Foran Mining has released an update for shareholders on its activities at its McIlvenna Bay zinc-copper deposit in eastern Saskatchewan
Foran Mining (TSXV:FOM) has released an update for shareholders on its activities at its McIlvenna Bay zinc-copper deposit in eastern Saskatchewan, what is describes as the largest known undeveloped volcanogenic massive sulfide deposit ion the Flin Flon green stone belt.
The company released information among other things about activities on a feasibility study at McIlvenna at the same time as it released an update on a recent private placement.
- Foran personnel and the Glencore Canada Corporation (LSE:GLEN) technical services team visited the Hudbay concentrator and tailings facilities in Flin Flon, Manitoba, located about 100 km by road from McIlvenna Bay. The purpose of the trip was to explore the potential of using the Flin Flon infrastructure to treat materials that may be mined from McIlvenna Bay in the future. Glencore is currently reviewing a number of possible scenarios before finalizing the McIlvenna Bay feasibility study inputs. The visit to the Hudbay facilities was for information gathering purposes only. At the current time, Foran and Hudbay have no agreement in place to process McIlvenna Bay mineralization at the Flin Flon complex.
- Drilling is expected to re-start at McIlvenna Bay in early July. This program is intended to better delineate the central part of the deposit to depths of up to 700 metres below the surface, as well as collect samples for metallurgical purposes. Additional drilling is expected to be conducted later in the summer for geotechnical studies that will form part of the feasibility study.