TORONTO, ONTARIO–(Marketwire – July 19, 2012) – McEwen Mining Inc. (NYSE:MUX)(TSX:MUX) is pleased to announce exploration drill results from its 100% owned El Gallo Complex, in Sinaloa State, Mexico. Drilling has extended the known mineralized zones within the Phase 1 production area, where mine commissioning is underway (Fig. 1). The most impressive hole returned 1.1 gpt gold over 71.3 m, including 6.6 gpt gold over 4.9 m, which is believed to be the widest intersection of +1 gpt gold recorded at the property (Fig. 2 & 3).
—————————————————————————- —————————————————————————- From To Thickness Gold Grade Hole (m) (m) (m) (GPT) —————————————————————————- MLX-008 47.7 61.6 13.9 1.7 Including 53.1 58.3 5.2 3.0 —————————————————————————- —————————————————————————- MLX-009 165.0 183.1 18.1 2.0 Including 165.0 165.8 0.8 40.9 —————————————————————————- —————————————————————————- MLX-010 0.0 4.3 4.3 1.5 —————————————————————————- —————————————————————————- MLX-012 114.8 133.4 18.6 2.1 Including 129.7 131.2 1.5 20.8 —————————————————————————- —————————————————————————- MLX-013 50.0 121.3 71.3 1.1 Including 76.1 81.0 4.9 6.6 Including 95.2 96.6 1.4 6.5 —————————————————————————- —————————————————————————-
Holes MLX-012 and MLX-009 were completed approximately 30 meters below the previous drilling in order to extend the known mineralization. These holes demonstrate that the zone remains open for possible expansion at depth. Hole MLX-010 was drilled in order to extend the mineralization near surface.
—————————————————————————- —————————————————————————- Gold From To Thickness Grade Dip Azimuth Easting Northing Hole (m) (m) (m) (GPT)(Degrees) (Degrees) (Degrees) (Degrees) —————————————————————————- —————————————————————————- MLX-007 91.2 93.5 2.3 2.2 -60 315 217769 2836286 —————————————————————————- —————————————————————————- MLX-008 47.7 61.6 13.9 1.7 -60 315 217809 2836324 Including 53.1 58.3 5.2 3.0 —————————————————————————- —————————————————————————- MLX-009 165.0 183.1 18.1 2.0 -65 315 217870 2836304 Including 165.0 165.8 0.8 40.9 —————————————————————————- —————————————————————————- MLX-010 0.0 4.3 4.3 1.5 -60 315 217824 2836414 —————————————————————————- —————————————————————————- MLX-011 76.4 135.6 59.2 0.3 -73 315 217858 2836389 —————————————————————————- —————————————————————————- MLX-012 114.8 133.4 18.6 2.1 -80 315 217860 2836374 Including 129.7 131.2 1.5 20.8 —————————————————————————- —————————————————————————- MLX-013 50.0 121.3 71.3 1.1 -50 315 217551 2836138 Including 76.1 81.0 4.9 6.6 Including 95.2 96.6 1.4 6.5 —————————————————————————- —————————————————————————-
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/MUX719figure1.pdf | ||
The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining Inc. | ||
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Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.