MUX:CC - McEwen Mining jumps on new assay results from Los Azules copper project

2023-07-13 12:27:14 ET

McEwen Mining ( NYSE: MUX ) +4.7% in Thursday's trading and up as much as 17% in the first two days after its majority-owned copper business reported additional copper values over wide intercepts resulting from drilling performed on its Los Azules project in Argentina.

McEwen ( MUX ) said recent infill and other resource drilling confirmed "very good alignment of new assay results to the resource model prediction for the same area, [and] copper grade continuity modeled in the core of the deposit is well-supported by core logging and new assay results."

The company said its latest drilling program, which began in October, was concluded with up to 15 rigs completed 39,900 m of drilling in 138 holes, and preparations are underway for the next phase of drilling, expected to begin in October.

More on McEwen Mining:

• Financial and valuation comparison to sector peers
• Analysis: McEwen Mining: An Inferior Way To Buy The Dip
• Stock price return: Up 31% YTD, up 118% in the past 12 months

For further details see: