Foran's focus is the Hanson Lake VMS District in east-central Saskatchewan, Canada. Our flagship asset is the McIlvenna Bay deposit. Foran released the results of a pre-feasibility study on March 12, 2020 on McIlvenna Bay and released an updated resource estimate on May 28, 2019.
The Hanson Lake District is an emerging base metal camp similar to nearby Flin Flon and Snow Lake. The formation of clusters of massive sulphide deposits is a common characteristic of VMS belts worldwide, which make them attractive areas for exploration and development. Foran is focused on advancing and developing district scale mining operations in the Hanson Lake area, starting with the large tonnage McIlvenna Bay deposit.
Exploration in the area continues to identify new exploration targets and enhance both historic satellite deposits and mineral occurrences which could provide future mill feed to an operation at McIlvenna Bay.
The Hanson Lake District is situated in Canada's top mining jurisdiction, Saskatchewan. The Fraser Institute conducts a survey each year, asking mining industry executives about their views as to the top jurisdictions within which to operate globally. Saskatchewan regularly places in the top of the rankings, most recently in 2018, as number three globally and the top in Canada.
The McIlvenna Bay deposit is a one hour drive from the well-established mining centre of Flin Flon. The region has excellent infrastructure, including highways and secondary roads, access to low-cost hydroelectric power and a railhead.