Gold’s remarkable year
Gold truly enjoyed a remarkable 2024, relentlessly powering higher to many new records.
McEwen Mining (TSE: MUX) has drilled what could become a new source of ore for the Black Fox gold complex, located 65 km east of Timmins, Ontario in the Larder Lake district.
Drilling at the 147NE target of the Grey Fox area returned a best assay of 95.2 g/t gold over 0.9 metre. Other assays included 33.0 g/t gold over 3.1 metres, 47.4 g/t over 1.1 metre, 23.0 g/t over 1.8 metre, and 3.4 g/t over 36.8 metres.
McEwen says the 147NE target extends from surface to 250 metres. The mineralization can be as wide as 36 metres in areas where structures intersect volcanic flows, with narrow higher grades found in all the intersections.
The Grey Fox area is 5 km south of the Black Fox mine. Grey Fox has three deposits – 147, Contact and South – and two targets – 147NE and Gibson. The three deposits have a total indicated resource of 2.2 million tonnes at an average grade of 6.64 g/t gold. A scoping study is underway to evaluate the potential of mining the deposits and targets from a central underground ramp.
This article first appeared in the Canadian Mining Journal
