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Foran Mining Commences Summer Drilling Program

Mining News - Published on Mon, 30 Jul 2018

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Foran Mining Corporation has launched that its summer program for resource definition and infill drilling on the company’s flagship McIlvenna Bay zinc-copper deposit in Saskatchewan, with four drills and over 30 employees and contractors now on site to complete the planned 11,000 metre program.

Mr Patrick Soares president and CEO of Foran, said that “2018 is a landmark year for Foran. We will complete two drill programs totalling over 26,000m while significantly advancing our feasibility study. Our latest round of financing in June raised over CAD 9 million and was over-subscribed, signalling a major vote of confidence in this project by our investors.These funds will be used to advance the feasibility study, and further explore McIlvenna Bay in order to grow the deposit.

Mr Soares said that “Foran is well positioned to exploit the increased demand for copper and zinc that is expected due to the increased worldwide demand for electric vehicles and alternative energy sources. The delivery of a positive feasibility study along with growth in the McIlvenna Bay resource and the discovery of additional deposits on the property should allow us to achieve this goal.”

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Posted By : Rabi Wangkhem on Mon, 30 Jul 2018
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