Base metals explorer and developer Foran Mining has received Ministerial approval for its McIlvenna Bay project, in Saskatchewan, concluding the environmental impact assessment (EIA) process for the copper/zinc/gold/silver project.

The Ministerial approval now enables the company to progress with addressing required conditions and securing necessary approvals to construct and operate prior to entering into full construction.

"Our team has worked hard to complete the EIA process and achieve this milestone, culminating in a favourable Ministerial decision for McIlvenna Bay.

“This accomplishment speaks volumes about the importance of the collaborative work done by our team with local communities and Indigenous peoples throughout the process,” said executive chairperson and CEO Dan Myerson. 

“As we proceed in developing this project and continue to explore and grow this world-class multi-generational district, we look forward to showcasing the potential of McIlvenna Bay as Canada's next great critical minerals champion."

Premier Scott Moe added that Saskatchewan was well-positioned to be a leader in providing the critical minerals that the world needed.

“This milestone in Foran's McIlvenna Bay project is a positive step towards increasing employment in our northern Indigenous communities and sustainably producing new critical minerals like copper in our province."

With the Ministerial approval pursuant to the Environmental Assessment Act (Saskatchewan) now granted, Foran will continue to execute on its early works campaign, which includes completing detailed engineering, procuring critical-path mining and processing equipment and various infrastructure items, installation of a permanent camp, and the continuation of the advanced exploration decline as the company prepares and reviews the project control budget in advance of full development.

The project has probable mineral reserves of 25.7-million tonnes at 2.51% copper-equivalent, containing 697-million pounds of copper and 1.4-billion pounds of zinc included in a mineral resource of 39-million indicated tonnes grading 2.04% copper equivalent for 1.0-billion pounds of copper and 1.9-billion pounds of zinc and 5-million, as well as inferred tonnes grading 1.8% copper-equivalent for 104-million pounds of copper and 282-million pounds of zinc.

The McIlvenna Bay project is designed around a newly defined reserve accessed by new development and shares geologic characteristics similar to other major mines along the Flin Flon greenstone belt.

Recent feasibility results outlined an initial phase 18-year mine life producing 65-million pounds of copper equivalent at an average all-in sustaining cost (net of credits) of $0.90/lb.