Canadian company McEwen Mining has just announced exploration results from their ongoing $15 million exploration program at the Black Fox Complex near Ontario in Canada. McEwen intends to grow its known deposits and will continue to make new discoveries that contribute to near-term gold production.
The company recently completed a total of 39,300 metres of surface exploration drilling at the site, for a year-to-date total of 66,900 metres.
“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 of Exploration at McEwen Mining.
The Stock East Project covers a 6.5-kilometre section of the Destor-Porcupine fault and McEwen’s follow-up on historical intersections and geophysical targets returned better than expected results, which prompted an expanded 20,000-metre drilling program in early June.
McEwen’s Froome deposit was discovered in 2014 and has a current indicated resource of 159,000 gold ounces at a grade of 5.26 grams per tonne. The company recently identified a mineralised structure in the footwall, approximately 150 metres North of the Main Froome Deposit. Positive drill intersections may potentially lead to additional zones of mineralisation close to to the Froome Deposit. In addition, new drill intersections below the Froome Deposit suggest there is resource expansion potential.
The company also announced that additional drilling is now underway to better define the extent and orientation of the mineralisation in the Gibson exploration target area.
More information on these projects can be accessed here.