Why MUX buried the drill read out data in news release about financings is certainly a puzzle to me. That MUX sees production of 100,000 OZ au for 10 years is greatly encouraging to me. The read outs certainly suggest that level of production is attainable
These funds will be used for exploration to facilitate the rapid expansion of our discoveries at Stock and Grey Fox, which are key elements in our plans for growing the Fox Complex annual gold production to 100,000-150,000 oz over a 10-year mine life.
The Stock West discovery is a broad system of green carbonate-hosted gold mineralization, with limits that remain unconstrained. Our drilling at Stock has three objectives: 1. Expand the known mineralization down plunge along strike, 2. Test for a connection between Stock West and the Stock mine, and 3. Support starting to dewater and re-access the Stock Mine in H2 2021.
The deepest intersection at Stock West is 7.7 g/t Au over 25 m, at a depth of 550 m (Dec. 11, 2019 press release, hole #106). The deepest intersection under the former Stock Mine, at a depth of 950 m, encountered similar alteration and mineralization with visible gold and had an assay value of 18.0 g/t Au over 9.1 m (Sep. 4, 2019 press release, hole #95). The projected down plunge distance between these two drill results is 500 m.
In addition, testing to expand the Grey Fox resources is continuing. Drilling will focus on the Gibson, Whiskey Jack, and South zones. Intersections at Whiskey Jack have confirmed highgrade gold mineralization over significant true widths, including 53 g/t Au over 6.7 m. (Feb. 5, 2020 press release, hole 19GF-1293). This intersection offers good potential for the discovery of a new high-grade deposit, that could contribute to the growth of our existing resources at Grey Fox. The Indicated category resources at Grey Fox are currently 888,000 gold ounces at an average grade of 7.1 g/t (May 19, 2020 press release).”