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
Foran Mining has reported steady progress, with construction now 56% complete and first production still targeted for mid-2026. The project remains on budget.

During August, the company advanced 597 m of underground development, a record month for the project, and increased its surface ore stockpile to more than 112 000 t, surpassing the 100 000 t milestone.

Major surface works have also advanced, including completion of the tailings water management pond, enclosure of the main process plant building and significant progress on the main electrical substation.

Foran has received first disbursements under federal government funding agreements – C$2.6-million from the Critical Minerals Infrastructure Fund and C$7.8-million from the Strategic Innovation Fund – with further contributions expected as construction advances.

Key Contracts, Suppliers and Consultants
None stated.

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