McEwen’s Black Fox fourth-quarter mine production exceeds expectations
NYSE- and TSX-listed gold and silver producer McEwen Mining has reported consolidated gold production for the 2020 full year of 92 100 oz and 2.02-million ounces of silver, or 115 600 gold-equivalent ounces at a gold:silver ratio of 86:1.
Consolidated production for the fourth quarter of 2020 was 24 100 gold ounces and 532 400 silver ounces, or 31 100 gold-equivalent ounces at an average gold:silver ratio of 77:1.
For the fourth quarter, McEwen’s attributable production from its San José mine, in Argentina, was 531 500 silver ounces and 8 700 gold ounces, or 15 600 gold-equivalent ounces, which was in line with the miner’s expectations.
McEwen’s Black Fox mine in Canada produced 8 000 gold-equivalent ounces, exceeding the miner’s expectations.
The miner’s Mexico-based El Gallo mine produced 1 500 gold-equivalent ounces from residual leaching.
Meanwhile, McEwen also reports that work on the Fox Complex preliminary economic assessment (PEA) is ongoing. The addition of several other key properties has expanded the scope of the PEA and, as a result, it is now expected to be completed in the second quarter of the year.
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