Exploration – New High Grade Results
The San José mine has not been fully explored. The property encompasses approximately 123,000 acres, and there is good potential for additional resource and reserve expansion.
On October 18, 2012, the Company announced the discovery of another new vein system at the San José mine. This result is part of the largest exploration program ever being conducted at the mine this year ($14 million budget). The new discovery is the high-grade gold/silver Emilia vein, located within the known San José area. The Emilia vein has been traced over a strike length of more than 1,000 meters and it is open to the east and at depth. The discovery of this new vein system is encouraging and illustrates the prospective nature of the San José mine and the surrounding land package.
Drilling Highlights - Emilia Vein
|
Drill Hole
|
Intercept
(m)
|
True Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
|
SJD-496
including
|
2.30
1.00
|
0.53
0.23
|
22.8
46.4
|
3,403
6,951
|
SJD-1220
|
0.85
|
0.85
|
2.3
|
840
|
|
SJD-1246
including
|
1.65
1.00
|
0.73
0.31
|
44.5
71.3
|
2,251
3,579
|
|
SJD-1264
including
|
1.65
0.90
|
0.56
0.31
|
86.4
147.0
|
1,041
1,276
|
|
SJD-1269
including
|
4.70
1.00
|
0.89
0.19
|
11.6
30.4
|
86
212 |
In addition to the drilling planned at the San José mine, McEwen Mining is planning to drill 20,000 meters of diamond core drilling on its 100% properties adjoining the San José mine and Goldcorp's Cerro Negro project.
San José technical information on this page is the news release titled “McEwen Mining Third Quarter 2012 Production Results and Discovery of New Vein System at the San José Mine in Argentina” released on October 18, 2012 by McEwen Mining. To access the news release click here.
For additional technical information on San José, please see report titled "Technical Report on the San José Silver-Gold Mine, Santa Cruz, Argentina" with an effective date of December 31, 2011. The report was prepared by Eugene Puritch, P. Eng., David Burga, P. Geo, Alfred Hayden, P. Eng. And Fred Brown, CPG, Pr.Sci.Nat., all of who are considered independent of the Company as defined in Section 1.5 of NI 43-101. To access the report click here.
All resource and reserve estimates reported by McEwen Mining Inc. are calculated in accordance with 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability.