Foran Mining to receive $155m for McIlvenna Bay copper project in Saskatchewan

Canada’s Foran Mining Corporation (TSX.V: FOM) (OTCQX: FMCXF) has inked a preliminary deal for a C$200m ($155.1m) sale of the company’s McIlvenna Bay copper project in Saskatchewan.

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Read the full article on mining.com

 

“…McIlvenna Bay is said to be the largest undeveloped Volcanogenic Massive Sulphide (VMS) deposit along the prolific Flin Flon Greenstone Belt, which sprawls east-central Saskatchewan and the central area of Manitoba.

 

Recent feasibility results outlined an initial phase 18 year mine life producing 65 million pounds of copper equivalent at an average all-in sustaining cost (net of credits) of $0.90 per pound.

 

Foran is also trying to turn McIlvenna Bay into the world’s first carbon-neutral copper mine by offsetting carbon emissions generated in the exploration phase...”

 

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