Step-Out Drilling At McEwen's Newly Acquired Tartan Mine Project Returns Meaningful Results Along Western Flank: 7.5 gpt Gold Over 18.9 Metres
McEwen transforms from a high-cost gold producer to a copper-heavy development play as Tartan Mine integration begins.
The most recent news (January 13, 2026) reports final drill results from the Tartan Mine Project in Manitoba, Canada. These results follow the completion of the acquisition of Canadian Gold Corp on January 5, 2026. High-grade intercepts, including 7.5 gpt gold over 18.9 meters and 6.6 gpt gold over 7.0 meters, were found in the Western Flank of the Main Zone. Of 39 holes drilled since 2023, 35 intersected potentially economic mineralization. The company is budgeting $3 million for Tartan exploration in 2026 and expects an updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) by late February 2026.
- Resource Growth: The drilling results are material as they confirm high-grade continuity in a "step-out" area, likely increasing the total ounces in the upcoming February MRE.
- Strategic Pipeline: The completion of the Canadian Gold Corp acquisition adds a high-grade, former-producing asset with existing infrastructure (ramp to 320m) to McEwen’s portfolio. This supports the corporate goal of doubling production to 250,000–300,000 GEOs by 2030.
- De-risking Exploration: A 90% hit rate (35 of 39 holes) suggests lower exploration risk for the Tartan Main Zone.
- Operational Transition: This acquisition provides a secondary growth pillar to the Fox Complex in Canada, reducing reliance on the ageing Froome Mine.
McEwen Inc. is a gold and silver producer with operations in Nevada (Gold Bar), Ontario (Fox Complex), and Argentina (49% of San José). The company's future value is heavily weighted toward its 46.4% interest in McEwen Copper, which owns the Los Azules project in Argentina. Los Azules is a Tier-1 copper project with a 21-year mine life and an after-tax NPV (8%) of $2.9 billion. The newly acquired Tartan Mine (Manitoba) is a high-grade gold development project intended to augment Canadian production.