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Foran Mining Corp Discovers New Zone of High-Grade Copper Mineralization at Balsam; Fell 14% To Near Yr Lows Monday

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Foran Mining Corporation (FOM.V), which lost 14% to near a year low 36 cents Monday, announced the results of a recently completed regional drill program on Foran's Balsam and McIlvenna Bay properties in east-central Saskatchewan.

Highlights from the Balsam Property include:

Thunder Zone: Discovery of high-grade copper mineralization with 4.08% Cu, 0.43 g/t Au and 27.0 g/t Ag over 3.66m, including 10.60% Cu, 0.70 g/t Au and 62.5 g/t Ag over 1.10m in drillhole BA-13-77 at a vertical depth of 205m. This hole was drilled to test a newly-identified, high-priority geophysical target from a recent DEEP EM survey on the property and this zone is open in multiple directions(1).

B2 Zone: 1.29% Cu, 0.28 g/t Au and 12.3 g/t Ag over 4.56m, including 3.97% Cu, 0.84 g/t Au and 39.1 g/t Ag over 0.85m in hole BA-13-74 at a vertical depth of 100m, and 8.40% Zn, 0.28 g/t Au, 12.6 g/t Ag over 3.21m, followed approximately 3m further down-hole by 6.66% Zn, 0.27 g/t Au, 10.6 g/t Ag and over 0.78m in hole BA-13-78 at vertical depths of 125 to 130m.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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