McEwen hits high-grade gold zone at Nevada's Windfall project

Nevada Mining Association President Amanda Hilton (centre-right) visited the team earlier this year. Photo credit: McEwen Inc.

Gold

McEwen hits high-grade gold zone at Nevada’s Windfall project

A particularly rich section in one of the drill holes yielded 50.3 g/t Au and 782 g/t Ag

Rowan Dunne

Published

6 hours ago

Newly rebranded McEwen Inc (TSE: MUX) (NYSE: MUX) (FRA: US8) just reported high-grade gold hits at a Nevada exploration property near the Gold Bar Mine.

The company says the newly discovered zone at the Windfall project, residing 32 miles from its state gold production asset, has similar mineralization as the Ruby Hill operation run by I-80 Gold Corp (TSE: IAU) (NYSEAMERICAN: IAUX) (FRA: 8JI). Ruby Hill is one of Northern Nevada’s richest precious metal resources.

Most significantly, McEwen intercepted 50.3 grams per tonne gold and 782 g/t silver in a 1.3 metre section of drill hole WF033. This rich interval was contained within a 8.7 metre core with 8.1 g/t Au throughout.

One of the other holes also yielded 2.0 g/t Au over a considerable length of 38.3 metres.

The gold and silver rally has been ongoing for several months with no signs of stopping, thereby providing an enhanced level of enthusiasm for new additions in the core shack. Gold just hit a record price in excess of US$3,500 per ounce and silver just ascended to US$40 per ounce for the first time since 2011. Lead and zinc are less valuable byproducts contained in the newly drilled cores.

Both the Windfall project and Gold Bar operation reside in close proximity to the Goldstrike Mine — the state’s largest gold producing asset. Windfall and its neighbouring Lookout Mountain property in Eureka County have historically produced about 154,000 gold ounces.

Chairman and Chief Owner Rob McEwen’s current goal is for his company to achieve inclusion in the S&P 500 index.

Eureka County and the surrounding area hold properties that have yielded impressive drill results in recent weeks. In late June, for instance, NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) intercepted 2.85 g/t gold equivalent (AuEq) over 60.3 metres at the Limo Butte project in neighbouring White Pine County.