- McEwen Copper’s Los Azules Project is a large porphyry copper-gold-silver deposit with considerable growth potential, with ultimate depth and lateral extents that remain to be determined
- McEwen Copper, subsidiary of McEwen Mining, is expected to be game-changing, possibly becoming the world’s next copper unicorn
- The copper mining market was valued at $75 billion in 2021 and is expected to reach $80 billion by 2029
McEwen Mining (NYSE: MUX) (TSX: MUX), an asset-rich diversified gold and silver producer in the Americas, with large exposure to copper through its 68-percent-owned subsidiary McEwen Copper, has reported rich copper values over attractive widths, resulting from infill drilling at its Los Azules project. Located in San Juan, Argentina, Los Azules is a large porphyry copper-gold-silver deposit expressing great potential, with ultimate depth and lateral extents yet to be fully determined.
The report cites widespread mineralized magmatic-hydrothermal breccias with intercepts such as 237.2 meters (m) of 1.05% copper (Cu), including 108 m of 1.71% Cu in hole AZ22173. Northern exploration hole AZ22174 targeting a deep geophysical anomaly intersected multiple copper-mineralized horizons, including disseminated and veinlet-hosted primary copper mineralization and potassic alteration as deep as 1,100 m downhole, with assays pending. The report also showed the continuity of an Enriched mineral zone up to 300 m, true thickness (https://ibn.fm/9Qt3G).
McEwen Copper resumed its drilling program in October 2022. It is designed to increase drill hole density and upgrade the copper resource classification to better understand the payback pit design. Also, the program will provide metallurgical, hydrological, and geotechnical data to facilitate mine design and to determine how much larger the deposit could be.
“We entered 2023 with tremendous momentum, with nine drills operating, an active community engagement program, and a technical team advancing Los Azules towards feasibility,” said Michael Meding, Vice President and General Manager of McEwen Copper. “We are delivering a first-class technical evaluation on a copper deposit that will put Argentina at the forefront of critical metals production, supporting worldwide electrification and a greener future for generations to come.”
The copper mining market was valued at $75 billion in 2021 and is forecast to grow $80 billion by 2029. The increase in development and construction initiatives in emerging and developing economies is expected to drive the global copper mining market.
Most mined copper is currently used in infrastructure and new critical demand emerging for use in the electrification of transportation and the global energy transformation. (https://ibn.fm/qB7ZP). McEwen Copper is expected to be a game changer, potentially becoming the world’s next copper unicorn, and thus turbocharging McEwen Mining’s share value.
McEwen Mining’s management team has extensive knowledge and expertise in the industry, owning and operating mines in some of the most prolific gold-producing regions in the Americas. In recent months, McEwen Mining has been successful lowering production costs and increasing production across its gold assets, driving some costs below industry averages. Gold, silver and copper prices are forecasted to enter major uptrends over the next couple of years. Beyond McEwen Copper, McEwen Mining also has important gold and silver projects: The Fox Complex, The Gold Bar Mine, San Jose Mine, and Project Fenix.
For more information, visit the company’s website at www.McEwenMining.com.
NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at http://ibn.fm/MUX
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