Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) Reports Steady Progress at McIlvenna Bay Project

3 min read | October 24, 2024 06:21 AM EDT | By Team Kalkine Media

Highlights:

  • Zero Lost Time injuries reported year-to-date, ensuring strong safety performance.
  • Over 2,900 m³ of concrete poured, surpassing planned targets for the project.
  • Underground development reaches 1,375 meters, with commercial production set for H1 2026.

Foran Mining Corporation is making significant strides in its McIlvenna Bay project, located in Saskatchewan, Canada. As of the end of September 2024, the company has reported a series of key achievements that underscore its commitment to safety, efficiency, and timely project execution.

One of the most notable aspects of Foran's progress is its unwavering focus on safety. With a workforce comprising approximately 141 employees and over 330 contractors on-site, the company has maintained a commendable safety record, reporting no Lost Time injuries year-to-date. This emphasis on safety not only protects the workforce but also enhances productivity, creating a positive environment conducive to development.

The construction activities at McIlvenna Bay have also made remarkable headway. The completion of concrete pouring for the semi-autogenous grinding (SAG) and ball mill foundations is a critical milestone. The project has successfully poured approximately 2,911 m³ of concrete, significantly exceeding its year-to-date plan. This accomplishment reflects the diligent efforts of Foran’s team and contractors, ensuring that the foundational elements necessary for processing infrastructure are solidly in place.

In addition to foundational work, the project has seen the arrival of key equipment, including a 275-tonne crane and essential components for the SAG and ball mill. With structural steel and regrind mills in transit, and the concentrate filter press and pebble crusher undergoing final assembly or testing, the logistical aspects of the project are being efficiently managed. This proactive approach to equipment mobilization is vital for maintaining the construction timeline.

Further enhancing operational capabilities, Foran has fully commissioned its camp, which now accommodates approximately 450 personnel. The commissioning of the water and sewage plants, along with the ongoing concrete work for the truck shop and earthworks for the water containment pond, demonstrates a comprehensive approach to supporting both the workforce and the overall project infrastructure.

Engineering efforts are progressing well, with detailed engineering now approximately 78% complete. Key activities planned for the remainder of 2024 and early 2025 include the construction of the mill foundation, process and paste plant buildings, sewage and potable water treatment plants, roads, ponds, and a truck shop. These tasks are tracking at around 97% completion, illustrating Foran’s commitment to maintaining a clear path towards development milestones.

Moreover, underground development has reached a total of approximately 1,375 meters, with 1,196 meters completed year-to-date. The decline is currently extending 10 vertical meters below the 120-meter level, positioning the project well for the next phases of underground mining. Surface construction is now about 14% complete, aligning with the overall schedule, which anticipates commercial production to commence in the first half of 2026.

 

 


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