McEwen Mining: Highlights from 2024 Drilling at the Recently Acquired Timberline Property Assay Highlights:
McEwen Mining (NYSE: MUX) has announced promising drill results from its 27-hole drilling program at the Windfall Project in Nevada, part of the recently acquired Timberline Property. Key intersections include 2.85 g/t Au over 33.5m, 1.57 g/t Au over 48.8m, and 1.47 g/t Au over 38.1m.
The drilling program demonstrated continuous oxide gold mineralization along a 1.6-km-long section of the Windfall fault zone, extending below historical pit bottoms. Of the 27 holes drilled, 15 intersected oxidized gold mineralization above 0.50 g/t Au, and 25 holes showed grades above 0.15 g/t Au over minimum 3.0m thickness.
The property has historical significance, with the Windfall Mine producing 24,000 oz of gold at 12.6 g/t Au in the early 1900s and 112,000 oz at 1.4 g/t Au in the 1980s. The project is located on patented claims, potentially allowing for faster permitting, with additional drilling planned for advancing toward a production decision.
McEwen Mining (NYSE: MUX) ha annunciato risultati promettenti dai suoi 27 pozzi di perforazione nel Progetto Windfall in Nevada, parte della recentemente acquisita Timberline Property. Le intersezioni chiave includono 2,85 g/t Au su 33,5 m, 1,57 g/t Au su 48,8 m e 1,47 g/t Au su 38,1 m.
Il programma di perforazione ha dimostrato una mineralizzazione continua di oro ossidato lungo un tratto lungo 1,6 km della zona di faglia Windfall, estendendosi sotto i fondi storici delle miniere. Dei 27 pozzi perforati, 15 hanno intersecato mineralizzazione di oro ossidato sopra 0,50 g/t Au, e 25 pozzi hanno mostrato gradi superiori a 0,15 g/t Au su uno spessore minimo di 3,0 m.
La proprietà ha un'importanza storica, con la miniera Windfall che ha prodotto 24.000 oz di oro a 12,6 g/t Au all'inizio del 1900 e 112.000 oz a 1,4 g/t Au negli anni '80. Il progetto si trova su concessioni brevettate, il che potrebbe consentire un permesso più rapido, con ulteriori perforazioni pianificate per avanzare verso una decisione di produzione.
McEwen Mining (NYSE: MUX) ha anunciado resultados prometedores de su programa de perforación de 27 pozos en el Proyecto Windfall en Nevada, parte de la propiedad Timberline adquirida recientemente. Las intersecciones clave incluyen 2.85 g/t Au sobre 33.5 m, 1.57 g/t Au sobre 48.8 m y 1.47 g/t Au sobre 38.1 m.
El programa de perforación demostró mineralización continua de oro oxidado a lo largo de un tramo de 1.6 km de la zona de falla Windfall, extendiéndose por debajo de los fondos históricos de las minas. De los 27 pozos perforados, 15 intersectaron mineralización de oro oxidado por encima de 0.50 g/t Au, y 25 pozos mostraron grados por encima de 0.15 g/t Au sobre un espesor mínimo de 3.0 m.
La propiedad tiene una importancia histórica, con la mina Windfall produciendo 24,000 oz de oro a 12.6 g/t Au a principios de 1900 y 112,000 oz a 1.4 g/t Au en los años 80. El proyecto está ubicado en concesiones patentadas, lo que podría permitir un permiso más rápido, con perforaciones adicionales planeadas para avanzar hacia una decisión de producción.
맥유언 마이닝 (NYSE: MUX)는 네바다의 윈드폴 프로젝트에서 27개의 시추 프로그램으로부터 유망한 시추 결과를 발표했습니다. 주요 교차점으로는 2.85 g/t Au, 33.5m에서, 1.57 g/t Au, 48.8m에서, 1.47 g/t Au, 38.1m에서가 있습니다.
시추 프로그램은 윈드폴 단층대의 1.6km 길이 구간을 따라 지속적인 산화 금 광물화를 보여주었으며, 역사적인 피트 바닥 아래로 연장되었습니다. 27개의 시추공 중 15개가 0.50 g/t Au 이상의 산화 금 광물화와 교차하였고, 25개 시추공은 최소 3.0m 두께에 대해 0.15 g/t Au 이상의 등급을 나타냈습니다.
이 부지는 역사적으로 중요한 의미를 가지며, 윈드폴 광산은 1900년대 초에 24,000 oz의 금을 12.6 g/t Au로 생산했으며, 1980년대에는 112,000 oz를 1.4 g/t Au로 생산했습니다. 이 프로젝트는 특허가 있는 권리에 위치하고 있어 더 빠른 허가가 가능할 수 있으며, 생산 결정을 향해 나아가기 위한 추가 시추가 계획되어 있습니다.
McEwen Mining (NYSE: MUX) a annoncé des résultats de forage prometteurs issus de son programme de forage de 27 trous sur le Projet Windfall au Nevada, qui fait partie de la propriété Timberline récemment acquise. Les intersections clés incluent 2,85 g/t Au sur 33,5 m, 1,57 g/t Au sur 48,8 m et 1,47 g/t Au sur 38,1 m.
Le programme de forage a démontré une minéralisation continue d'or oxydé le long d'un secteur de 1,6 km de la zone de faille Windfall, s'étendant sous les fonds historiques des mines. Parmi les 27 trous forés, 15 ont intersecté une minéralisation d'or oxydé supérieure à 0,50 g/t Au, et 25 trous ont montré des teneurs supérieures à 0,15 g/t Au sur une épaisseur minimale de 3,0 m.
La propriété a une signification historique, la mine Windfall ayant produit 24 000 oz d'or à 12,6 g/t Au au début des années 1900 et 112 000 oz à 1,4 g/t Au dans les années 1980. Le projet est situé sur des revendications brevetées, ce qui pourrait permettre un permis plus rapide, avec des forages supplémentaires prévus pour avancer vers une décision de production.
McEwen Mining (NYSE: MUX) hat vielversprechende Bohrergebnisse aus seinem 27-Bohrlöcher umfassenden Programm im Windfall-Projekt in Nevada, das Teil des kürzlich erworbenen Timberline-Eigentums ist, bekannt gegeben. Zu den wichtigsten Schnittpunkten zählen 2,85 g/t Au über 33,5 m, 1,57 g/t Au über 48,8 m und 1,47 g/t Au über 38,1 m.
Das Bohrprogramm zeigte eine kontinuierliche mineralische Goldlagerstätte entlang eines 1,6 km langen Abschnitts der Windfall-Verwerfung, die unterhalb der historischen Grubenböden reicht. Von den 27 gebohrten Löchern schnittens 15 oxidiertes Goldmineral über 0,50 g/t Au, und 25 Löcher zeigten Gehalte über 0,15 g/t Au über eine Mindestdicke von 3,0 m.
Die Liegenschaft hat historische Bedeutung, da die Windfall-Mine in den frühen 1900er Jahren 24.000 oz Gold bei 12,6 g/t Au und in den 1980er Jahren 112.000 oz bei 1,4 g/t Au produzierte. Das Projekt befindet sich auf patentierten Ansprüchen, was möglicherweise eine schnellere Genehmigung ermöglicht, mit weiteren Bohrungen, die geplant sind, um eine Produktionsentscheidung voranzutreiben.
- Strong drill results with high-grade intersections up to 2.85 g/t Au
- 15 of 27 holes showed significant mineralization above 0.50 g/t Au
- Mineralization extends 1.6km and remains open at depth and along strike
- Patented claims status may accelerate permitting process
- Historical production confirms district's gold potential
- Additional drilling required before production decision
- Most grades lower than historical underground mining (12.6 g/t Au)
- Project still in exploration phase with no defined resource estimate
Insights
McEwen Mining's latest drill results from the Windfall Project represent a potentially significant development for the company's Nevada operations. The highlighted intercepts—including
The technical approach of drilling angled holes (versus historical vertical drilling) provides a more accurate assessment of the mineralization's true width and continuity. With 15 of 27 holes intersecting gold grades above
Two aspects particularly enhance the strategic value of these findings: First, the Windfall mineralized area sits on patented claims, potentially accelerating the permitting timeline compared to federal lands. Second, the property's location approximately
While these drill results mark just an initial step in the development process, the company's statement about advancing toward a production decision suggests confidence in the project's potential. Investors should note that significant work—including resource calculations, economic studies and permitting—remains before any production decisions can be finalized.
The drill results from McEwen Mining's Windfall Project contain several technically significant aspects that deserve investor attention. The intercepts reported—particularly
McEwen's drilling strategy directly addresses a critical technical flaw in the historical exploration approach. By drilling angled holes across the steeply dipping Windfall fault zone rather than parallel vertical holes, the company has likely captured a more accurate representation of the true mineralization width and grade distribution. This methodological improvement increases confidence in these new results compared to historical data.
The geological model identifying higher-grade zones at the intersection of northeast-trending faults with the main Windfall fault provides clear targets for future drilling. This structural control on mineralization is a common pattern in Nevada gold deposits and suggests potential for additional high-grade discoveries along the
With mineralization beginning near-surface (as shallow as
WF006: 2.85 g/t Au over 33.5 m from 64.0 m (0.083 oz/T Au over 110 ft)
Incl. 6.96 g/t Au over 10.7 m from 83.8 m (0.203 oz/T Au over 35 ft)
WF018: 1.57 g/t Au over 48.8 m from 80.8 m (0.046 oz/T Au over 160 ft)
WF012: 1.47 g/t Au over 38.1 m from 41.1 m (0.043 oz/T Au over 125 ft)
TORONTO, March 03, 2025 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce drill results for its initial 27-hole drilling program recently completed at the Windfall Project, part of the Timberline Property near Eureka, Nevada. Highlights are shown in Table 1. McEwen Mining acquired this property as part of the Timberline Resources acquisition in 2024 (press release dated August 19, 2024).
These results, from holes drilled in Q4 2024, demonstrate the continuity of oxide gold mineralization along a 1.6-km-long (1 mile) section of the north-south-trending Windfall fault zone, including mineralization extending below the bottoms of the historical pits. In the early 1900s, underground gold mining at the Windfall Mine produced 24,000 oz of gold at a grade of 12.6 g/t Au (0.368 oz/T Au). More recently, open pit mining in the early 1980’s produced 112,000 oz gold at a grade of 1.4 g/t Au (0.041 oz/T Au) (Timberline Resources S-K 1300 report, 2023).
Table 1. Highlights from 2024 drilling at the Windfall Project. Select results grading over 0.50 g/t Au (0.015 oz/T Au) from the 27-hole program are shown. CN Ratios represent the percentage of cyanide recovery of gold in the pulp samples. Not all results are shown. Conversions from imperial to metric units may not add up exactly due to rounding.
| Drill Hole | From (m) | To (m) | Length (m) | Au (g/t) | From (ft) | To (ft) | Length (ft) | Au (oz/T) | CN Ratio % | |
| WF001 | 56.4 | 71.6 | 15.2 | 0.68 | 185 | 235 | 50 | 0.020 | ||
| incl. | 56.4 | 62.5 | 6.1 | 1.25 | 185 | 205 | 20 | 0.037 | ||
| WF006 | 64.0 | 97.5 | 33.5 | 2.85 | 210 | 320 | 110 | 0.083 | ||
| incl. | 83.8 | 94.5 | 10.7 | 6.96 | 275 | 310 | 35 | 0.203 | ||
| and | 135.6 | 152.4 | 16.8 | 3.43 | 445 | 500 | 55 | 0.100 | ||
| incl. | 137.2 | 144.8 | 7.6 | 5.86 | 450 | 475 | 25 | 0.171 | ||
| WF009 | 61.0 | 71.6 | 10.7 | 2.42 | 200 | 235 | 35 | 0.071 | ||
| WF012 | 41.1 | 79.2 | 38.1 | 1.47 | 135 | 260 | 125 | 0.043 | ||
| incl. | 42.7 | 64.0 | 21.3 | 2.27 | 140 | 210 | 70 | 0.066 | ||
| WF013 | 10.7 | 29.0 | 18.3 | 0.89 | 35 | 95 | 60 | 0.026 | ||
| incl. | 10.7 | 15.2 | 4.6 | 1.88 | 35 | 50 | 15 | 0.055 | ||
| WF014 | 7.6 | 27.4 | 19.8 | 0.56 | 25 | 90 | 65 | 0.016 | ||
| incl. | 10.7 | 15.2 | 4.6 | 1.06 | 35 | 50 | 15 | 0.031 | ||
| WF015 | 48.8 | 70.1 | 21.3 | 1.87 | 160 | 230 | 70 | 0.055 | ||
| WF016 | 89.9 | 111.3 | 21.3 | 1.59 | 295 | 365 | 70 | 0.046 | ||
| incl. | 91.4 | 102.1 | 10.7 | 2.72 | 300 | 335 | 35 | 0.080 | ||
| WF017 | 56.4 | 73.2 | 16.8 | 0.88 | 185 | 240 | 55 | 0.026 | 88.9% | |
| WF018 | 80.8 | 129.5 | 48.8 | 1.57 | 265 | 425 | 160 | 0.046 | ||
| incl. | 83.8 | 89.9 | 6.1 | 5.12 | 275 | 295 | 20 | 0.150 | ||
| WF020 | 65.5 | 80.8 | 15.2 | 0.92 | 215 | 265 | 50 | 0.027 | ||
| incl. | 68.6 | 73.2 | 4.6 | 2.23 | 225 | 240 | 15 | 0.065 | ||
| WF025 | 76.2 | 100.6 | 24.4 | 2.03 | 250 | 330 | 80 | 0.059 | ||
| incl. | 86.9 | 93.0 | 6.1 | 5.85 | 285 | 305 | 20 | 0.171 | ||
| WF026 | 76.2 | 103.6 | 27.4 | 1.46 | 250 | 340 | 90 | 0.043 | ||
| WF028 | 76.2 | 89.9 | 13.7 | 0.77 | 250 | 295 | 45 | 0.023 | 99.7% | |
| incl. | 77.7 | 83.8 | 6.1 | 1.29 | 255 | 275 | 20 | 0.038 | 91.8% | |
| WF029 | 47.2 | 67.1 | 19.8 | 0.57 | 155 | 220 | 65 | 0.017 | 79.3% | |
Figure 1 shows a location map of the Timberline Property, which includes the Lookout Mountain Project that hosts a Measured and Indicated resource containing 423,000 oz gold at a grade of 0.58 g/t Au (0.017 oz/T Au). Past open pit production in the early 1980s at Lookout Mountain was 17,700 oz of gold at a grade of 4.1 g/t Au (0.120 oz/T Au) (Timberline Resources S-K 1300 report, 2023).
Figure 1. Location map of the Timberline Property with the position of Windfall and Lookout Mountain projects. The Timberline property is about 50 km (32 miles) southeast of McEwen’s currently operating Gold Bar Mine.
Gold mineralization is contained within silicified and decalcified breccia within the steeply-east-dipping Windfall fault zone that forms the contact between the Dunderberg and Hamburg Formations. This zone of deformation and alteration extends north-south for 3.2 km (2 miles) and can be seen in the walls of the historical open pits.
Twenty-seven reverse circulation angled holes were drilled across the fault towards the west to both evaluate and confirm the results of vertical holes drilled during the early 1980s (Figure 2). Most of the vertical historical holes were drilled nearly parallel to the fault zone, not completely testing the width of the steeply dipping mineralization. McEwen’s holes were drilled at angles to cross the Windfall fault zone and located just beneath and between the historical pits, to estimate the true width and continuity of the mineralization as close to the surface as possible (Figure 3). Many of McEwen’s holes found mineralization just below the historical pits, suggesting that gold mineralization continues from the old pits to depths of more than 100 m (300 ft) (Figure 4).
Gold mineralization is exposed in the walls of the historical pits. In drillhole intersections, the gold mineralization starts within 7.6 meters (25 ft) down-hole length and extends to greater than 152.4 meters (500 ft). Mineralization is open at depth and along strike to the north and south.
Of the 27 holes drilled by McEwen, 15 holes intersected oxidized gold mineralization grading above 0.50 g/t Au (0.015 oz/T Au) over thicknesses at least 3.0 m (10 ft) (Table 1) and 25 holes intersected gold grades above 0.15 g/t Au (0.004 oz/T Au) over thicknesses of at least 3.0 m (10 ft). Consideration for open pit mining would require ore-grade mineralization of at least 3.0 m (10 ft) in thickness.
Figure 2. Plan view map of Windfall Project with simplified geology showing the locations of McEwen’s 2024 drill hole collars along a mile-long (1.6 km) section of the Windfall fault zone (shown in grey). Gold mineralization occurs in the Windfall fault zone at the contact between the Dunderberg Formation and Hamburg Formation. This fault zone extends for more than 3.2 km (2 mi) north-south. Higher grade gold intersections occur where NE-trending faults (shown as dashed lines) intersect the Windfall fault zone. Post-mineral volcanic rocks and alluvium cover portions of the mineralized zone.
Figure 3. Map of selected results of 2024 drilling. The north-south-trending Windfall fault zone is shown in gray. Higher grade zones are found where NE-trending faults intersect the Windfall fault zone. Magenta, red and orange bars indicate the grade of gold intersections along drill hole traces. The yellow horizontal line marks where a cross section has been made across the fault zone and is shown in Figure 4 along with a plan view of the location.
Figure 4. Cross section of drill hole WF006 with 33.5 m (110 ft) grading 2.85 g/t Au (0.083 oz/T) Au within the Windfall fault zone. The two zones of gold in this hole are probably controlled by two mineralized faults.
The results of the Windfall drilling program have shown good continuity of mineralization across and along the Windfall Fault Zone, including extending from the bottom of the historical pits. Higher grade zones, localized by intersecting NE-trending faults, are targets for further drilling both laterally and down-dip. The Windfall mineralized area is located on patented claims, which are privately owned, and may allow for a shorter permitting timeline than other areas of the Timberline project. Additional drilling planned for this year aims to advance the project toward a production decision.
Technical Information
Technical Information regarding the Windfall Exploration Project contained in this news release has been prepared under the supervision of Robert Kastelic, CPG, McEwen Mining’s Exploration Manager in Nevada, who is a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.
The technical information related to resource and reserve estimates in this news release has been reviewed and approved by Luke Willis, P. Geo., McEwen Mining’s Director of Resource Modelling and a Qualified Person as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.
New analyses reported herein were submitted as reverse circulation drill cuttings and assayed by fire assay at the accredited Paragon Geochemical Lab (ISO 17025) in Reno, Nevada. Drill holes were drilled in feet and sampled in 5-foot intervals. Conversions from imperial units to metric may not add up exactly due to rounding.
CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, Quarterly Report on Form 10-Q for the three months ended March 31, 2024, June 30, 2024, and September 30, 2024, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc.
ABOUT MCEWEN MINING
McEwen Mining Inc. is a gold and silver producer with operations in Nevada (USA), Canada, Mexico, and Argentina. The company also owns
Focused on enhancing productivity and extending the life of its assets, the Company's goal is to increase its share price and provide investor yield. Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US
McEwen Mining's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol "MUX".
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FAQ
What are the key drilling results from MUX's Windfall Project in 2024?
How much historical gold production was achieved at MUX's Windfall property?
What is the extent of gold mineralization discovered in MUX's 2024 Windfall drilling program?
What are the next steps for MUX's Windfall Project development?
