McEwen Inc. (NYSE/TSX:MUX) ("McEwen" or the "Company") is pleased to report its Mineral Resource Estimate for the Tartan Mine Project, located in Flin Flon, Manitoba. The Mineral Resource Estimate outlines 308,900 Indicated gold ounces and 302,700 Inferred gold ounces (calculated using a gold price of US$3,000 per ounce), with good potential to increase the size of the resource through additional drilling: 1) Immediately around the resource, along the Western and Eastern Flanks of the Main Zone 2) Vertically at the Main and South Zones, and 3) On the adjoining, optioned Tartan West property to the west, where good gold grades have been reported in recent surface samples and historic drill holes (Fig. 1, 2 & 3).
The Tartan Mine Project forms part of the Company's goal of doubling production to 250,000-300,000 gold ounces by 2030. McEwen expects initial annual production at Tartan to average approximately 30,000 gold ounces, with the potential to expand throughput through future permit modifications. The Company believes that doubling the potential mill capacity from 500 tonnes per day (tpd) to 1,000 tpd could see production grow to 45,000 - 55,000 ounces per year.
Highlights of the Tartan Mine Project Resource & Future Developments
- Indicated Resources 308,900 gold ounces (2,619,000 tonnes @ 3.67 gpt gold)
- Inferred Resources 302,700 gold ounces (2,832,900 tonnes @ 3.32 gpt gold)
- Exploration budget of $6 million in 2026 to expand the resource and test near mine/regional drill targets
- Metallurgical test work is underway to optimize process plant design, along with underground mine planning
- Reviewing existing environmental licenses to operate within the current 500 tpd authorization.