Wedge Hole Intercepts 6.2% Copper Equivalent over 11.9 metres
Step-out Hole 200m Along Strike Appears to
Key Highlights:
- Assay results from wedge hole 30m up-dip (TS-22-03w2) include:
- 11.9 metres ("m") grading 6.2% Copper Equivalent ("CuEq"), including 5.4m at 10.2% CuEq;
- 17.2m at 1.0% CuEq, including 3.9m at 1.4% CuEq; and
- 3.9m at 4.1% CuEq, including 2.2m at 5.9% CuEq.
- Assays from initial discovery hole (TS-22-03) now complete:
- Expanded preliminary intersection (12.4m at 1.8% CuEq) to 31.4m (from 12.4m), at 1.3% CuEq, including 1.2m at 8.5% CuEq; and
- Also expanded preliminary intersection of 3.1m at 2.2% CuEq to 7.1m at 1.5% CuEq, including 1.6m at 3.8% CuEq.
- Up-dip step-out hole TS-22-04 testing 200m strike appears to have intersected the
Tesla Zone , with assays pending. - Drilling provides further validation of the original geophysical modelling of a 900m strike x 300m wide conductor with true widths estimated to be ~25-50m (Figure 1).
Complete assay results have now been received for the
The full assay results from TS-22-03 indicate that the
Since the initial discovery of mineralization in the
TS-22-03w2 intersected the
TS-22-04 was completed from surface from the same drill pad at a shallower angle than the original hole in an attempt to obtain a spread of the intersections along the mineralized horizon. The hole intersected the mineralized horizon approximately 100m up-dip from the discovery hole and approximately 200m away from TS-22-03w2, where it encountered a zone of significant alteration and several zones of disseminated and fracture fill sulphide mineralization, indicating that the intersection lies on the periphery of the mineralization. Assays are pending from the laboratory, but it is currently interpreted that this drill hole intersected the upper margin of the
Geophysical surveys outline a conductor with potential dimensions of ~900m (strike) by 300m (depth) associated with the
Hole | From_m | To_m | Interval_m | Cu % | Zn % | Ag g/t | Au g/t | CuEq % |
TS-21-01 | 947.3 | 949.3 | 2.0 | 0.05 | 1.27 | 1.21 | 0.01 | 0.5 |
TS-22-03 | 822.7 | 824.3 | 1.5 | 0.68 | 1.35 | 7.5 | 0.36 | 1.4 |
TS-22-03 | 866.1* | 897.4 | 31.4 | 1.05 | 0.20 | 8.5 | pending | 1.3 |
Including | 872.2* | 873.4* | 1.2* | 7.80* | 0.64* | 42.3 | 0.61* | 8.5 |
TS-22-03 | 910.2 | 917.3* | 7.1 | 1.41 | 0.06 | 9.9 | 0.08 | 1.5 |
Including | 915.7* | 917.3* | 1.6* | 3.57* | 0.12* | 26.8 | 0.12 | 3.8 |
TS-22-03 | 927.1* | 928.9* | 1.8* | 1.39* | 8.99* | 17.0 | 0.13* | 4.9 |
Including | 927.9* | 928.9* | 1.0* | 1.49* | 15.88* | 18.4 | 0.17* | 7.6 |
TS-22-03 | 933.0* | 940.7* | 7.7* | 0.98* | 1.50* | 17.4 | 0.29* | 1.8 |
Including | 939.2* | 940.7* | 1.6* | 0.35* | 4.16* | 14.5 | 0.32* | 2.1 |
TS-22-03 | 948.2* | 953.1* | 5.0* | 0.71* | 2.62* | 21.8 | 0.32* | 1.9 |
Including | 948.2* | 950.2* | 2.0* | 1.36* | 1.58* | 26.1 | 0.45* | 2.3 |
And | 950.2* | 953.1* | 3.0* | 0.28* | 3.31* | 18.9 | 0.23* | 1.7 |
TS-22-03 | 955.1* | 960.5* | 5.4* | 2.29* | 1.66* | 19.2 | 0.96* | 3.4 |
Including | 959.1* | 960.2* | 1.1* | 7.19* | 3.62* | 44.2 | 3.63* | 10.4 |
TS-22-03 | 973.4 | 974.5 | 1.1 | 0.54 | 0.06 | 4.6 | 0.16 | 0.7 |
TS-22-03 | 977.9 | 978.6 | 0.7 | 0.74 | 0.08 | 5.2 | 0.13 | 0.9 |
TS-22-03 | 983.2 | 984.7 | 1.5 | 1.03 | 0.13 | 9.0 | 0.12 | 1.2 |
TS-22-03w2 | 808.1 | 812.0 | 3.9 | 3.00 | 2.72 | 20.3 | pending | 4.1 |
Including | 809.4 | 811.6 | 2.2 | 4.23 | 3.99 | 28.1 | pending | 5.9 |
TS-22-03w2 | 831.5 | 834.9 | 3.4 | 1.44 | 1.09 | 11.4 | 0.29 | 2.0 |
Including | 833.8 | 834.3 | 0.6 | 3.25 | 0.60 | 23.7 | 0.86 | 4.0 |
TS-22-03w2 | 847.0 | 849.0 | 2.0 | 2.17 | 1.19 | 30.0 | 0.74 | 3.1 |
TS-22-03w2 | 860.9 | 871.0 | 10.1 | 1.39 | 0.32 | 12.8 | 0.29 | 1.7 |
Including | 861.4 | 863.8 | 2.4 | 2.21 | 0.36 | 15.5 | 0.46 | 2.6 |
TS-22-03w2 | 875.5 | 887.4 | 11.9 | 1.18 | 13.04 | 16.9 | 0.20 | 6.2 |
Including | 882.0 | 887.4 | 5.4 | 1.66 | 22.50 | 18.7 | 0.05 | 10.2 |
TS-22-03w2 | 887.4 | 904.5 | 17.2 | 0.86 | 0.26 | 8.2 | 0.03 | 1.0 |
Including | 900.6 | 904.5 | 3.9 | 1.13 | 0.43 | 10.2 | 0.07 | 1.4 |
TS-22-02w2 | 919.4 | 921.8 | 2.4 | 2.47 | 1.33 | 20.7 | pending | 3.1 |
Including | 920.2 | 920.7 | 0.6 | 6.50 | 3.02 | 51.9 | pending | 7.9 |
TS-22-03w2 | 957.7 | 960.0 | 2.3 | 0.01 | 1.80 | 13.4 | 0.08 | 0.8 |
Including | 957.7 | 958.5 | 0.8 | 0.01 | 2.38 | 26.0 | 0.13 | 1.2 |
TS-22-03w2 | 977.0 | 979.0 | 2.0 | 0.07 | 2.04 | 6.5 | 0.19 | 1.0 |
TS-22-03w2 | 1017.8 | 1021.8 | 4.0 | 0.02 | 1.04 | 4.3 | 0.10 | 0.5 |
Note: Intersections are not true width. Intervals generally composited using a 0.5% Cu cut-off grade. 1Copper Equivalent values calculated using metal prices of
Additional follow up drilling at Tesla is planned for later in the year after the winter freeze. Foran's helicopter-supported 7,000m summer drill program is currently underway at the Marconi Prospect located on the Bigstone Property, 25km west of McIlvenna Bay. It is currently anticipated that the summer program will continue into the fall and also include further testing of the Flinty Prospect, located 7km to the southeast of McIlvenna Bay, and other regional target areas in the
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.
Neither the
McIlvenna Bay is a copper-zinc-gold-silver rich VHMS deposit intended to be the centre of a new mining camp in a prolific district that has already been producing for 100 years. McIlvenna Bay sits just 65km West of
McIlvenna Bay is the largest undeveloped VHMS deposit in the region. The Company announced the results from its Feasibility Study on
Foran trades on the TSX.V under the symbol "FOM" and on the OTCQX under the symbol "FMCXF".
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