McEwen Mining: Stock Exploration Update

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Algemeen advies 09/05/2023 06:26
High Grades Near Surface in Proximity to the Proposed Ramp System to Stock West

Hole SM23-145: 18.9 g/t Au over 9.4 m

Hole SM22-116: 18.7 g/t Au over 3.0 m

Hole SM23-133: 11.9 g/t Au over 2.6 m

TORONTO, May 08, 2023 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report assay results from three zones at the Stock Property, part of the Fox Complex near Timmins (see Figure 1 – Areas A, B & C).

Results from eight near surface holes close to high-grade intersections in hole SM22-110 (December 19th, 2022 press release) that included 264.5 g/t gold (Au) over 2.7 meters (m) returned attractive grades up to 18.9 g/t Au over 9.4 m (see Table 1 – Area A). Figure 2 shows new shallow drilling results in Area A are within the Stock Mine Extension Trend and are favorably located close to the proposed Stock West ramp. This area has the advantages of being located right beside our Stock Mill, near surface, and with good grades averaging 5 g/t Au.

Drill holes were also completed in the lower portion of the Stock Mine Extension Trend (see Figures 1 & 3 – Area B), where recent deeper drilling was designed to expand lenses of mineralization in proximity to the Stock Mine. These lenses could represent early mining horizons as we drive a ramp from surface down to Stock West. The new results include 4.5 g/t Au over 6.5 m within a broader intersection of 3.3 g/t Au over 15.6 m. Drillhole S21-202 (released December 21st, 2021) returned 4.3 g/t Au over 20.3 m, with limited drilling between this intersection and the other three drill hole intersections shown.

The focus for the Stock West drilling campaign at the end of 2022 and beginning of 2023 (see Figure 1 & 4 – Area C) was to convert Inferred mineral resources to Indicated classification. Some exploration drill holes were designed to test the southwest plunge component. Figure 4 highlights encouraging results of 6.3 g/t Au over 5.4 m within a broader zone of 3.2 g/t Au over 13.9 m. In this area there are currently three additional holes with visible gold and assays pending. These results indicate that the current resource for Stock West could grow. Two additional holes were drilled to test a favorable hanging wall zone to Stock West. One hole returned 5.7 g/t Au over 5.9 m and appears to be open up-plunge, northeast of the current resource. This intercept is also significant since it could represent part of a potential new zone at Stock West.

All results are estimated true width unless otherwise noted.

Table 1 – Latest Drill Results for Stock
see & read more on
https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2023/McEwen-Mining-Stock-Exploration-Update/default.aspx



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