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Foran Mining Corp.
Summary
| Project: | McIlvenna Bay | |
|---|---|---|
| Deposit: | Upper West Zone | |
| Location: | Canada | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 11/22/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 22-11-2018: Foran Mining Corp. announces an Exploration/Drilling Update report for its Upper West Zone deposit at the McIlvenna Bay project. Drilling results incl. 35.09m @ 1.03g/t Au, 10.68g/t Ag, 1.80% Cu, 0.22% Zn from 455.91m. Vancouver, BC (November | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Roger March (Internal) | |
| ABSTRACT: | Vancouver, BC (November 22, 2018) - Foran Mining Corporation (TSX.V: FOM) (“Foran” or the “Company”) is pleased to announce the final results from the 2018 summer resource definition drill program at its 100% owned McIlvenna Bay copper-zinc deposit (“McIlvenna Bay” or the “Deposit”) in Saskatchewan. “The 2018 McIlvenna Bay infill drill program has been an unqualified success. Tighter drill spacing in the deeper parts of the deposit should upgrade a significant portion of the inferred resources to the indicated category which in turn, should roll into the eventual McIlvenna Bay mineral reserve. Engineering and metallurgical studies are underway and the project is on track to deliver a feasibility study in H2 2019,” commented, Patrick Soares, President & CEO of Foran. “We are working hard to advance McIlvenna Bay towards a production decision we hope will catch the anticipated copper-zinc price rebound.” This release includes results from five wedges which were drilled off of historic holes to collect representative material for metallurgical studies. The holes targeted a portion of the Upper West Zone (“UWZ”) midway along the plunge of the deposit, where the holes returned thick intervals of contiguous mineralization through the massive sulphide and the underlying Copper Stockwork Zone (“CSZ”), with very high-grade copper and gold results intersected in several holes. The holes contained in this release all targeted the UWZ massive sulphide lens and underlying CSZ of the McIlvenna Bay deposit and were drilled as wedge cuts from historic holes to gather representative sample material from the central part of the deposit for upcoming metallurgical studies. These holes represent the final results from the 36 hole, 12,100m summer drill program at the Deposit which was designed to better define and potentially expand the Deposit in preparation for a revised resource estimate which will feed into ongoing feasibility level studies currently underway. | |
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