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Canada
McIlvenna Bay Project

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 Location:
61 km W from Flin Flon, Saskatchewan, Canada

  Project Contacts:
PO Box 26028 RPO Lawson Heights
Saskatoon
Saskatchewan, Canada
S7K 8C1
Phone  ...  Subscription required
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  • Overview
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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Copper
  • Zinc
  • Lead
  • Gold
  • Silver
Mining Method
  • Sub-level stoping
  • Longhole stoping
  • Transverse stoping
  • Avoca
  • Paste backfill
Mine Life20 years (as of Jan 1, 2022)
March 16, 2022 - To date, Foran has completed work on the boxcut, ground support, as well as the blasting and excavation of the first 10m of planned advancement on the exploration decline. The construction and placement of the ore and waste pad is 95% complete and development of the containment pond is 40% complete. Foran has also re-energized the 1.2 MW existing distribution line and commissioned a temporary workshop that will support the ongoing exploration decline program.
Latest NewsForan Announces Additional Drill Results from Tesla     March 30, 2023


Owners

Source: p. 66
CompanyInterestOwnership
Foran Mining Corp. 100 % Direct
Foran owns 100% of the McIlvenna Bay property.

Contractors

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Deposit Type

  • VMS
  • Breccia pipe / Stockwork


Summary:

McIlvenna Bay is a VMS deposit consisting of structurally modified stratiform volcanogenic polymetallic massive sulphide mineralization and associated stringer-style mineralization. The massive to semi-massive sulphides contain copper and/or zinc, with lower concentrations of silver, gold, and lead. The stringer-style mineralization generally contains elevated copper and gold. The deposit has undergone moderate to strong deformation and upper greenschist to possibly lower amphibolite facies metamorphism. The sulphide lenses are now attenuated down the plunge to the northwest.

The McIlvenna Bay Deposit includes five separate zones and two styles of mineralization that are mineralogically and texturally distinct and typical of VMS deposits.

• Massive to semi-massive sulphide mineralization in the Main Lens and Lens 3.
• Stockwork-style sulphide mineralization in CSZ directly beneath the Main Lens.
• Two other small lenses of stockwork-style mineralization:
- The Stringer Zone, which is located between the Main Lens and Lens 3.
- The Copper Stockwork Footwall Zone (FW), which occurs as a separate lens underneath the CSZ for approximately 150 m of strike length and could represent a fault offset and repetition of the Main Lens and CSZ.

The Main Lens at McIlvenna Bay is a large-massive to semi-massive sulphide horizon containing a metal zonation consisting of Cu- and Au-rich material near the upper plunge line of the deposit whi ........


Mining Methods

  • Sub-level stoping
  • Longhole stoping
  • Transverse stoping
  • Avoca
  • Paste backfill


Summary:

Underground (UG) access to the McIlvenna Bay Deposit will initially be via a ramp from surface. A 2.43 m × 7.32 m rectangular shaft will also be constructed, commencing in Year 5, to reduce the truck haulage distances and the time required for the workforce to access the lower levels. At the time of this report, Foran is constructing the portal and developing a ramp to the 0090 Level, along with a bulk sample and an exploration/diamond drill drift on the 0090 Level. This is called the Advance Development and Exploration Program (ADEX). The mine development and life of mine plan presented in the FS will commence at the completion of the ADEX program.

Thirty-five levels, spaced at 30 m intervals sill to sill, are planned for the McIlvenna Bay Deposit. Lateral development will be concentrated in the first four years to establish the initial production areas, UG infrastructure, and the permanent ventilation system.

The McIlvenna Bay Deposit will be extracted using conventional longhole mining methods including sublevel transverse and longitudinal stoping and Avoca stoping. The ore body geometry and rock characteristics indicate these mining methods are appropriate for safe and efficient production. Ore will be drilled using a top hammer drill, blasted, and then mucked using battery electric (BEV) load-haul-dump (LHD) vehicles.

Ore will be hauled to surface using BEV haul trucks early in the mine life and will be hauled to the rock breaker stati ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. Annual
Copper Metal in copper conc. M lbs 39
Zinc Metal in zinc concentrate M lbs  ......  Subscription required
Gold Metal in concentrate koz  ......  Subscription required
Silver Metal in copper conc. koz  ......  Subscription required

Operational Metrics:

Metrics
Daily mining rate  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at February 28, 2022:
Mineral Resources for the McIlvenna Bay Deposit, Reported at an NSR of US$ 60/t.

CategoryTonnage CommodityGradeContained Metal
Indicated 39.06 Mt Copper 1.2 % 1,033 M lbs
Indicated 39.06 Mt Zinc 2.16 % 1,863 M lbs
Indicated 39.06 Mt Lead 0.14 % 119 M lbs
Indicated 39.06 Mt Gold 0.41 g/t 0.51 M oz
Indicated 39.06 Mt Silver 14.4 g/t 18.1 M oz
Indicated 39.06 Mt Copper Equivalent 2.04 %
Inferred 5.04 Mt Copper 0.94 % 105 M lbs
Inferred 5.04 Mt Zinc 2.56 % 284 M lbs
Inferred 5.04 Mt Lead 0.17 % 19 M lbs
Inferred 5.04 Mt Gold 0.27 g/t 0.04 M oz
Inferred 5.04 Mt Silver 15.9 g/t 2.6 M oz
Inferred 5.04 Mt Copper Equivalent 1.77 %

Commodity Production Costs:

CommodityUnitsAverage
All-in sustaining costs (AISC) Copper USD  ......  Subscription required *†
C1 cash costs Copper USD  ......  Subscription required *†
Assumed price Zinc USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
† Net of By-Product.
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Operating Costs:

Units2022
UG mining costs ($/t milled) CAD 41.3 *
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 615.9
Refining costs $M CAD  ......  Subscription required
Transportation (haulage) costs $M CAD 242.7
G&A costs $M CAD 174.2
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
EBITDA (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 7% $M CAD  ......  Subscription required
After-tax NPV @ 7% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Pipelines
TypeMaterialDiameterLengthDescription


Proposed Heavy Mobile Equipment:
HME TypeModelSizeQuantityRef. Date
ANFO Loader ....................... Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Jul 25, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Jul 25, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Jul 25, 2022
....................... Subscription required ....................... Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Jul 25, 2022
....................... Subscription required ....................... Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Jul 25, 2022
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 6, 2022
....................... Subscription required ....................... Subscription required Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required Subscription required Feb 28, 2022
....................... Subscription required ....................... Subscription required Subscription required Mar 1, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Jun 6, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 6, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Other 2022
Preliminary Economic Assessment 2022
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
Corporate Presentation 2016
Subscription required - Subscription is required.

News:

NewsDate
Foran Announces Additional Drill Results from Tesla March 30, 2023
Foran Announces Additional Drill Results from Tesla March 6, 2023

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