Highlights

  • Tesla Zone drilling confirms copper-zinc mineralization extends down dip and remains open for expansion.
  • H2 2025 program intersected multiple lenses including Main Lens massive sulphide with high-grade copper.
  • Early 2026 drilling at Thunder Zone shows semi-massive to massive sulphides in near-mine target area.

Foran Mining Corporation (TSX:FOM) has released results from its H2 2025 drill program at the Tesla Zone within the McIlvenna Bay Project, Saskatchewan. Hole TS-25-45w2 intersected three mineralized lenses, including a high-grade interval from the Main Lens massive sulphide: 7.7m grading 2.03% Cu, 6.08% Zn, 26.2 g/t Ag, and 0.49 g/t Au (4.07% CuEq). Additional intervals from the Lower Lens included 6.5m grading 1.05% Cu, 7.51% Zn, 56.3 g/t Ag, and 0.37 g/t Au (3.68% CuEq).

The results mark the deepest down-dip intercept achieved to date at the Tesla Zone, demonstrating ongoing mineralization potential. The H2 2025 program comprised approximately 5,518m of drilling across six holes and wedges, focusing on infill and step-out targets in the northern Tesla Zone. Drilling confirmed multiple copper and zinc-rich lenses over at least 1,350m along strike and 500-700m down dip.

Resource Estimate on Track for H2 2026
Data compilation and modelling are underway for an inaugural Tesla Zone resource estimate, expected in the second half of 2026. The estimate will integrate all results from the 2025 program, helping to define phased expansion potential across McIlvenna Bay.

Early 2026 Winter Drilling Targets Near-Mine Zones
Initial 2026 drilling at Thunder Zone, located roughly 6km from McIlvenna Bay, intercepted semi-massive to massive sulphides along a 100m step-out north of previous drilling. Assays are pending. This drilling is part of a regional winter program targeting near-mine areas, including Flinty North, to test for potential district-scale critical mineralization along the McIlvenna Bay – Tesla trend. The program anticipates approximately 3,000m of drilling before spring break-up.

Key Intersections and Geological Notes
TS-25-45w2 intersected multiple lenses, including stringer-style Cu1 Lens, Main Lens massive sulphide, and Lower Lens intervals. HG-25-01w3, wedged from a 2023 pilot hole, filled gaps near the up-dip edge, intersecting Cu1 Lens with high zinc content and Main Lens intervals up to 4.6m. Drill results indicate a localized mafic intrusion affecting grades at TS-25-45, with mineralization continuing down dip beyond the intrusion.

Share Performance
Foran Mining Corp (FOM) rose 1.54% to 7.26 CAD on 19 Feb 2026.

With ongoing drilling and upcoming resource estimates, Foran Mining continues to evaluate expansion potential across the McIlvenna Bay district. H2 2025 results highlight deep, copper-zinc mineralization at Tesla Zone, while early 2026 programs test additional near-mine targets.

FAQs

Q1. What were the key drill results from the H2 2025 Tesla Zone program?
Hole TS-25-45w2 intersected three lenses, including Main Lens massive sulphide grading 2.03% Cu, 6.08% Zn, 26.2 g/t Ag, and 0.49 g/t Au (4.07% CuEq). Lower Lens intervals included 6.5m grading 1.05% Cu, 7.51% Zn, 56.3 g/t Ag, and 0.37 g/t Au (3.68% CuEq).

Q2. When is the inaugural resource estimate for the Tesla Zone expected?
The inaugural resource estimate incorporating all 2025 drilling results is expected during the second half of 2026.

Q3. What are the objectives of the early 2026 drilling program?
The 2026 regional winter drilling focuses on near-mine targets, including Thunder Zone and Flinty North, testing expansion potential along the McIlvenna Bay – Tesla trend, with assays pending.