McEwen Inc. (NYSE: MUX) (TSX: MUX) announced 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 filings provide detailed support for previously released prefeasibility and mineral resource estimates, reinforcing the economic viability of 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. These figures underscore the project’s sensitivity to gold prices and its potential to generate significant returns.
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 report notes that most 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 and support previously announced project results.
The filing of these technical reports marks a key step in advancing McEwen’s gold portfolio. The Grey Fox project, located in the Timmins district of Ontario, and the Nevada deposits, situated in the Cortez Trend, are in prolific mining regions. The company also holds interests in other assets, including a 46.3% interest in McEwen Copper, which owns the Los Azules copper project in 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).
McEwen Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. The company’s shares trade on both the NYSE and TSX under the ticker MUX. For more details, the full press release can be viewed at https://ibn.fm/cmmP2.
