AISC was above the company's guidance primarily due to lower-than-expected gold production.
The company's 2019 exploration budget for the Black Fox complex is $18-million. For detailed information about the company's continuing exploration at the Black Fox complex, refer to the company's news releases dated July 10 and July 25, Sept. 4, Sept. 10 and Sept. 30, and Oct. 28.
Gold Bar mine, USA (100-per-cent interest)
The third quarter was the first full quarter of commercial production at Gold Bar. Production during Q3 was 11,030 gold ounces. Cash costs and AISC were above guidance at $1,088 and $1,235 per AuEq ounce, respectively, primarily due to operational challenges during the first half of the year.
The company's 2019 exploration budget for the Gold Bar property is $5-million. Drilling focused on Gold Bar South in order to advance permitting, with the objective of having development begin in late 2020. The company also drilled two deep holes to test the potential of the property for Carlin-type gold deposits. For detailed information about the company's Nevada exploration program, refer to the company's news releases date Aug. 20, and Oct. 15.
El Gallo mine, Mexico (100-per-cent interest)
The mine is on track to achieving the company's full-year production guidance for 2019 of 16,000 gold ounces. During Q3, the mine produced 3,057 gold equivalent ounces. Cash costs and AISC were $1,153 and $1,177 per AuEq ounce, respectively. Production from residual leaching decreased due to depletion of the leachable gold content and the normal impact of the wet season. The company is evaluating several methods of enhancing and extending the existing operation.
Work on the Fenix project feasibility study and permitting is progressing. During Q3 environmental permits were received for phase 1 plant development and in-pit tailings storage.
Los Azules project, Argentina (100-per-cent interest)
During Q3, the company continued to advance permitting efforts, preliminary engineering and cost estimating for the proposed low-altitude all-year access route.
The associated table provides production and cost results for Q1, Q2 and Q3 2019 and comparative results from 2018 along with production and cost guidance for the full year 2019.
PRODUCTION AND COSTS
Full-year
Q1 Q2 Q3 2019 guidance
2018 2019 2018 2019 2018 2019
Total production
Gold (oz) 35,068 26,938 36,959 36,216 33,806 35,042 131,000-138,000
Silver (oz) 695,651 703,219 772,432 850,525 745,172 947,145 3,225,000
GEO 44,344 36,315 47,258 45,881 43,742 45,930 169,000-176,000
San Jose mine,
Argentina (49%)
Gold (oz) 10,822 10,559 12,139 13,518 11,768 13,575 49,000
Silver (oz) 692,052 701,341 769,197 848,268 743,100 943,037 3,225,000
GEOs 20,049 19,910 22,395 23,157 21,676 24,415 87,000
Cash costs ($/GEO) $934 $749 $806 $960 $856 $915 $860
AISC ($/GEO) 1,148 1,115 1,065 1,207 1,028 1,204 1,120
El Gallo mine, Mexico
GEOs 12,217 5,432 10,808 5,354 10,448 3,057 16,000
Cash costs ($/GEO) 691 967 783 926 671 1,153 875
AISC ($/GEO) 753 989 816 939 683 1,177 915
Black Fox mine, Canada
GEOs 12,078 8,943 14,055 9,430 11,618 7,427 36,000-40,000
Cash costs ($/GEO) 849 805 771 837 932 941 905
AISC ($/GEO) 1,188 1,454 1,056 1,196 1,285 1,363 1,080
Gold Bar mine, Nevada
GEOs - 2,030 - 7,940 - 11,030 30,000-33,000
Cash costs ($/GEO) - - - 901 - 1,088 930
AISC ($/GEO) - - - 1,088 - 1,235 975
FINANCIAL HIGHLIGHTS
Q3 2018 Q3 2019 Q3 YTD 2018 Q3 YTD 2019
Treasury
Liquid assets ($ millions) $54.0 $18.5 $54.0 $18.5
Working capital ($ millions) 37.9 16.5 37.9 16.5
Debt (term loan) ($ millions) 50.0 50.0 50.0 50.0
Earnings (loss) from mining operations
Black Fox mine (loss) ($ millions) (0.3) 0.1 6.9 1.9
San Jose mine (loss) (49%) ($ millions) (1.7) 6.4 3.7 9.6
El Gallo mine ($ millions) 6.8 1.1 24.5 4.9
Gold Bar mine ($ millions) - 1.8 - 3.9
Consolidated net income
Net (loss) ($ millions) (13.3) (11.5) (23.9) (34.6)
Net (loss) per share ($) (0.04) (0.03) (0.07) (0.10)
Cash flow
Cash provided by (used in)
operating activities ($ millions) (1.4) (12.8) (0.8) (21.9)
Conference call and webcast
The company invites you to join its conference call, where management will discuss the company's Q3 financial results and project developments and follow with a question-and-answer session. Questions can be asked directly by participants during the webcast. The webcast will be archived on the McEwen website following the call:
Wednesday, Oct. 30, 2019, 11 a.m. Eastern Daylight Time;
Toll-free U.S. and Canada: 1-866-211-4128;
Outside U.S. and Canada: 1-647-689-6724;
Conference ID: 3788346.
Management will reference slides from a presentation during the conference call.
About McEwen Mining Inc.
McEwen Mining is a diversified gold and silver producer with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina. McEwen's goal is to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.
McEwen Mining EPS beats by $0.05, misses on revenue
https://seekingalpha.com/news/3511279-mcewen-mining-eps-beat…Licht am Ende des Tunnels?
Wenn Rob die Kosten für Black Fox runterbringt und Gold Bar startet könnten das positive Katalysatoren sein.
SorryTrading Spotlight
Antwort auf Beitrag Nr.: 61.780.670 von marstru am 28.10.19 13:08:54Natürlich wird das verpuffen. Ich erwarte dieses Jahr noch die offizielle Einstellung der Minenaktivitäten bzw der Untenproduktion auf Black Fox. Das wird den Kurs wieder auf € 1,20 fallen lassen.
Neue Bohrergebnisse
Gute Ergebnisse, ich finde eigentlich sogar sehr gute, aber so wie man Mux kennt, wird das wohl wieder verpuffen. Was solls, Geduld ist angesagt.https://www.mcewenmining.com/investor-relations/press-releas…
Und was sagt uns das? Ich vermute mal, wir werden keine positive Kursreaktion sehen!
McEwen drills 39 m of 6.7 g/t Au at Stock
2019-10-28 06:37 ET - News Release
Mr. Sylvain Guerard reports
MCEWEN MINING: STOCK PROPERTY CONTINUES TO IMPRESS
A distinct, new high-grade occurrence of gold mineralization has been found on McEwen Mining Inc.'s Stock property, part of the Black Fox complex, near Timmins, Canada.
" Results from our first drill holes suggest the potential to define a significant new zone of mineralization at Stock West . The economic importance is enhanced by being well located right next to our mill and the underground workings of the historic Stock Mine," commented Sylvain Guerard, SVP Exploration.
Highlights:
Drilling at Stock West returned four significant intersections:
6.7 g/t Au over 39 m (Drill Hole S19-101) 5.6 g/t Au over 30 m, including 9.1 g/t Au over 13 m (Drill Hole S19-98) 5.6 g/t Au over 29.1 m, including 15.0 g/t Au over 5.1 m (Drill Hole S19-105) 3.2 g/t Au over 17.5 m, including 4.3 g/t Au over 9.5 m (Drill Hole S19-104)
A total of eight drill holes have been completed at Stock West, and assays have been received for six holes to date (see Figures 2 & 3). All eight holes intersected the favorable host rock, a coarse-grained magnesite-fuchsite-dolomite carbonated altered ultramafic unit. Assay values from the well-mineralized intersections are consistent across the intervals, with gold present in both the veinlets and within the ultramafic itself. In addition, a pyrite-rich felsic dyke has been intersected in three holes. This dyke occurs next to the ultramafic intrusive unit and carries visible gold throughout. In hole S19-105, the felsic dyke returned assay results of 13.2 g/t Au over 5.4 m. These styles of mineralization differ from most other mineralization on both the Stock and Black Fox properties.
Similar coarse-grained ultramafic host rocks appear at part of Stock Deep (result highlighted below), and the potential for a connection with Stock West (a gap of over 2,000 ft. or 600 m) will be tested.
This new mineralization has been intersected from 1,280 to 1,670 ft. (390 to 510 m) below surface and horizontally for 575 ft. (175 m) and remains open at depth and along strike. Four surface drill rigs are actively drilling at Stock West.
Stock East and Stock Deep
The 2019 drilling program at Stock has been successful returning multiple intersections of high-grade gold mineralization along a 2-mile (3-kilometer) long segment of the Porcupine-Destor Fault (PDF). In addition to the results reported today at Stock West, other recently reported high-grade drill results from the Stock Property included the following.
Stock Deep: 18.0 g/t Au over 9.1 m, including 120 g/t Au over 1.3 m (September 4, 2019 news release); and Stock East: 34.7 g/t Au over 5.9 m, including 74.1 g/t Au over 2.7 m; and 83.5 g/t Au over 5.6 m, including 417 g/t Au over 1.1 m (September 30, 2019 news release).
New Drill Results from Stock West
HOLE-ID From (m)To (m)Core Length* (m)Gold Grade (g/t)
S19-98 472.0 502.0 30.0 5.63
Including 472.0 485.0 13.0 9.09
S19-101 482.0 490.0 8.0 1.37
Including 489.0 490.0 1.0 7.73
And 497.0 536.0 39.0 6.72
Including 502.0 503.0 1.0 16.70
Including 509.0 510.0 1.0 11.25
Including 523.0 524.0 1.0 41.40
Including 530.0 531.0 1.0 11.00
S19-102 398.0 400.0 2.0 3.06
And 469.0 477.0 8.0 3.05
S19-103 517.0 519.0 2.0 1.68
And 561.2 564.2 3.0 1.61
S19-104 447.5 465.0 17.5 3.22
Including 447.5 457.0 9.5 4.56
S19-105 475.0 504.1 29.1 5.62
Including 499.0 504.1 5.1 14.97
S19-106 Assays pending
S19-107 Assays pending
* True widths are estimated at 65% of the core
length for holes #98, 101 and 102, and 75% for #103-105.
Property and Geologic Information
The Stock Property is metal stream-free and the site of McEwen Mining's Stock Mill, which currently processes ore from the Black Fox Mine. The mill has a capacity of approximately 2,000 tonnes per day. The Stock Mine was in production from the early 1980s until 2004, and was developed to a depth of 1,000 ft. (300 m). The Stock West target is located approximately 1,000 ft. (300 m) west from existing underground development at the historical Stock Mine and 2/3 mile (1,000 m) from the mill.
Gold mineralization at the Stock Property occurs along the prolific regional PDF, which crosses the property from west to east for 5 miles (8 km). The Nighthawk Fault is a significant NE-SW trending fault that intersects the PDF near the Stock Mine, making the area a prime structural setting for gold mineralization. In addition to these major structures, the property also exhibits other characteristics of strongly mineralized systems in the prolific Abitibi Greenstone Belt: intense alteration, multi-style and multi-phase mineralization, and significant gold mineralization hosted in various rock types.
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.
TECHNICAL INFORMATION
Technical information pertaining to geology and exploration contained in this news release has been prepared under the supervision of Ken Tylee, P.Geo. Mr. Tylee is a "qualified person" within the meaning of NI 43-101.
Black Fox Complex drilling (including the Stock Property) was conducted by Major Drilling and Norex Drilling and supervised by McEwen's Geology Department. All exploration drill core samples at the Stock Property were submitted as 1/2 core. Analyses reported herein were usually performed by the fire assay method by the independent laboratories: ALS Laboratories (ISO 9001/IEC17025 certified) and AGAT Labs (ISO 9001/IEC17025 certified). Screen metallic fire assay technique is used to determine coarse and fine gold in samples and utilises a larger volume of the sample. The plus fraction is fire assayed for gold and a duplicate assay is performed on the minus fraction. Size fraction weights, coarse and fine fraction gold content and total gold content are reported. McEwen's quality control program includes systematic insertion of blanks, standard reference material and duplicates to ensure laboratory accuracy. To determine the lengths of significant mineralized intervals, the following composite criteria were established.
Stock West: a minimum reportable interval length of 3 m was determined by establishing a cut-off grade of 1 g/t gold. A consecutive maximum length of 3 m of internal waste, including sub cut-off grade material, is allowed and incorporated into the reported composites. Where an interval of less than 3 m is considered, if the grade x length calculation is greater than 3, it may be reported.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.
2019-10-28 06:37 ET - News Release
Mr. Sylvain Guerard reports
MCEWEN MINING: STOCK PROPERTY CONTINUES TO IMPRESS
A distinct, new high-grade occurrence of gold mineralization has been found on McEwen Mining Inc.'s Stock property, part of the Black Fox complex, near Timmins, Canada.
" Results from our first drill holes suggest the potential to define a significant new zone of mineralization at Stock West . The economic importance is enhanced by being well located right next to our mill and the underground workings of the historic Stock Mine," commented Sylvain Guerard, SVP Exploration.
Highlights:
Drilling at Stock West returned four significant intersections:
6.7 g/t Au over 39 m (Drill Hole S19-101) 5.6 g/t Au over 30 m, including 9.1 g/t Au over 13 m (Drill Hole S19-98) 5.6 g/t Au over 29.1 m, including 15.0 g/t Au over 5.1 m (Drill Hole S19-105) 3.2 g/t Au over 17.5 m, including 4.3 g/t Au over 9.5 m (Drill Hole S19-104)
A total of eight drill holes have been completed at Stock West, and assays have been received for six holes to date (see Figures 2 & 3). All eight holes intersected the favorable host rock, a coarse-grained magnesite-fuchsite-dolomite carbonated altered ultramafic unit. Assay values from the well-mineralized intersections are consistent across the intervals, with gold present in both the veinlets and within the ultramafic itself. In addition, a pyrite-rich felsic dyke has been intersected in three holes. This dyke occurs next to the ultramafic intrusive unit and carries visible gold throughout. In hole S19-105, the felsic dyke returned assay results of 13.2 g/t Au over 5.4 m. These styles of mineralization differ from most other mineralization on both the Stock and Black Fox properties.
Similar coarse-grained ultramafic host rocks appear at part of Stock Deep (result highlighted below), and the potential for a connection with Stock West (a gap of over 2,000 ft. or 600 m) will be tested.
This new mineralization has been intersected from 1,280 to 1,670 ft. (390 to 510 m) below surface and horizontally for 575 ft. (175 m) and remains open at depth and along strike. Four surface drill rigs are actively drilling at Stock West.
Stock East and Stock Deep
The 2019 drilling program at Stock has been successful returning multiple intersections of high-grade gold mineralization along a 2-mile (3-kilometer) long segment of the Porcupine-Destor Fault (PDF). In addition to the results reported today at Stock West, other recently reported high-grade drill results from the Stock Property included the following.
Stock Deep: 18.0 g/t Au over 9.1 m, including 120 g/t Au over 1.3 m (September 4, 2019 news release); and Stock East: 34.7 g/t Au over 5.9 m, including 74.1 g/t Au over 2.7 m; and 83.5 g/t Au over 5.6 m, including 417 g/t Au over 1.1 m (September 30, 2019 news release).
New Drill Results from Stock West
HOLE-ID From (m)To (m)Core Length* (m)Gold Grade (g/t)
S19-98 472.0 502.0 30.0 5.63
Including 472.0 485.0 13.0 9.09
S19-101 482.0 490.0 8.0 1.37
Including 489.0 490.0 1.0 7.73
And 497.0 536.0 39.0 6.72
Including 502.0 503.0 1.0 16.70
Including 509.0 510.0 1.0 11.25
Including 523.0 524.0 1.0 41.40
Including 530.0 531.0 1.0 11.00
S19-102 398.0 400.0 2.0 3.06
And 469.0 477.0 8.0 3.05
S19-103 517.0 519.0 2.0 1.68
And 561.2 564.2 3.0 1.61
S19-104 447.5 465.0 17.5 3.22
Including 447.5 457.0 9.5 4.56
S19-105 475.0 504.1 29.1 5.62
Including 499.0 504.1 5.1 14.97
S19-106 Assays pending
S19-107 Assays pending
* True widths are estimated at 65% of the core
length for holes #98, 101 and 102, and 75% for #103-105.
Property and Geologic Information
The Stock Property is metal stream-free and the site of McEwen Mining's Stock Mill, which currently processes ore from the Black Fox Mine. The mill has a capacity of approximately 2,000 tonnes per day. The Stock Mine was in production from the early 1980s until 2004, and was developed to a depth of 1,000 ft. (300 m). The Stock West target is located approximately 1,000 ft. (300 m) west from existing underground development at the historical Stock Mine and 2/3 mile (1,000 m) from the mill.
Gold mineralization at the Stock Property occurs along the prolific regional PDF, which crosses the property from west to east for 5 miles (8 km). The Nighthawk Fault is a significant NE-SW trending fault that intersects the PDF near the Stock Mine, making the area a prime structural setting for gold mineralization. In addition to these major structures, the property also exhibits other characteristics of strongly mineralized systems in the prolific Abitibi Greenstone Belt: intense alteration, multi-style and multi-phase mineralization, and significant gold mineralization hosted in various rock types.
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.
TECHNICAL INFORMATION
Technical information pertaining to geology and exploration contained in this news release has been prepared under the supervision of Ken Tylee, P.Geo. Mr. Tylee is a "qualified person" within the meaning of NI 43-101.
Black Fox Complex drilling (including the Stock Property) was conducted by Major Drilling and Norex Drilling and supervised by McEwen's Geology Department. All exploration drill core samples at the Stock Property were submitted as 1/2 core. Analyses reported herein were usually performed by the fire assay method by the independent laboratories: ALS Laboratories (ISO 9001/IEC17025 certified) and AGAT Labs (ISO 9001/IEC17025 certified). Screen metallic fire assay technique is used to determine coarse and fine gold in samples and utilises a larger volume of the sample. The plus fraction is fire assayed for gold and a duplicate assay is performed on the minus fraction. Size fraction weights, coarse and fine fraction gold content and total gold content are reported. McEwen's quality control program includes systematic insertion of blanks, standard reference material and duplicates to ensure laboratory accuracy. To determine the lengths of significant mineralized intervals, the following composite criteria were established.
Stock West: a minimum reportable interval length of 3 m was determined by establishing a cut-off grade of 1 g/t gold. A consecutive maximum length of 3 m of internal waste, including sub cut-off grade material, is allowed and incorporated into the reported composites. Where an interval of less than 3 m is considered, if the grade x length calculation is greater than 3, it may be reported.
We seek Safe Harbor.
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