Expansion Potential Builds with New Tesla Zone Drill Results

2025-09-04

TSX - Toronto Stock Exchange · Copper · Gold · Silver · Iron · Molybdenum · Nickel · Canada

Canada NewsWire

All 2025 Tesla Drill Holes Successfully Hit Mineralization

Results Highlight Growing Precious Metals Opportunity

Tesla Zone Defined Over 1.35km Strike, Remains Open Down-Dip and Along Strike

Summer Program Focuses on Expanding Tesla Zone Footprint

VANCOUVER, BC , Sept. 4, 2025 /CNW/ - Foran Mining Corporation (TSX: FOM) (OTCQX: FMCXF) ("Foran" or the "Company") is pleased to announce results from the final 15 holes drilled as part of its 2025 winter-spring drill program at the Tesla and Bridge Zones, part of the Company's 100%-owned McIlvenna Bay Project located in east-central Saskatchewan .

Key Highlights:

Drilling confirms mineralization across multiple areas of the Tesla Zone . Foran completed almost 28,500 metres of drilling across 32 holes at the Tesla and Bridge Zones during the winter-spring drill program. All holes successfully intersected copper- and/or zinc-rich mineralization, with several results also returning notable gold and silver values. Highlight intercepts from the 15 holes released today include : 6.9m grading 2.16% Cu, 3.72% Zn, 29.3 g/t Ag and 0.62 g/t Au (3.58% CuEq) from TS-25-38w2 17.1m grading 2.07% Cu, 0.67% Zn, 27.5 g/t Ag and 0.37 g/t Au (2.43% CuEq) from TS-25-38w2 8.1m grading 1.86% Cu, 11.51% Zn, 80.9 g/t Ag and 1.68 g/t Au (6.49% CuEq) from TS-25-37w2 19.9m grading 0.56% Cu, 7.89% Zn, 40.2 g/t Ag and 0.29 g/t Au (3.23% CuEq) from TS-25-40w2 16.5m grading 2.20% Cu, 1.39% Zn, 11.5 g/t Ag and 0.03 g/t Au (2.49% CuEq) from BZ-25-02w1

Precious metals opportunity emerging. Elevated gold and silver grades have been observed in several holes in the central part of the Tesla Zone. Highlight intercepts from this target include: 3.3m grading 3.42% Cu, 8.72% Zn, 87.8 g/t Ag and 3.12 g/t Au (7.94% CuEq) from within TS-25-37w2's 8.1m intersection above, which included one of the highest single-sample gold assay grades received to date, with 0.5m grading 13.89 g/t Au, 107.0 g/t Ag, 4.15% Cu and 7.20% Zn (14.50% CuEq) 7.0m grading 0.06% Cu, 0.02% Zn, 85.3 g/t Ag and 0.83 g/t Au (0.94% CuEq), including 2.1m grading 0.10% Cu, 0.02% Zn, 141.0 g/t Ag and 1.76 g/t Au (1.77% CuEq) from TS-25-37w2

Tesla Zone Demonstrates Significant Scale and Remains Open . Drilling has now traced Tesla's mineralized zone over 1.35 km along strike and up to 700 metres down dip, pointing to a large and vertically extensive system that remains open down-dip and along strike in both directions. Summer drilling now underway . Two drills are active at Tesla — one targeting the down-dip expansion of the Lower Lens, and the other testing high-grade continuity in the northern Main Lens area. Results expected to support maiden resource estimate . Mineralization intersected throughout the 2025 program are expected to positively contribute to the Company's plans to prepare a first resource estimate for the Tesla Zone.

Erin Carswell , Foran's Vice President, Exploration, commented: " With results from the final 15 drill holes returned from the Winter-Spring resource drilling program at the Tesla Zone, we have achieved excellent drill coverage and an even better understanding of the mineralization, its zonation and where significant potential remains to expand the zone in advance of a future maiden mineral resource estimate. In particular, we are seeing copper and gold grades within the Main and Lower Lenses increasing down-dip, and thick intervals of copper mineralization continuing towards the south of the target. Significant zinc and silver grades remain encouraging as always, and even the highest up-dip holes on the margin of the zone continue to intersect mineralization. A focused summer drill program is underway as we advance resource planning, with Tesla's scale and consistency continuing to support the long-term potential for phased expansion opportunities at McIlvenna Bay."

Drilling resumed at the Tesla Zone in late July, with two rigs now active. One drill is targeting the down-dip expansion potential of the Lower Tesla Zone, following up on the recently identified electromagnetic ("EM") conductor plate that extends for approximately 650m along strike across the Lower Tesla Zone (see Foran's June 17, 2025 news release). The second rig is testing the continuity of mineralization within the northern part of the Tesla Main Lens through a series of infill holes collared from the northeast shore of the lake.

[](https://mma.prnewswire.com/media/2764060/Foran_Mining_Corporation_Expansion_Potential_Builds_with_New_Tes.html)

2025 Winter Drill Program

Foran's 2025 ice-based winter drill program consisted of approximately 28,494m of drilling completed at the Tesla and Bridge zones across 32 drillholes and wedges, along with approximately 3,941m of drilling focused on several regional targets near the McIlvenna Bay Deposit for a total of approximately 32,435m of drilling for the winter program.

To date, Foran's drilling has defined multiple lenses of zinc-rich and/or copper-rich mineralization at the Tesla Zone and the 2025 drilling has expanded the zone to at least 1,350m along strike and 500- 700m in the down dip direction. The winter program predominantly aimed to tighten up drill spacing across the Tesla and Bridge zones, utilizing wedging and directional drilling technologies to maintain the efficiency and precision of the drilling. These holes have significantly increased the confidence in the continuity of the mineralization across the Tesla and Bridge zones.

A plan map highlighting the locations of the final 15 drill holes from the program are provided in Figure 1 above, and a longitudinal view of the Tesla Main Lens is provided in Figure 2 below that demonstrates the locations of the new drill holes relative to prior drilling pierce points. Detailed descriptions of the newly released holes are provided in subsequent sections, along with a series of geological cross sections to put these new holes in context. A table of assay composites for the drill holes is provided in Table 1.

[](https://mma.prnewswire.com/media/2764061/Foran_Mining_Corporation_Expansion_Potential_Builds_with_New_Tes.html)

Drilling Highlights:

The remaining drill holes from the 2025 winter drill program, included in this release, were drilled in three main sectors of the Tesla Zone as shown in Figure 2 above and described below:

Main Trend – Area B: An additional four holes targeted a large gap in the drilling at mid-elevations in the north-central part of Tesla. These holes returned broad intersections from multiple zones through Tesla which also contained elevated gold assays (TS-25-37w2 and 38w2). Additional drilling will be required in this area to confirm the extent and controls on the elevated gold mineralization found in this sector of the Tesla Zone. Main Trend – Area A: Six infill drill holes successfully bolstered the zone dominantly focused on gaps in the drilling near the up dip and down dip portions of the Tesla Zone. Drilling returned several significant intersections, especially in the down dip direction (TS-25-40w2). Southern Tesla: Five holes drilled near the southern margin of Tesla infilled some of the larger gaps in the current drill hole spacing and successfully expanded the limit of the Cu2 Lens to the south (TS-25-41w2).

Brief descriptions of the results of each of the drill holes are provided below by sector along with a series of geological cross sections that show the relationships between these holes and the existing drilling at Tesla. A table of significant assays results from the drilling are also provided in Table 1 below which provides the detailed composited intervals along with their interpreted lens association within the Tesla Zone.

Main Trend – Area B

Four holes were drilled in Area B (Figure 2) near the northern margin of the Main Trend of the Tesla Zone, targeting a large gap in the drilling at mid elevations (Figure 2) with drill holes TS-25-38w1, -38w2 and -39w2, along with drill hole TS-25-37w2, which provided an additional down dip test of an area of anomalously thickened mineralization identified in the central Tesla Zone during the winter drill program. Several drill holes were completed in this area during the early part of the winter program and drilling in this central core area has provided some of the most significant grade-thickness intersections returned from the Tesla drilling to date (see Foran's March 19, 2025 and May 7, 2025 releases for additional descriptions and Figure 4 below). Recent drilling has also identified a trend of elevated precious metal values across multiple lenses in several holes that defines a roughly down dip trend that correlates with the trend of increased grade-thickness in the copper data. As shown in Figure 3 below, this trend is reflected in numerous drill holes, including TS-25-37w1 and -37w2, TS-25-38w1 and -38w2, as well as TS-25-36w2 and -36w3, and appears to be oriented perpendicular to the overall plunge of the Tesla mineralization. This may suggest that the elevated gold and silver mineralization may be related to the deformation responsible for the thickened zones of mineralization in this part of Tesla. Additional drilling is planned for this area during the summer 2025 program targeting the recently identified lower EM conductor plate.

[](https://mma.prnewswire.com/media/2764062/Foran_Mining_Corporation_Expansion_Potential_Builds_with_New_Tes.html)

TS-25-37w2: TS-25-37w2 was drilled as an additional down dip wedge from the previously released parent hole TS-25-37 and a follow up of previously released wedge TS-25-37w1. TS-25-37w2 intersected the upper felsic package at Tesla approximately 75m further down dip from the intersection in TS-25-37w1, which had returned a highlight intercept of 69.8m from the Main Lens massive to semi-massive sulphide grading 0.46% Cu, 9.77% Zn, 16.6 g/t Ag and 0.24 g/t Au (see Foran's May 7, 2025 news release). Drill hole TS-25-37w2 intersected similar mineralized horizons as previous holes and although these lenses were thinner at this elevation as the zones appear to tail out down dip, the assay grades were higher. The zones in this hole also contained significant anomalous precious mineral concentrations (both silver and gold) that were not present in the previous drilling. TS-25-37w2 returned two intervals of the Main Lens massive sulphide grading 1.86% Cu, 11.51% Zn, 80.9 g/t and 1.68 g/t Au over 8.1m , including a 3.3m interval grading 3.42% Cu, 8.72% Zn, 87.8 g/t Ag and 3.12 g/t Au, followed downhole by a second 3.2m interval grading 0.05% Cu, 4.79% Zn, 29.2 g/t Ag and 0.13 g/t Au. The high-grade silver and gold results are notably anomalous in this drill hole and indicate that his sector of the Zone remains an important area for additional follow up as the resource drilling continues.

A geological cross section is provided in Figure 4, showing the intersections in TS-25-37w2 to the previous drilling on this section and the surrounding drill holes in the upper felsic package at Tesla.

[](https://mma.prnewswire.com/media/2764063/Foran_Mining_Corporation_Expansion_Potential_Builds_with_New_Tes.html)

TS-25-38w1 / TS-25-38w2: TS-25-38w1 was drilled as a wedge from the previously released TS-25-38, which was oriented to the south and up dip from the pilot hole. TS-25-38w1 intersected the Tesla Zone approximately 50m to the south and 50m further up dip than the pilot hole and returned several narrow zones of mineralization where they appear to be pinching out in the up-dip direction. The hole returned a narrow intersection of stringer-style mineralization from the Cu1 Lens grading 0.61% Cu, 0.31% Zn, 15.0 g/t Ag and 0.21 g/t Au over 1.0m , followed by two narrow intervals of semi-massive sulphides attributed to the Main Lens grading 0.86% Cu, 8.31% Zn, 44.4 g/t Ag and 1.10 g/t Au over 1.0m followed by a second 0.8m interval grading 0.02% Cu, 3.19% Zn, 14.5 g/t Ag and 0.05 g/t Au.

TS-25-38w2 was also wedged from the TS-25-38 pilot hole but was directed to the south where it intersected the Tesla Zone almost 100m further south along strike from TS-25-38. This intersection is closer to the central part of the Tesla Zone where the mineralization is much more robust with the hole intersecting substantially thicker zones of higher-grade mineralization compared to TS-25-38w1. The results from TS-25-38w2 are highlighted by a 6.9m interval of the Main Lens massive sulphide grading 2.16% Cu, 3.72% Zn, 29.3 g/t Ag and 0.62 g/t Au, followed directly downhole by a 17.1m interval of stringer-style mineralization attributed to the underlying Cu2 Lens grading 2.07% Cu, 0.67% Zn, 27.5 g/t Ag and 0.37 g/t Au which included a 6.9m interval of higher grade mineralization grading 3.19% Cu, 0.93% Zn, 48.8 g/t Ag and 0.57 g/t Au.

TS-25-39w2: TS-25-39w2 intersected the Tesla horizon approximately 100m up dip from the previously released intersection from TS-25-39w1 (see Foran's June 17, 2025 news release) and 200m down dip from the intersection of TS-25-38w1 discussed above. As is evident from Figure 5, the upper felsic package is intruded by a mafic sill at this location, that squeezes out the prospective felsic stratigraphy down dip resulting in narrower lenses of mineralization in this sector of the Tesla Zone. This appears to be a local phenomenon that is seen over 100- 200m before the intrusion thins and the zones of mineralization thicken again. TS-25-39w2 returned a narrow, combined interval of the Cu1 and Main Lens over 1.6m , consisting of 1.1m grading 1.09% Cu, 2.18% Zn, 92.9 g/t Ag from Cu1 and 0.05 g/t Au followed by a 0.5m grading 0.22% Cu, 19.00% Zn, 88.5 g/t Ag and 0.05 g/t Au from the Main Lens.

A geological cross section is provided in Figure 5 below, showing the intersections from TS-25-39w2 and TS-25-38w1 relative to the surrounding drill holes in the upper felsic package at Tesla.

[](https://mma.prnewswire.com/media/2764064/Foran_Mining_Corporation_Expansion_Potential_Builds_with_New_Tes.html)

Main Trend – Area A

The results of six additional intersections from Area A (Figure 2) near the southern margin of the Main Trend at Tesla are also included in this release which targeted the up-and downdip areas which have seen limited previous drilling. All holes intersected the expected zones of mineralization, with narrower intersections at higher elevations that thicken down dip into the heart of the Tesla Zone and confirm that mineralization extends in multiple lenses over at least 700m in the down dip direction. Drill holes TS-25-44, -44w1 and -43 targeted the up-dip areas at higher elevations, with TS-25-43w1, -040w1 and -40w2 targeting the deeper parts of the Tesla system where thicker zones of mineralization were generally intersected.

TS-25-44 / TS-25-44w1: Drill hole TS-25-44 was drilled from the footwall side of Tesla and therefore intersected the mineralized zones in reverse order, providing one of the furthest up dip intersections into the Tesla Zone. At this elevation, the hole intersected the Cu2 Lens at approximately 932m with a 2.1m interval of stringer-style and disseminated pyrite with lesser chalcopyrite and sphalerite, that approached semi-massive locally, hosted in sericite and/or chlorite altered felsic rocks grading 0.52% Cu, 0.11% Zn, 3.9 g/t Ag and 0.90 g/t Au. This was followed approximately 81m downhole by another interval of semi-massive sulphide attributed to the Main Lens that graded 1.02% Cu, 3.24% Zn, 9.4 g/t Ag and 0.38 g/t Au over 1.5m , including a 0.7m interval grading 1.60% Cu, 6.42% Zn, 13.7 g/t and 0.63 g/t, which was followed directly downhole by a 3.0m interval of overlying Cu1 Lens grading 0.41% Cu, 0.41% Zn, 1.8 g/t Ag and 0.10 g/t Au.

The intersections in TS-25-44 were followed up by a second drill hole that was wedged from the parent at 644m and intersected the Tesla mineralization approximately 40- 50m further down dip. At this location, TS-25-44w1 intersected broader zones of mineralization closer to the heart of the Tesla Zone. The hole initially intersected a 14m interval of the underlying Cu2 Lens that graded 0.89% Cu, 0.06% Zn, 9.3 g/t Ag and 0.50 g/t Au, including a 5.0m interval grading 1.53% Cu, 0.14% Zn, 15.7 g/t Ag and 0.46 g/t Au which was followed downhole by a 2.3m semi-massive interval from the Main Lens grading 1.38% Cu, 1.34% Zn, 32.4 g/t Ag and 0.27 g/t Au. Approximately 17m downhole, TS-25-44w1 then intersected two intervals attributed to the Cu1 Lens, including 7.0m grading 0.65% Cu, 0.37% Zn, 17.4 g/t Ag and 0.28 g/t Au followed by a 3.0m interval 0.51% Cu, 0.18% Zn, 18.3 g/t Ag and 0.13 g/t Au.

TS-25-43 / TS-25-43w1: Drill hole TS-25-43 intersected the upper part of the central Tesla Zone approximately 100m further downdip and 50m to the south of TS-25-44w1 described above. Drill hole TS-25-43 was drilled from the lake ice to provide an orthogonal intersection into the zones where it returned a broad contiguous mineralized interval of 15.1m from the combined Main and underlying Cu2 Lens, consisting of a 6.4m interval from the Main Lens massive sulphide grading 0.59% Cu, 4.96% Zn, 24.1 g/t Ag and 0.22 g/t Au followed directly downhole by an 8.7m interval of the Cu2 Lens grading 0.65% Cu, 1.36% Zn, 20.0 g/t Ag and 0.26 g/t Au.

Drill hole TS-25-43w1 was drilled as a follow up hole, wedged from the pilot hole at 677m and oriented down dip and to the south where it intersected the Tesla mineralization approximately 125m south and 100m down dip of TS-25-43. TS-25-43w1 intersected a contiguous 25.9m interval of mineralization that is made up of the three most prevalent lenses at Tesla. The hole returned a 0.9m interval from the upper Cu1 Lens grading 1.38% Cu, 1.60% Zn, 37.4 g/t Ag and 0.003 g/t Au, followed by a 7.9m interval from the Main Lens massive sulphide grading 0.36% Cu, 10.44% Zn, 21.8 g/t Ag and 0.04 g/t Au and a 17.1m interval from the Cu2 Lens grading 1.41% Cu, 0.95% Zn, 13.4 g/t Ag and 0.14 g/t Au.

TS-25-40w1 / TS-25-40w2: Drill hole TS-25-40w1 was drilled as a follow up wedge from the previously released TS-25-40 (Foran June 17, 2025 news release) where it intersected the Tesla Zone approximately 125m north of the pilot hole. The hole also successfully intersected the Tesla mineralization approximately 200m downdip and 100m south of TS-25-43w1 discussed above, where the mineralized zones appear to be coalescing as they trend down dip. TS-25-40w1 returned a 3.3m interval of the Main Lens massive sulphide grading 0.56% Cu, 11.36% Zn, 35.0 g/t Ag and 0.24 g/t Au followed by a 2.9m interval of the underlying Cu2 Lens grading 0.99% Cu, 2.25% Zn, 26.5 g/t Ag and 0.02 g/t Au.

TS-25-40w2 was drilled as an additional wedge from TS-25-40 designed to fill a large gap in the drilling down dip. TS-25-40w2 intersected the Tesla Zone approximately 100m down dip and 50m to the north of the intersection from TS-25-40w1 discussed above. At this location the mineralization appears to be thickening again, returning a 22.2m contiguous interval of mineralization attributed to the Cu1 and Main Lens. TS-25-40w2 intersected a 2.3m interval of stringer mineralization from the Cu1 Lens grading 1.17% Cu, 0.91% Zn, 27.4 g/t Ag and 0.22 g/t Au followed by a 19.9m interval grading 0.56% Cu, 7.89% Zn, 40.2 g/t Ag and 0.29 g/t Au from the Main Lens massive sulphide. The thickness of the mineralized intersections here is encouraging, as it appears to suggest that good potential remains to continue to expand the Tesla mineralization down dip in this sector of the deposit.

A geological cross section is provided in Figure 6, showing the intersection from TS-25-40w2 described above relative to the surrounding drilling.

[](https://mma.prnewswire.com/media/2764065/Foran_Mining_Corporation_Expansion_Potential_Builds_with_New_Tes.html)

Southern Sector

The results of five additional drill holes are included in this release from the southern sector of Tesla and the transition into the Bridge Zone. These holes focused on several large gaps in the previous drilling targeting both up (TS-25-34w2 and -34w3) and down dip areas (TS-25-34w4 and BZ-25-02w1) of the Tesla Zone, along with one drill hole that was completed near the very southern edge of the Tesla drilling which successfully intersected significant mineralization and expanded the strike length of Tesla to the south (TS-25-41w2).