Foran intersects high-grade mineralisation at Bigstone

Highlights

• Hole BS-21-245 returned 9.5 m of 14.0% zinc (Zn), 0.42% copper (Cu), 76.9 g/t silver (Ag) and 0.37 g/t gold (Au), including 0.9 m of 57.2% Zn, 0.28% Cu, 24.9 g/t Ag and 0.06 g/t Au.
• High-grade results from hole BS-21-245 compare favourably to the existing indicated resource grade of the massive sulfide zone at Bigstone of 9.9% Zn, 0.25% Cu, 16.5 g/t Ag and 0.33 g/t Au.
• Precious metal anomalies were also intercepted in several holes at Bigstone, including 0.5 m of 63 g/t Ag, 5.49 g/t Au in hole BS-21-246 and 0.5 m of 454 g/t Ag and 2.06 g/t Au in hole BS-21-247. Hole BS-21-246 also hit 3.1% Cu within the same intercept.
• Preliminary intercepts continue to strengthen Foran’s confidence in both the Bigstone deposit and the entire region where we will be testing additional targets in 2022.

Dan Myerson, Foran’s Executive Chairman and CEO, commented: “High-grade intercepts like these are rare and very exciting, and in the case of Foran, further emphasise the expansion opportunities at our already established camp, and showcase what Hanson Lake District has to offer. These are the first results at Bigstone since our initial and limited drilling campaign in 2015, and these intercepts from our 2021 programme outline the ongoing opportunity to discover additional mineralisation and potentially establish Bigstone as a high-grade deposit that could feed our future centralised milling facility at McIlvenna Bay.

“We are especially positively surprised by the high-grade zinc intercepts as well as encouraged by the continuation of significant copper values which continue to illustrate the robust nature of the Bigstone deposit, where we believe we are currently just scratching the surface of the potential of the entire Bigstone area. It is also very promising to encounter recurring gold and silver anomalies that could potentially lead to higher precious metal content within the deposit and could be discovered at other targets. Bigstone and the surrounding area have the potential to become a key contributor in our goal to develop the district into Canada’s next mining camp, and we expect to share results from our near-mine exploration programme as we test new prospective targets in 2022.”

2021 Bigstone drill programme

Foran’s 2021 Bigstone exploration drill programme consisted of 14 holes in 5716 m, completed between August and October 2021. The programme targeted resource growth by step-out drilling to potentially expand individual resource zones up/down-dip and along strike to the north and south, and infill drilling in certain areas to upgrade current inferred resources to indicated categories. These are the first drill holes since the company’s 2015 drill programme, which uncovered one of the longest intersections ever recorded in the region, at 105 m of 2.2% copper equivalent (CuEq).

Hole BS-21-245 was drilled on section 15+75N, near the southern-end of the deposit, targeting an inferred portion of deposit at depth and the potential expansion of a lower zone of mineralisation to the south. The hole successfully intersected the massive sulphide horizon, where it could expand the indicated resources in that area. The hole also intersected an underlying zone of copper-rich mineralisation, which should grow the resource in this sector of the deposit.

Hole BS-21-246 was drilled on the same section as BS-21-245 where it successfully intersected the deposit approximately 50 m further up-dip. BS-21-246 intersected the massive sulfide horizon and a similar underlying high grade copper zone as encountered in BS-21-245. BS-21-246 also intersected a narrow gold-rich horizon in the hanging wall above the massive sulfide that had previously been unrecognised in the historic drilling. Assays below 297.7 m are pending from the lab.

Hole BS-21-247 was drilled on section 16+25N where it targeted the lower zone in a 150 m gap between historic holes. BS-21-247 successfully intersected the massive suldide horizon and the underlying copper zone seen in BS-21-245 and 246, as well as, the targeted lower zone containing high-grade zinc. This intersection should allow the mineralised intervals for this zone in the historic drill holes to be connected. BS-21-247 also interested a new gold-rich zone in the hanging wall above the massive sulfide which may correlate with the gold intersection in the same area in BS-21-245.

Read the article online at: https://www.globalminingreview.com/exploration-development/24012022/foran-intersects-high-grade-mineralisation-at-bigstone/