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Tuesday, May 30, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


McEwen Mining reports rich copper values at Argentina project

The results come from Los Azules, a large copper-gold-silver deposit located in the San Juan province

McEwen Mining reports rich copper values at Argentina project
Los Azules project, San Juan, Argentina. Photo via McEwen Mining

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX)’s copper subsidiary reported rich copper values over favourable widths today as a result of an infill drilling program at the company’s Argentina copper-gold-silver deposit.

On Thursday, McEwen Copper announced results from eight drill holes at the Los Azules project in the San Juan province. A 1.05 per cent concentration of copper (Cu) across 237 metres and a 1.71 per cent quantity throughout 108 metres in hole AZ22173 were the most significant results.

McEwen Mining owns a 68 per cent share in McEwen Copper and the remainder belongs to a series of new investors, including the former company’s CEO Rob McEwen.

Read more: Calibre Mining finds robust drill results from Golden Eagle project

Read more: Calibre Mining offers a ‘very attractive’ value-risk proposition: Haywood Securities

A total of 46 holes have been drilled at Los Azules since October throughout 11,900 metres.

“We have transitioned into 2023 with tremendous momentum, backstopped by 9 on-site drills, an active community engagement program and a fully staffed technical team advancing Los Azules towards feasibility,” said Michael Meding, Vice President and Manager of McEwen Copper.

“We are delivering a first-class technical evaluation on a copper deposit that will put Argentina at the forefront of critical metals production supporting worldwide electrification and a greener future for generations to come.”

McEwen Mining is a gold and silver producer with a series of projects throughout Canada, Nevada, Mexico and Argentina.

McEwen’s stock dropped by 1.55 per cent today to $9.50 on the TSX.

Read more: Calibre Mining Pan Mine assays show strong potential for Coyote mine target

Read more: Calibre Mining 2022 operating results show year round gold production of 222K ounces

Calibre Mining (TSX: CXB) (OTCQX: CXBMF) is another example of a Canadian gold producer with operations in Nevada and Latin America.

Calibre produced about 222,000 ounces of gold last year and recently made a short documentary about its environmental initiatives in Nicaragua, a country where it has major operations.

The Vancouver-based company released positive assay results for its Golden Eagle project in Washington on Tuesday.

According to the investment banking firm Haywood Securities Inc., investing in Calibre Mining is a smart move considering the company’s strong management and exploration team. Additionally, Haywood anticipates a 20 per cent year-over-year increase in production for Calibre this year.

Calibre’s stock value decreased by 1.75 per cent today to $1.12 on the TSX.


Calibre Mining is a sponsor of Mugglehead news coverage 


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