McEwen Reports Attractive Gold Intercepts at Grey Fox; Results Support Resource Growth Ahead of Upcoming Resource Estimate; Gibson: 10.1 g/t Gold Over 5.8 m (25GF-1597) and 10.4 g/t Gold Over 5.6 m (25GF-1564), GFS: 4.8 g/t Gold Over 14.9 m (25GF-1575)
Executive Summary
- McEwen reported high‑grade gold intercepts from the Gibson Expansion Zone and Grey Fox South (GFS), reinforcing continuity of mineralization and supporting near‑term resource growth.
- Intercepts include 10.1 g/t Au over 5.8 m (hole 25GF‑1597) and 10.4 g/t Au over 5.6 m (hole 25GF‑1564) in Gibson, plus a broad 4.8 g/t Au over 14.9 m zone in GFS (hole 25GF‑1575).
- The company expects the updated Grey Fox resource estimate to be released in October 2025, with the new data likely increasing the current 1.538 Moz indicated and 458 koz inferred resources.
Key Details
- Drill Intercepts – Gibson Expansion Zone
- Hole 25GF‑1597: 10.1 g/t Au over 5.8 m (true width) – high‑grade vein, good continuity.
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Hole 25GF‑1564: 10.4 g/t Au over 5.6 m (true width) – within Gibson Expansion Zone.
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Drill Intercepts – Grey Fox South (GFS)
- Hole 25GF‑1575: 4.8 g/t Au over 14.9 m (true width) – broad mineralized zone.
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Hole 25GF‑1549: 4.4 g/t Au over 6.0 m (true width) – confirms mineable grades and widths.
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Current Grey Fox Resource (as of Feb 2025 press release)
- Indicated: 1,538,000 oz Au at 3.64 g/t.
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Inferred: 458,000 oz Au at 3.30 g/t.
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Resource Growth Outlook
- Updated 3D mineralization model incorporates new intercepts; expected to increase the forthcoming resource estimate (October 2025).
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Mineralization remains open‑ended both laterally and at depth, suggesting further upside.
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Exploration Program Highlights
- ~20,000 m drilled in H1 2025 targeting Gibson Ramp extensions for near‑term gold ounces.
- Continued focus on GFS zone to expand resource breadth and grade.
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Pre‑feasibility Study (PFS) for Grey Fox slated for Q1 2026.
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Strategic Context
- CEO Rob McEwen emphasizes Grey Fox as the key long‑term growth project, targeting >200,000 oz annual production by 2026 and lower costs.
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Geological analogues to Canadian Malartic reinforce confidence in large‑scale deposit potential.
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Technical Oversight
- Qualified Persons: Sean Farrell (Exploration Manager) and Luke Willis (Director of Resource Modelling).
- Assays performed on ½ core samples by MSA Labs (ISO 9001 & 17025).
Notable Quotes
“Our development work at the Stock Mine and Froome West positions us to increase gold production and lower costs in 2026… Grey Fox remains our key project for long‑term growth.” – Rob McEwen, CEO & Chief Owner.