{"id":11,"date":"2022-01-20T00:51:09","date_gmt":"2022-01-20T00:51:09","guid":{"rendered":"https:\/\/foranmining.com\/?page_id=11"},"modified":"2024-02-22T09:13:39","modified_gmt":"2024-02-22T15:13:39","slug":"mcilvenna-bay-project","status":"publish","type":"page","link":"https:\/\/foranmining.com\/projects\/mcilvenna-bay-project\/","title":{"rendered":"McIlvenna Bay Project"},"content":{"rendered":"
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McIlvenna Bay<\/h6>\t\t\t\t

Targeting Carbon Neutral Production<\/h1>\t\t\t\t

McIlvenna Bay is a carbon neutral copper development project, host to a significant and scalable resource located in Saskatchewan, Canada, which is one of the world\u2019s premier mining jurisdictions.<\/p>\n<\/div>\t\t\t<\/div>\n\t\t\t

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Intro<\/a><\/div>\n\t\t\t\t\t\t\t\t\t
Innovation<\/a><\/div>\n\t\t\t\t\t\t\t\t\t
Key Stats<\/a><\/div>\n\t\t\t\t\t\t\t\t\t
Reports<\/a><\/div>\n\t\t\t\t\t\t\t\t\t
Location<\/a><\/div>\n\t\t\t\t\t\t\t\t\t
Ownership<\/a><\/div>\n\t\t\t\t\t\t\t\t\t
Additional Info<\/a><\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/span>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n
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McIlvenna Bay is the largest undeveloped VHMS deposit along the prolific Flin Flon Greenstone Belt.<\/h3>\n<\/div><\/div><\/div>\n\n\n\n
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McIlvenna Bay Feasibility Study Results<\/a><\/div>\n<\/div>\n<\/div><\/div><\/div>\n\n\n\n
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With Probable Mineral Reserves of 25.7 Mt at 2.51% CuEq containing 697 million pounds of copper and 1.4 billion pounds of zinc included in a Mineral Resource of 39 million Indicated tonnes grading 2.04% CuEq for 1.0 billion pounds of copper and 1.9 billion pounds of zinc and 5 million Inferred tonnes grading 1.8% CuEq for 104 million pounds of copper and 282 million pounds of zinc.<\/p>\n\n\n\n

The McIlvenna Bay Project is designed around a newly defined reserve accessed by new development and shares geologic characteristics similar to other major mines along the Flin Flon Greenstone Belt. Recent feasibility results outlined an initial phase 18 year mine life producing 65 Mlbs of copper equivalent at an average all-in sustaining cost (net of credits) of $0.90\/lb. The McIlvenna Bay Project is levered to commodity prices. At spot prices as at Arpil 4, 2022 (copper US$4.81\/lb), the initial phase project delivers a pre-tax NPV7%<\/sub> of C$1.1 billion and IRR of 54% (C$1.3B and 44% after-tax). The Deposit remains open and regional exploration continues to demonstrate the exciting potential to increase throughput and mine life.<\/p>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n\n\n

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Clean, Safer, and Efficient<\/h3>\n\n\n\n

The mine is being designed to take advantage of the latest technological advances as well as planning for future improvements, reducing our emissions and making the mine even safer and more efficient.<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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Clean power provided by two nearby hydroelectric dams reduces our operational emissions.<\/div>\t\t\t<\/div>\n\t\t\n\t\t\t\n\t\t\t
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A fleet of underground electric vehicles provides low-emission transportation and a cleaner, safer work environment.<\/div>\t\t\t<\/div>\n\t\t\n\t\t\t\n\t\t\t
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State of the art tailings storage facility and paste backfill operation will reduce our carbon footprint and greatly reduce environmental impact.<\/div>\t\t\t<\/div>\n\t\t\n\t\t<\/div>\n\n\t\n\n<\/div>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n
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Key Stats<\/h3>\n<\/div><\/div><\/div>\n\n\n\n
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20,900<\/h2>\n\n\n\n

Hectare licence area.<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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85km<\/span><\/h2>\n\n\n\n

West of Creighton, Saskatchewan via provincial highway.<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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100%<\/sup><\/h2>\n\n\n\n

Owned by Foran.<\/p>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div><\/div>\n\n\n\n

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Indicated resources 39Mt<\/span><\/span><\/a><\/div>\n<\/div><\/div><\/div>\n\n\n\n
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Grading at 2.04% Copper Equivalent:<\/p>\n\n\n\n

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1.20%<\/sup><\/span><\/p>\n\n\n\n

Copper<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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2.16%<\/sup><\/span><\/p>\n\n\n\n

Zinc<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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0.41g\/t<\/span><\/span><\/p>\n\n\n\n

Gold<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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14g\/t<\/span><\/span><\/p>\n\n\n\n

Silver<\/p>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div><\/div>\n\n\n\n

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Contains:<\/p>\n\n\n\n

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1.03<\/span> billion lbs Cu<\/p>\n

1.9<\/span> billion lbs Zn<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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510,000<\/span> oz Au<\/p>\n

18.0<\/span> million oz Ag<\/p>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div><\/div>\n\n\n\n

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Inferred resources 5Mt<\/span><\/span><\/a><\/div>\n<\/div><\/div><\/div>\n\n\n\n
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Grading at 1.77% Copper Equivalent:<\/p>\n\n\n\n

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0.94%<\/sup><\/span><\/p>\n\n\n\n

Copper<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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2.56%<\/sup><\/span><\/p>\n\n\n\n

Zinc<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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0.27g\/t<\/span><\/span><\/p>\n\n\n\n

Gold<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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16g\/t<\/span><\/span><\/p>\n\n\n\n

Silver<\/p>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div><\/div>\n\n\n\n

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Contains:<\/p>\n\n\n\n

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105<\/span> million lbs Cu<\/p>\n

284<\/span> million lbs Zn<\/p>\n<\/div><\/div><\/div>\n\n\n\n

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40,000<\/span> oz Au<\/p>\n

2.6<\/span> million oz Ag<\/p>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div><\/div>\n\n\n\n

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10 years\u2019 worth of carbon emissions from exploration activities now offset<\/a><\/div>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n
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Reports<\/h2>\n<\/div><\/div><\/div>\n\n\n\n
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\n\t\t\t\t\t\t\t\t\t\t\t2021 Mineral Resource Estimate on the McIlvenna Bay Project<\/span><\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\tForan Mining – 2020 GHG Inventory Report<\/span><\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t2020 NI43-101 Technical Report, Pre-feasibility Study for the McIlvenna Bay Project<\/span><\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\tTechnical Report for the 2019 Mineral Resource Estimate on the McIlvenna Bay Project, Saskatchewan, Canada; July 10, 2019<\/span><\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\tPreliminary Economic Assessment Technical Report McIlvenna Bay Project, Saskatchewan, Canada; Revised January 21, 2015<\/span><\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\tTechnical Report on the McIlvenna Bay Project, Saskatchewan, Canada; December 9, 2011<\/span><\/a>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\n\t\n<\/div>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n
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Location and Infrastructure<\/h2>\n\n\n\n

Foran\u2019s 20,900 hectare McIlvenna Bay Property is located in east-central Saskatchewan, approximately 65 km west of Flin Flon, Manitoba (85 km by road).<\/p>\n\n\n\n

The 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.<\/p>\n\n\n\n

The mining town of Flin Flon (pop. 5,600), is the largest commercial\/residential centre in the area and a railhead on the Hudson Bay railway. The Flin Flon airport has regular commercial air service to Winnipeg.<\/p>\n\n\n\n

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Ownership<\/h2>\n<\/div><\/div><\/div>\n\n\n\n
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Foran has a 100% interest in the McIlvenna Bay property, with some of the claims subject to a Net Tonnage Royalty of $0.75 per tonne of ore extracted, with Foran holding a right of first refusal if an offer to purchase the Net Tonnage Royalty is made.<\/p>\n\n\n\n

Cameco Corporate and BHP collectively hold a 1% Net Smelter Return royalty interest on McIlvenna Bay, which can be repurchased at any time for $1 million.<\/p>\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n

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Additional Info<\/h2>\n<\/div><\/div><\/div>\n\n\n\n
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