McEwen Mining Identifies New Gold Zone at El Gallo

McEwen Mining Inc. (NYSE:MUX, TSX:MUX) announced they they have discovered a new gold zone at their El Gallo 1 Mine in Sinaloa, Mexico.

As quoted in the press release:

Drilling has returned encouraging grades and widths between two planned open pits and has opened up a large area for additional exploration. These results have the potential to both increase the size of the gold resource and extend the mine life. In addition, two holes encountered some of the deepest mineralization to date at El Gallo 1, demonstrating the potential for higher-grade underground mining. The Central Zone is open laterally (along strike) and at depth.

McEwen’s Chief Owner, Rob McEwen, said:

 Today, we have more good news. At El Gallo 1 drilling has extended the mineralization to connect two planned open pits with the result of potentially increasing the gold resource and life of the mine. An update resource estimate of our El Gallo Complex will be released in Q2 of this year.

To view the whole press release, click here.