McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) has reported new drill results from the Gold Bar Mine Complex in Nevada's Eureka Mining District, including what the company describes as the best hole drilled to date at the Windfall deposit. The hole returned 5.55 grams per tonne gold over 44.2 meters, including 48.38 grams per tonne gold over 4.6 meters of oxide mineralization. These results indicate strong grade continuity over long intervals and suggest that higher-grade mineralization remains open at depth, prompting planned drilling to test deeper extensions in March.
The Windfall deposit, along with Lookout Mountain and Unity Ridge, is advancing toward production as part of McEwen's strategy to double gold production by 2030. The company's gold and silver mines are located in prolific mineral-rich regions including the Cortez Trend in Nevada, the Timmins district of Ontario, and the Deseado Massif in Argentina. McEwen is also considering reactivating a gold and silver mine in Mexico.
McEwen holds a 46.4% interest in McEwen Copper, which owns the advanced-stage Los Azules copper project in Argentina. The project is designed to be one of the world's first regenerative copper mines and aims for carbon neutrality by 2038. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million.
Chairman and Chief Owner Rob McEwen has invested over US$200 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame, and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX's profitability, share value, and eventually implement a dividend policy, as he did while building Goldcorp Inc.
For more details, the full press release is available at https://ibn.fm/93kZ1. The latest news and updates relating to MUX can be found in the company's newsroom at https://ibn.fm/MUX.
