SASKATCHEWAN – Mineral resources are growing at the McIlvenna Bay copper-zinc deposit at Hanson Lake, 60 km west of Flin Flon, MB. Owner Foran Mining Corp. of Vancouver says the indicated tonnage is up 15% and the inferred category up 18%.
The deposit contains an estimated 13.9 million indicated tonnes grading 1.96% CuEq and 11.3 million inferred tonnes grading 2.01% CuEq at a net smelter return cut-off of US$60/tonne. Using a NSR return cut-off of US$45/tonne, the indicated resource rises to 16.3 million tonnes at 1.82% CuEq and the inferred resource to 13.1 million tonnes at 1.87% CuEq.
Foran has traced the McIlvenna Bay deposit over a down plunge of approximately 2 km starting at a depth of 35 metres below surface. It remains open. The average combined horizontal thickness of the mineralization in the main massive sulphide lens and adjacent copper stockwork zone is 18 to 20 metres. The company has also identified a thicker and higher grade copper stockwork zone adjacent to the higher grade upper west zone along the up-dip portion of the deposit.
For a thorough discussion of the deposit and resources by zones, see the news release dated March 27, 2013, and posted at ForanMining.com.