McEwen Mining Doubles Gold Resources at Grey Fox Deposit

McEwen Mining Inc. has reported a significant increase in gold resources at its Grey Fox deposit, with a 32% rise in indicated resources and a 95% surge in inferred resources compared to previous estimates. This increase, as of December 31, 2024, is attributed to successful exploration efforts, including the discovery of new gold lenses and favorable economic conditions, allowing for a lower cut-off grade. The deposit, located near the prolific Porcupine-Destor fault, is subdivided into six zones and is expected to enhance future production and extend the mine's operational life. Rob McEwen, the company’s Chairman, emphasized that this expansion will enable increased annual production. A complete update on the mineral resources at the Fox Complex is anticipated in the coming weeks. The discovery cost for this increase was reported at approximately $14.46 per ounce.