McEwen Inc. (NYSE: MUX) (TSX: MUX) announced it has filed NI 43-101 technical reports on SEDAR+ for its Grey Fox Project in Ontario and the Lookout Mountain and Windfall deposits in Nevada. The filings support previously released prefeasibility and mineral resource estimates, providing detailed insights into the projects' potential.
The Grey Fox technical report outlines a 15-year mine life with probable mineral reserves of 980,300 contained gold ounces. The project shows a post-tax net present value of $282 million at a $3,000-per-ounce gold price, increasing to $841 million at $4,500 gold. These figures underscore the project's economic viability, especially in a rising gold price environment. The report is available through the company’s SEDAR+ filings and supports previously announced project results, as detailed in the press release at https://ibn.fm/cmmP2.
For the Lookout Mountain and Windfall deposits in Nevada, the technical report confirms combined indicated mineral resources of 629,800 gold ounces and inferred resources of 262,000 gold ounces. Most of these contained ounces occur in oxide mineralization, which is considered potentially amenable to heap-leach processing. This processing method could offer lower capital and operating costs, enhancing project economics.
McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides shareholders with exposure to a growing base of gold and silver production, in addition to a very large copper development project, all in the Americas. The gold and silver mines are located in prolific mineral-rich regions, including the Cortez Trend in Nevada, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame, and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX’s profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
The filing of these technical reports marks a significant step for McEwen Mines, providing transparency and detailed information for investors. The reports confirm the potential of the company's gold assets, particularly at higher gold prices, and support the company's strategy to advance its projects in North America.
