Announcement Date: 2022-03-29
Announcement Type: PEA
Announcement Code: NI43-101
Company name: McEwen Mining Inc.
Project name: Fox
Location: Canada
Commodities: Gold
Highlight: PEA results incl. post-tax NPV (5%) of US$175.0M
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: McEwen Mining Inc. (McEwen) engaged Wood Canada Limited (Wood), SLR Consulting (Canada) Ltd., and SRK Consulting (Canada) Inc. (SRK), together with McEwen, to prepare a technical report (Report) on a preliminary economic assessment (PEA) study for the Fox Complex Expansion (Project) located in Northern Ontario, Canada. The Project comprises several gold bearing properties, including the Black Fox Mine and Froome Mine, Tamarack, Grey Fox (Eastern properties), Stock West and Stock East, and the Western properties, including Fuller, Davidson-Tisdale, Buffalo-Ankerite and Paymaster. 1.2 Terms of Reference The Report is being used by McEwen as a conceptual study assessing the potential economic viability of the Project and to identify work required to advance the Project. In order to show the business case for the mine expansion from the current Froome operations, the economics of the mine expansion are broken out from the full mine plan and shown separately. The costs of the expansion and the additional revenue from the expansion are presented, including the NPV, IRR, and Payback Period.
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