El Gallo Regional Exploration - Twin Domes Drilling Intersects Significant Near Surface Gold Mineralization
Toronto, Aug 19, 2013 AEST (ABN Newswire) - McEwen Mining Inc. (
NYSE:MUX) (TSE:MUX) is pleased to announce core drill results from its new Twin Domes discovery, including 9.7 gpt gold over 10.3 meters and 5.0 gpt gold over 16.8 meters. These results are a follow-up to the discovery holes announced in April, which intersected 8.8 gpt gold over 9.7 meters and 9.8 gpt gold over 4.6 meters, in addition to a trench that returned 20.9 gpt gold over 12.7 meters. The Company believes Twin Domes is attractive due to its higher gold grades and its close proximity to the Company's process plant.
Twin Domes is located 17 kilometers (10.5 miles) northwest of the Company's El Gallo 1 heap leach mine (Fig. 1). Initial test results show that the gold mineralization at Twin Domes is potentially amenable to heap leaching, which would allow it to be processed at El Gallo 1. Ten additional core holes were completed in this recent drilling. Although it is early, McEwen Mining is highly encouraged by these results and believes Twin Domes could have a positive impact on the El Gallo 1 mine.
To date, gold mineralization at Twin Domes has been identified from surface to a depth of 45 meters. The known length (or strike) of the zone is approximately 275 meters. A total of 20 additional core holes have been planned in order to follow up on these results. This program will start next week.
McEwen Mining also announces its technical report titled "Technical Report on San José Silver-Gold Mine, Santa Cruz, Argentina" dated August 15, 2013, has been filed on SEDAR pursuant to the National Instrument 43-101 requirements. The Technical Report includes the updated resource estimates previously announced by the Company in a press release dated March 18, 2013. The Technical Report has been filed under McEwen Mining's profile on SEDAR at www.sedar.com and can also be viewed on the Company's website at www.mcewenmining.com.
About McEwen Mining Inc
McEwen Mining (NYSE:MUX) (TSE:MUX) has the goal to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas. McEwen's principal assets consist of: the San José mine in Santa Cruz, Argentina (49% interest); the Black Fox mine in Timmins, Canada; the Fenix Project in Mexico; the Gold Bar mine in Nevada, currently under construction; and the large Los Azules copper project in Argentina, advancing towards development.
McEwen has approximately 345 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns roughly 23% of the shares.
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