McEwen Mining drills 0.5% copper over 502 metres at Los Azules, Argentina, shares up
McEwen Copper Inc., 52%-owned by McEwen Mining Inc. [MUX-TSX, NYSE], has released the latest assay results from Los Azules, where a continuing drilling program continues to deliver consistent infill results. Located in San Juan, Argentina, the Los Azules Project has many features comparable to world-class copper-gold deposits in South America, including a thick blanket of higher-grade Enriched (or Supergene) mineralization.
Highlights: Hole AZ22183 returned an Enriched zone intercept of 0.87% copper over 152 metres (est. true thickness) which expands mineralization from adjacent high-grade results drilled in prior programs.
In hole AZ22184A, an enriched zone interval grading 0.92% copper over 276 metres (est. true thickness) occurs in a hydrothermal magmatic breccia within the core of the deposit. This breccia unit acts as a conduit for mineralizing fluids, sometimes forming higher grades within the broader porphyry mineralization at Los Azules.
Hole AZ22181 returned an Enriched zone intercept of 0.87% copper over 172 metres (est. true thickness) and fills a gap between high-grade holes drilled earlier in 2022.
Hole AZ22186 includes an interval grading 1.00% Cu over 282 metres (true thickness of 247 m) in the Enriched zone nearby a historic high-grade- intercept.
“We have four different drilling contractors with 13 drills turning,” commented Michael Meding, Vice President and General Manager of McEwen Copper. “This initiative also involves training and optimizing the entire value chain, with the significant engagement of local suppliers and services.”
After resuming the exploration program in October 2022, drilling has now reached the 25,000 meters initially planned and will continue until the end of the field season. Key objectives of the program include:
Increasing drilling density to upgrade the classification of shallower copper resources to measured and indicated categories: providing metallurgical, hydrological and geotechnical data for the feasibility study mine design to be completed in late 2024 and testing for extensions of Los Azules mineralization to the north, south and at depth.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it has large exposure to copper through its 52% ownership of McEwen Copper which owns the large, advanced stage Los Azules copper project in Argentina. Rob McEwen, Chairman and Chief Owner, has personal investment in the company of US$220 million. His annual salary is US$1.