Skip to content

Foran signs letter

The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.

The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.

Foran Mining is pleased to announce that it has signed a letter of intent to purchase 100% of Aur's interests in 30 Mining Claim Groups, located in the Flin-Flon, Snow Lake and Lynn Lake areas of Manitoba and Saskatchewan. This purchase would give Foran control of 21 massive sulphide zones, at least eight gold deposits/zones with grades greater than 10 gms Au/t, one Ni-Cu-Co zone and provide Foran with numerous developed drill targets, most of which are designed to extend known zones. These properties include 30 property claim groups totalling more than 50,000 hectares, all associated data files, airborne data for over 70 airborne EM surveys, as well as office and warehouse equipment, furnishings and supplies. The land package includes 21 massive sulphide zones (most geological resources calculated pre-NI 43-101), at least eight gold deposits/zones with grades >greater than 10 gms Au/t and one Ni-Cu-Co zone. Foran's management views this acquisition as a strategic asset that will enhance Foran's ability to grow and help provide shareholders with a better opportunity for an exceptional return on their investment Foran will gain a huge, well-documented exploration data base with modern up to-date reports and property evaluations, including both extensive regional and property airborne and ground geophysical surveys, geochemical surveys, geological mapping, 160+ kilometres (100 miles) of well-stored and documented drill core and over 10,000 square kilometres of airborne EM and magnetic data. Foran believes that many new discoveries will be made on this extensive prospective land package in these prolific, metal-rich greenstone belts.

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks