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McEwen Mining Inc
Symbol MUX
Shares Issued 361,957,719
Close 2019-07-10 C$ 2.23
Recent Sedar Documents

McEwen drills 3.14 m of 33.01 g/t Au at 147NE

2019-07-10 16:52 ET - News Release

Mr. Rob McEwen reports

MCEWEN MINING EXPLORATION DRIVES A POTENTIAL NEW SOURCE OF PRODUCTION

McEwen Mining Inc. has released positive exploration results from the 147NE target, which was initially discovered in 2018 (see news releases dated Sept. 6, 2018, and May 23, 2019).

The Grey Fox area is located five kilometres south of the Black Fox mine and comprises three deposits: 147, Contact and South, and two targets: 147NE and Gibson. The deposits cumulatively host an estimated indicated resource of 465,000 ounces of gold (2.2 million tonnes at an average grade of 6.64 grams per tonne). The company is conducting a scoping study to evaluate the economics of mining these three deposits and two target areas by a central underground ramp system.

The known gold mineralization at the 147NE target occurs within a zone of altered mafic volcanics with veining and brecciation. Currently this zone measures approximately 250 metres in strike length, 200 m in depth from surface and has an average thickness of approximately 10 m.

Hole 19GF-1123 intersected an upper and a lower mineralized interval. The upper mineralized interval returned 95.2 g/t gold over 0.82 m. The lower mineralized interval intercepted 33 g/t gold over 3.14 m.

Hole 19GF-1133 intersected multiple mineralized intervals. An upper mineralized interval returned 47.4 g/t gold over 1.08 m. A lower zone, from 213 m to 253.9 m downhole, returned an average composite grade of 3.4 g/t gold over 36.78 m, which included several higher-grade intersections ranging from 7 g/t gold to 42 g/t gold over intervals ranging from 0.9 m to 3.37 m.

The development of the geological model indicates that in the areas where the mineralized structure cuts iron-rich mafic volcanic flows, the mineralized zone may thicken to form intervals of tens of meters (true width) with enhanced gold grades (i.e. >3 g/t Au), which include the presence of visible gold. Drilling is continuing in Q3 with the main objective of extending the mineralization along strike and down plunge at depth.

                            DRILL RESULTS FROM THE 147NE TARGET 

Hole-ID     From (m)   To (m)  Length (m)  True width (m)  Gold grade (g/t)  Gold grade (opt)

19GF-1110     217.63   221.00        3.27            2.83              4.59              0.15            
19GF-1111   No significant values                                                 
19GF-1115     281.00   286.00        5.00            4.12              5.90              0.19            
including     281.00   282.00        1.00            0.82             12.00              0.39            
19GF-1116     124.50   126.50        2.00            1.78              5.38              0.17            
19GF-1121*    199.00   202.10        3.10            2.74              5.14              0.17            
19GF-1123*    219.00   220.00        1.00            0.82             95.20              3.06            
and           325.00   328.80        3.80            3.14             33.01              1.06            
including     327.80   328.80        1.00            0.83            118.50              3.81            
19GF-1125   Significant hits but below the criteria of the composites             
19GF-1126     154.00   155.45        1.45            1.32              4.80              0.15            
and           213.00   214.00        1.00            0.91             14.65              0.47            
19GF-1133     147.80   149.00        1.20            1.08             47.40              1.52            
and           195.00   199.00        4.00            3.59              9.19              0.30            
including     195.00   196.00        1.00            0.90             32.80              1.05            
and           205.65   206.50        0.85            0.76              9.82              0.32            
and**         213.00   253.90       40.90           36.78              3.40              0.11            
and           214.00   217.75        3.75            3.37              7.00              0.23            
including     214.00   215.00        1.00            0.90             12.35              0.40            
and           228.00   231.00        3.00            2.70              7.90              0.25            
including     229.00   230.00        1.00            0.90             13.95              0.45            
and           236.00   238.00        2.00            1.80              4.67              0.15            
and           250.00   252.00        2.00            1.80             23.01              0.74            
including     250.00   251.00        1.00            0.90             41.90              1.35            
19GF-1140     228.00   229.00        1.00            0.80             29.90              0.96            
and           241.00   243.00        2.00            1.60              4.36              0.14            
 
*Assays pending for part of the hole
** Calculated with cut-off grade 0.5 g/t Au, minimum length of three m 
and maximum consecutive internal waste three m

About McEwen Mining Inc.

McEwen Mining is a diversified gold and silver producer with operating mines in Nevada, Canada, Mexico and Argentina. It also owns a large copper deposit in Argentina. McEwen's goal is to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas.

Qualified person

Technical information pertaining to geology and exploration contained in this news release has been prepared under the supervision of Ken Tylee, PGeo. Mr. Tylee is a qualified person within the meaning of National Instrument 43-101.

We seek Safe Harbor.

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