McEwen Inc. Announces Significant Drill Results at Tartan Mine Project
TORONTO, Jan. 13, 2026 (GLOBE NEWSWIRE) -- McEwen Inc. (NYSE/TSX: MUX) has unveiled promising final drill results that will be included in the imminent Mineral Resource Estimate for the Tartan Mine Project, located near Flin Flon, Manitoba. The Company recently finalized the acquisition of Tartan through the purchase of Canadian Gold Corp. on January 5, 2026. The updated resource estimate is anticipated to be released by the end of February and aims to inform strategic plans as McEwen targets a goal of doubling its production by 2030.
Key Drill Results and Implications
The recent drill results indicate an intercept of 7.5 grams per tonne (gpt) gold over 18.9 metres, significantly enhancing the gold mineralization along the Western Flank. This new data surpasses previous results reported by Canadian Gold Corp., which included an intercept of 12.3 gpt gold over 14.0 metres. Furthermore, the expanding Main Zone is showing excellent potential for further resource growth.
- New intercept: 7.5 gpt gold over 18.9 metres
- Previous result: 12.3 gpt gold over 14.0 metres
- Additional drill hits: 6.6 gpt gold over 7.0 metres and 4.9 gpt gold over 7.9 metres
Ongoing drilling at Tartan is primarily focused on increasing the number of ounces per vertical metre, which is essential for higher annual gold production in a potential mine restart. The success observed along the Western Flank indicates the strike length of the Main Zone has extended from 100 metres near surface to approximately 150 metres at depth.
Exploration Initiatives and Future Targets
McEwen has allocated a budget of $3 million for exploration at the Tartan Project throughout 2026, with potential increases depending on the results from the first quarter. Key exploration opportunities include:
- Eastern Flank of the Main Zone
- Depth within the Main Zone
- South Zone (parallel to the Main Zone)
- Regionally along the Tartan Lake Shear Zone
Since drilling was resumed by Canadian Gold in 2023, approximately 90% of the drill holes, or 35 of 39, have intersected potentially economic mineralization at the Main Zone, highlighting the project's robust prospects.
Tartan Mine Background and Historical Context
The Tartan Mine, located about 12 km northeast of Flin Flon, Manitoba, is part of the Flin Flon Greenstone Belt, a well-known mineral-rich region. Initial exploration activities date back to the 1920s, and the mine began producing gold in 1987, with a capacity of 250 tonnes per day, later expanded to 500 tonnes per day. To date, the mine has yielded approximately 47,000 ounces of gold but ceased operations due to declining prices and technical challenges.
Significance for Shareholders and Corporate Strategy
The Tartan Project represents a rare high-grade gold opportunity in Canada, particularly due to the limited exploration carried out between 1989 and 2023. McEwen believes that the new drilling results will be essential for the Company’s growth trajectory as it strives to double production by 2030. The Company plans to leverage the existing infrastructure and the high-grade mineralization at Tartan to develop a cost-effective and sustainable operational model.
About McEwen Inc. (MUX)
McEwen Inc. trades on the NYSE and TSX under the ticker symbol MUX. It provides shareholders with exposure to a growing portfolio of gold and silver production, complemented by a significant copper development project in the Americas. The locations of its gold and silver operations include notable regions like the Cortez Trend in Nevada, the Timmins district in Ontario, and others in Argentina and Mexico.
Conclusion
As McEwen Inc. advances its exploration and development efforts at the Tartan Project, stakeholders are encouraged to monitor the anticipated Mineral Resource Estimate and subsequent developments, which are expected to drive significant shareholder value and operational growth in the coming years.