McEwen Mining Inc. (NYSE, TSX: MUX) says a key step in the permitting process for its Gold Bar project in Nevada has been achieved, which should allow the company to begin mine development in the fourth quarter. The the Environmental Protection Agency has published a “notice of availability of the final environmental impact statement” in the Federal Register, the company says. Following a review period, a signed “record of decision” will be published, likely in early November, signifying the completion of the National Environmental Policy Act process, McEwen Mining says. “This is a key permit milestone for our Gold Bar project, that once constructed, is projected to produce 65,000 ounces of gold per year starting in 2019,” says Rob McEwen, chairman and chief owner of the company.
Barkerville drills 11.6 m of 20.53 g/t Au at Cariboo
IM-17-145: 20.53 g/t Au over 11.60 metres
IM-17-145: 87.66 g/t Au over 5.30 metres
IM-17-145: 17.34 g/t Au over 7.05 metres
IM-17-162: 13.58 g/t Au over 4.00 metres
IM-17-163: 11.21 g/t Au over 4.65 metres
IM-17-163: 13.71 g/t Au over 7.70 metres
Veining Corridors Continue to Expand
A newly defined veining corridor, the Beta Corridor, has been extended via the intersection of
20.53 g/t Au over 11.60 metres and 87.66 g/t Au over 5.30 metres at
vertical depths of 365 and 415 metres below surface in Phase II
drillhole IM-17-145. These new extensions occur 65 metres along vein
strike to the northeast of previously reported drillholes IM-17-134 and
IM-17-143 which intersected 53.26 g/t Au over 11.55 metres and 7.09 g/t
Au over 34.30 metres respectively. The new Beta Corridor pierce points
defined by IM-17-145 are untested along vein strike and down dip.
Another newly evolving vein network, the Gamma Corridor, was also
expanded at a vertical depth of 590 metres below surface by IM-17-145
having intersected 17.34 g/t Au over 7.05 metres. This pierce point is
situated 120 metres down plunge of previously reported drillhole
IM-17-124 which intersected 12.76 g/t Au over 25.40 metres. Again, this
new intersection in the Gamma Corridor is untested at depth and along
vein strike.
… and also nice to see that Pretium had results reported - up 19% this morning:
Pretium Resources Inc.: 82,203 Ounces of Gold Produced at the Brucejack Mine in Q3 2017
October 11, 2017
VANCOUVER, BRITISH COLUMBIA–(Marketwired - Oct 11, 2017) –
Pretium Resources Inc. (PVG)
(PVG) (“Pretium” or the “Company”) is pleased to report third quarter 2017 production results for the high-grade gold Brucejack Mine.
Third Quarter Production Highlights
82,203 ounces of gold produced
96.49 % gold recovery rate
261,262 tonnes of ore milled
2,840 tonnes per day on average processed
Here’s an update for gold…
Gold has now moved up through the red 20 EMA resistance and has, as of today’s candle, begun using it as support. The blue 50 MA lingers a tad above 1300. So that’s the range to watch for now as it pertains to moving averages.
As for the other chart, gold continued its move into the zone of resistance and hit near the top before pulling back. My attempt at drawing a useful downtrend line has proved fairly futile thus far so I’m not depending on any for the time being. So for now we’ve got a pretty narrow range to watch between about 1293 and 1303. The moving average chart seems to be more dependable for gold than do the trend lines, so I’ll be updating that more often.
MUX, for the time being, is in a range between the bottom of the gap at 2.24 and around $2. It may be hashing out a cup & handle or eve & adam formation… or no formation at all. Not much to do with it for now on this chart until some time passes.
For the next chart, Tuesday MUX tagged the blue 50 MA and fell down through and closed below the red 20 EMA. (I don’t know if that red candle is accurate or not. I’m presuming that the higher price action occurred in pre-market, otherwise the chart is wrong). Regardless, yesterday’s candle does appear accurate, and the 20 EMA functioned as resistance again, so we’re looking at a range between 2 bucks and that gap at 2.24. There’s only three things it can do, so we wait until it gives me something else to play with.
Hulk…whatever you do, don’t look at GGI !
Sprott should buy some Medinah, Is Sprott behind this GGI Pump, most probably.
If you know Eric Sprott, you know he’s not a pumper. Him financing them lends them creditability, then there’s rumours of outstanding cores that we’re flown direct to Vancouver that is probably fanning the surge in stock price
Had to, wow why do we find out about these stocks after their enormous runs? what a run but nothing compares to Aurelian resources with the Fruta del Norte .
The market is starting to come back our (MDMN/CDCH/Auryn/juniors) direction:
The Market Is STARVED For Discoveries
http://secure.campaigner.com/csb/Public/show/k5u5e--dlnh5-5l3r7yr6
See the series of interviews by Kitco News at the recent Mines & Money conference in Toronto. Several top gold company execs were interviewed with the recurring theme brought up by an exec of a major company: “We are running out of gold”. While somewhat hyperbole, I think the interviews do a pretty good job of fleshing out what that means.
Recent investments by large companies in smaller ones and citations here for recent runs in small company PM stocks (esp. gold) is all pointing toward are return of money toward the junior sector. If Auryn can get enough money to fund exploration from the Caren and get some decent results their timing could end up being pretty good.
Hi guys, I recommend you take a closer look at Garibaldi Resources [GGI] mentioned by Elrac and perhaps more importantly, Metallis Resources (MTS). Similar to CDCH in relation to MDMN, MTS has the adjoining property to GGI and has also been invested in by Eric Sprott. It has also had a big run but it’s price is much closer to what Sprott paid per share in his private placement. It also has a much smaller float than GGI. Both stocks had 186K and 130K shares purchased by insiders yesterday alone. Sprott is reportedly buying in the open market still. Be aware that I own both of these stocks so I’m a little biased, and also I’ve been a holder of MDMN for 8 years so maybe not that smart either. 
There must be a way to know when Sprott or other big names are buying into a company.
Yes, 2018 seems to be the year! The interview with Ian Telfer - Chairman, Goldcorp at the Mines and Money conference is interesting. The backdrop on the Kitco News is quite interesting also, and a real “eyecatcher”, but I think everyone here already knows Auryn Resources with projects in Canada and Peru is not the same AURYN most of us are awaiting to go public. It would be great if we could land “AURYN” as the ticker on the OTCQB when AURYN finally does go public, as that still seems to be available.
I found the link to Sprott’s Thoughts was much more informative than the video. Particularly, I found this part of Sprott’s article to be a great explanation of why mining has delays for those who post and read here - Thanks for posting the link:
If anyone has experienced the “efficiency” of processing paperwork with the Department of Motor Vehicles, then one has an idea of the time it can take to get a drill permit. Once the arduous process is complete and the permit is in-hand, the company is able to drill (subject to weather and the requisite liquor inventory, of course). The geologists then have to conduct an initial quick log, conduct core reconstruction and orientation (fitting it back together and working out core loss), photograph the core, saw the core in two, conduct detailed logging, sampling and bagging, before it is dispatched to the prep lab (possibly waiting until there is a worthwhile truck or helicopter load before dispatching). They then can wait up to a few months depending on the backlog of assays at the lab. And then, only then, they might receive word that a discovery has been made.
My point is this lengthy process requires patience from both the exploration geologists and the investors.
Set up a Google Search Alert in a g-mail account. Put in search terms for “Early Warning Report” and Sprott.
Or “Early Warning Report” and Evanachan for McEwen.
Thanks Rick.
Further to this, GGI just announced another private placement for 10 million dollars at a price of $3.15 a share. This presents an opportunity to pick up GGI for a price close to what someone (maybe Sprott again) is willing to commit 10 million at. This is also significant because the previous private placement which closed earlier this month was at a price per share of .92. So basically what has happened in the last month is they did a private placement at .92, then drilled 12 holes and reviewed the cores, now there is a private placement at 3.15. The first assays are due back later this month.
isn’t that illegal ? that’s insiders info before it goes public.
McEwen Mining Files Los Azules Preliminary Economic Assessment
13:27:35 10/17/2017
TORONTO, Oct 17, 2017 (GLOBE NEWSWIRE via COMTEX News Network) – McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) reports that it has filed the updated Preliminary Economic Assessment prepared in accordance with National Instrument 43-101 (“NI 43-101”) on the Los Azules Project (the “PEA”). The PEA supports the disclosure made in the news release on September 7, 2017 entitled “Copper Shines Brightly for McEwen Mining - Enhanced Economics of Los Azules.”
The PEA dated September 1, 2017 is entitled “NI 43-101 Technical Report - Preliminary Economic Assessment Update for the Los Azules Project, Argentina,” and was prepared by independent “Qualified Persons” (as that term is defined in NI 43-101) at Hatch Ltd.
The PEA is available for review on our website (McEwen Mining Inc. - Operations - Los Azules) and SEDAR (www.sedar.com).
Technical information contained in this news release has been prepared under the supervision of Mr. Donald Brown C. P. Eng., who is an officer of the Company, and a “Qualified Person” within the meaning of NI 43-101.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and information, including “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the “Company”) estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks related to fluctuations in mine production rates, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. The Company’s dividend policy will be reviewed periodically by the Board of Directors and is subject to change based on certain factors such as the capital needs of the Company and its future operating results. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and other filings with the Securities and Exchange Commission, under the caption “Risk Factors”, for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
CAUTIONARY NOTE REGARDING RESOURCE ESTIMATES
The mineral resource estimate for Los Azules was calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission for descriptions of mineral properties in SEC Industry Guide 7 under Regulation S-K of the U. S. Securities Act of 1933. In particular, under Guide 7 standards, mineral resources may not be classified as a “reserve” unless the determination has been made that mineralization could be economically and legally produced or extracted at the time the reserve determination is made.
The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining Inc.
Another one with great potential (IMO):
K92 Announces High Grade Kora Exploration Drill Results Including 3.4m at 9.94 g/t Au, 55 g/t Ag and 5.97% Cu
VANCOUVER, BRITISH COLUMBIA, Oct 17, 2017 (Marketwired via COMTEX) – VANCOUVER, BRITISH COLUMBIA–(Marketwired - Oct. 17, 2017) -
Results include:
3.4m at 9.94 g/t Au, 55 g/t Ag and 5.97% Cu (19.78 g/t AuEq), including 0.35m at 28.4 g/t Au, 157 g/t Ag and 12.8% Cu in drill hole KMDD0016
4.45m at 9.2 g/t Au, 7.71 g/t Ag and 0.51% Cu (10.18 g/t AuEq), including 1.15m at 32.47 g/t Au, 15.2 g/t Ag and 1.03% Cu in drill hole KMDD0015
K92 Mining Inc. (“K92”) is pleased to announce that the first four exploration holes drilled from an underground cuddy to follow up on the discovery of the northern extension of the Kora Vein have all intersected Kora mineralization, including high grades of copper, gold and silver (see Table 1.0).
These drill results over a strike length of approximately 100 metres confirm K92’s initial interpretation that the Kora Vein extends some 500 metres to the north from the closest point of the currently defined Kora Deposit Inferred Resource (see Table 3.0).
Drill intersections include 3.4m at 9.94 g/t Au, 55 g/t Ag and 5.97% Cu, including 0.35m at 28.4 g/t Au, 157 g/t Ag and 12.8% Cu in drill hole KMDD0016 and 4.45m at 9.2 g/t Au, 7.71 g/t Ag and 0.51% Cu, including 1.15m at 32.47 g/t Au, 15.2 g/t Ag and 1.03% Cu in drill hole KMDD0015.
Additional to these high grade drill results, K92 is also pleased to report high grade assay results from Kora face sampling.
Face sampling and mapping has at times recorded massive chalcopyrite, with the best intersection recorded to date being 0.5m @ 475.28 g/t Au, 161.1 g/t Ag and 7.25% Cu. A photograph showing some of the massive chalcopyrite recorded in the Kora development is provided below (sampling of this face averaged 4.1 metres at 8.86 g/t Au, 20.9 g/t Ag and 1.14% Cu).
Face sampling carried out to date on every new Kora face as part of a grade control process within this newly discovered extension area has returned an average grade of approximately 7 g/t Au, and 1% Cu.
John Lewins, K92 Chief Executive Officer and Director, states,
“The results from the first four diamond holes drilled from underground covering a strike length of some 100 metres have confirmed our interpretation that the Kora Vein system extends some 500 metres to the north of the existing inferred resource. Further, face sampling to-date has consistently recorded the presence of the vein system, with some extremely high grade zones of mineralization encountered. We are continuing to drill this northern extension, both along strike and up and down dip as well as developing along strike in both a southerly and northerly direction. These results, combined with the excellent results achieved from processing the first part of the bulk sample from Kora give us increasing confidence in the immediate potential of this northern extension.”
The previously reported Kora extension discovery hole KMDD0009 recorded an intersection of 5.4 metres at 11.68 g/t gold, 25.5 g/t silver and 1.33 per cent copper from 154 metres downhole, is also located within the 100 metre strike length referred above (see K92 news release dated May 24, 2017, for details including true thicknesses).
http://www.marketwatch.com/story/k92-announces-high-grade-kora-exploration-drill-results-including-34m-at-994-gt-au-55-gt-ag-and-597-cu-in-drill-hole-kmdd0016-2017-10-17
Quick update, GGI just closed the first tranche of this placement for 8 million dollars and as suspected, 5 million of that came from Eric Sprott. The buzz is starting to build around this nickel play. This is how I always envisioned MDMN playing out. Hopefully it still will.