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News Breaks | | | | March 18, 2013 | | 07:35 EDT |  | MUX | McEwen Mining announces record resource estimate at the San Jose Mine
McEwen Mining announced that year-end 2012 mineral resource and reserve estimates and the grades for both gold and silver have increased from 2011 for the San Jose mine, wich is 49% owned by McEwen Mining. Of particular interest, the mineral resource estimates have increased to a record level. The mineral reserve and resource estimates were calculated using $1,200 per ounce gold and $20 per ounce silver. The estimates were independently audited by P&E Mining Consultants. Inferred gold and silver resources up 61% and 44%, respectively, to 497,400 ounces gold and 32.1M ounces silver, contained in 2.1M tonnes. Gold grades increased by 39% to 7.37 gpt and silver grades increased by 24% to 476 gpt. Proven and Probable gold and silver reserves up 7% and 20% respectively, to 367,100 ounces gold and 26.8M ounces silver, contained in 1.8M tonnes. Gold grades increased by 1% to 6.44 gpt and silver grades increased by 14% to 470 gpt. Measured and Indicated gold silver resources down 5% to 991,200 ounces gold while silver resources decreased marginally to 68.3M ounces silver, contained in 4.4M tonnes. Gold grades increased by 1% to 7.03 gpt and silver grades increased by 6% to 484 gpt. | |
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News For MUX From The Last 14 Days Check below for free stories on MUX the last two weeks. |
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| May 22, 2013 | | 07:27 EDT |  | MUX | Roth Capital to host a conference
 Subscribe for More Information | | | May 16, 2013 | | 08:11 EDT | | MUX | McEwen Mining plans to expand production at El Gallo 1 Mine in Mexico
McEwen Mining announced that the company will be expanding the El Gallo 1 Mine in Sinaloa, Mexico. The company expects this expansion will significantly increase gold production for a small amount of capital. El Gallo 1 mine to be increased from 3,000 to approximately 4,500 tonnes of ore per day. This, along with improvements in ore grade, would increase gold production from an estimated 27,300 ounces in 2013 to approximately 37,500 ounces in 2014 and 75,000 ounces in 2015. Initial capital cost estimated at approximately $5M. No need for debt or equity financing. Growth to be financed internally. El Gallo 2 Alternative: Evaluating potential to ship ore from El Gallo 2 to El Gallo 1, using current heap leaching facilities. Review will focus on silver recoveries -- early column tests returned between 45-62% silver -- and crushing/processing costs. If successful, this would eliminate approximately $170M in CapEx. | | | May 10, 2013 | | 09:00 EDT |  | MUX | McEwen Mining falls 5.7%
Subscribe for More Information | | | May 9, 2013 | | 07:58 EDT | | MUX | McEwen Mining says Q1 gold equivalent production increased 31%
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