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Foran Mining Corp.
Summary
| Project: | McIlvenna Bay | |
|---|---|---|
| Deposit: | McIlvenna Bay | |
| Location: | Canada | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 5/28/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 28-5-2019: Foran Mining Corp. announces a Resource Estimation report for its McIlvenna Bay deposit at the McIlvenna Bay project. Updated mineral resource estimate at the project. Patrick Soares, President and CEO of Foran commented: “In the past 18 months | |
| Resources: | ||
| CP/QP: | [Resources]: William Lewis (Micon International Ltd.) | |
| ABSTRACT: | Patrick Soares, President and CEO of Foran commented: “In the past 18 months, Foran shareholders entrusted our management team with over C$14 million of new funds to unlock the value of the McIlvenna Bay Deposit. Today, we reached our first critical milestone by issuing an updated mineral resource estimate. Infill drilling has increased indicated resources by 65% and improved our confidence in the grade and tonnage of the Deposit.” “McIlvenna Bay is a large, cohesive VMS deposit, containing considerable amounts of copper and zinc, along with gold, silver and lead. The contained metal within the Deposit has significantly increased since our last resource update. We are now pulling this information into the delivery of another key milestone, a Feasibility Study, scheduled for release before the end of the year,” Mr. Soares further noted. The 2019 Resource Estimate will be used to support the upcoming feasibility study (“Feasibility Study”), expected in Q4 2019. The mineral resource estimate was audited and verified by Mr. William Lewis, P.Geo. of Micon International Limited (“Micon”), independent of Foran and a Qualified Person as defined within National Instrument 43-101 (“NI43-101”) The 2019 Resource Estimate is summarized in Table 1. See below for additional information with respect to Qualified Person, Estimation Methodology and Parameters. | |
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