Key Highlights:
– Significant copper-rich breccia and mineralization found in Hole TS-24-30.
– High-grade section of massive sulphide with 4.29% copper, 8.21% zinc discovered.
– Tesla zone’s potential demonstrated through infill drilling.
– McIlvenna Bay boasts substantial copper and zinc reserves.
Foran Mining Corporation has uncovered high-grade copper at McIlvenna Bay in the Tesla zone. Hole TS-24-30 revealed a broad zone containing copper-rich breccia, stringer-style mineralization, and zinc-rich massive sulphide. Within this discovery, a section of massive sulphide measuring 3.4 meters graded 4.29% copper, 8.21% zinc, 55.5 g/t silver, and 0.03 g/t gold. Notably, a subsection of this area showed even higher grades with 7.61% copper, 9.11% zinc, 50.6 g/t silver, and 0.04 g/t gold within 0.8 meters.
Further exploration identified a longer 31.2-meter section rich in breccia and stringer mineralization with grades of 2.40% copper, 0.48% zinc, 19.2 g/t silver, and 0.51 g/t gold. Among this, a higher-grade breccia portion exhibited concentrations of 4.68% copper, 0.56% zinc, 31.5 g/t silver, and 1.03 g/t gold.
Erin Carswell, the VP of Exploration at Foran, highlighted the transition from deeper zinc and gold-rich mineralization to shallower copper-dominant lenses. More infill drilling is planned to enhance confidence in the zone’s potential at Tesla. These positive results underscore the importance of Tesla within Foran’s operations as they progress with the construction of McIlvenna Bay.
The McIlvenna Bay site currently holds probable reserves of 25.7 million tonnes at 2.51% copper equivalent, containing 697 million lb. of copper and 1.4 billion lb. of zinc. Additionally, indicated resources stand at 39 million tonnes grading 2.04% copper equivalent with 1.0 billion lb. of copper and 1.9 billion lb. of zinc. Moreover, there is an inferred resource of 5 million tonnes at 1.8% copper, equivalent to 104 million lb. of copper and 282 million lb. of zinc.
Awaiting assay results from more Tesla holes and planning for the winter drill program intensifies with a focus on additional Tesla infill drilling and ice-based expansion from Hanson Lake. Foran’s recent discoveries mark a significant advancement within the mining industry, promising prospects for future developments at McIlvenna Bay.
