Foran’s ambitious net zero plans for McIlvenna Bay attract investors

In July, the company inked a deal with Sandvik to supply it with an electric battery underground vehicle fleet. A month later it announced an investment from a major Canadian pension fund.

It has also put out a flurry of positive drill results over the course of the year. In June the company reported a near-mine discovery at its Tesla zone, where it encountered 200 metres of continuous massive and disseminated sulphides with 12.4 metres at 1.8% copper equivalent, including 1.2 metres at 8.3% copper equivalent and 5.4 metres at 3.3% copper equivalent among its initial assay results. Also in June, it reported positive assay results from its Bigstone and Marconi sites, including an intercept of 21 metres at 3.6 % copper.

Myerson said the company has chosen to be aggressive with continued exploration to build its long-term project pipeline. “We’re trying to create the next copper mining camp in Canada. So to do that you have to start exploration now, and we’ve ramped that up,” he said.