Third Quarter 2013 Production Results
Toronto, Oct 16, 2013 AEST (ABN Newswire) - McEwen Mining Inc. (
NYSE:MUX) (TSE:MUX) is pleased to announce production results for the third quarter of 2013. During the third quarter, 36,495 gold eq. oz(1)(2) (20,483 gold oz and 832,594 silver oz) were produced.
This is 47% higher than the same period in 2012 and 2% higher than Q2, 2013. In the past 9 months ended September 30, 2013, McEwen Mining has produced 102,288 gold eq oz, and is on track to meet forecasted annual production of 130,000 gold eq oz. Production costs will be reported in November 2013 with Q3 financials.
"Both of our mines had another solid quarter of production. We remain on track to produce a total of 130,000 gold equivalent ounces in 2013", stated Rob McEwen, Chief Owner.
1. Gold eq oz = Gold equivalent ounces
2. Gold equivalent ounces are calculated at a ratio of 52:1.
San José Mine Operating Results
----------------------------------------------------------------San José - 100%* YTD 2013 3Q13 2Q13 3Q12----------------------------------------------------------------Ore production (tonnes) 380,787 131,592 140,816 136,577Average grade gold (gpt) 6.57 6.59 6.34 5.24Average head silver (gpt) 435 446 407 402Average gold recovery (%) 89.8 91.9 89.3 91.1Average silver recovery (%) 86.6 89.5 85.5 87.9Gold produced (ounces) 72,298 25,610 25,610 20,967Silver produced (ounces) 4,615,526 1,689,237 1,575,442 1,552,358Gold equivalent Oz produced 161,058 58,095 55,907 50,820 ---------------------------------------------------------------- McEwen Mining - 49% Share----------------------------------------------------------------Gold produced (ounces) 35,426 12,549 12,549 10,274Silver produced (ounces) 2,261,608 827,726 771,967 760,655Gold equivalent Oz produced 78,918 28,467 27,394 24,902
* McEwen Mining holds a 49% attributable interest in the San José mine.
El Gallo 1 Mine Operating Results in 2013
--------------------------------------------------------- YTD 2013 3Q13 2Q13Ore production (tonnes) 927,281 285,212 346,896Average grade gold (gpt) 1.26 1.30 1.34Gold produced (ounces) 23,046 7,934 8,439Silver produced (ounces) 16,849 4,868 6,341Gold equivalent Oz produced 23,370 8,028 8,561---------------------------------------------------------
About McEwen Mining Inc
McEwen Mining (NYSE:MUX) (TSE:MUX) is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. McEwen Mining also holds a 48.3% interest in McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The Company's goal is to improve the productivity and life of its assets with the objective of increasing the share price and providing a yield. Rob McEwen, Chairman and Chief Owner, has a personal investment in the Company of US$225 million.
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