McIlvenna Bay project site. Credit: Foran Mining
Foran Mining (TSX: FOM) says it has secured up to C$70 million in Saskatchewan provincial tax credits to support the development of its McIlvenna Bay project in the Flin Flon greenstone belt.
In a press release Thursday, Foran confirmed that its polymetallic project officially became part of Saskatchewan’s Critical Minerals Processing Investment Incentive (CMPII) program. Launched a year go, the CMPII represents one of two new government initiatives aimed at boosting the production of 11 designated critical minerals, including copper and zinc, within the province.
The McIlvenna Bay project hosts the region’s largest massive sulphide deposit, containing 39 million indicated tonnes grading 1.2% copper and 2.16% zinc, containing 1 billion lb. of copper and 1.9 billion lb. of zinc. About 70% of the contained metals are probable mineral reserves.
The…
