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Foran Mining Corp. completes McIlvenna Bay drill programme

Published by
Global Mining Review,


Foran Mining Corp. has announced that its infill drill programme at its 100% owned McIlvenna Bay deposit is now complete, with results from four holes contained in this release. The remaining results from the now concluded programme will be disseminated over the coming weeks as they are received.

Two of the holes contained within this release were located along the upper plunge line of the deposit while the other two were targeting the central part of the deposit. All holes intersected wide zones of continuous mineralisation, consistent with previous results from the 2021 programme. The widths and grades encountered throughout this programme continue to bode well for future resource upgrades.

The upper holes intersected the Copper Stockwork Zone (CSZ), above the edge of the massive sulfide (MS) lens, and both returned wide intercepts of copper mineralisation (28.1 m and 14.3 m); with one of the holes intersecting significant mineralisation at the edge of the resource outline from the 2019 estimate. This supports the potential to grow the CSZ both up-dip and along plunge and is expected to result in resource expansion when the updated resource estimate is completed to underpin the feasibility study scheduled for release in 4Q21.

Two holes were also drilled into the central part of the deposit, where they intersected wide zones of continuous mineralisation in both the MS and the underlying CSZ, supporting the potential to convert additional inferred resources to indicated and therefore increase the projected mine life of the deposit.

Highlights

  • MB-21-242: intersected 21.7 m of continuous mineralisation:
    • 1.27% copper (Cu), 2.9% zinc (Zn), 22.2 g/t silver (Ag) and 0.38 g/t gold (Au) over 2.3 m (MS).
    • 1.02% Cu, 0.71% Zn, 9.5 g/t Ag and 0.32 g/t Au over 19.3 m (CSZ).
  • MB-21-243: intersected 13.6 m of continuous mineralisation grading 2.5% CuEq (including 1.9 m at 7.07% CuEq), with highlights including:
    • 1.13% Cu, 12.81% Zn, 36 g/t Ag and 0.8 g/t Au over 1.9 m (MS).
    • 1.05% Cu, 1.35% Zn, 12.1 g/t Ag and 0.52 g/t Au over 8.2 m (CSZ).
  • MB-21-244a: included a significant mineralised intercept (14.3 m at 1.59% CuEq) at the edge of the 2019 resource outline:
    • 1.27% Cu, 0.44% Zn, 8.59 g/t Ag and 0.13 g/t Au over 14.3 m.
  • MB-21-245: intersected 28.1 m grading 1.71% CuEq from the CSZ.
    • 1.38% Cu, 0.43% Zn, 9.1 g/t Ag and 0.15 g/t Au over 28.1 m.

Dan Myerson, Executive Chair of Foran, commented: “We are very pleased with the results from our recently concluded infill campaign, with the reported results to-date suggesting we will be able to upgrade a considerable portion of existing inferred material for the upcoming revised resource estimate, which should bode well for mine life extension with the release of our feasibility study in 4Q21. We have recently turned our focus to a ~25 000 m near-mine expansionary and helicopter-supported brownfields/greenfields regional exploration programme. We look forward to sharing results from this exciting exploration programme as we continue to expand the richness of our multi-generational and multi-deposit camp, located in one of the world’s safest and most desirable mining jurisdictions, Saskatchewan, Canada.”

Read the article online at: https://www.globalminingreview.com/exploration-development/30072021/foran-mining-corp-completes-mcilvenna-bay-drill-programme/

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