McEwen Inc. (NYSE: MUX) (TSX: MUX) announced Monday that 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 reports support previously released prefeasibility and mineral resource estimates, providing detailed geological and engineering data for these gold assets.
The Grey Fox technical report outlines a 15-year mine life with probable mineral reserves of 980,300 contained gold ounces. The project's post-tax net present value is estimated at $282 million at a $3,000-per-ounce gold price, increasing to $841 million at $4,500 gold. The report also details initial capital costs and operating costs, reinforcing the project's economic viability.
For the Lookout Mountain and Windfall deposits, the technical report confirms combined indicated mineral resources of 629,800 gold ounces and inferred resources of 262,000 gold ounces. The majority of contained ounces occur in oxide mineralization, which is considered potentially amenable to heap-leach processing, a lower-cost extraction method. The reports are available through the company's SEDAR+ filings.
McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides exposure to a growing base of gold and silver production as well as a large copper development project, all in the Americas. Its 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.
The company holds a 46.3% interest in McEwen Copper, which owns the Los Azules copper development project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million (US$7.67 per share). The Los Azules project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a company deploying PhotonAssay units globally, a technology that McEwen believes is poised to become the new industry standard for assaying precious and base metals.
