TORONTO, July 23, 2020 /CNW/ -
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About Foran Mining Corporation (TSXV: FOM)
Foran Mining is a zinc-copper exploration and development
company with projects located along the Flin Flon Greenstone Belt.
The McIlvenna Bay Project, Foran's flagship asset located within
the Hanson Lake District, sits just 65km from Flin Flon, Manitoba and is part of the world
class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran's ground in eastern
Saskatchewan, a distance of over
225km.
McIlvenna Bay is the largest undeveloped VMS deposit in the
region. This prolific Metallogenic Belt is host to 29 past and
present producing mines, including Hudbay Minerals Inc.'s 777 and
Lalor operations. The Company released the results of the
Pre-Feasibility Study ("PFS") on March 12,
2020. Based on the PFS, the McIlvenna Bay Project is
expected to yield a Base Case pre-tax, 7.5% net present value of
$219 million and an internal rate of
return of 23.4%, using assumed zinc, copper, gold and silver prices
of US$1.26/lb, US$2.82/lb, US$1,312/oz and US$16.30/oz. The Company filed a NI-43-101
Technical Report for the PFS on the McIlvenna Bay Deposit on SEDAR
on April 28, 2020. For more
information: https://www.foranmining.com/.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets
and clearinghouses for multiple asset classes including equities
and fixed income. Toronto Stock Exchange, TSX Venture Exchange, TSX
Alpha Exchange, The Canadian Depository for Securities, Montréal
Exchange, Canadian Derivatives Clearing Corporation,
Trayport and other TMX Group companies provide listing
markets, trading markets, clearing facilities, depository services,
technology solutions, data products and other services to the
global financial community. TMX Group is headquartered in
Toronto and operates offices
across North America (Montréal,
Calgary, Vancouver and New
York), as well as in key international markets including
London, Beijing and Singapore. For more information about TMX
Group, visit our website at www.tmx.com. Follow TMX Group on
Twitter: @TMXGroup.
SOURCE TMX Group Limited