McEwen Mining drills 53 g/t gold over 6.7 metres at Grey Fox

Black Fox Complex near Timmins, Ontario.

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McEwen Mining Inc. [MUX-TSX, NYSE] reported additional positive drill results from the Whiskey Jack target in the Grey Fox area, part of the Black Fox Complex, located in the prolific Timmins gold district of northeastern Ontario.

Sylvain Guerard, SVP Exploration commented: “New intersections at Whiskey Jack have confirmed high‑grade gold mineralization over significant true widths, including 53 g/t gold over 6.7 metres. This intersection is open and offers good potential for the discovery of a new high-grade deposit that could contribute to the growth of our existing resource at Grey Fox.”

Hole 19GF-1293: 4.40 metres (TW 3.99 m) of 5.82 g/t gold and 6.71 metres of 52.96 g/t gold.

Hole 19GF-1308: 2.30 metres (TW ND*) of 16.62 g/t gold, including 1.30 metres of 25.70 g/t gold, and 12.00 of 3.31 g/t gold.

Hole 19GF-1321: 6.50 metres (TW 5.54 m) of 4.78 g/t gold, including 1.98 metres (TW 1.70 m) of 11.06 g/t gold.

*Not determined

The Whiskey Jack target is located on the northern extension of the Grey Fox mineralized system where the contact between sedimentary and volcanic units changes orientation, from a steep dip to the east to a moderate dip to the southwest. Mineralization at Whiskey Jack is known to have complex geometry, but recent drilling has better defined the important geologic controls.

Hole 19GF-1293 was drilled to assess the true width of an earlier 9.0 g/t gold over 44 metres core length intersection released on December 3, 2019, which was believed to have been drilled at a low angle to the mineralized structure, and is now interpreted to have a true width of 4.9 metres. Results from hole #1293 returned two sub-parallel intersections of 5.8 g/t gold over 4 metres and 53 g/t gold over 6.7 metres, confirming the initial interpretation and the consistency of the broad high-grade mineralization in this system.

Gold intersections within the Whiskey Jack structure extend 200 metres along strike and have been intersected from near-surface to a vertical depth of approximately 400 metres.

Drill results suggest the gold mineralization may be hosted in at least two sub-parallel structures, spaced approximately 11 metres apart, containing mineralized veins and breccias, with true thickness ranging from approximately 2 to 6 metres. Intense silica, albite and disseminated pyrite is associated to the gold mineralization. The mineralized structure remains open and offers potential for expansion.

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. The company has approximately 400 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 20% of the shares.


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