McEwen Inc. (NYSE: MUX) (TSX: MUX) has announced the filing of NI 43-101 technical reports on SEDAR+ for its Grey Fox Project in Ontario and the Lookout Mountain and Windfall deposits in Nevada. These reports support previously released prefeasibility and mineral resource estimates, providing investors with detailed technical data on the company's gold assets.
The Grey Fox Project 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. This highlights the project's sensitivity to gold prices and its potential value in a rising gold market. The report is available through the company's SEDAR+ filings.
For the Lookout Mountain and Windfall deposits in Nevada, the technical report confirms combined indicated mineral resources of 629,800 gold ounces and inferred resources of 262,000 gold ounces. The majority of these contained ounces occur in oxide mineralization, which is considered potentially amenable to heap-leach processing. This method is typically lower cost and could enhance the economic viability of these deposits.
These technical reports are significant as they provide a detailed foundation for McEwen's gold development pipeline. The Grey Fox Project, located in the Timmins district of Ontario, is in a prolific mining region, while the Nevada deposits are situated on the Cortez Trend, another world-class gold belt. The company's focus on advancing these projects aligns with its strategy to grow gold production in the Americas.
McEwen also holds a 46.3% interest in McEwen Copper, which owns the Los Azules copper project in Argentina, designed to be one of the world's first regenerative copper mines with a goal of carbon neutrality by 2038. The implied value of McEwen's ownership interest in McEwen Copper is US$456 million, based on the last financing. Additionally, McEwen recently purchased 27.3% of Paragon Advanced Labs Inc., a company deploying PhotonAssay technology for precious and base metal assaying.
Chairman Rob McEwen has invested over US$250 million personally and takes a $1 per year salary, aligning his interests with shareholders. The filing of these technical reports provides the market with transparent, third-party verified data on key assets, supporting informed investment decisions. The reports are available on SEDAR+ and further details can be found in the company's newsroom at https://ibn.fm/MUX.
