Name of the Project
McIlvenna Bay underground copper/zinc project.

Location
East-central Saskatchewan, in Canada.

Project Owner/s
Copper/zinc/gold/silver exploration and development company Foran Mining.

Project Description
McIlvenna Bay is the largest undeveloped volcanic-hosted massive sulphide deposit along the prolific Flin Flon greenstone belt.

McIlvenna Bay hosts one of the biggest undeveloped volcanogenic massive sulphide deposits in the region, with indicated resources of 39-million tonnes grading 1.2% copper, 2.16% zinc, 0.41 g/t gold and 14 g/t silver.

A feasibility study published in 2022 outlines that current mineral reserves would potentially support an 18-year underground mine operation capable of producing an average of 65-million pounds a year of copper equivalent.

Phase 1 entails the development of a decline/shaft underground mining operation using typical longhole mining methods for ore extraction with cemented paste fill replacement. 

Ore is expected to be processed through a conventional single-stage crushing circuit with a semiautogenous grinding mill and ball mill design. Grinding is planned to be followed by a flotation circuit to produce a copper and zinc concentrate for transportation from site to the Flin Flon area for shipment by rail for further refinement. A pyrite concentrate will be produced and introduced within the cemented paste fill for storage underground. The project is targeting an ore stockpile of about 275 000 t to support commissioning.

Foran is laying the groundwork for potential future Phase 2 expansion, which will leverage recent exploration discoveries at the Tesla and Bridge zones.

Potential Job Creation
The project will support more than 400 jobs.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Phase 1 is estimated at $604-million.

Planned Start/End Date
Initial production is expected in the fourth quarter of 2025, with commercial production targeted for the first half of 2026.

Latest Developments
The Canadian government has committed up to C$41-million in funding for the project, marking the first Strategic Innovation Fund (SIF) investment in a copper development project in the country.

The funding, provided under the government’s SIF programme, will support the integration of advanced mining technologies, including battery-electric vehicles, water recycling systems, heat recovery solutions and pyrite removal in mine tailings.

A portion of the funding will be nonrepayable while the remainder will be an unconditional repayable contribution.

The SIF programme, administered by Innovation, Science, and Economic Development Canada, aims to accelerate the growth of innovative Canadian businesses and attract large-scale investments in industrial transformation projects.

The funding will cover eligible expenses incurred before December 31, 2026, with withdrawals based on investments in battery-electric underground mining equipment, remote-operations control centres, ventilation and heat recovery systems, water recycling and pyrite removal technologies.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Foran Mining, tel +1 604 488 0008 or email ir@foranmining.com.