Mr. Sylvain Guerard reports
MCEWEN MINING: GREY FOX IS GROWING
McEwen Mining Inc. has released drill results from its Gibson and Whiskey Jack targets within the Grey Fox deposit area, a part of the Black Fox complex in Timmins, Canada. Highlights of the drilling from these two important targets are shown in the associated tables.
"The drill results reported today from Gibson and Whiskey Jack illustrate clearly the growth potential of the Black Fox property," said Sylvain Guerard, senior vice-president, exploration.
In 2018, hole 18GF-1079 intersected a broad interval of mineralization within an intrusion, which returned 3.1 grams per tonne gold over 34 metres, including 10.8 g/t Au over six m (core lengths). Diamond drilling tested below hole 18GF-1079 and extended the mineralization by 820 feet (250 m) downdip with hole 19GF-1106; which intersected a higher-grade interval of 16.9 g/t Au over three m (core length), within a 200-foot-(60 m)-wide envelope of alteration and anomalous mineralization.
Follow-up drilling has continued with 19 holes completed since last release of results in May, 2019. Significant gold mineralization at Gibson has been outlined over a 1,650-foot (500 m) strike length and from surface to a depth of 2,600 feet (800 m). Hole 19GF-1147 returned the deepest intersection of 13.2 g/t Au over three m. Highlights of the Gibson drilling are included in the associated table.
HIGHLIGHTS OF DRILL RESULTS FROM THE GIBSON TARGET (TRUE WIDTHS ARE NOT KNOWN)
Hole ID From To Core length Core length Gold grade Gold grade
(m) (m) (m) (ft) (g/t) (oz/t)
19GF-1107 403.00 406.50 3.5 11.5 7.3 0.23
19GF-1122 433.00 435.50 2.5 8.2 8.2 0.26
and 549.21 557.00 7.8 25.6 5.6 0.18
and 693.00 698.00 5.0 16.4 4.7 0.15
and 807.00 809.00 2.0 6.6 13.3 0.43
including 807.00 808.00 1.0 3.3 26.6 0.86
19GF-1127 720.85 727.00 6.1 20.2 4.7 0.15
19GF-1130 47.00 51.00 4.0 13.1 8.7 0.28
including 49.00 50.00 1.0 3.3 21.4 0.69
19GF-1138 897.00 902.00 5.0 16.4 4.0 0.13
19GF-1147 935.00 938.00 3.0 9.8 13.2 0.42
including 936.00 937.00 1.0 3.3 26.5 0.85
19GF-1148 55.00 61.40 6.4 21.0 3.5 0.11
and 600.81 605.17 4.4 14.3 8.8 0.28
19GF-1176 452.00 455.00 3.0 9.8 7.9 0.25
19GF-1177 229.10 232.00 2.9 9.5 7.1 0.23
and 429.60 432.00 2.4 7.9 18.4 0.59
including 431.30 432.00 0.7 2.3 55.6 1.79
19GF-1182 481.00 483.00 2.0 6.6 13.6 0.44
including 481.00 482.00 1.0 3.3 23.5 0.76
Whiskey Jack target
The Whiskey Jack target is located where the contact between sedimentary and volcanic units changes orientation. Drilling followed up on positive drill results released on Nov. 4, 2019, including: 14.1 g/t Au over 8.4 m, including 59.1 g/t Au over 1.3 m core length in hole 19GF-1242. Recent drilling intersected wide zones of strong gold mineralization, including the highlight in the associated table.
HIGHLIGHT OF DRILL RESULTS FROM THE WHISKEY JACK TARGET (TRUE WIDTHS ARE NOT KNOWN)
Hole ID From To Core length Core length Gold grade Gold grade
(m) (m) (m) (foot) (g/t) (oz/t)
19GF-1248 181.00 225.00 44.0 144.4 9.0 0.29
including 199.00 221.00 22.0 72.2 14.8 0.48
and 232.00 242.00 10.0 32.8 6.3 0.20
including 232.00 234.00 2.0 6.6 22.8 0.73
Results for the three drill holes completed with assays suggest the gold mineralization may be hosted in at least two structures containing mineralized veins. The mineralized structures hosting the veins are believed to have a true width ranging from 6.5 to 13 feet (two to four m), considerably narrower than the core length intersections.
Visible gold has been identified in six of nine holes completed so far this year at Whiskey Jack. Gold mineralization has been intersected over a strike length of 330 feet (100 m) and to a shallow depth of 660 feet (200 m) below surface.
The Gibson syenite intrusion hosting the gold mineralization extends over 1.5 miles (2.5 km) along the Gibson-Kelore fault zone. There are two main styles of mineralization at Gibson: (1) breccia and crustiform veins from surface to a depth of approximately 1,150 feet (350 m) below surface and (2) dissemination-replacement-style mineralization from approximately 980 feet (300 m) to at least 2,600 feet (800 m) below surface. Both styles of mineralization are interpreted to be synchronous with mineralization at the Contact, 147 and South zones.
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 create a profitable gold and silver producer focused in the Americas.
Technical information pertaining to geology and exploration contained in this news release has been prepared under the supervision of Steven M.D. Scott, PGeo. Mr. Scott is a qualified person within the meaning of National Instrument 43-101.
Grams per tonne (g/t) converted to Troy ounces per tonne at ratio 31.1035:1.
All intercept widths are true widths unless otherwise specified.
Composite criteria unless otherwise stated: cut-off grade three g/t Au, minimum length two m and maximum consecutive interval waste three m. If grade by length greater than six the composite will be added.
All exploration drill core samples at the Black Fox complex were submitted as one-half core. Analyses reported herein were performed by the independent laboratories: ALS Laboratories, which is ISO 9001/IEC17025 certified, and AGAT Laboratories, which is ISO 9001/IEC17025 certified. McEwen's quality control program includes systematic insertion of blanks, standard reference material and duplicates to ensure laboratory accuracy.
To determine the lengths of significant mineralized intervals, the following composite criteria was established: A minimum reportable interval length of three m was determined by establishing a cut-off grade of three g/t gold for underground (one g/t gold for near surface). A consecutive maximum length of three m of internal waste, including subcut-off grade material, is allowed and incorporated into the reported composites. Where an interval of less than three m is considered, if the grade by length calculation is greater than nine (three for surface), it may be reported. There is no top cutting or capping of assays.
For further details about the Black Fox complex project including the Gibson deposit, please see the company's National Instrument 43-101 technical report titled "Technical Report for the Black Fox Complex, Canada," dated April 6, 2018, with an effective date of Oct. 31, 2017, available on SEDAR under the company's issuer profile.
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