Black Fox Exploration News
Black Fox Exploration News
Toronto, July 26, 2018 AEST (ABN Newswire) - McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) reports additional encouraging exploration results from its ongoing $15 million exploration program at the Black Fox Complex near Timmins, Ontario, Canada.

McEwen's 2018 exploration goals are to grow known deposits and make new discoveries to contribute to near-term gold production. During Q2 a total of 129,000 ft (39,300 meters (m)) of surface exploration drilling was completed at Black Fox Complex, for a year-to-date total of 220,000 ft (66,900 m).

"Our drilling continues to deliver very encouraging results, particularly from the three project areas highlighted in this release: Stock East, Froome and Gibson. Continued drilling success reinforces our view about the strong exploration potential of both the Black Fox and Stock properties," stated Sylvain Guerard, Senior Vice-President Exploration.

Three of our exploration targets are covered in this release: Stock East, Froome and Gibson. Underground delineation drilling intercepts from Black Fox are also included, along with a revised Black Fox Mine resource estimate, which eliminates the Inferred resource category and increases the Indicated ounces and grade.

Stock East

The Stock Mine property covers a 4 mile (6.5 km) section of the Destor-Porcupine fault, and produced 137,000 gold ounces at a grade of 5.5 g/t between 1989 and 2005. Our winter drilling program was designed to follow-up on historical intersections and geophysical targets; it returned better than expected results at the Stock East target and prompted an expanded 66,000 ft (20,000 m) drilling program beginning in early June. Three drill rigs are currently active and will infill the Stock East target, test the depth extension of the Stock Mine below 500 m, and attempt to join mineralization at Stock East with the historical Stock Mine over a 2,000 m long trend (see Figure 1 in link below).

Stock East has a strike length of approximately 500 m and extends vertically from surface to a depth of at least 450 m. Its proximity to our mill facility makes Stock's potential for an open-pittable deposit a particularly attractive target.

Significant drill intersections include:
 
---------------------------------------------------------------------
Hole	   From (m)    To (m)    Length (m)    TW (m)    Au (g/t) 
---------------------------------------------------------------------
S18-08     375.80      388.00    12.20         9.90      3.39 
Including  375.80      376.80    1.00          0.81      9.51  
S18-14	   203.45      207.60    4.15          3.72      2.30  
S18-16A	   236.60      243.00    6.40          5.39      1.83 
And        253.10      265.00    11.90         10.02     1.53 
S18-18     226.00      234.00    8.00          5.43      1.60 
S18-19     143.00      160.90    17.90         16.46     2.62 
Including  150.00      159.00    9.00          8.28      3.89 
S18-20     157.00      158.00    1.00          0.92      7.19 
And        170.32      177.00    6.68          6.14      2.08 
--------------------------------------------------------------------- 
*TW = True Width (mathematically calculated based on current interpretation)

Froome

The Froome deposit is located 2,800 ft (850 m) to the West of the Black Fox open pit. It was discovered in 2014 and has a current Indicated resource of 159,000 gold ounces at a grade of 5.26 g/t.

Drilling at Froome during Q2 has identified a mineralized structure in the footwall, approximately 150 m North of the Main Froome Deposit (see Figure 2 in link below). The gold-bearing trend hosts clusters of positive drill intersections at Froome Northwest, North and Southeast that may lead to the definition of additional zones of mineralization proximal to the Froome Deposit. In addition, new drill intersections below the Froome Deposit suggest some incremental resource expansion potential. The potential to develop underground access to the Froome Deposit through mineralization in the footwall could provide a major enhancement to the project's economics and will be evaluated once drilling to better define the zones is complete.

Footwall drilling highlights include the following intersections:

19.42 g/t gold over 2.5 m, including 52.7 g/t gold over 0.83 m at the Footwall NW area;

7.97 g/t gold over 5.99 m at the Footwall North area; and

7.91 g/t gold over 3.12 m, including 13.9 g/t gold over 1.56 m at the Footwall SE area.

Drilling down-dip of the Froome Deposit encountered 4.04 g/t gold over 7 m, suggesting the mineralization continues at depth. Drilling at Froome will continue in Q3 to follow up on these results.

Significant Froome drill intersections include:
   
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Hole       Zone      From (m)  To (m)  Length (m)  TW (m)  Au (g/t) 
---------------------------------------------------------------------
18BF-663   Footwall 
             SE       58.00     62.00   4.00       3.12    7.91 
Including             58.00     60.00   2.00       1.56    13.90 
18PR-G234  Footwall 
             N        51.20     53.60   2.40       2.11    5.70 
18PR-G239  Footwall 
             NW       325.00    328.00  3.00       2.47    8.05 
18PR-G243  Footwall 
             NW       88.00     91.00   3.00       2.50    19.42 
Including             88.00     89.00   1.00       0.83    52.70 
And                   97.00     119.00  22.00      18.16   1.86 
Including             113.00    118.00  5.00       4.13    3.97 
18PR-G245  Footwall 
             NW       198.8     200.00  1.20       0.99    12.92 
18PR-G247  Footwall 
             NW       67.00     79.00   12.00      10.02   1.28 
18PR-G248  Footwall 
             NW       300.20    302.00  1.80       1.45    9.61 
18PR-G256  Footwall 
             N        60.00     65.00   5.00       4.28    3.65 
Including             63.60     64.00   0.40       0.34    33.40 
And                   71.00     78.00   7.00       5.99    7.97 
Including             71.00     74.00   3.00       2.57    17.51 
18PR-G258A  Main      341.00    349.00  8.00       7.00    4.04 
18PR-G259  Footwall 
             N        83.00     86.00   3.00       2.60    9.46 
Including             84.00     85.00   1.00       0.87    17.55 
18PR-G262   Main      129.00    132.00  3.00       2.61    3.83 
---------------------------------------------------------------------  
Gibson

The Gibson exploration target area is adjacent the Grey Fox Deposit, where Indicated resources of 465,000 gold ounces at a grade of 6.64 g/t, and Inferred resources of 100,000 gold ounces at 6.83 g/t are currently defined.

The present dimensions of the Gibson Zone mineralization are approximately 100 m in length along strike and 400 m depth from near surface. Additional drilling is underway to better define the extent and orientation of the mineralization.

Hole 18GF-1079 returned 3.11 g/t gold over 34 m (core length), including 10.81 g/t gold over 6 m, from a new style of breccia mineralization identified at the Gibson area. This new intersection suggests the potential for extension of the mineralization to a 500 m depth below surface. Drilling will continue in Q3 to further assess the potential depth extension.

Significant Gibson drill intersections include:
 
---------------------------------------------------------------------  
Hole        From (m)   To (m)    Length (m)    TW (m)    Au (g/t) 
--------------------------------------------------------------------- 
18GF-1063   565.00     568.00    3.00          2.49      5.84 
18GF-1064   371.45     373.00    1.55          1.28      10.12 
18GF-1066   112.00     116.00    4.00          3.64      4.57 
18GF-1079   520.00     554.00    34.00           *       3.11  
Including   521.00     527.00    6.00            *       10.81 
18GF-1080   492.00     501.00    9.00          7.71      5.96 
Including   499.00     501.00    2.00          1.71      17.55 
18GF-1094   29.00      37.00     8.00          6.37      4.26 
Including   34.00      37.00     3.00          2.39      7.58  
--------------------------------------------------------------------- 
* True width unknown

Black Fox Underground

During Q2 a significant portion of the underground drilling was dedicated to confirming and expanding known mineralized trends that are located close to current workings and that could be brought into production quickly. Definition drilling to the east of 560 Central Zone (CZ) has extended the east sill nearly 30 m. Drill intercepts have recently been confirmed with high grade chip samples that were taken across development faces, including: 27.65 g/t gold over 3.4 m and 90.22 g/t gold over 3.3 m.

Central Zone drilling highlights include:
  
--------------------------------------------------------------------- 
Hole          From (m)   To (m)   Length (m)   TW (m)   Au (g/t)  
--------------------------------------------------------------------- 
560-F098-05*  77.00      85.10    8.10         6.12     27.76 
560-F098-14   63.00      70.00    7.00         4.90     12.72  
---------------------------------------------------------------------   
* Previously disclosed

Infill drilling targeting the 780 to 820-meter levels of the Deep Central Zone (DCZ) was designed to aid in future development and production planning and has returned high grade intercepts, showing the impressive nature and continuity of the DCZ at depth.

Deep Central Zone drilling highlights include:
   
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Hole          From (m)   To (m)   Length (m)   TW (m)   Au (g/t)  
--------------------------------------------------------------------- 
800-F302-13   64.22      73.00    8.78         7.52     44.41 
800-F302-15   66.00      68.67    2.67         2.43     141.19 
800-F302-16   52.00      61.00    9.00         7.63     43.45 
800-F302-18   60.00      63.19    3.19         2.72     47.86 
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Underground mining and exploration efforts in Q3 will be dedicated to: 1) Conversion of ounces from the resource to the reserve category, and 2) Development of an exploration drift to provide additional drill platforms to test the depth extension of the mine that remains open.

Resource Update

An updated mineral resource estimate for Black Fox Mine with an effective date of March 31, 2018 was completed by SRK Consulting (Canada) Inc. The resource update reflects improved modeling of underground voids, and additional definition and delineation drilling. SRK's methodology applied to the current resource remained consistent with that used in 2017. The tables (i-iii) (see link below) summarize the current resource estimates for the Black Fox Complex.

The next update of the Black Fox Complex resource estimates is planned at the end of the year, and will be published early in 2019 along with the revised and restated mineral reserve estimate.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/N5Q5XO7W


About McEwen Mining Inc

McEwen Mining NYSE:MUX

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.

    


Contact

Mihaela Iancu
Investor Relations
T: +1-647-258-0395 ext 320
E: info@mcewenmining.com



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