McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today provided results of the updated Preliminary Economic Assessment (the “2023 PEA”) on the Los Azules Copper Project in San Juan Argentina (the “project”). The project is 100% owned by McEwen Copper Inc., which is 52% owned by McEwen Mining. According to the announcement, the PEA includes an updated independent mineral resource estimate, which increased to 10.9 billion (“B”) lbs. copper (“Cu”) (indicated, grade 0.40% ) and 26.7 B lbs. Cu (inferred, grade 0.31% ). Among the base highlights, the company reported total Cu recoverable to cathode of 8.68 billion lbs. (3.94 million tonnes), based on the life-of-mine (“LOM”) extraction of mineralized material containing approximately 11.90 billion lbs. of total Cu (5.40 million tonnes), and average copper recovery of 72.8%. The study is preliminary in nature and includes 26% inferred mineral resources in the conceptual mine plan. There is no certainty that the estimates in the PEA will be realized.
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About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns approximately 52% of McEwen Copper, which owns the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing its share price and providing a yield. Rob McEwen, chairman and chief owner, has personal investment in the company of US$220 million. His annual salary is US$1. For more information about the company, visit www.McEwenMining.com.
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