NYSE:
MUX

$2.18
+0.02 +0.93% Volume: 2,157,991 May 22, 2018
TSX:
MUX

$2.79
-0.03 -1.06% Volume: 236,175 May 22, 2018

BLACK FOX COMPLEX

About Black Fox

Located in Timmins

The Black Fox Complex is located in the well-established Timmins Gold Mining Camp in Northern Ontario, Canada. It is positioned approximately 10 kilometres east of the town of Matheson, 65 kilometres east of the city of Timmins and adjacent to Provincial Highway 101. Given the mine’s proximity to Matheson and Timmins, and that the region’s primary industries are mining and forestry, local supplies and services are easily available and can be delivered in a timely manner. The complex is composed of two land packages that total 1,750 hectares and cover 11 kilometres (7 miles) of the Destor-Porcupine Fault, known as the ‘Golden Highway’, which has a total strike length of approximately 200 kilometres (124 miles) and hosts many of Ontario’s richest gold mines. 

The Black Fox Mine is a key component of the complex, which also includes the Black Fox-Stock mill and the Froome and Grey Fox deposits. The Black Fox mine had an initial production from 1997 to 2001 and was re-commissioned, operating continuously from 2009. Commercial production from the Black Fox open pit occurred from May 2009 to September 2015, while underground mining commenced in October 2011. The open pit and underground operations at Black Fox mine produced a total of 835,000 ounces of gold to date. The Stock property surrounding the Black Fox-Stock mill is also the site of the former Stock Mine, which produced 137,000 ounces of gold from an underground operation between 1989 and 2005, bringing the combined production at the Black Fox Complex to 972,000 ounces of gold. 

About Diagram About Diagram

In October 2017 the Black Fox Complex was acquired by McEwen Mining. The Black Fox mine produced 51,209 ounces of gold at an average grade of 6.2 grams per tonne during the first three quarters of 2017 and 14,279 ounces of gold at a grade of 6.47 grams per tonne in the fourth quarter of 2017.   

Although there is a history of exploration and production, the land packages appear underexplored to depth and along trends. A 2018 property-wide exploration budget of $10 million will consist of approximately 200,000 feet (60,000 m) of surface drilling and 130,000 feet (40,000 m) of underground exploration and delineation drilling. The main objectives are to test for extensions of existing resources, follow up on significant drill results, and to investigate new exploration targets.

Operation Between 1989 - Present

Black Fox Gold
+970,000
Au Oz

MINING AND PROCESSING AT BLACK FOX

Commercial production from the underground mine began in October 2011. Underground ore is produced using a combination of long hole stoping, cut and fill, and narrow vein mining methods. Ore is accessed from a series of declines branching off from the main ramp to surface. The underground mine at Black Fox begins at the bottom of the open pit (approximately 200 metres below surface) and is expected to extend to more than 800 m in depth below surface. Ore mined at Black Fox is initially crushed on-site, transported 28 kilometres by road trucks to the Black Fox mill site and fed via a conveyor system to the mill’s crushing circuit.

The crushed product is transferred to a 1,500 tonne fine ore surge bin and then fed into 2,400 tonnes per day grinding circuit, which includes two stages of closed circuit ball milling. Soluble gold is recovered by adsorption upon granular activated carbon in CIC, CIL, and CIP trains, with a process efficiency of up to 96%. Gold is removed from the carbon in a high temperature strip vessel in a closed circuit with electro-winning deposition. Gold plate is further refined by induction smelting and cast into molds.

The Toxics Reduction Act (TRA) 2017 annual report can be downloaded here.

65 KM EAST OF TIMMINS