McEwen reports strong gold intercepts at Grey Fox

[Ben Graham]

McEwen (NYSE, TSX: MUX) says drilling at its Grey Fox project in Ontario continues to deliver attractive gold grades and widths, demonstrating continuity across key zones, namely Gibson and Grey Fox South.

New intercepts highlight the potential for near-term resource expansion, the Canadian miner stated, as it looks to build on the current resource of 1.54 million gold ounces at 3.64 g/t gold indicated and 458,000 ounces at 3.30 g/t inferred.

Geological similarities with large regional deposits, such as Canadian Malartic, reinforce Grey Fox’s growth potential, the company noted, adding that an updated resource estimate for Grey Fox, part of the larger Fox Complex, is expected next month.

“We are delighted to have four key projects driving our gold mining business in both the near and long term,” CEO and chief owner Rob McEwen stated in a press release. “Exploration drilling on our Fox Complex, specifically Grey Fox, continues to exceed expectations, while underground development at our Stock Mine and Froome West is progressing well.

He went on to say that these two developments are expected to increase the company’s gold production and lower its costs in 2026.

“With gold performing exceptionally well, our gold-focused projects and operations put McEwen in a strong position to take advantage of higher prices. Our goal over the next few years is clear: to grow annual output beyond 200,000 gold ounces and reduce production costs,” McEwen said.