Curated News
By: NewsRamp Editorial Staff
January 20, 2026
McEwen Reports 23% Gold Resource Jump at Grey Fox, Eyes Production Doubling
TLDR
- McEwen's Grey Fox Project resource increase to 1.9M gold ounces offers investors a strategic advantage in the gold market ahead of its 2030 production doubling goal.
- McEwen's updated mineral resource estimate incorporates underground and open-pit scenarios using a $3,000 gold price, with a pre-feasibility study scheduled for Q2 2026.
- McEwen's Grey Fox Project contributes to sustainable mining by supporting long-life operations and aligns with their regenerative copper mine goal for carbon neutrality by 2038.
- McEwen's Chairman Rob McEwen invests over $200M personally and takes a $1 salary, aligning with shareholders while building the company's value and future dividends.
Impact - Why it Matters
This resource update represents a substantial step toward McEwen's goal of doubling production by 2030, potentially enhancing shareholder value through increased mine life and operational scale. For investors, the 23% increase in indicated resources at Grey Fox, combined with the company's diversified portfolio including the advanced Los Azules copper project, suggests strengthened long-term growth prospects in a sector where resource expansion directly correlates with enterprise value. The timing is particularly relevant as gold prices remain elevated above $3,000 per ounce, making these additional ounces economically attractive. Furthermore, the company's commitment to regenerative mining at Los Azules aligns with growing ESG investment trends, potentially broadening its investor base. Chairman Rob McEwen's significant personal investment and symbolic $1 salary demonstrate strong alignment with shareholder interests, while the pre-feasibility study scheduled for 2026 provides a near-term catalyst for further valuation assessment.
Summary
McEwen Inc. (NYSE: MUX, TSX: MUX) has announced a significant 23% increase in indicated gold resources at its Grey Fox Project within the Fox Complex in Timmins, Ontario, reporting 1.9 million indicated ounces and 436,000 inferred ounces in its year-end 2025 mineral resource estimate. This update, calculated at a $3,000 per ounce gold price, incorporates both underground and open-pit mining scenarios ahead of a pre-feasibility study scheduled for Q2 2026. The company highlights potential for further growth through the recently acquired Stroud Property, new drill results received after the resource cutoff date, and ongoing mine and plant optimization. McEwen stated that Grey Fox is expected to play a key role in its objective of doubling production by 2030 as the Fox Complex transitions into a long-life mining operation.
The company, which provides shareholders with exposure to gold, silver, and copper projects across the Americas, also has a 46.4% interest in McEwen Copper, owner of the large Los Azules copper development project in Argentina. According to a press release dated October 7, 2025, Los Azules is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Chairman and Chief Owner Rob McEwen, who has invested over $200 million personally and takes a $1 annual salary, aims to build the company's profitability and share value with eventual dividend implementation, mirroring his success with Goldcorp Inc.
This news was disseminated through MiningNewsWire, a specialized communications platform within the Dynamic Brand Portfolio of IBN that provides comprehensive distribution services including access to wire solutions, article syndication to 5,000+ outlets, enhanced press release features, and social media distribution. For investors seeking the latest updates, the company maintains a newsroom at https://ibn.fm/MUX, and the full press release can be viewed at https://ibn.fm/Bc8Na. MiningNewsWire serves as a convergence point for breaking news, insightful content, and actionable information in the global mining sector, helping companies reach wide audiences through its seasoned team and broad distribution network.
Source Statement
This curated news summary relied on content disributed by InvestorBrandNetwork (IBN). Read the original source here, McEwen Reports 23% Gold Resource Jump at Grey Fox, Eyes Production Doubling
