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Jonathon Naylor Editor Foran Mining Corp. remains encouraged by its McIlvenna Bay deposit as the company launches a second round of exploratory drilling. The Vancouver-based junior miner says it plans to spend $5.7 million on a drill campaign that has already begun and will stretch into early 2012. "The new management team at Foran continues to advance and hit our key milestones, as we move towards our ultimate goal of building a world-class mine at McIlvenna Bay," said Patrick Soares, president and CEO, in a news release. The latest phase of exploration is to involve 12,000 to 15,000 metres of diamond drilling in approximately 35 holes. A drill rig has been mobilized to the site, located 60 km west of Flin Flon, and three holes totaling 822 metres have been completed to date. A second drill is expected to be mobilized to property in late August. Due to the seasonality of access to some drill sites, drilling will be carried out in two campaigns, which will include an initial 8,000 to 10,000 metres in 18 to 20 holes drilled in the summer/fall. The balance of the holes are to be drilled early next year. Expansion Foran said drilling will focus on step-out on potential areas of expansion of the Copper Stockwork Zone, infill of the known deposit area, and verification holes Material from several of the holes will also be used for metallurgical testwork and geotechnical assessment. Meanwhile, a 34-person camp has been permitted and built at McIlvenna Bay. It will serve as a permanent base for Foran's planned exploration and development of the project. A regulatory framework for the permitting of future development at McIlvenna Bay is well underway with a final report anticipated in the fourth quarter of 2011. Preliminary engineering studies, consisting of geochemical and geotechnical testwork has commenced as planned. An updated mineral resource estimate, which will include information from Foran's initial phase of drilling, is now underway. It is expected to be completed sometime between Oct. 1 and Dec. 31. Foran calls McIlvenna Bay its flagship project. The company says it is one of the largest undeveloped volcanogenic massive sulfide (VMS) deposits in Canada. According to Foran, the deposit was discovered in early 1988 during a drill program by a Saskatchewan Mineral Development Corporation. Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by Foran.8/24/2011