McEwen Mining (NYSE: MUX) (TSX: MUX) announced a significant increase in estimated gold resources at the Grey Fox deposit within its Fox Complex as of Dec. 31, 2024, compared to its 2021 estimate. The discovery cost averaged $14.46 per ounce, with new exploration drilling and higher gold prices contributing to the resource expansion. The updated resource estimate reflects a lower cut-off grade due to gold price adjustments from $1,750 to $2,000 per ounce. Chairman Rob McEwen stated that the expanded resources will support increased annual production and extended mine life. A full resource update is expected in the coming weeks.
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About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which is developing the large, advanced-stage Los Azules…
