Foran Mining Corporation (FOM, FMCXF) is thrilled to announce significant assay results from its recent summer drill program at the Tesla Zone, a key part of their 100%-owned McIlvenna Bay property in Saskatchewan. The infill drill program, conducted from land using directional drilling technologies, aimed to further understand and confirm the continuity of copper-rich mineralization within the Tesla Zone. This program has yielded remarkable results.
Hole TS-24-30, targeting a 200m by 150m area, successfully intersected a wide lens of copper-rich mineralization, further highlighting the strength and potential scale of the Tesla Zone. The hole intersected a continuous mineralized zone consisting of copper-rich breccia and stringer-style mineralization, along with zinc-rich massive sulphide. Notably, this included:
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3.4m of massive sulphide grading 4.29% Cu, 8.21% Zn, 55.5 g/t Ag and 0.03 g/t Au (6.64% CuEq), including 0.8m grading 7.61% Cu, 9.11% Zn, 50.6 g/t Ag and 0.04 g/t Au (9.92% CuEq)
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31.2m of breccia and stringer mineralization grading 2.40% Cu, 0.48% Zn, 19.2 g/t Ag and 0.51 g/t Au (2.72% CuEq), including a 4.1m thick interval of higher-grade breccia mineralization grading 4.68% Cu, 0.56% Zn, 31.5 g/t Ag and 1.03 g/t Au (5.18% CuEq).
These intercepts suggest significant growth potential as Foran continues to define the Tesla Zone through infill drilling. Further exciting news is that assay results from six additional infill Tesla holes are currently pending, with results expected soon. Furthermore, plans are underway for a substantial Tesla infill and expansion ice-based winter drill program from Hanson Lake.
Erin Carswell, Foran’s Vice President, Exploration, stated, “These latest drilling results at the central Tesla Zone have reinforced its copper potential. We observe a clear zonation from deeper zinc and gold-rich mineralization to shallower copper-dominant lenses. TS-24-30 provides a new and important intersection through copper-rich breccias and a thickened copper lens, confirming the continuity of mineralization between existing holes. Through targeted infill drilling, we are enhancing our confidence and demonstrating the growing potential of the Zone. These results underscore Tesla’s importance within our broader portfolio as we advance McIlvenna Bay’s construction alongside our ongoing exploration strategy, continuing to unlock the full potential of our growing district.”
Since its discovery in 2022, the Tesla Zone has been intersected by 33 drill holes and wedges, with mineralization defined in multiple lenses consisting of zinc and/or copper-rich massive and semi-massive sulphides and associated copper-rich stringer and breccia zones. These zones extend over a strike length of 1,200m and 500-700m in the down-dip direction, remaining open in all directions for continued expansion. The summer infill drill program involved approximately 10,800m of drilling, targeting the central part of the Tesla Zone to fill gaps in the current drill hole spacing. The drill holes were collared on land to cover approximately 300m of strike length, and were drilled from the footwall side using directional drilling techniques to provide orthogonal intersections into the mineralized horizons.
This release presents the first results of the summer infill drill program, with copper-rich mineralization intersected by initial hole TS-24-30. The program was designed to test an area with no drilling between previous holes TS-23-07w2 and TS-23-08 (approximately 200m apart along strike) and TS-22-03w2 and TS-24-15 (approximately 150m apart down the dip of the Zone). A drilling density map highlights the importance of drilling TS-24-30 for continuity of information between wider-spaced drill holes.
TS-24-30 intersected the same geology and host rocks as the majority of Tesla Zone drilling, although in this case the mineralized zones were intersected in reverse order due to the drilling approach from the footwall side of the mineralization. The hole returned a combined 36.5m mineralized interval over three contiguous lenses, consisting of a narrow lens of stringer-style copper-rich mineralization directly overlying a zinc and copper-rich massive sulphide lens (Tesla Main Lens). This was followed directly downhole by a thick, copper–rich zone of stringer/breccia-style mineralization. Significantly, the lower copper zone intersected in the hole was almost double the thickness that was predicted from the modelling in the area.
Foran’s commitment to exploration and development of the McIlvenna Bay Project continues to drive impressive results, positioning the Tesla Zone as a key contributor to the company’s success in building a new mining camp in a prolific district. This latest discovery further underscores the immense potential of the McIlvenna Bay Project, and we eagerly await the upcoming release of additional assay results and the initiation of the winter drill program.
