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McEwen Mining: Fenix Project Feasibility Study Report Filed
McEwen MiningFebruary 16, 2021 GMT
TORONTO, Feb. 16, 2021 (GLOBE NEWSWIRE) McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) (“McEwen” or the “Company”) is pleased to announce the filing of a technical report prepared in accordance with National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (“NI 43-101”), for its 100%-owned Fenix Project (the “Project”), which is located in the State of Sinaloa, Mexico. The technical report is available on SEDAR under the Company’s profile at www.sedar.com.
McEwen Mining: Updated Gold Bar Resource and Reserve Estimates
TORONTO , Jan. 07, 2021
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce an updated Indicated Resource Estimate of
499,000 contained gold ounces and Probable Reserve Estimate of
302,000 recoverable gold ounces for the Gold Bar Mine in Nevada (“Gold Bar”). See Tables 1-3 for the updated estimates.
Gold Bar’s estimated after-tax net present value (NPV) discounted at 8% and using a gold price of $1,500/oz is in the range of
$62 to $76 million; while the upside case at a gold price of $1,900/oz is in the range of
$150 to $170 million. Potential mine life is in the range of 5 to 7 years based on currently estimated reserves.
Notes:
Mine Past Production (58,600 oz Au) + Current Reserves (302,000 oz Au) = 360,600 oz Au is 16.1% lower that 430,000 oz Au
Mineral Resources were estimated at a price of $1,725/ounce Au and are inclusive of Mineral Reserves. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that any part of the Mineral Resources estimated will be converted into a Mineral Reserves estimate. Mineral Resources were estimated using the guidelines set out in the CIM Definition Standards for Mineral Resources. Mineral Resources as stated are contained within an optimised pit shell that demonstrates reasonable prospects for eventual economic extraction.
TORONTO, Dec. 31, 2020 (GLOBE NEWSWIRE)
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce the highlights of a positive Feasibility Study (FS) for its 100%-owned Fenix Project, which is located in the State of Sinaloa, Mexico.
“The Fenix Feasibilty Study envisions a 9.5-year mine life with an attractive after-tax IRR of 28% using $1,500/oz gold and $17/oz silver. At current gold and silver prices, the project’s after-tax IRR almost doubles and the NPV more than triples versus the base case.
The project will incorporate an environmentally progressive method of tailings management, using inpit storage that creates multiple benefits, most importantly a secure containment of tailings enabling better reclamation results.