McEwen Mining: Grey Fox is Growing

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TORONTO, Dec. 03, 2019 (GLOBE NEWSWIRE) -- is pleased to report drill results from its Gibson and Whiskey Jack targets within the Grey Fox deposit area, a part of the Black Fox Complex in Timmins, Canada (see ). Highlights of the drilling from these two important targets are shown below in .

In 2018, hole 18GF-1079 intersected a broad interval of mineralization within an intrusion, which returned  Au over , including  Au over  (core lengths). Diamond drilling tested below hole 18GF-1079 and extended the mineralization by 820 ft (250 m) down dip with hole 19GF-1106; which intersected a higher-grade interval of  Au over  (core length), within a 200 ft (60 m) wide envelope of alteration and anomalous mineralization.

Follow-up drilling has continued with 19 holes completed since last release of results in May 2019 (see )Significant gold mineralization at Gibson has been outlined over a 1,650 ft (500 m) strike length and from surface to a depth of 2,600 ft (800 m). Hole 19GF-1147 returned the deepest intersection of Au over . Highlights of the Gibson drilling are included below:

The Whiskey Jack target is located where the contact between sedimentary and volcanic units changes orientation. Drilling followed-up on positive drill results released on November 4, 2019 including: Au over, includingAu over core length in hole 19GF-1242. Recent drilling intersected wide zones of strong gold mineralization (see ), including the highlight below:

Results for the three drill holes completed with assays suggest the gold mineralization may be hosted in at least two structures containing mineralized veins. The mineralized structures hosting the veins are believed to have a true width ranging from 6.5 to 13 ft (2 to 4 m), considerably narrower than the core length intersections.

Visible gold has been identified in six of nine holes completed so far this year at Whiskey Jack. Gold mineralization has been intersected over a strike length of 330 ft (100 m) and to a shallow depth of 660 ft (200 m) below surface.

The Gibson syenite intrusion hosting the gold mineralization extends over 1.5 mile (2.5 km) along the Gibson-Kelore Fault Zone (see ). There are two main styles of mineralization at Gibson; 1) breccia and crustiform veins from surface to a depth of approximately 1,150 ft (350 m) below surface and 2) dissemination-replacement style mineralization from approximately 980 ft (300 m) to at least 2,600 ft (800 m) below surface. Both styles of mineralization are interpreted to be synchronous with mineralization at the Contact, 147, and South zones.

For a glossary of technical terms and their definitions, please consult our mining glossary: 

McEwen has approximately 400.3 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 20% of the shares.

All intercept widths are true widths unless otherwise specified.

Composite criteria unless otherwise stated: Cut-off grade 3 g/t Au, minimum length 2 m, and maximum consecutive interval waste 3 m. If grade x length > 6 the composite will be added.

All exploration drill core samples at the Black Fox Complex were submitted as 1/2 core. Analyses reported herein were performed by the independent laboratories: ALS Laboratories, which is ISO 9001/IEC17025 certified, and AGAT Laboratories, which is ISO 9001/IEC17025 certified. McEwen’s quality control program includes systematic insertion of blanks, standard reference material and duplicates to ensure laboratory accuracy.

To determine the lengths of significant mineralized intervals, the following composite criteria was established: a minimum reportable interval length of 3 m was determined by establishing a cut-off grade of 3g/t gold for underground (1 g/t gold for near surface). A consecutive maximum length of 3 m of internal waste, including sub cut-off grade material, is allowed and incorporated into the reported composites. Where an interval of less than 3 m is considered, if the grade x length calculation is greater than 9 (3 for surface), it may be reported. There is no top cutting or capping of assays.

For further details about the Black Fox Complex project including the Gibson deposit, please see our NI 43-101 technical report titled "Technical Report for the Black Fox Complex, Canada" dated April 6, 2018 with an effective date of October 31, 2017 available on SEDAR () under our issuer profile.

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Globe Newswire: 11:00 GMT Tuesday 3rd December 2019

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