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TNR Gold has announced that McEwen Mining has completed its feasibility drilling program at the Los Azules copper, gold, and silver project in Argentina. TNR Gold holds a 0.4% net smelter return (NSR) royalty on the project.
The program included 70,000 meters of drilling, with significant results such as 349m of 0.77% Cu and 382.5m of 0.54% Cu. The main objectives were to confirm the deposit size and grade, test for extensions, and explore new mineralized areas.
Initial interpretations indicate an increase in Measured and Indicated resources. The drilling also found mineralization beyond the current pit boundaries. A new porphyry system, 3 km east of the Los Azules deposit, shows promising early results.
The feasibility study will be completed by early 2025, with the focus on converting initial 5-year mineable resources to Measured and Indicated categories. Comprehensive exploration and geotechnical work are also ongoing.