McEwen Mining Inc. (MUX, MUX.TO), which fell 3.5% Thursday, announced that a new gold zone is emerging at its El Gallo 1 Mine in Sinaloa, Mexico. Nine core holes were drilled in a new area called “Central”. Drilling has returned encouraging grades and widths between two planned open pits and has opened up a large area for additional exploration. These results have the potential to both increase the size of the gold resource and extend the mine life. In addition, two holes encountered some of the deepest mineralization to date at El Gallo 1, demonstrating the potential for higher-grade underground mining. The Central Zone is open laterally (along strike) and at depth.