Exploration Targets Progress At The Gold Bar Mine Property

TORONTO - McEwen Mining Inc. reported on progress at various exploration targets on its Gold Bar Mine property. At the Gold Bar South oxide gold deposit located 3.5 miles southeast of the Gold Bar Mine, a program of 125 drill holes was recently completed. 25% of the new drill intersections were higher grade than the current resource average of 0.029 ounces per ton (1 g/t). In addition, several drill holes encountered significant mineralization outside the existing resource, including several notable intersections. These results suggest that there is potential to increase the size of the Gold Bar South resource beyond the current Indicated estimate of 3,488 ktons at 0.029 opt (1 g/t) for 100 koz. Economic studies and permitting are underway with the objective of incorporating Gold Bar South into the overall mine plan this year, and having permitting in place so that open pit development could begin in late 2020.

Reverse circulation (RC) holes are being drilled to test the lateral and vertical extent of a near-surface target at Pot Canyon where extensive alteration (silicification) and brecciation occurs at surface, and where several historical holes returned significant mineralization including 1.14 g/t Au over 42.7 m and 0.71 g/t Au over 65.5 m. In addition, deep core drilling is currently testing a target below Pot Canyon for potentially large Carlin-type gold mineralization. This drilling occurs near the Wall Fault, a regional structure interpreted to play an important role in the control of gold mineralization at Gold Bar. Initial assay results from this target will be received later in August. McEwen has been adding to its land holding around the Gold Bar Mine. The company recently purchased rights to the Gold Canyon property as well as other strategic claims surrounding and within the core Gold Bar property. 

The company’s address is 150 King Street West, Suite 2800, Toronto, ON, M5H 1J9, (647)-258-0395, www.mcewenmining.com.