Foran drills at McIlvenna Bay

Foran Mining (FOM-V) is performing 2,500 metres of follow-up drilling to test the depth extension of its McIlvenna Bay zinc-copper-gold deposit in the Flin Flon greenstone belt of northern Saskatchewan.

The latest hole, No. 124, is targetting a 1,075-metre-deep area near an interpreted fold nose, where down-hole geophysical surveying indicates the presence of an anomaly that may represent a higher-grade, copper-rich core.

Also, Foran has signed a letter-of-intent allowing First Choice Industries (FSD-V) to earn into its Big Island property, 10 km east of Flin Flon, Man.

To earn a 50% interest, First Choice must make cash payments totalling $500,000, issue 200,000 shares and complete $1 million in work commitments over five years. First Choice can then boost its stake to 75% by paying Foran $500,000 and spending another $1 million on exploration.