Tesla Zone
Tesla Zone – Discovered in 2022, represents the next phase of growth for Foran in Saskatchewan
The Tesla Zone is shaping up as a major copper-zinc-gold-silver discovery. With consistent high-grade drill results, thick mineralized intervals, and a growing underground footprint, Tesla compounds the value of Foran’s flagship McIlvenna Bay Project. Continued drilling and geophysical targeting are expected to further define a maiden resource and expand the scope of mineralization.
The Tesla zone is composed of multiple mineralized lenses that sit adjacent to the McIlvenna Bay deposit. Tesla represents an important part of Foran’s broader portfolio as we advance McIlvenna Bay’s construction alongside our ongoing exploration strategy.
Discovered in 2022, the Tesla Zone has intersected significant mineralization consisting of copper, zinc and precious metal-rich massive sulphides, stringers and breccia zones over a strike length of 1,350m and 500-700m in the down-dip direction.
Tesla remains open for continued expansion. Our ongoing focus is expansion and infill drilling across Tesla to determine a maiden resource and support development planning.
Key Stats
Discovery in 2022
Strike length of 1,350 and 500-700 m in the down dip direction where it remains open in all directions for continued expansion
2024 Exploration Target** 28-45 Mt
Grading 2.22-3.2% Copper Equivalent:
0.9-1.3%%
Copper
3.6-5.4%
Zinc
0.2-0.3g/t
Gold
22-34g/t
Silver
**The potential quantity and grade of this Exploration Target is conceptual in nature. There has been insufficient exploration to define a mineral resource in this area and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
At the time of the exploration target, the Tesla zone had a strike length of 1,200 and a down-dip direction of 500-700m.
Notes:
- Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) definitions for mineral resources were followed; Cu = copper, Zn = zinc, Ag = silver; Au = gold, CuEq = copper equivalent
- Exploration Target is based on the results from 32 drill holes using a Cu cut-off grade of 0.3% Cu for the copper-dominated lenses and a Zn cut-off grade of 1.0% Zn for the zinc-dominated lenses to define the wire frames for the mineralized zones; Assays within these lenses were composited into 1m composites, with Zn capped at 20% and Cu capped at 7%
- CuEq grades were derived using provisions for metallurgical recovery based on life of mine (LOM) metallurgical recovery rates derived from test work on blended ores for the McIlvenna Bay Deposit completed as part of the 2022 Feasibility Study: 91.1% Cu, 79.8% Zn, 88.6% Au and 62.3% Ag. Metal prices used are US$4.00/lb. Cu, US$1.50/lb. Zn, US$1,800/oz. Au, and US$20.00/oz.
- A specific gravity of 3.59 g/cm3 was applied to massive sulphide lenses, and 3.00 g/cm3 was applied to stockwork lenses in the Exploration Target volume based on the results of 85 density measurements of mineralized drill core
Tesla’s Significant Assay Results
| Hole ID | Zone | From (m) | To (m) | Interval (m) | Cu (%) | Zn (%) | Ag (g/t) | Au (g/t) | CuEq (%) |
|---|---|---|---|---|---|---|---|---|---|
| TS-23-10 | CS | 1219.8 | 1258.8 | 39.0 | 2.86 | 0.88 | 41.4 | 0.74 | 3.98 |
| Including | CS | 1221.9 | 1233.1 | 11.2 | 4.97 | 1.72 | 60.2 | 1.26 | 6.88 |
| TS-23-07w1 | MS | 951.2 | 985.50 | 34.3 | 0.25 | 8.47 | 57.5 | 0.41 | 4.11 |
| Including | MS | 951.2 | 971.0 | 19.8 | 0.25 | 12.44 | 74.6 | 0.37 | 5.70 |
| TS-25-37 | MS/CS | 1379.5 | 1432.1 | 52.6 | 1.75 | 2.04 | 22.0 | 0.41 | 2.54 |
| Including | CS | 1392.0 | 1402.0 | 10.0 | 3.17 | 0.44 | 36.1 | 1.04 | 3.79 |
| TS-23-12 | MS/CS | 1142.0 | 1186.8 | 44.0 | 1.08 | 5.09 | 32.3 | 0.39 | 2.88 |
| TS-24-24w4 | MS | 1520.6 | 1543.0 | 22.4 | 1.13 | 14.30 | 25.8 | 0.35 | 5.63 |
| TS-24-20 | MS/CS | 1395.2 | 1422.1 | 26.9 | 1.23 | 7.55 | 38.4 | 0.20 | 3.67 |
| Including | MS | 1403.8 | 1406.3 | 2.5 | 2.40 | 5.39 | 62.5 | 0.20 | 4.20 |
| TS-22-06A | MS | 1205.0 | 1222.1 | 17.1 | 0.59 | 13.07 | 23.5 | 0.04 | 5.69 |
| TS-24-30 | CS | 1273.6 | 1304.8 | 31.2 | 2.40 | 0.48 | 19.2 | 0.51 | 2.72 |
| Including | CS | 1278.9 | 1283.0 | 4.1 | 4.68 | 0.56 | 31.5 | 1.03 | 5.18 |
Note : Composite widths are presented as core lengths. Additional drilling will be required to confirm the geometry of the mineralized zones, but generally true widths are thought to be 8085% of core length. Intervals generally composited using a 0.5% Cu cut-off grade in the stringer zones. Copper Equivalent values calculated using metal prices of $4.00/lb Cu, $1.50/lb Zn, $20.00/ounce Ag and $1,800/ounce Au and LOM metallurgical recovery rates derived from test work on blended ores for the McIlvenna Bay Deposit completed as part of our April 2022 Feasibility Study: 91.1% Cu, 79.8% Zn, 88.6% Au and 62.3% Ag (MS – massive / semi-massive sulphide, CS – Copper Stockwork/Stringer, QV – quartz-carbonate-albite alteration/veining, L3 – Lens 3 (McIlvenna Bay), L2 – Lens 2 (McIlvenna Bay), CSZ – Copper Stockwork Zone (McIlvenna Bay)). To date no metallurgical test work has been completed on the Tesla Zone or Bridge Zone mineralization.
Adjacent Bridge Zone Discovery
The Bridge Zone is located between the Tesla Zone and McIlvenna Bay Deposit.
It was discovered in 2023 when multiple zinc and copper-rich horizons of massive, semi-massive and stringer-style sulphide mineralization were intersected by three drill holes in the 300 m-wide window that lies between the southernmost drilling at the Telsa Zone and the northernmost drilling at McIlvenna Bay.
Discovery hole MB-23-287 intersected a total of 26m of mineralization, most noteworthy a 4.9m zone grading 3.42% Cu, 1.47% Zn, 32.6% g/t Ag and 0.01 g/t Au.
This zone has continued to be expanded through drilling in 2024 and, most notably and recently, the 2025 winter drilling.
Bridge Significant Assay Results
| Hole ID | Zone | From (m) | To (m) | Interval (m) | Cu (%) | Zn (%) | Ag (g/t) | Au (g/t) | CuEq (%) |
|---|---|---|---|---|---|---|---|---|---|
| BZ-25-01 | MS/CS | 1074.9 | 1096.6 | 21.8 | 1.28 | 1.11 | 13.3 | 0.57 | 1.89 |
| Including | MS/CS | 1076.6 | 1079.6 | 3 | 2.22 | 2.34 | 23.7 | 1.25 | 3.56 |
| MB-23-287 | MS | 1000.4 | 1007.5 | 7.1 | 1.39 | 4.39 | 31.8 | 0.01 | 2.73 |
| Including | MS | 1000.4 | 1001.6 | 1.2 | 1.80 | 8.89 | 32.1 | 0.001 | 4.45 |
| MB-23-287 | CS | 1070.7 | 1075.7 | 4.9 | 3.42 | 1.47 | 32.6 | 0.01 | 3.71 |
| Including | CS | 1072.2 | 1074.2 | 2 | 5.00 | 0.99 | 39.6 | 0.004 | 5.04 |
| MB-23-289 | MS | 1144.2 | 1157.1 | 13.0 | 0.87 | 4.83 | 39.9 | 0.17 | 2.52 |
| Including | MS | 1144.2 | 1145.8 | 1.7 | 1.12 | 12.65 | 40.0 | 0.24 | 5.13 |
| MB-23-289 | MS | 1321.2 | 1324.5 | 3.3 | 0.44 | 5.27 | 23.2 | 0.24 | 2.22 |
| Including | MS | 1323.0 | 1324.5 | 1.4 | 0.80 | 8.98 | 31.6 | 0.33 | 3.75 |
Note 1: Composite widths are presented as core lengths. Additional drilling will be required to confirm the geometry of the mineralized zones, but generally true widths are thought to be 80-85% of core length. Intervals generally composited using a 0.5% Cu cut-off grade in the stringer zones. Copper Equivalent values calculated using metal prices of $4.00/lb Cu, $1.50/lb Zn, $20.00/ounce Ag and $1,800/ounce Au and LOM metallurgical recovery rates derived from test work on blended ores for the McIlvenna Bay Deposit completed as part of our April 2022 Feasibility Study: 91.1% Cu, 79.8% Zn, 88.6% Au and 62.3% Ag (MS – massive / semi-massive sulphide, CS – Copper Stockwork/Stringer, QV – quartz-carbonate-albite alteration/veining, L3– Lens 3 (McIlvenna Bay), L2 – Lens 2 (McIlvenna Bay), CSZ – Copper Stockwork Zone (McIlvenna Bay)). To date no metallurgical test work has been completed on the Tesla Zone or BridgeZone mineralization.
Mr. Roger March, P. Geo., Principal Geoscientist for Foran, is the Qualified Person for all technical information herein regarding the Tesla Zone Exploration Target, including the validity of all assay and geological information incorporated herein, and has reviewed, verified and approved the technical information on this webpage.
The Micon QPs have reviewed the Exploration Target for disclosure under NI 43-101 standards.
Expansion Potential
The Tesla and Bridge zones remain open in all directions.
Borehole EM (BHEM) and deeper drillhole testing have indicated deeper expansion potential to the northeast.
Further expansion and resource-driven drilling are planned for subsequent programs.
Location and Infrastructure
The Tesla zone is adjacent to and north of the McIlvenna Bay deposit located on Foran’s 20,900 hectare McIlvenna Bay Property in east-central Saskatchewan, approximately 65 km west of Flin Flon, Manitoba (85 km by road).
The Tesla zone, McIlvenna Bay deposit and Foran’s exploration camp are road-accessible, located 85 km west of Flin Flon via Provincial Highway 106 and 17 km south on the Hanson Lake all-weather gravel road. Power lines run the length of the Hanson Lake gravel road to the McIlvenna Bay deposit.
The mining town of Flin Flon (pop. 5,600), is the largest commercial/residential centre in the area connected to a railhead on the Hudson Bay railway. The Flin Flon airport has regular commercial air service to Winnipeg.
Innovation
- Veracio’s TruScan edXRF core scanning included in site workflows for real-time, whole-hole geochemistry
- Campaign-based laser-induced breakdown spectroscopy (LIBS) using Elemission’s E-Core Mobile Technology
- Oriented drill core collected for deposit-scale interpretation
- Downhole petrophysical surveying of a representative suite of holes
- Ongoing petrographic analysis
In-house M.Sc. studies are underway in collaboration with the University of Saskatchewan and funded by the Natural Sciences and Engineering Research Council. One such study focuses on the newly discovered gold zone at the Tesla zone, aiming to construct a robust scientific model that explains the depositional mechanism, the mineralogy and the spatial/temporal relationship to other styles of mineralization at Tesla.