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McEwen Mining releases Q3 2021 Production Results

Oct 7, 2021

McEwen Mining Inc. reports consolidated production for Q3 2021 was 32,100 gold ounces and 792,000 silver ounces, or 42,900 gold equivalent ounces, compared to 30,400 GEOs in Q3 2020. Consolidated production for the nine months ended September 30, 2021 is 114,300 GEOs, compared to 85,700 GEOs during the same period in 2020. 2021 production is trending towards the midpoint of the guidance range for the year.

Mining at Fox has transitioned to the Froome deposit, where commercial production was reached on September 19, 2021, 3 months ahead of schedule. The underground infrastructure at Froome is expected to be fully developed by June 2022.
Highlights of results and opportunities at Froome:

  1. Encouraging drill results were returned from near-mine exploration designed to extend the Froome resources and mine life, providing more time to bridge potential future production from the Grey Fox and Stock deposits. The Company expects to update the Froome resource and life-of-mine plan with the release of the Fox Complex Preliminary Economic Assessment (PEA) in late-Q4 2021.
  2. Although early in the overall mining process, there have been positive trends in metallurgical recovery, which is 2.2% above plan, and average gold grade, which is 3.8 g/t versus plan of 3.2 g/t.
  3. Cash costs and AISC per ounce produced are reflecting better than expected efficiencies during the initial ramp-up of production to commercial levels. 

Tags: Northern Ontario / Deals & Financial / Gold / All Articles