McEwen raises C$30m for exploration in Timmins
Canadian company McEwen Mining has secured C$30-million ($22-million) in flow-through to support ongoing exploration and development at the Fox Complex in Timmins, Ontario.
The funds will be allocated towards exploration drilling and developing an underground access ramp from surface to the Stock East and West resources.
Earlier this week, McEwen also announced new assay results from the Grey Fox deposits, which form part of the Fox Complex.
The assay highlights include 586.7 g/t over 0.5 m, 14.3 g/t over 5 m, 17.4 g/t over 4.2 m at 8.8 g/t over 3.9 m.
Gold at Grey Fox has been found in multiple zones, including Gibson, Whiskey-Jack, 147 and Grey Fox South. The current resource estimate for Grey Fox stands at 1.17-million ounces at a grade of 4.80 g/t gold indicated and 236 000 oz gold at 4.35 g/t gold inferred. An updated resource estimate is expected by late September.
Drilling efforts in 2023 and continuing into 2024 aim to expand the existing resource and identify new mineralised horizons.
Geological interpretations suggest that Grey Fox sits stratigraphically above the mineralisation of the Black Fox & Froome mines., indicating potential for similar deeper Black Fox and Froome style mineralisation directly below some of the Grey Fox zones. Historical production from these two mines is more than one-million ounces of god.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation