Foran Mining (TSXV: FOM) is on track to complete a feasibility study before the end of the year on its flagship McIlvenna Bay volcanogenic massive sulphide deposit in Saskatchewan.
The deposit – situated on the western edge of the Flin Flon Greenstone Belt, 65 km west of Flin Flon, Manitoba – has been traced to a depth of 2 km and features zinc and copper mineralization along with silver, gold and lead.
The company released an updated resource estimate for McIlvenna Bay in May, outlining 22.95 million indicated tonnes grading 1.17% copper, 3.05% zinc, 0.44 gram gold per tonne and 16.68 grams silver per tonne for 1.5 billion lb. contained zinc and 593 million lb copper. Inferred resources measure 11.15 million tonnes grading 1.38% copper, 1.83% zinc, 0.47 gram gold and 14.81 grams silver for 450 million lb. zinc and 340 million lb. copper. It remains open at depth and to the northwest.
“We are in a pretty unique position these days,” Patrick Soares, the company’s president and CEO, tells The Northern Miner. “We have a great deposit in a supportive jurisdiction, with infrastructure nearby, and we can negotiate and take advantage of these facilities. … We have access to a mining town that has been a mining town for 100 years.”
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