Highlight intercept of 21m of 3.6% copper equivalent at Bigstone
Marconi target now 900m in strike length and open in all directions
Key Highlights
- Bigstone hole BS-21-251 returned 75.0m grading 2.1% copper equivalent ("CuEq"), including 20.6m 3.6% CuEq.
- Hole BS-21-248 returned 7.6m grading 1.1% CuEq, including 3.7m grading 1.8% CuEq.
- Marconi currently extends 900m along strike and remains open in all directions.
- Following the same exploration strategy that discovered Tesla, airborne magnetic and surface electromagnetic surveys at Marconi highlight anomalous targets that potentially correlate with higher grade opportunities.
- 2022 drilling at the Marconi target will consist of 7 holes, totalling 3,000m.
Over the past year, fifteen drill holes were completed in the Bigstone deposit area encompassing 6,130m which consisted of near deposit holes designed to expand known zones both up and down dip and along strike with some infill drilling in certain areas to upgrade current inferred resources to indicated categories. Bigstone currently hosts an estimated resource of 1.98 million tonnes ("Mt") in the Indicated category grading 2.22% CuEq and an additional 1.88 Mt of Inferred resources grading 2.14% CuEq.
Two holes (BS-21-257 and -258) encompassing 855m were drilled as ~150m step-outs to the north of the deposit to test an electromagnetic anomaly along strike that has a similar character as the known Bigstone deposit and one hole (BB-21-01) was drilled ~420m to the south of the deposit at the
The program was successful in intersecting and expanding the known mineralization in the mid-levels of the deposit, where holes (BS-21-245, -246 -247, -248, -250, -251, -254, -255) successfully intersected the upper
A complete listing of drill results are provided in Table 1 below. Planning is currently underway for the next phase of drilling which will focus on further expansion of the deposit in the mid-levels and at depth where the mineralized zones remain open, along with select infill holes to convert inferred resources to the indicated category.
Table 1. Significant intercepts from the 2021 Bigstone Drill program:
Hole
| Zone
| From (m) | To (m) | Interval | Cu (%) | Zn (%) | Ag (g/t) | Au (g/t) | CuEq (%) |
BS-21-245** | 294.75 | 304.25 | 9.50 | 0.42 | 14.00 | 76.9 | 0.37 | 6.2 | |
Including | 298.30 | 299.20 | 0.90 | 0.28 | 57.24 | 24.9 | 0.06 | 21.9 | |
And | 301.35 | 302.47 | 1.12 | 0.52 | 18.98 | 27.3 | 0.12 | 7.8 | |
BS-21-245** | 308.70 | 311.50 | 2.80 | 1.36 | 0.12 | 25.0 | 1.97 | 2.4 | |
BS-21-246** | 222.00 | 225.00 | 3.00 | 0.03 | 0.23 | 3.7 | 0.78 | 0.5 | |
Including | 222.00 | 223.00 | 1.00 | 0.03 | 0.30 | 8.1 | 1.78 | 1.0 | |
BS-21-246** | 228.80 | 231.70 | 2.90 | 0.11 | 8.75 | 5.6 | 0.25 | 3.5 | |
Including | 229.65 | 230.20 | 0.55 | 0.01 | 30.90 | 19.0 | 0.15 | 11.8 | |
BS-21-246** | 237.50 | 239.50 | 2.00 | 2.17 | 1.07 | 42.8 | 2.09 | 3.7 | |
Including | 238.00 | 238.50 | 0.50 | 3.14 | 1.54 | 63.0 | 5.49 | 6.5 | |
BS-21-247** | 213.50 | 215.20 | 1.70 | 0.57 | 0.44 | 229.9 | 1.21 | 2.4 | |
Including | 213.50 | 214.00 | 0.50 | 0.35 | 0.08 | 454.0 | 2.06 | 3.6 | |
BS-21-247** | 221.00 | 222.00 | 1.00 | 0.20 | 1.50 | 2.8 | 0.99 | 1.2 | |
BS-21-247** | 226.10 | 228.10 | 2.00 | 0.38 | 0.07 | 8.7 | 0.39 | 0.6 | |
BS-21-247** | Zn Stringer | 258.45 | 259.35 | 0.90 | 0.01 | 20.30 | 0.3 | 0.03 | 7.6 |
BS-21-247** | FW zone | 282.00 | 283.00 | 1.00 | 0.23 | 10.22 | 1.1 | 0.02 | 4.1 |
BS-21-248 | 300.66 | 308.23 | 7.57 | 0.16 | 2.47 | 2.2 | 0.10 | 1.1 | |
Including | 300.66 | 304.31 | 3.65 | 0.15 | 4.21 | 3.5 | 0.15 | 1.8 | |
And | 304.00 | 304.31 | 0.31 | 0.09 | 12.90 | 5.7 | 0.31 | 5.1 | |
BS-21-248 | Zn Stringer | 317.37 | 318.50 | 1.13 | 0.13 | 0.78 | 0.1 | 0.01 | 0.4 |
BS-21-249 | NSV | ||||||||
BS-21-250 | 251.34 | 254.50 | 3.16 | 0.01 | 1.02 | 0.96 | 0.01 | 0.4 | |
Including | 251.34 | 252.50 | 1.16 | 0.02 | 1.69 | 0.80 | 0.01 | 0.7 | |
BS-21-251 | 252.50 | 253.85 | 1.35 | 0.14 | 1.23 | 1.2 | 0.04 | 0.6 | |
BS-21-251 | Zn Stringer | 271.00 | 273.00 | 2.00 | 0.17 | 1.07 | 2.2 | 0.06 | 0.6 |
BS-21-251 | 284.00 | 359.00 | 75.00 | 1.86 | 0.18 | 8.8 | 0.36 | 2.1 | |
Including | 335.40 | 356.00 | 20.60 | 3.48 | 0.10 | 11.2 | 0.14 | 3.6 | |
BS-21-252 | NSV | ||||||||
BS-21-253 | NSV | ||||||||
BS-21-254 | 335.00 | 337.18 | 2.18 | 0.16 | 1.15 | 4.54 | 0.05 | 0.6 | |
Including | 336.57 | 337.18 | 0.61 | 0.16 | 2.21 | 4.12 | 0.07 | 1.0 | |
BS-21-254 | Zn Stringer | 361.00 | 367.71 | 6.71 | 0.07 | 0.93 | 0.89 | 0.02 | 0.4 |
Including | Zn Stringer | 364.38 | 367.71 | 3.33 | 0.06 | 2.31 | 0.92 | 0.02 | 0.9 |
BS-21-254 | 422.20 | 431.90 | 9.70 | 0.69 | 0.13 | 5.29 | pending | - | |
Including | 424.80 | 427.38 | 2.58 | 0.93 | 0.25 | 6.12 | pending | - | |
BS-21-255 | 220.20 | 223.20 | 3.00 | 0.04 | 0.58 | 5.1 | 0.01 | 0.3 | |
BS-21-256 | 49.90 | 50.20 | 0.3 | 0.03 | 0.005 | 0.1 | 5.49 | 2.5 | |
BS-21-257 | NSV | ||||||||
BS-21-258 | NSV | ||||||||
BB-21-01 | 279.10 | 280.30 | 1.20 | 0.62 | 0.01 | 2.53 | 0.07 | 0.7 |
1 True thickness is estimated to be approximately 60-65% of drill indicated. Copper Equivalent (CuEq) values calculated using metal prices of |
** Drill hole results previously released in Foran's news release |
The Marconi target represents a 900m long zone of anomalous copper mineralization defined by 13 historic holes located 500m to the east of the Bigstone Deposit. As outlined in the magnetic map provided in Figure 3 below, copper appears to be spatially associated with the margin of magnetic granodiorite and quartz porphyry intrusions along the full length of its strike extent.
Foran drilled two holes at Marconi during 2021. Mineralization along the Marconi trend appears to be related to the contact between a granodiorite intrusion and felsic volcanic rocks. Based on historic drilling, copper mineralization at Marconi is relatively consistent with thick zones of moderate grade (>0.5% Cu) along the known strike length, with high-grade zones (>1% Cu) intersected in several holes.
As highlighted in Table 2 below, hole MC-21-02 successfully intersected significant anomalous copper mineralization hosted in felsic volcanics, returning 18m of 0.44% Cu and 27m of 0.38% Cu. Hole MC-21-02 hit the same contact, 250m up-dip from historical hole BS-187, which intersected 16.1m @ 0.55% Cu as outlined in the cross-section provided in Figure 4 below. Expectations are that the zone remains open up-dip to the paleosurface (~40m below surface), since historic hole BS-16 was not drilled deep enough to intersect the mineralized contact. Mineralization is also open down-dip below historic hole BS-187 which ended in mineralization.
MC-21-01 targeted the centre of the magnetic granodiorite intrusion and did not test the mineralized contact. Significant drill intercepts drilled by Foran are listed in Table 2, and historical drilling is highlighted Table 3 below.
Table 2: Significant Drill Intercepts from
Hole | From | To | Interval | Cu | Zn | Ag | Au | Cu Eq | Cut-off |
(m) | (m) | ( %) | ( %) | (g/t) | (g/t) | ( %) | ( %) | ||
MC-21-01 | 211.0 | 212.0 | 1.0 | 0.01 | 0.02 | 0.1 | 1.92 | 0.9 | |
MC-21-01 | 282.7 | 283.1 | 0.4 | 0.25 | 0.01 | 0.9 | 0.02 | 0.3 | |
MC-21-02 | 222.3 | 225 | 2.7 | 0.24 | 0.01 | 0.7 | 1.05 | 0.7 | 0.20% Cu |
MC-21-02 | 238.0 | 256.0 | 18.0 | 0.44 | 0.01 | 0.8 | 0.05 | 0.5 | 0.20% Cu |
Including | 238.0 | 242.0 | 4.0 | 0.87 | 0.01 | 1.4 | 0.11 | 0.9 | 0.50% Cu |
And | 247.6 | 250.8 | 3.1 | 0.50 | 0.01 | 1.0 | 0.06 | 0.5 | 0.50% Cu |
MC-21-02 | 259.0 | 286.0 | 27.0 | 0.38 | 0.01 | 2.6 | 0.06 | 0.4 | 0.20% Cu |
1 True thickness is estimated to be approximately 70-80% of drill indicated. Copper Equivalent (CuEq) values calculated using metal prices of |
Table 3: Results from historic Marconi drilling
Hole | From | To | Interval | Cu | Zn | Ag | Au | Cut-off |
(m) | (m) | ( %) | ( %) | (g/t) | (g/t) | ( %) | ||
BS-176 | 97.4 | 108.2 | 10.8 | 0.45 | 0.01 | 1.37 | 0.18 | 0.20% Cu |
Including | 97.4 | 102.0 | 4.6 | 0.62 | 0.01 | 1.7 | 0.12 | 0.50% Cu |
BS-177 | 135.3 | 173 | 37.7 | 0.39 | 0.01 | 1.36 | 0.04 | 0.20% Cu |
Including | 137.5 | 140.5 | 3.05 | 0.94 | 0.00 | 2.84 | 0.16 | 0.50% Cu |
And | 157.8 | 162.5 | 4.7 | 0.63 | 0.02 | 1.46 | 0.05 | 0.50% Cu |
BS-178 | 452.85 | 458.2 | 5.35 | 0.64 | 0.01 | 0.87 | 0.09 | 0.20% Cu |
Including | 453.85 | 457.5 | 3.65 | 0.81 | 0.01 | 1.16 | 0.11 | 0.50% Cu |
BS-178 | 462.85 | 473.35 | 10.5 | 0.42 | 0.01 | 0.62 | 0.06 | 0.20% Cu |
Including | 467.5 | 472.5 | 5.0 | 0.67 | 0.02 | 1.14 | 0.1 | 0.50% Cu |
BS-178 | 475.45 | 504.5 | 29.05 | 1.25 | 0.02 | 2.61 | 0.24 | 0.50% Cu |
BS-179 | 130.0 | 146.0 | 16.0 | 0.42 | 0.01 | 0.56 | 0.03 | 0.20% Cu |
Including | 132.0 | 134.8 | 2.8 | 0.55 | 0.01 | 0.51 | 0.01 | 0.50% Cu |
And | 139.0 | 142.0 | 3.0 | 0.69 | 0.01 | 1.07 | 0.06 | 0.50% Cu |
BS-179 | 266.2 | 272.4 | 6.2 | 0.4 | 0.00 | 1.55 | 0.05 | 0.20% Cu |
BS-179 | 274.5 | 281.5 | 7.0 | 0.49 | 0.01 | 1.98 | 0.06 | 0.20% Cu |
Including | 274.5 | 277.5 | 3.0 | 0.6 | 0.01 | 3.06 | 0.07 | 0.50% Cu |
BS-187 | 476.7 | 492.8 | 16.1 | 0.55 | 0.01 | 0.83 | 0.07 | 0.20% Cu |
Including | 479.05 | 489.25 | 10.2 | 0.65 | 0.01 | 0.99 | 0.08 | 0.50% Cu |
BS-190 | 327.5 | 332.1 | 4.6 | 0.47 | 0.01 | 4.67 | 0.1 | 0.20% Cu |
BS-190 | 337.8 | 343.1 | 5.3 | 0.37 | 0.01 | 3.63 | 0.04 | 0.20% Cu |
Including | 339 | 341.1 | 2.1 | 0.62 | 0.01 | 4.46 | 0.07 | 0.50% Cu |
BS-190 | 370.5 | 374.6 | 4.1 | 0.34 | 0.01 | 3.55 | 0.02 | 0.20% Cu |
B-97-219 | 417 | 431 | 14 | 0.41 | 0.01 | 3.12 | 0.05 | 0.20% Cu |
Including | 421 | 425.6 | 4.6 | 0.64 | 0.01 | 4.39 | 0.07 | 0.50% Cu |
B-97-220 | 138.4 | 151.9 | 13.5 | 1.17 | 0.03 | 4.64 | 0.07 | 0.20% Cu |
B-97-220 | 159.77 | 179.27 | 19.5 | 0.32 | 0 | 2.22 | 0.01 | 0.20% Cu |
B-97-221 | 173.7 | 202.4 | 28.7 | 0.58 | 0.01 | 3.64 | 0.07 | 0.20% Cu |
Including | 182.8 | 186.6 | 3.78 | 0.88 | 0.01 | 4.96 | 0.06 | 0.50% Cu |
And | 190.5 | 200.8 | 10.3 | 0.88 | 0.01 | 4.63 | 0.12 | 0.50% Cu |
1 Note on Marconi Historic Exploration Drilling: There is insufficient information available at this time for the QP to verify the historic results as defined under N1-43-101 and the historic results presented here for the previous Marconi drilling are therefore treated as historical exploration information. The company considers these historical results relevant to assess the mineralization and exploration potential of the Marconi area and larger property. |
Alteration and mineral assemblages at Marconi indicate both an epigenetic Cu-Au overprint and the presence of earlier sulphide mineralization. Several phases of magnetite are considered to be alteration products, with chalcopyrite using both pre-existing sulphides and magnetite as the chemical agents needed for precipitation. The Bigstone deposit also has a strong association with magnetite, and similarities between the two suggest that they may have in part formed through similar processes and are bound by a structurally controlled "node" (i.e. defined by a set of NNE and NW trending faults) approximately 2km x 2.5km in size as interpreted from airborne magnetics data.
An interpreted spatial association between magnetite and copper mineralization at both Bigstone and Marconi provides a vector for future drilling in this covered terrain and the recognition of a potentially new style of mineralization for this district allows Foran Geoscientists to better plan future exploration at existing prospects as well as the greater region.
The company plans to drill seven holes, and approximately 3,000m at Marconi this summer to further test and better define the historic mineralized horizons. Drilling will focus on exploring for higher grade zones within the wide spaced historic drilling, as well as testing to extend mineralization to the south along the intrusive contact. Work to date indicates Marconi remains open in all directions, and work will be completed to confirm and expand the target in an effort to move the Marconi to the resource definition stage.
The program will utilize oriented core to better understand the structural controls on mineralization and drilling will be focused on the potential for higher grade shoots within the mineralized zones in the area between Section 1 and Section 2 as outlined in Figure 3 above. It is currently anticipated that the summer drill program at Bigstone will begin in July.
Drilling was completed using NQ size diamond drill core and core was logged by employees of the Company. During the logging process, mineralized intersections were marked for sampling and given unique sample numbers. Sampled intervals were sawn in half using a diamond blade saw. One half of the sawn core was placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. Sample assays are performed by the
Mr.
Foran trades on the TSX.V under the symbol "FOM" and on the OTCQX under the symbol "FMCXF".
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