06:21 AM EDT, 09/19/2024 (MT Newswires) -- Foran Mining ( FMCXF ) on Thursday provided an update on its Regional Exploration Strategy across its properties in Saskatchewan, Canada.

Foran said it is advancing high-priority anomalies to unlock further potential discoveries across its expansive land package. The company added its near 8,000m Summer-Fall drill program is "progressing well, with a robust pipeline of targets advancing through exploration".

Among key highlights: Foran said it is leveraging its success from the McIlvenna Bay Deposit-Tesla Zone mineralization corridor to drive exploration efforts and pursue new discoveries across the Properties.

Foran added that in order "to enhance targeting precision", it has completed over 17,800 line-kilometres of cutting-edge airborne geophysical surveys during 2023-2024.

Also, Foran said permits have been secured to initiate an airborne electromagnetic survey over the Denare West property, targeting new exploration potential along strike from McIlvenna Bay. Foran added its regional exploration strategy is "aiming to unlock significant opportunities, as new data and exploration insights shape the next phase of targeted drilling across certain of the Properties".

Erin Carswell, Foran's vice president, Exploration, said: Our "approach underscores the prolific nature of our land package and the various opportunities for growth. Our sustained efforts, backed by advanced high-quality airborne datasets, are providing a solid foundation to explore for potential future discoveries. By optimizing opportunities for success, we are advancing our district-scale approach to realize Foran's vision of a multi-decade mining complex, all while prioritizing risk-adjusted returns for our shareholders."

Foran lost $0.03 to $3.95 on Wednesday.