McEwen Reports Mineral Resource Estimate for Tartan Mine Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 23 2026
0mins
McEwen is pleased to report its Mineral Resource Estimate for the Tartan Mine Project, located in Flin Flon, Manitoba. The Mineral Resource Estimate outlines 308,900 Indicated gold ounces and 302,700 Inferred gold ounces, with good potential to increase the size of the resource through additional drilling: 1) Immediately around the resource, along the Western and Eastern Flanks of the Main Zone 2) Vertically at the Main and South Zones, and 3) On the adjoining, optioned Tartan West property to the west, where good gold grades have been reported in recent surface samples and historic drill holes. The Tartan Mine Project forms part of the company's goal of doubling production to 250,000-300,000 gold ounces by 2030. McEwen expects initial annual production at Tartan to average approximately 30,000 gold ounces, with the potential to expand throughput through future permit modifications. The company believes that doubling the potential mill capacity from 500 tonnes per day to 1,000 tpd could see production grow to 45,000-55,000 ounces per year.
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Analyst Views on MUX
Wall Street analysts forecast MUX stock price to rise
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Strong Buy
Current: 21.890
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22.00
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Current: 21.890
Low
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Averages
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High
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About MUX
McEwen Inc. is a gold and silver mining production and exploration company. It is involved in a copper development project. Its operations sites include San Jose Mine, Fox Complex, Gold Bar mine, El Gallo Complex, Project Fenix, and Los Azules. The San Jose mine is in the northwest corner of the Deseado Massif region, over 20 kilometers north of Newmont's Cerro Negro mine. The Fox Complex is in the Timmins Gold Mining Camp in Northern Ontario, Canada. The Gold Bar Mine is in the southern Roberts Mountains of the Battle Mountain-Eureka-Cortez gold trend in Eureka County, Central Nevada. The El Gallo Complex is in Mexico’s Sinaloa State, along the foothills of the Sierra Madres Occidental mountain range. Fox West properties are in the heart of Timmins Gold Camp in northern Ontario, Canada. It holds an interest in Tartan Lake Gold Mine Project, which is in the province of Manitoba, Canada. It also holds Jewel Ridge and Jewel Ridge West projects and Lookout Mountain discoveries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Innovative Q&A Session: Following the meeting, a Bullpen Q&A moderated by Anthony Vaccaro will allow the leadership team to discuss operational performance, growth plans, and market outlook, fostering direct communication between shareholders and management.
- Voting Reminder for Shareholders: Shareholders of record as of April 20, 2026, are encouraged to vote their shares in advance, ensuring their voices are heard during the Annual Meeting, with voting instructions provided in proxy materials.
- Strategic Growth Prospects: McEwen's growth potential in gold and silver production, alongside its large copper development project, particularly the regenerative design of the Los Azules copper project, is expected to significantly contribute to future profitability and shareholder value.
See More
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- Drill Program Scale: Goliath Resources has initiated its 2026 drill program, which will encompass approximately 50,000 meters of systematic drilling aimed at expanding known mineralization at the Surebet discovery and testing the potential location of the Motherlode source, thereby laying the groundwork for future gold mining development.
- Expansion Potential: Drilling in the Bonanza and Golden Gate zones will extend to the East, Northeast, and Southwest, while the Surebet zone will expand to the West, with all mineralized lodes remaining open, indicating strong potential for new gold discoveries in the area.
- Significant Gold Discovery: To date, all drill holes at the Surebet discovery have successfully intersected gold mineralization, with 92% of holes containing visible gold (VG-NE), underscoring the remarkable continuity and richness of the mineralization system, which could represent one of the most significant gold discoveries in British Columbia in recent years.
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See More
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- Drilling Program Scale: Goliath Resources has initiated its 2026 drilling program, which will encompass approximately 50,000 meters of systematic drilling aimed at expanding known mineralization at the Surebet discovery and testing the potential location of the Motherlode source, thereby laying the groundwork for future gold mining development.
- Expansion Potential: The expansion drilling will focus on extending the Bonanza and Golden Gate Zones to the East, Northeast, and Southwest, while also expanding the Surebet Zone to the West, with all mineralized lodes remaining open, indicating significant resource potential.
- Continuity of Gold Discovery: To date, every drill hole at the Surebet discovery has successfully intersected gold mineralization, with visible gold found in 92% of the holes, underscoring the remarkable continuity and richness of the mineralization system, which could represent one of the most significant gold discoveries in British Columbia.
- Strategic Investment and Infrastructure: Goliath Resources controls 91,518 hectares of land at its Golddigger Property, located near infrastructure and tidewater access, providing excellent transportation conditions that are expected to attract further investment and drive future mining development.
See More
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- Market Adjustment: This rebalancing will take effect after the close of U.S. equity markets on June 26, signaling a reassessment of materials stocks that may influence investors' asset allocation strategies.
- Companies Removed: American Vanguard, Ascent Industries, and Solesence will be removed from the Russell 3000 Index, which could pressure their stock prices and diminish their appeal among investors.
- Expected Market Reaction: With the addition of new stocks and the removal of others, market volatility may ensue, prompting investors to monitor how these changes affect overall market sentiment and individual stock performance.
See More
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- Improved Financial Position: As of March 31, 2026, McEwen held $56.5 million in cash and cash equivalents, $13.5 million in marketable securities, and $457 million in investments, reflecting a continued improvement in the company's financial health, providing funding security for future expansions.
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See More
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- Innovative Metal Recovery: Phase II metallurgical tests showed gold recovery rates up to 99% after antimony extraction, with antimony extraction rates ranging from 54% to 92%, demonstrating the efficiency and economic viability of its process to recover both metals simultaneously.
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See More
