McEwen Mining Inc. announced on February 27, 2025, that exploration at its Grey Fox Deposit, part of the Fox Complex, successfully delivered a large increase in gold resources in 2024, with early 2025 results also proving encouraging. The 2025 exploration budget for the Fox Complex is US$9.7 million, including 68,500 meters of diamond drilling.
Highlights from late 2024 and early 2025 drilling include 17.7 g/t gold over 8.0 meters from drillhole 24GF-1520, 55.6 g/t gold over 0.6 meters from 24GF-1522, and 12.9 g/t gold over 4.3 meters and 15.3 g/t gold over 2.7 meters from 25GF-1525. Many of these new intercepts are located within 100 meters of the surface and near the historical Gibson Ramp, indicating near-term production potential.
The updated resource estimate for Grey Fox, released on February 4, 2025, outlined over 1,500,000 ounces of indicated gold mineralization and more than 450,000 ounces of inferred gold mineralization. The ongoing aggressive 25,000-meter drilling campaign at the Gibson Zone aims to continue growing the resource, particularly north of the ramp where higher grades and widths are indicated.
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