Published: April 2, 2021 |

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Foran Mining Corporation has bolstered the design team for its ongoing definitive feasibility study (FS) at its 100 percent owned McIlvenna Bay deposit in Saskatchewan, Canada.

The appointments will provide the company with technical expertise from some of the world’s leading environmental and engineering specialists to execute on its strategy to build the world’s first copper mine designed to be carbon neutral from day one of production. The advisors are anticipated to employ a range of technologies and initiatives in the design of the mine and processing facilities to materially reduce greenhouse gas emissions and the environmental impact of the operations. Importantly, Foran’s due diligence to date has highlighted the potentially superior returns achievable through implementing this strategy, while the use of battery electric vehicles will also be safer for employees, reducing risk of injury and physical stressors, such as vibration and noise. Importantly, the high-grade results over wide intervals reported so far from Foran’s 30,000 metre drilling program have emphasized the quality of the deposit and its potential to be developed into a high-grade, long-life mining camp, located in the one of the greatest mining jurisdictions in the world.

“McIlvenna Bay will be a mine for the future, designed to be carbon neutral from day one of production. Our due diligence strongly suggests that we can generate superior returns using renewable energy and electric fleets, for example. With this in mind, the appointment of these world-class environmental and engineering specialists reflects our ambition to develop a technically and economically compelling solution to the environmental and social challenges which have been traditionally associated with the sector. We are therefore thrilled that professionals of this caliber have agreed to support us on this journey,” said Dan Myerson, executive chair of Foran.

“Together, we intend to ensure that our operations emit net zero greenhouse gases and set new safety benchmarks for the industry, while also ensuring that the local community and the broader Canadian population benefit from our operations. The responsible production of copper and zinc is critical as the world transitions to a low carbon future; these metals are used in the production of renewable energy assets and electronic industries for example,” added Myerson.

The FS team includes experts from:

• Stantec: mine design and engineering

• Knight Piésold Ltd.: tailings storage facility design

• Halyard Inc.: process plant design

• Micon International Limited: resource estimate

• Base Metallurgical Laboratories Ltd.: metallurgical testing

• Canada North Environmental Services Ltd.: environmental

• Synergy Enterprises: sustainability and carbon accounting

Foran filed a technical report for the pre-feasibility study (PFS) in April 2020, which demonstrated positive economics for McIlvenna Bay at lower metal prices than currently forecasted and identified numerous development opportunities. As many countries transition their energy grids to renewable energy, and the public demand for electric vehicles increases, demand for metals such as copper, zinc and silver is widely anticipated. Foran’s McIlvenna Bay Project is well positioned to meet this future demand.

Foran has commenced its largest drill program ever, with over 30,000 meters of infill and expansion drilling in the deposit. The infill program has been designed to maximize the conversion of the current inferred resource to the indicated resource category, which can then be interrogated for inclusion in the updated reserve statement.

Objectives of the FS will include:

• Further optimization and detailing of McIlvenna Bay Project engineering, including the estimation of reserves, mine design, stope sequence, development and production schedules

• Incorporate updated metal pricing, metal recoveries and smelter terms into a revised NSR cut-off calculation

• Refining power and equipment requirements to support the company’s commitment to carbon neutral operations

• Update and detail the design and feasibility of the tailings desulphurization process, dry stack storage facility and cemented paste backfill processes

• Detailed construction scheduling, including optimizations that would arise from pre-fabrication and/or modular (off-site) construction to the greatest extent possible

• Identify further mine optimization to increase productivity and reduce operational expenditures

• Consider equipment usage and activities where greenhouse gas emissions can be eliminated, reduced or off-set to ensure that McIlvenna Bay is a carbon neutral operation

About Foran Mining
Foran Mining Corporation engages in the acquisition, exploration, and advancement of mineral properties in Saskatchewan, Canada. The company primarily explores for copper, zinc, lead, gold, and silver deposits. Its flagship project is the McIlvenna Bay property comprising 38 claims that covers an area of 20,907 hectares located in east central Saskatchewan. Foran Mining Corporation was incorporated in 1989 and is headquartered in Vancouver, Canada.

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