- Foran Mining Corp. (TSX:FOM) is making the most out of its properties across Saskatchewan, specifically the Tesla Zone discovery
- The Vancouver-based miner reported that its roughly 8,000-metre drill program over the summer and fall months is progressing with a “robust pipeline of targets advancing through exploration”
- Foran has completed more than 17,800 line-kilometres of airborne geophysical surveys during 2023-2024 to get a better look at potential targets, using Falcon gravity gradiometry and HeliTEM2 and VTEM Max electromagnetic data
- Foran Mining Corp. opened trading at C$4.05 per share
Foran Mining Corp. (TSX:FOM) is making the most out of its properties across Saskatchewan, specifically the Tesla Zone discovery.
The Vancouver-based miner has been digging through high-priority anomalies looking for deeper potential discoveries across its land package. The company reported that its roughly 8,000-metre drill program over the summer and fall months is progressing well, with a “robust pipeline of targets advancing through exploration.”
It is in this area that the team is working through the McIlvenna Bay Deposit / Tesla Zone mineralization corridor, where exploration efforts are being driven to pursue new discoveries.
Foran has completed more than 17,800 line-kilometres of airborne geophysical surveys during 2023-2024 to get a better look at potential targets, using Falcon gravity gradiometry and HeliTEM2 and VTEM Max electromagnetic data.
“As we continue to expand and delineate the Tesla Zone, we are also focused on advancing efforts to target our next major regional discovery. Over the past two years, we have employed a highly structured approach, combining insights from Tesla with geophysics and structural geoscience to demonstrate the potential of our properties,” Foran’s vice president, exploration, Erin Carswell, explained in a media release. “This approach underscores the prolific nature of our land package and the various opportunities for growth. Our sustained efforts, backed by advanced high-quality airborne datasets, are providing a solid foundation to explore for potential future discoveries. By optimizing opportunities for success, we are advancing our district-scale approach to realize Foran’s vision of a multi-decade mining complex, all while prioritizing risk-adjusted returns for our shareholders.”
Foran’s Properties encompass an under-explored area of the Flin Flon Greenstone Belt, one of the most prolific mining belts in the world for gold, silver, copper, and zinc. Adding the Tesla Zone can provide a lot of scale potential, adding to the potential within the McIlvenna Bay Deposit.
Clusters of VHMS deposits across the Flin Flon Greenstone belt, showing the comparatively low drilling density of Foran’s under-explored properties. (Source: Foran Mining Corp.)
Looking ahead, the company has obtained permits to start an airborne electromagnetic survey over the Denare West property, aiming to explore new potential along the strike from McIlvenna Bay.
As the summer-fall regional drilling program continues, the team is concentrating on locations of significance, such as the Bacchus prospect.
Foran’s regional exploration strategy seeks to uncover significant opportunities, with new data and insights guiding the next phase of targeted drilling across selected properties.
Foran Mining Corp. (TSX:FOM) opened trading at C$4.05 per share and has risen 2.31 per cent since the year began.
Foran Mining is a zinc-copper exploration and development company with projects along the Flin Flon Greenstone Belt. The company owns the McIlvenna Bay and Bigstone projects. McIlvenna Bay is the world’s first carbon-neutral copper development project, host to a significant and scalable resource in Saskatchewan. The Bigstone deposit is within the Northern Lights Property, which lies west of McIlvenna Bay.
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(Top photo of Foran’s exploration team conducting field-based activities such as structural geology mapping during the 2024 field season in Saskatchewan. Source: Foran Mining Corp.)