Tesla Zone Drilling Returns Highest Grade-Thickness Intercept to Date
Press Release
Vancouver, BC (March 19, 2025) – Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) (“Foran” or the “Company”) is pleased to announce additional results from the ongoing 2025 winter drill program at the Company’s 100%-owned McIlvenna Bay Project in east-central Saskatchewan.
Click Here to Watch Erin Carswell, Foran’s VP Exploration, discuss the Company’s latest exploration results.
The first infill drill hole of the winter drill program at Tesla has returned robust intervals from the central part of the Tesla Zone, with drill hole TS-25-37 successfully intersecting multiple zones of almost-continuous mineralization over an unprecedented 143m of core length. These intercepts correlate well with previous drilling but have yielded thicker than average mineralized intervals, underscoring Tesla’s expanding growth potential as drilling further delineates the Zone. Winter drilling continues with seven drill rigs focused on the Tesla infill program, one drill targeting the Bridge Zone and one additional rig testing high priority regional exploration targets in the vicinity of McIlvenna Bay.
Key Highlights
Drill hole TS-25-37 intersected multiple zones of massive and semi-massive sulphides and associated stringer and breccia zones from the heart of the Tesla Zone:
⦁ The intercepts in TS-25-37 represent the most significant mineralized intersection at Tesla by grade-thickness to date.
⦁ Significant assay results from Hole TS-25-37:
o 52.6m grading 1.75% Cu, 2.04% Zn, 22.0 g/t Ag and 0.41 g/t Au (2.54% CuEq), including 10.1m grading 3.17% Cu, 0.44% Zn, 36.1 g/t Ag and 1.04 g/t Au (3.79% CuEq); and 8.7m grading 1.68% Cu, 9.81% Zn, 21.8 g/t Ag and 0.15 g/t Au (4.65% CuEq)
o 37.5m grading 0.41% Cu, 7.76% Zn, 25.1 g/t Ag and 0.20 g/t Au (2.93% CuEq), including
24.9m grading 0.28% Cu, 10.62% Zn, 28.3 g/t Ag and 0.15 g/t Au (3.65% CuEq);
⦁ 22.3m grading 0.92% Cu, 0.16% Zn, 16.5 g/t Ag and 0.23 g/t Au (1.10% CuEq), including 5.5m grading 1.49% Cu, 0.30% Zn, 20.9 g/t Ag and 0.29 g/t Au (1.71% CuEq)
⦁ Hole TS-25-37w1 is located 65m down-dip of TS-25-37 where it also intersected similar thickened lenses of massive and semi-massive sulphides and associated stringer and breccia zones. Assays are pending for this hole and further analysis is required to confirm the significance of any mineralization therein.
Erin Carswell, Foran’s Vice President, Exploration, commented: “Tesla has delivered another stunning surprise this winter, revealing an exceptionally thick intersection in the central part of the zone. The cumulative thickness of mineralization in hole TS-25-37 is twice that of our previous best intercept, significantly expanding a zone of high-grade copper mineralization that was previously discovered in Hole TS-23-10. Additionally, a down-dip wedge hole has identified another broad interval of sulphides (assays pending) that should further strengthen the lenses. Accurately assessing the controls on this 143m thick package of mineralized rock will require further drilling, most likely from the footwall side of Tesla after ice melt. Most excitingly, it is an indication of the upside that still remains at Tesla and Bridge as we continue working towards our maiden resource estimate.”
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