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Foran Mining announces a summary of results from 6 additional holes at McIlvenna Bay

Mining News - Published on Tue, 06 Nov 2018

Image Source: SteelGuru
Foran Mining Corporation announced a summary of results from six additional holes from the summer resource definition drill program at its 100% owned McIlvenna Bay copper-zinc deposit (“McIlvenna Bay” or the “Deposit”) in Saskatchewan.

Highlights:
The results from this batch of holes is highlighted by MB-18-217 which intersected 27.84 metres (“m”) of contiguous mineralization from both the zinc-rich Zone 2 massive sulphide and the underlying copper-rich Copper Stockwork Zone (“CSZ”), including:
11.33% Zn, 0.45% Cu, 18.87 grams per tonne (“g/t”) Ag, 0.28 g/t Au or 12.50% zinc equivalent (“ZnEq”) over 8.25m from Zone 2, and
1.36% Cu, 0.21% Zn, 4.80 g/t Ag, 0.21 g/t Au or 1.46% copper equivalent (“CuEq”) over 19.95m from the CSZ.
“The infill drill program at McIlvenna Bay continues to return significant zones of massive sulphide and stockwork mineralization from the Deposit as highlighted by MB-18-217. Once all of the final assay results are in hand, a revised resource estimate will be completed for the Deposit. The new resource estimate will represent a significant milestone for both Foran and the McIlvenna Bay Deposit as we advance the project towards completion of a Feasibility Study, expected in H2 2019. A number of Feasibility Study programs are running in parallel with the resource work including metallurgical studies to optimize metal recoveries, geotechnical work and detailed engineering. This is an exciting time for Foran.” Commented, Patrick Soares, President & CEO of Foran.

1 True thickness is estimated to be approximately 80-85% of drill indicated. Holes MB-18-217 and MB-18-214w1 were drilled at off-section azimuths for geotechnical purposes and report true thicknesses that are estimated at 60-70% of drilled length.
2 CuEq and zinc equivalent (“ZnEq”) calculated using the following metal prices: US$2.80/lb Cu; US$1.21/lb Zn; US$1,227/oz Au; US$14.49/oz Ag and includes provisions for metallurgical recoveries.

Technical Information
The holes contained in this release all targeted the Zone 2 massive sulphide lens and underlying CSZ of the McIlvenna Bay deposit. This release provides the results of an additional six holes from the recently completed summer program at McIlvenna Bay, which encompassed a total of 12,100m of drilling in 36 holes. The program included 14 wedge cuts which were drilled to collect additional material for metallurgical samples (six of these were drilled from historic holes which were re-entered to allow special representation for metallurgical purposes). See the drill plan map in Figure 1 and the long section in Figure 2 for more information. Also, as part of the program, three short holes were drilled to collect geotechnical information in the area of the proposed portal site and three holes were drilled to allow the installation of piezometers in the deposit area as part of a larger hydrogeological testing program to characterize local ground water flow.

The Deposit consists of several distinct zones of VMS mineralization, including massive to semi-massive sulphide in Zone 2, the Upper West Zone (“UWZ”) and Lens 3, and stockwork-style sulphide mineralization in the underlying CSZ.

These latest holes targeted the Zone 2 massive sulphide and underlying CSZ of the Deposit at depths of between approximately 325 and 1,100m below surface along the plunge of the Deposit. The results of these holes provide better definition of the boundary between the copper-zinc-rich UWZ and the zinc-rich Zone 2 massive sulphide in the central part of the Deposit for ongoing resource work, increase the density of drilling in some areas to upgrade inferred resources to indicated categories, and provide additional geotechnical information for mine planning. Detailed results from these holes are provided in Table 1 above.

Hole MB-18-217 was drilled at an oblique angle to the majority of the drill holes in the Deposit with a dual purpose of providing information for the upcoming resource estimate and detailed geotechnical information to assist with mine planning. The hole successfully intersected a thick package of mineralization, including 27.84m of contiguous mineralization from the Zone 2 massive sulphide and underlying CSZ. The massive sulphide intersection consisted of a core length of 8.25m grading 11.25% zinc followed directly downhole by a 19.59m interval of the CSZ grading 1.36% Cu. These results compare favourably with the previously released results for the wedge hole MB-18-217w1 (see September 27th, 2018 news release FORAN INTERSECTS 27 METRES OF CONTINUOUS MINERALIZATION) which was completed to collect additional sample material for metallurgical testing.

Hole MB-18-214w1 was drilled as a wedge cut off of previously released MB-18-214 (also announced in the September 27th, 2018 news release FORAN INTERSECTS 27 METRES OF CONTINUOUS MINERALIZATION) to collect additional metallurgical sample material. This hole was also drilled at an off-section orientation to provide geotechnical information and targeted the boundary between the UWZ and Zone 2 massive sulphide approximately 350m below surface to better define that contact. MB-18-241w1 intersected a 2.82m interval of zinc-rich massive sulphide grading 8.29% Zn and a thick interval of the underlying CSZ grading 1.86% Cu over a core length of 15.34m.

Hole MB-18-208w1 was drilled as a wedge off of previously released MB-18-208 (see May 23, 2018 news release FORAN HITS 9.6% ZINC OVER 8.1 METRES – McIlvenna Bay remains open at depth) to collect additional material for metallurgical testing. The results of this wedge hole were slightly better than the parent hole, intersecting a 4.76m interval of Zone 2 grading 5.46% Zn followed downhole by a 9.89m interval of the CSZ grading 1.19% Cu.

Hole MB-18-220 was drilled in an area of limited drilling to increase the density of holes with the intention of upgrading inferred resources into indicated categories at a vertical depth of approximately 850m. The hole successfully intersected the Zone 2 massive sulphide which should allow the conversion of the inferred resources in this part of the Deposit. The hole intersected a 0.92m interval of massive sulphide grading 5.97% Zn.

Hole MB-18-134w1 was drilled as an extension of an historic hole, targeting the downdip edge of the Deposit, that was originally lost when the drill rods were stuck back in 2007. The hole was re-opened during the summer program and a wedge was cut above the location of the stuck rods to complete the hole and better define the downdip edge of the resource in this sector of the Deposit. The hole successfully intersected a narrow interval of the Zone 2 massive sulphide at a vertical depth of approximately 1,100m which will help confirm the lower edge of the Deposit in this area.

Hole MB-18-143w1 was drilled as a wedge from the parent hole (MB-11-143) which was originally drilled in 2011. The hole was re-entered this summer and a wedge cut was completed to allow the mineralized zones to be sampled and provide additional material for metallurgical testwork. MB-18-143w1 intersected a high-grade portion of the Zone 2 massive sulphide grading 9.07% Zn over 3.38m, followed down hole by a thick interval of the CSZ grading 1.19% Cu over 16.54m.

Source :

Posted By : Rabi Wangkhem on Tue, 06 Nov 2018
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