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.
A promising mineral deposit outside Flin Flon looks even more encouraging following a revised assessment. Junior miner Foran Mining Corp. says it has boosted its mineral resource estimate for its McIlvenna Bay deposit. 'The increased mineral resource...demonstrates the impressive size and continued growth of McIlvenna Bay, one of the major VMS (volcanogenic massive sulphide) deposits in the district,' said Patrick Soares, president and CEO of Foran, in a press release. Foran said its updated data has increased 'indicated' ore tonnage at McIlvenna by 15 per cent and tonnage in the less reliable 'inferred' category by 18 per cent. This includes increases in a part of the deposit known as the Copper Stockwork Zone, where the company said indicated reserves are up 37 per cent and inferred resources up 53 per cent. Roger March, vice-president of project exploration for Foran, said two years of drilling, core-sampling and resurveying were all part of the revised mineral resource estimate. Soares said the makeup of the deposit indicates 'excellent potential for low-cost underground bulk mining,' an option that will be explored in future engineering work. See 'Open' on pg. The McIlvenna Bay deposit remains open, Foran said, so there is potential for further increases. Even before the revised mineral assessment was recently released, Foran had spent a few years touting the potential of McIlvenna Bay, located 65 kilometres west of Flin Flon, in Saskatchewan. In 2011, for instance, Soares boldly proclaimed Foran's goal of one day operating 'a world-class mine' at the property. As with many pronouncements related to ore bodies in this region, it was widely greeted with a healthy dose of I'll-believe-it-when-I-see-it skepticism. That's understandable and probably prudent. But Soares insists that in the two years since a new management team took over McIlvenna Bay, 'a great deal' of progress has been achieved. Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by Foran.
