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Foran Mining Files Technical Report for Mcllvenna Bay Resource

Mining News - Published on Mon, 15 Jul 2019

Image Source: SteelGuru
Foran Mining Corporation announced that it has filed a National Instrument 43-101 technical report for the recent revised resource estimate for the Company's 100%-owned Mcllvenna Bay Deposit located in east-central Saskatchewan. Mcllvenna Bay is one of the largest, undeveloped volcanogenic massive sulphide deposits in Canada. The 2019 Mcllvenna Bay Resource Estimate represents a significant milestone for the Company as it progresses with a Feasibility Study for potential development of the Deposit. The 2019 Resource Estimate was released on May 28th, 2019 and the reader is referred to the Company's News Release and/or the Report for detailed information on the Deposit and latest resource estimate.

Highlights of the 2019 Resource Estimate Include:
Indicated resources increase by 65%, to 22.95 million tonnes
Additional inferred resources of 11.15 million tonnes
Contained metals (indicated): 1.5 billion lbs Zn / 590 million lbs Cu
Contained metals (inferred): 450 million lbs Zn / 340 million lbs Cu
Indicated resources have increased 65%, from 13.9 million tonnes to 22.95 million tonne
Grading 1.17% copper, 3.05% zinc, 0.19% lead, 0.44 grams per tonne gold and 16.68 gram per tonne silver
Contains 1.5 billion pounds Zn and 590 million pounds Cu
Inferred resources are now 11.15 million tonne
Grading 1.38% copper, 1.83% zinc, 0.10 % lead, 0.47 grams per tonne gold and 14.81 grams per tonne silver o Contains 450 million pounds Zn and 340 million pounds Cu
Significant increase of contained metals within the Deposit compared to previous 2013 resource
89% increase in zinc, 52% increase in copper, 48% increase in gold and 61% increase in silver in the indicated category
The Deposit resources are defined by:
over 115,000 metres of drilling in 239 holes
includes over 27,000m of infill and expansion drilling completed in 64 drill holes since the last resource update in 2013
Main Lens massive sulphide and adjacent Copper Stockwork Zone together have an average combined thickness of 17.6 meter through the Deposit
Deposit starts at the paleosurface and extends down-plunge approximately 2 kilometer and
The Deposit is open, with potential to further increase the size of the resource with additional drilling.

Source :

Posted By : Sanju Moirangthem on Mon, 15 Jul 2019
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