Foran Announces $5M Exploration & Development Program for 2013
Published : October 01, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Market | Report |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2012) - Foran Mining Corporation (News - Market indicators) ("Foran" or the "Company") is pleased to announce a $5M exploration and development program for the Company's 100%-owned McIlvenna Bay deposit ("McIlvenna Bay" or the "Deposit") and surrounding landholdings in east central Saskatchewan.

The budget for the program has been approved by the Company's Board of Directors for fiscal 2013, commencing October 1, 2012, and is planned to include:

  • 7,000m of drilling planned for winter 2013, comprised of approximately 5,000m to test regional targets around McIlvenna Bay and approximately 2,000m on the Deposit,
  • An updated mineral resource to include all drilling to date on the Deposit (over 86,000 metres in 184 holes drilled from 1988 to 2012),
  • Further metallurgical testwork and related studies to build on scoping-level work completed in 2012,
  • Engineering studies related to proposed mine infrastructure and development,
  • The continuation of ongoing baseline environmental studies, which will provide the basis for a Preliminary Economic Assessment ("PEA") and the future permitting for commercial development of the Deposit, and
  • A PEA of McIlvenna Bay.

Patrick Soares, President and CEO of Foran commented: "Over the next twelve months we plan to continue to advance McIlvenna Bay to the next stage through conducting a PEA and commencing the work required for feasibility level studies, while at the same time continuing to explore our large and highly prospective landholdings around the Deposit." Mr. Soares continued, "With our recently completed financing and strong treasury, Foran is well-financed to undertake our 2013 exploration and development program."

About Foran Mining

Foran is a diversified exploration and development company with projects in the Flin Flon Mining Belt. The Company's flagship McIlvenna Bay property is located in east central Saskatchewan, 65 kilometres west of Flin Flon, Manitoba and contains the McIlvenna Bay deposit, one of the largest undeveloped volcanogenic massive sulphide deposits in Canada.

For additional information on the McIlvenna Bay deposit, see the report entitled "Technical Report on the McIlvenna Bay Project, Saskatchewan, Canada" dated December 9, 2011 at www.sedar.com or www.foranmining.com. Roger March, VP Project Exploration for Foran and a Qualified Person within the meaning of National Instrument 43-101 has reviewed and approved the technical information in this release.

Foran trades on the TSX.V under the symbol "FOM". As of October 1, 2012 the Company's current cash position is approximately $9.4M.

Forward-Looking Statements

This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Foran Mining Corporation
Patrick Soares
President & CEO
416-847-7310
or
Foran Mining Corporation
Fiona Childe
VP, Corporate Development
416-847-7310
ir@foranmining.com
www.foranmining.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Foran Mining Corp.

CODE : FOM.TO
ISIN : CA3449112018
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Foran Mining is a copper exploration company based in Canada.

Foran Mining holds various exploration projects in Canada.

Its main exploration properties are KISSEYNEW, LEO LAKE and MCILVENNA BAY-HANSON LAKE in Canada.

Foran Mining is listed in Canada. Its market capitalisation is CA$ 390.9 millions as of today (US$ 287.2 millions, € 258.2 millions).

Its stock quote reached its highest recent level on May 17, 2024 at CA$ 4.67, and its lowest recent point on August 09, 2024 at CA$ 3.43.

Foran Mining has 98 970 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Nominations of Foran Mining Corp.
2/7/2013Appoints Technical Consultant
5/5/2011Continues to Build Management Team: Appoints CFO and VP Corp...
Financials of Foran Mining Corp.
5/23/2013Announces Results of Annual and Special Meeting of Sharehold...
2/22/2013Reports First Quarter 2013 Results
Corporate news of Foran Mining Corp.
7/1/2016Foran Announces Closing of Non-Brokered Financing for Procee...
6/15/2016Foran Announces $1,000,000 Non-Brokered Private Placement
5/30/2016Foran Reports First Quarter 2016 Results
5/30/2016Foran Response to Trading Activity
3/30/2016Foran Reports 2015 Annual Financial Results
3/23/2016Foran Announces Expiry of Stock Options
3/23/2016Foran Announces Grant of Stock Options
9/8/2015Foran Bigstone Deposit Update
8/24/2015Foran Reports Second Quarter 2015 Results
6/18/2015Foran to Commence Metallurgy at the Bigstone Copper-Zinc Dep...
4/20/2015Foran Announces Best Hole Drilled To Date in the Bigstone Co...
4/20/2015Foran Reports 2014 Year End Results
4/20/2015Foran Intersects High-Grade Zinc in First Drill Hole at Bigs...
4/17/2015Foran Announces Best Hole Drilled to Date in the Bigstone Co...
4/16/2015Foran Reports 2014 Year End Results
4/2/2015RETRANSMISSION: Foran Intersects High-Grade Zinc in First Dr...
4/2/2015RETRANSMISSION: Foran Intersects High-Grade Zinc in First Dr...
4/1/2015Foran Intersects High-Grade Zinc in First Drill Hole at Bigs...
4/1/2015Intersects High-Grade Zinc in First Drill Hole at Bigstone: ...
3/25/2015Foran Confirms and Expands Thunder Zone Copper-Zinc Discover...
3/25/2015Confirms and Expands Thunder Zone Copper-Zinc Discovery: Bui...
1/15/2015Commences Winter Exploration Program in the Hanson Lake Camp
10/31/2013DEEP-EM Survey Identifies Two High Priority Targets
9/24/2013Presents Traditional Land Use Study
9/18/2013Completes Summer Program at McIlvenna Bay
8/21/2013Forum Increases Financing to $2.25 Million
6/4/2013Completes Successful Infill Drill Program on the McIlvenna B...
5/16/2013Commences Engineering Studies at McIlvenna Bay
4/19/2013Notice of Annual and Special Meeting of Shareholders
4/8/2013Discovers New Zone of High-Grade Copper Mineralization at Ba...
3/27/2013Announces New McIlvenna Bay Resource
2/19/2013Commissions DEEP EM Geophysical Survey
1/25/2013Reports 2012 Year End Results & Granting of Stock Options
1/14/2013Commences Winter Drill Program
11/9/2012Retains Market Maker
10/1/2012Announces $5M Exploration & Development Program for 2013
7/20/2011Commissions Updated Mineral Resource Estimate for McIlvenna ...
7/19/2011Awards Environmental and Engineering Studies for McIlvenna B...
6/15/2011Completes Phase One Program at McIlvenna Bay with High Grade...
6/7/2011Phase One Drilling Continues to Intersect Good Grades & Widt...
6/6/2011Announces Appointment of Corporate Secretary and Grant of St...
5/10/2011Intersects 1.70% Cu and 0.46 g/t Au Over 47.55m at McIlvenna...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (FOM.TO) (FMCXF)
3.95-0.75%2.900.00%
TSX-V
CA$ 3.95
09/18 17:00 -0.030
-0.75%
Prev close Open
3.98 3.95
Low High
3.89 4.00
Year l/h YTD var.
3.44 -  4.57 -6.84%
52 week l/h 52 week var.
3.44 -  4.57 -1.50%
Volume 1 month var.
378,391 1.80%
24hGold TrendPower© : -4
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.08+0.50%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.91-2.73%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.60+0.67%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.06+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 12.67+0.88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19+2.70%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.77-2.21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.37-0.22%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.