McEwen Mining Inc. provided an exploration update for its Grey Fox deposit, part of the Fox Complex in Ontario, Canada, on December 2, 2024. New assay results include 10.2 g/t Au over 11.1 meters from drillhole 24GF-1508 at Whiskey Jack, and 11.2 g/t Au over 5.8 meters from 24GF-1513 at Gibson.
Current geological modeling at Grey Fox indicates the presence of over 50 distinct mineralized lenses within an area of approximately 1.3 square kilometers. Over 90% of the existing 1.4 million ounces of gold resource is located within the top 300 meters from the surface.
The company plans to initiate its 2025 exploration campaign at Grey Fox on January 6th, with a budget of $9.7 million allocated for 69,500 meters of drilling. This program aims to identify potential near-term production gold ounces and test geophysical anomalies for further mineralization.
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