Foran Mining Corporation has engaged an international independent mining consulting firm Micon International Limited. They will conduct a detailed technical review of the Preliminary Economic Assessment completed on Foran’s McIlvenna Bay project 65 kilometers west of Flin Flon.
The review will lay out budgetary options for development in terms of timing and costs, putting the Company in a better position to choose the most appropriate path forward to completing Preliminary Feasibility Studies.
The Preliminary Economic Assessment was completed by JDS Energy and Mining in January of 2015 and envisioned a five thousand tonne per day conventional underground mining operation utilizing longhole stoping and cemented paste backfill. The mine was expected to have a 14 year life with a stand alone concentrator adjacent to the McIlvenna Bay mine.