McEwen Mining Inc. reported on three outcomes of its large exploration investment at the Stock Mine property, part of the Fox Complex, in the prolific Timmins gold district of Northern Ontario, Canada: One, a 31% year over year increase of gold resources at Stock West and Stock Main (historical Stock Mine), with Two, confirmation of good grading structures plunging to depth; and Three, Stock East emerging as a potential new near-term source of future revenue. Geological interpretations suggest that two principal structures that plunge to depth, emanating from the historical
Stock Mine (see Fig. 1) control the mineralization of Stock West and Stock Main. Resources identified within these structures in 2023 account for most of the 31% increase in the Stock West and Main resource (see Table 2) when compared to year end 2022. The infill drilling at Stock West completed in 2023 demonstrated an increase in the widths of the mineralized zones with a slight decrease in the overall grade. Drilling along the deeper part of structures accounts for about half of the 31% increase in the updated resource estimate and demonstrates the potential for these structures to extend to depth and remain highly prospective for additional exploration and resource growth. Drilling in late 2023 and continuing into 2024 was designed to assess Stock East's potential to be a shallow source of near-term revenue during the construction phase of the access ramp at Stock West. Assay results from the infill drill program successfully identified mineable widths and grades. In addition, the block model updated in 2022 has been successful in forecasting the projected grades and widths for the new drilling. Stock East mineralization appears to be controlled by two plunge directions, with one similar to that seen for the rest of Stock structures (see Fig. 1 in upper right-hand corner and Fig. 3). An assay result from drillhole SEZ24-86 that returned 121.5 grams per tonne (g/t) gold (Au) over 0.4 meters (m), equivalent to 3.91 ounces per tonne (oz/t) Au over 1.3 ft (see Fig. 2), is very intriguing because of its high grade, proximity to surface and position outside the main mineralized zone (lying approximately 75 m in the hanging wall to the main Stock East zone). Its orientation suggests that earlier drilling may have missed other possible high-grade occurrences. To date, all of the drilling at Stock East has been in a mostly North to North-West orientation, therefore this particular intercept may have been mostly missed. Additional follow-up drilling is warranted to determine its true geometry.