McEwen Mining invests $30 million in Timmins-area exploration – by Staff (Northern Ontario Business – June 18, 2024)

Toronto gold company funds next mine in its stable of gold properties

McEwen Mining has raised $30 million to fund exploration and development of the next mine in the project pipeline at its Fox Complex, east of Timmins.

The Toronto gold company closed financing last week through a flow-through share offering, which will be earmarked for exploration drilling and construction of an underground access ramp from the surface to reach gold at its Stock East and West properties.

These properties are some of the company’s biggest assets and are scheduled to be the next sources of gold production, coming online in the next couple of years.

Located roughly halfway between Timmins and Matheson, the Fox Complex is a series of gold properties and deposits, extending along Highway 101, that’s being explored and mined in a sequence.

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