Canadian company McEwen Mining, developing the Los Azules project through its subsidiary McEwen Copper, in the province of San Juan, reported that twenty drilling rigs are on-site, with over 36,000 meters of drilling completed to date as part of the season. The goal is to advance in all areas contributing to the upcoming Feasibility Study (FS), expected to be published in the first quarter of 2025.
By Panorama Minero
The company has announced significant progress in the project, one of the top five in magnitude in San Juan province: "Our drilling program is over halfway complete, with 36,000 meters drilled out of the planned 55,000 for our Feasibility Study." The work necessary for the completion of said study includes mineral resource estimation, metallurgical testing, equipment selection, finalization and cost estimation of the mine's design, and facility assembly. "Additionally, we will work to advance our energy and road infrastructure plans and establish a preliminary water balance across the site, including mine dewatering," they added.
"On the ground, we've achieved tangible progress with the drilling program: the construction of our winter camp and improvements to the exploration road facilitating year-round operations. We're also in the planning stages of environmental permits, reflecting our commitment to responsible development," the company stated in a release.
In addition, they announced they "have been diligent in protecting capital" as the majority of funds have been invested in deposit receipts of foreign and major Argentinean corporations to shield against devaluation. "This strategic move ensures that the financial backbone of the Los Azules project remains strong to support our development over the coming years."
"We are adapting to a changing environment in Argentina, recognizing the importance of current political and economic reforms for the stability and future growth of the nation. Mining is a vital component of Argentina's economy and, under the right conditions, is poised to grow significantly and support the country's economic recovery," concluded Michael Meding, Vice President of McEwen Copper and General Manager of the Los Azules Project.
