NYSE:
MUX

$2.45
+0.07 +2.94% Volume: 2,373,215 July 20, 2018
TSX:
MUX

$3.21
+0.04 +1.26% Volume: 143,735 July 20, 2018

San José Mine

ABOUT SAN JOSÉ MINE

Located in Santa Cruz, Argentina

The San José mine (owned 49% McEwen Mining and 51% Hochschild Mining) is an underground operation located approximately 20 km north of Goldcorp’s Cerro Negro project, in the northwest corner of the Deseado Massif region of Santa Cruz Province, Argentina.

About Diagram About Diagram

2017 Production

Estimates Silver
100.5K
Au Oz
Estimates Gold
6.4M
Ag Oz
Exploration
Potential
Great Address
High Grade
Narrow Vein

San José
Key
Operational
FACTS

Location Santa Cruz Province, Argentina
Workforce 1,400 (including contractors)
Estimated Mine Life 5 years
Mining Type Underground
Processing Method Grinding and floatation
Crushing/Processing Capacity 1,650 tonnes per day
2017 Production (100%)  100.5 thousand gold oz and 6.4 million silver oz

Production

The San José Mine is held in partnership between McEwen Mining (49% ownership) and Hochschild Mining (51% ownership). Below are presented the production numbers, with costs and sales for the last three full years.

McEwen Mining's guidance for 2018 production at San José is for 48 thousand gold oz and 3,225 thousand silver oz, for a total of 91 thousand gold equivalent oz, based on a 75:1 gold to silver ratio. Production in 2018 was of 10.8 thousand gold oz and 692 thousand silver oz for Q1, and of 12.1 thousand gold oz and 769 thousand silver oz for Q2.

San Jose (100%) Full Year
2017
Full Year
2016
Full Year
2015
Ore processed (thousand tonnes) 533 536 532
Average grade gold (gpt) 6.7 6.3 6.4
Average grade silver (gpt) 436 444 448
Average gold recovery (%) 87.4 87.8 88.8
Average silver recovery (%) 86.3 87.4 87.5
Gold produced (thousand oz) 100.5 95.0 96.6
Silver produced (thousand oz) 6,448 6,691 6,706
Gold sold (thousand oz) 99.6 99.8 88.8
Silver sold (thousand oz) 6,501 7,081 6,340
Co-product total cash cost Au (US$/oz) 847 751 871
Co-product total cash cost Ag (US$/oz) 11.07 10.24 11.45
Gold equivalent total cash cost (US$/oz) 839 760 865
Co-product all-in sustaining cash cost Au (US$/oz) 1,058 944 1,119
Co-product all-in sustaining cash cost Ag (US$/oz) 13.83 12.87 14.72
Gold equivalent all-in sustaining cash cost (US$/oz) 1,027 954 1,111
Silver pille

RESOURCES
& RESERVES

Silver

MEASURED & INDICATED

52,300,000OZ

INFERRED

10,100,000OZ

PROVEN & PROBABLE

20,700,000OZ
Gold pille

Gold

MEASURED & INDICATED

785,000OZ

INFERRED

188,000OZ

PROVEN & PROBABLE

313,000OZ

EXPLORATION
- NEW HIGH GRADE RESULTS

The San Jose Property Has Not Been Fully Explored

The Property Encompasses 
469,000 ACRES

The San José Property is located in the northwest corner of the Deseado Massif in the Santa Cruz Province in Argentina, where Jurassic bimodal volcanics host numerous gold- and silver-bearing quartz veins. Low sulphidation silver-gold and polymetallic mineralization accompanied Jurassic magmatism and deformation in the Deseado Massif.

The property consists of 98 mining concessions and 10 exploration rights covering approximately 469,000 acres. The sizable land package provides good potential for additional resource and reserve expansion.

The Bajo Pobre Formation is the main host for gold and silver mineralization, where veins are typically developed in competent andesite flows at the Huevos Verdes, Frea and Kospi deposits on the San José property and to a lesser extent in volcaniclastic units.

The San José deposits are considered to be typical low sulphidation silver-gold epithermal vein deposits. The main structural trend of fault and vein systems on the property is northwest to north-northwest, together with less prominent east striking and north to northeast striking faults and veins.