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  • McEwen Mining Inc.: El Gallo Regional Exploration; Twin Domes Drilling Intersects Significant Near Surface Gold Mineralization MUX, TNR.v 0 comments
    Aug 19, 2013 1:56 PM | about stocks: TRRXF, MUX, GDX, GG, GLD, SLV, NEM, RGLD, AUY, SLW, GALXF, RDNAF, OROCF, LITHF, TLTHF, FMC, ROC, LIT, FCX, RIO, BHP, TCK, VALE

    (click to enlarge)

    Rob McEwen delivers new explorations results from his new Twin Domes discovery in Mexico.

    "9.7 gpt Gold over 10.3 Meters - 17 Meters below Surface
    5.0 gpt Gold over 16.8 Meters - 7 Meters below Surface
    Twin Domes is located 17 kilometers (10.5 miles) northwest of the Company's El Gallo 1 heap leach mine (Fig. 1). Initial test results show that the gold mineralization at Twin Domes is potentially amenable to heap leaching, which would allow it to be processed at El Gallo 1. Ten additional core holes were completed in this recent drilling. Although it is early, McEwen Mining is highly encouraged by these results and believes Twin Domes could have a positive impact on the El Gallo 1 mine."

    Higher Silver and Gold prices will provide future catalyst for this developing story and these encouraging exploration results show the basis to grow the resources for McEwen Mining in Mexico and potentially process it at the existing facilities at El Galo 1 after the ongoing expansion.

     

    Rob McEwen: Gold prices are going up in September MUX, TNR.v, GLD


    "Rob McEwen is bullish on Gold and his call about the bottom in the gold market has proven to be right so far. Silver action is particularly important for McEwen Mining now as it provides the very high leverage to its operations.

    (click to enlarge)

    Suddenly after all doom and gloom this story is looking very promising again and Shorts has to run to cover. Los Azules copper project can change it overnight for McEwen Mining and TNR Gold.

    Copper was building the base with the news from China about better economic data and high premiums in the copper supply chain due to the delivery delays. Positive news from Argentina will bring upcoming new PEA on Los Azules to the headlines again this Fall."

    (click to enlarge)

    McEwen Mining:

     

    MCEWEN MINING INC.: EL GALLO REGIONAL EXPLORATION; TWIN DOMES DRILLING INTERSECTS SIGNIFICANT NEAR SURFACE GOLD MINERALIZATION

    08/19/2013

    TORONTO, ONTARIO--(Marketwired - Aug. 19, 2013) - McEwen Mining Inc. (NYSE:MUX)(TSX:MUX) is pleased to announce core drill results from its new Twin Domes discovery, including9.7 gpt gold over 10.3 meters and 5.0 gpt gold over 16.8 meters. These results are a follow-up to the discovery holes announced in April, which intersected 8.8 gpt gold over 9.7 meters and 9.8 gpt gold over 4.6 meters, in addition to a trench that returned 20.9 gpt gold over 12.7 meters. The Company believes Twin Domes is attractive due to its higher gold grades and its close proximity to the Company's process plant.

    Twin Domes is located 17 kilometers (10.5 miles) northwest of the Company's El Gallo 1 heap leach mine (Fig. 1). Initial test results show that the gold mineralization at Twin Domes is potentially amenable to heap leaching, which would allow it to be processed at El Gallo 1. Ten additional core holes were completed in this recent drilling. Although it is early, McEwen Mining is highly encouraged by these results and believes Twin Domes could have a positive impact on theEl Gallo 1 mine. Highlights are shown below.

    Table 1: Twin Domes Exploration Highlights

     

     

     From

    (m)

    To

    (m)

    Thickness

    (m)

    Gold Grade

    (NYSE:GPT)

    TDX01139.845.05.27.1
    Including43.945.01.124.9
         
    TDX0121.05.54.510.0
    And25.933.47.51.9
         
    TDX01517.227.510.39.7
    Including24.825.40.7135.5
         
    TDX01618.427.59.11.7
         
    TDX01714.524.510.14.0
    Including16.4170.751.1
         
    TDX0187.324.116.85.0
    Including12.814.01.221.1
    Including18.321.12.814.9

    * See Table 2 for details of all recently drilled holes from Twin Domes.

    To date, gold mineralization at Twin Domes has been identified from surface to a depth of 45 meters. The known length (or strike) of the zone is approximately 275 meters. A total of 20 additional core holes have been planned in order to follow up on these results. This program will start next week.

    McEwen Mining also announces its technical report titled "Technical Report on San José Silver-Gold Mine, Santa Cruz, Argentina" dated August 15, 2013, has been filed on SEDAR pursuant to the National Instrument 43-101 requirements. The Technical Report includes the updated resource estimates previously announced by the Company in a press release dated March 18, 2013. The Technical Report has been filed under McEwen Mining's profile on SEDAR atwww.sedar.com and can also be viewed on the Company's website atwww.mcewenmining.com.About McEwen Mining (www.mcewenmining.com)

    The goal of McEwen Mining is to qualify for inclusion in the S&P 500 by creating a high growth, profitable, gold producer focused in the Americas. McEwen Mining's principal assets consist of the San José mine in Santa Cruz, Argentina (49% interest); the El Gallo 1 mine and El Gallo 2 project in Sinaloa, Mexico; the Gold Bar project in Nevada, US; the Los Azules project in San Juan,Argentina and a large portfolio of exploration properties in Argentina, Mexico and Nevada.

    McEwen Mining has 297,114,359 shares issued and outstanding at August 6, 2013.Rob McEwen, Chairman and Chief Owner, owns 25% of the shares of the Company.

    TECHNICAL INFORMATION:

    This news release has been viewed and approved byJohn Read, CPG, McEwen Mining'sconsulting geologist, who is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by the Company at its Mexican exploration properties. Samples from the core drilling were split on-site at the Company's El Gallo 1 mine. One half of the split drill core is shipped to ALS Chemex for sample preparation and analysis by fire assay for gold and 4-acid digestion with ICP determination for silver. Samples returning greater than 10 ppm gold or 1500 ppm silver were re-analyzed using gravimetric fire assay. Standards and blanks were inserted every 20 samples. All holes were drilled with HQ bits and reduced to NTW where required. Samples were taken based on lithologic and/or mineralized intervals and vary in length. Samples were analyzed by ALS Chemex using the same methods as for drill core samples. The true width of the mineral zones has not been determined.

    CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

    This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to accuracy of exploration results, calculation of mineral resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

    The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining Inc.

    Table 2: Recently Completed Holes from Twin Domes (Located in El Gallo Complex)

     

     

    HoleFrom

    (m)

    To

    (m)

    Thickness

    (m)

    Gold Grade

    (GPT)

    Dip

    (Degrees)

    Azimuth

    (Degrees)

    Easting

    (UTM)

    Northing

    (UTM)

    TDX009-----502351990762839024
             
    TDX01053.155.22.13.2-45601990072838980
             
    TDX01139.845.05.27.1-4560198984283892
    Including43.945.01.124.9    
             
    TDX0121.05.54.510.0-60601989972839025
    And25.933.47.51.9    
             
    TDX01328.432.33.93.7-45601989822839026
    Including30.431.20.813.6    
             
    TDX014-----45601990112839007
             
    TDX01517.227.510.39.7-45601989752839054
             
    TDX01618.427.59.11.7-45601989682839067
             
    TDX01714.524.510.14.0-45601989692839081
    Including16.4170.751.1    
             
    TDX0187.324.116.85.0-45601989702839090
             

    To view Figure 1 and Figure 2 accompanying this press release, please visit the following link: http://media3.marketwire.com/docs/892912.pdf

    Contact Information:

    McEwen Mining Inc.Sheena ScotlandInvestor Relations

    (647) 258-0395 ext 410 or Toll Free: (866) 441-0690

    (647) 258-0408 (NYSEMKT:FAX)

    McEwen Mining Inc.

    Mailing Address

    181 Bay Street Suite 4750

    Toronto, ON M5J 2T3

    PO box 792

    info@mcewenmining.com

    McEwen Mining Inc.

    Facebook: www.facebook.com/mcewenrob

    Twitter: www.twitter.com/mcewenmining"

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