McEwen Mining (NYSE/TSX: $MUX) continues to build momentum in Ontario’s Timmins Camp, where drilling at the Fox Complex’s Grey Fox Project is returning high-grade intercepts with continuity across key zones.
Recent assays from the Gibson Expansion Zone include 10.1 g/t Au over 5.8 m (hole 25GF-1597) and 10.4 g/t Au over 5.6 m (25GF-1564), while drilling at Grey Fox South confirmed broader mineable widths, including 4.8 g/t Au over 14.9 m. These results bolster expectations of a near-term resource growth, with an updated estimate scheduled for October 2025.
Grey Fox currently hosts 1.54 Moz gold indicated at 3.64 g/t Au and 0.46 Moz inferred at 3.30 g/t Au, and the new results suggest further expansion potential. Geological parallels with Canadian Malartic — one of Canada’s largest open-pit gold mines — reinforce the strategic scale of this asset.
CEO Rob McEwen emphasized that Grey Fox is a cornerstone for long-term growth, complementing underground development at Stock Mine and Froome West, while Nevada projects add optionality. The company’s stated goal: surpass 200,000 ounces annual production and reduce costs by 2026, capitalizing on strong gold prices.
From a market perspective, the timing is favorable. Gold has remained resilient in 2025 amid geopolitical stress and slowing mine supply growth globally. Timmins, already a prolific district, offers infrastructure advantages and investor familiarity, while McEwen’s $205M insider ownership adds alignment rarely seen at this scale.
Takeaway: With Grey Fox results pointing to resource growth and a major update due in October, McEwen Mining is positioning itself as a credible mid-tier gold player in Ontario’s most competitive camp, while maintaining optionality through Nevada and Argentina.
In parallel, juniors like Power Metallic (TSXV: PNPN / OTCQB: PNPNF) are also making headlines in Québec with recent high-grade copper and gold intercepts at the Lion Zone and an expanded land package exceeding 212 km². The appointment of former Canadian Minister Seamus O’Regan to the board further signals the strategic weight being placed on advancing the Nisk-Lion polymetallic belt.
Together, these developments highlight how both established producers and emerging explorers are sharpening their positions in Canada’s critical minerals landscape..
