MEXCO – McEwen Mining of Toronto reports that it has made a new, high grade gold discovery near its El Gallo complex in Sinaloa. The company says the new Twin Domes has grades reminiscent of those mined between 1800 and 1950.
High gold grades have been identified from surface to a depth of 50 metres over a known strike of 375 metres. Hole #3 returned 4.6 metres grading 9.8 g/t Au, including 1.1 metre at 37.2 g/t. Hole #4 intersected 1.4 metres averaging 8.5 g/t Au, including 0.5 metre at 15.5 g/t and 0.5 metre at 12.1 g/t. Hole #8 assayed 8.8 g/t Au over 9.7 metres, including 29.5 g/t over 2.0 metres. The highest grade was 112.9 g/t Au over a 1.7-metre section of trench #1.
The Twin Domes find is located about 14 km west of the El Gallo complex. McEwen says there is “minor” evidence of artisanal mining, but the majority of the land involved is agricultural.
Phase 1 construction at the El Gallo complex was completed in September and the mine is expected to average 30,000 oz of gold per year. Phase 2, for which a feasibility study was recently completed, will add an additional 5.2 million oz of silver once in production. Combined, both phases are scheduled to produce approximately 135,000 oz Au Eq.
More about McEwen Mining may be read at (McEwenMining.com).