The Company is also pleased to update progress on the $5 million drilling program at the Gold Bar mine property near Eureka, Nevada, where encouraging new results support our confidence in the geological and mineral resource model driving operational improvement.
Figure 2 focuses on Stock West with a longitudinal view of the mineralization showing the pierce points of the various intercepts detailed in Table 1.
The goal of the PEA is to evaluate opportunities in the district, including the Fuller and Davidson-Tisdale deposits near Timmins, to understand the potential value represented for future exploration and development work.
McEwen Mining has committed $5 million toward drilling at the Gold Bar Mine in order to delineate new mineral resources, replace mining depletion, and further de-risk the geological and metallurgical models that are the basis of future production planning.
The Ridge oriented core drill program successfully confirmed mineralization, locally increasing the average grade of existing resource model blocks and extending mineralization into new areas.
McEwen Mining’s joint venture partner and mine operator Hochschild Mining is undertaking a $9.3 million drill program in 2021 at San Jose, of which $5.7 million is earmarked for exploration drilling of priority targets including the Escondida Vein and the Telken target .
Reliability of Information Regarding San JoséMinera Santa Cruz S.A., the owner of the San José Mine, is responsible for and has supplied to the Company all reported results from the San José Mine.
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, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with 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 the calculation of mineral resources and reserves, and other risks.
McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina.