Foran Mining (TSX: FOM; OTCQX: FMCXF) commenced its largest drill program to date at the Tesla zone, part of its McIlvenna Bay project in east-central Saskatchewan. Drill teams will be working on encompassing over 30,000 metres of drilling utilizing eight drills during the winter months. Company workers began drilling on January 2, 2025, and will likely run until the end of March / early April, depending on ice conditions.
The McIlvenna Bay deposit is a copper-zinc-gold-silver rich VHMS deposit intended to be the centre of a new mining camp. The property sits 65 km west of Flin Flon, Manitoba.
The company will work on confirming the continuity of Tesla mineralization. It is also tightening up the drill hole spacing across central parts of the zone. Foran is working on completing this work as part of its inaugural resource estimate for Tesla.
Erin Carswell, Foran's Vice President, Exploration, commented: "We are thrilled to continue our drilling at Tesla with an unprecedented scale, deploying eight drills to undertake 30,000 metres of exploration. This marks a pivotal step in further exploring the robust and continuous nature of Tesla's mineralization while also expanding the Bridge zone as we progress toward a future resource estimate."
To date, Foran's drilling has defined multiple lenses of copper and/or zinc rich mineralization over a strike length of at least 1,200 metres and 500-700 metres in the down dip direction.
The McIlvenna Bay deposit is the largest undeveloped VHMS deposit in the region. The company announced the results from its NI 43-101 compliant technical report on the 2022 feasibility study for the McIlvenna Bay deposit on February 28, 2022, outlining current mineral reserves would potentially support an 18-year mine life producing an average of 65 million pounds of copper equivalent annually.
More information about the company and/or the deposit is posted on www.ForanMining.com.
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