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McEwen Mining Inc.
Summary
| Project: | Fenix | |
|---|---|---|
| Deposit: | Fenix | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 7/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 9-7-2018: McEwen Mining Inc. announces a PEA report for its Fenix deposit at the Fenix project. PEA results incl. post-tax NPV of US $60M (5%), IRR of 28%, 12yr LOM at the project. McEwen Mining Inc. (McEwen) have 100% ownership of Project Fenix (Project) | |
| Resources: | (Resource, M+I): 13.006Mt @ 77g/t Ag, 0.39g/t Ag for 32.277Moz Ag, 161Koz Au contained at Fenix | |
| CP/QP: | [Resources]: William Willis (McEwen Mining Inc.) | |
| ABSTRACT: | McEwen Mining Inc. (McEwen) have 100% ownership of Project Fenix (Project) located in north-western Mexico, in Sinaloa state, Mocorito Municipality. Project Fenix is the title for the Project that is combining mineralized material sources from five locations that will be developed in two distinct process plant construction Phases, namely The Project is located approximately 100 km (60 mi) by air north-west of the Sinaloa state capital city of Culiacan in the western foothills of the Sierra Madre Occidental (SMO) mountain range. The concession area is located approximately 32 km (20 mi) by road from the village of Mocorito, approximately 48 km (30 mi) from the town of Guamuchil. The approximate coordinates for the center of the district are longitude 107°51’W and latitude 25°38’N. The processing facilities for the Project will be built at the existing El Gallo Gold Heap Leach operations, utilising the existing security, administration, workshop and laboratory facilities. McEwen owns its interest in the concessions through its 100% ownership of Nevada Pacific Gold Ltd., which owns 100% of Pangea Resources, Inc. Through Pangea Resources’ 100% ownership of Compania Minera Pangea, S.A. de C.V. (Minera Pangea), McEwen owns the concessions. The concessions consist of 1,126 square kilometers (238,320 ac) of land. Concession titles are granted under Mexican mining law and are issued by Secretaria de Economia, Coordinacion General de Minera, Direccion General de Minas (Direccion de Minas). Table 1 summarizes the Company’s land position in Mexico as of December 31, 2017. | |
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